New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4249 - Downstate Revitalization Fund Program
Section 4249.5 - Evaluation criteria
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4249.5
Current through Register Vol. 46, No. 12, March 20, 2024
(a) The corporation shall give priority in granting assistance to those projects:
(1) with significant private financing or
matching funds through other public entities;
(2) likely to produce a high return on public
investment;
(3) with existence of
significant support from the local business community, local government,
community organizations, academic institutions and other regional
parties;
(4) deemed likely to
increase the community's economic and social viability;
(5) with cost benefit analysis that
demonstrates increased economic activity, sustainable job creation and
investments;
(6) located in
distressed communities;
(7) whose
application is submitted by multiple entities, both public and private;
or
(8) such other requirements as
determined by the corporation as are necessary to implement the provisions of
the program;
(9) applications for
assistance will be scored competitively, using a point system. Applications
under each track will be scored separately; requests for assistance under one
track thus will not be scored against requests for assistance under another
track.
Following are the scoring criteria and the points assigned to each area:
| Maximum Score | |||
| Criterion |
Business |
Infrastructure |
Downtown |
| Private financing leveraged | 10 | 10 | 5 |
| Public financing leveraged | 5 | 5 | 5 |
| Return on public investment | 10 | 5 | 5 |
| Increased economic activity | 10 | 5 | 5 |
| Distressed Census Tract | 10 | 10 | 10 |
| Application supported by multiple public/private entities | 7 | 7 | 7 |
| Local/regional support | 3 | 3 | 3 |
| Significant regional breadth, likely to have wide regional impact, or likely to increase the community's economic and social viability | 5 | 5 | 5 |
| Minority or women-owned business enterprise | 5 | 5 | 5 |
| Comports with identifiable regional development plans/initiatives | 5 | 5 | 5 |
| Loan v. grant | 10 | 10 | 10 |
| ESDC credit score (considers cash flow, collateral and guarantees) | 10 | 10 | 10 |
| Project readiness | 5 | 5 | 5 |
| Sustainable development | 5 | 5 | 5 |
| Reuse/remediation | 5 | 5 | 5 |
| Identified tenants | 5 | 5 | 5 |
| Potential to revitalize a downtown neighborhood | 3 | 3 | 3 |
| Consistency/preserve architectural character | 2 | 2 | 2 |
| President & CEO discretion | 10 | 10 | 10 |
| Total | 125 | 115 | 110 |
(i) President
& CEO discretion. ESD's President and CEO will be able to assign up to 10
points in recognition of factors not otherwise captured in the scoring, such as
geographic distribution throughout the State and a project's potentially
transformative nature.
(ii) Scoring
process. Applications will be scored in ESDC's regional offices, with
assistance from ESDC's central office in estimating a project's fiscal and
economic benefits and performing credit analysis. Funding recommendations will
be made based on scoring results and final decisions will be made once
President and CEO discretionary points have been assigned.
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