New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4240 - Small, Minority Business And Women-owned Business Enterprises Transportation Capital Assistance And Guaranteed Loan Program
Section 4240.2 - Definitions
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Affirmative action program shall mean a program developed by the affirmative action department of the corporation establishing goals for the participation of minority persons and women in business and employment opportunities for any project receiving financial assistance from the program.
(b) Appropriating legislation shall mean chapter 54, section 1 of the Laws of 1993, together with all subsequent legislation appropriating or reappropriating funds for the program.
(c) Beneficiary means a recipient of program assistance as set forth in section 4240.3 of this Part.
(d) Business development loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4240.7 of this Part.
(e) Business development loan guaranty shall have the meaning assigned to such term in section 4240.9 of this Part.
(f) Educational institution shall mean:
The term educational institution shall not include any not-for-profit corporation organized for other than educational purposes and affiliated with an entity described in paragraph (1) or (2) of this subdivision.
(g) Certification shall mean the official determination of a business enterprise as a bona fide minority and/or women-owned business enterprise.
(h) Certified government contractor shall mean a certified minority and/or women-owned business enterprise that has a government contract(s).
(i) Certified minority or women-owned business enterprise shall mean a minority and/or women-owned business enterprise that has obtained certification or has had its application for certification rejected on the ground that such enterprise is a start up business and is ineligible for certification until such time as it can document business activity and operational control as a minority and/or women-owned business enterprise, as set forth in section 4240.3(b) of this Part.
(j) Certifying agency shall mean a New York State agency, department, public benefit corporation or public authority, or other governmental or quasi-governmental agency that is:
(k) Corporation or UDC shall mean the New York State Urban Development Corporation, a public benefit corporation created by chapter 174 of the Laws of 1968, as amended.
(l) DOT shall mean the New York State Department of Transportation.
(m) Economic development zone means an area or community designated as such pursuant to article 18-B of the General Municipal Law of the State.
(n) Eligible banking organization shall mean any of the following organizations that shall be insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), as the case may be, or any successor agency of FDIC or NCUA:
(o) EODC shall mean the Director of the Office of Equal Opportunity Development and Compliance.
(p) Franchise loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4240.8 of this Part.
(q) Franchise loan guaranty shall have the meaning assigned to such term in section 4240.9 of this Part.
(r) Government contract shall mean any of the following types of contracts:
(s) Government contractor loan guaranty shall have the meaning assigned to such term in section 4240.9 of this Part.
(t) Intermediary means a recipient of program assistance on behalf of a beneficiary as set forth in section 4240.3 of this Part.
(u) Linked deposit shall have the meaning set forth in section 4240.5 of this Part.
(v) Loan application shall mean an application for program assistance in the form of a government contractor loan, business development loan, or franchise loan, as set forth in sections 4240.6 through 4240.8 of this Part.
(w) Loan guaranty shall mean a guaranty for the purposes described in, and meeting the criteria enumerated in section 4240.9 of this Part.
(x) Minority-owned business enterprise (MBE) shall mean any business enterprise that is:
(y) Minority or minority person shall mean:
(z) Nationally-recognized corporation shall mean any franchiser corporation registered with the State Attorney General in accordance with New York Law, authorized to do business in New York State, having operations in at least three states and having at least 15 franchised locations.
(aa) Program shall mean the Small, Minority and Women-owned Business Enterprises Transportation Capital Assistance and Guaranteed Loan Program, established pursuant to the appropriating legislation.
(ab) Program assistance shall mean assistance from the corporation utilizing program funds.
(ac) Small business shall mean any business that is resident in the State, independently owned and operated, not dominant in its field and employs 100 or less persons, as set forth in section 131 of the Economic Development Law, as in effect from time to time.
(ad) Small government contractor shall mean a small business that has a government contract(s).
(ae) State shall mean the State of New York.
(af) State certification director shall mean the head of the Division of Minority and Women's Business Development of the Department of Economic Development (or any successor agency thereof), who is appointed by the Governor and is a member of the Executive Chamber of the State.
(ag) UDC Act shall mean chapter 174 of the Laws of 1968, as amended.
(ah) Women-owned business enterprise (WBE) shall mean any business enterprise that is: