New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4212 - High-risk Targeted Investment Program
Section 4212.7 - Eligibility criteria for commercial revitalization projects

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4212.7

Current through Register Vol. 46, No. 12, March 20, 2024

Only eligible commercial revitalization projects may receive program assistance from the corporation. Preference will be given to neighborhood or community-based eligible recipients. To be eligible for consideration to receive program assistance, a commercial revitalization project must satisfy the criteria enumerated in section 4212.3(b) of this Part as well as the following criteria:

(a) The commercial revitalization project must consist of the design and/or undertaking of improvements to building facades and their components, such as exterior masonry, windows, awnings, exterior painting, signage, storefronts, exterior lighting and security barriers located within a commercial strip in a central business district, all as more particularly described in section 4212.9 of this Part.

(b) The applicant for program assistance must be an eligible recipient or the municipality in which the commercial revitalization project is located.

(c) The owners and/or tenants of not less than 75 percent of the number of storefronts or not less than 75 percent of the owners and/or tenants of the property with street frontage within the development site (which may also be referred to as the "revitalization district") or the owners of property constituting 75 percent of the linear footage of the development site must have preliminarily agreed to participate in said commercial revitalization project. The following properties shall not be included when computing the participation level:

(1) churches, synagogues and other religious institutions;

(2) government buildings;

(3) storefronts that have been recently constructed or reconstructed in a manner in which the corporation determines to be in keeping with the design plan; and

(4) wholly residential properties.

(d) The commercial revitalization project shall generally consist of no more than 50 storefronts.

(e) The commercial revitalization project must include public improvements in addition to the improvements to be made with program assistance. The applicant must demonstrate commitments of funds sufficient to carry out such public improvements. The minimum amount for such improvements shall be 20 percent of the total project cost. Public improvements may include, without limitation, any one or more of the following:

(1) upgrading sidewalks, curbs, and street paving within or adjacent to the development site;

(2) installation of seating and other street furniture within or adjacent to the development site;

(3) construction and renovation of public parking areas within or adjacent to the development site;

(4) upgrading of area lighting and signage within or adjacent to the development site;

(5) upgrading of parks, traffic islands, or green-spaces, including landscaping improvements within or adjacent to the development site;

(6) paying the costs of a downtown manager (as hereinafter defined), commercial manager (as hereinafter defined), property manager (as hereinafter defined) or project architect (as hereinafter defined);

(7) contributing public funds to be added to the funds of the corporation to match the contribution of property owners and/or tenants; and

(8) increased funding in the area of the commercial revitalization project for security, sanitation, or other essential public services.

(f) The municipality in which the commercial revitalization project is to be located must demonstrate its commitment to the commercial revitalization project by executing a memorandum of understanding, which shall include, without limitation, technical and financial assistance, administrative coordination and the provision for a cooperative spirit among all departments and levels of local government, with the eligible recipient prior to final action by the corporation with respect to the commercial revitalization project or, if the municipality is the applicant, it must submit with its application a duly certified statement confirming the participation of the municipality in the commercial revitalization project.

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