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 4240.4 - Eligible and ineligible uses of program assistance
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4240.4
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Program assistance may be sought and used for the purposes set forth in the descriptions herein of each form of program assistance.
(b) Program assistance shall not be used for any of the following purposes:
(1) refinancing, retiring or liquidating
existing debt or equity;
(2)
residential construction projects;
(3) payment of any tax arrearages;
and
(4) payment of employee benefit
arrearages.
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