New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter VII - Industrial Infrastructure Development Program
Part 60 - The Application Process
Section 60.4 - Evaluation criteria
Current through Register Vol. 46, No. 12, March 20, 2024
The department shall evaluate the proposals submitted in accordance with the following criteria:
(a) the total number of jobs created or retained per dollar invested in the industrial infrastructure development project, with preference given to projects that will create or retain at least one permanent job for each $15,000 of assistance provided;
(b) consistency with the appropriate regional economic development strategy;
(c) the impact on existing and proposed economic development projects and programs and appropriateness of the proposed industrial infrastructure development project concept, taking into consideration whether the project is an integral part of an economic development project which will retain or create jobs;
(d) the impact on existing infrastructure facilities and services, if any;
(e) the availability of alternate funding sources, within a reasonable period of time, at affordable rates or terms, for the industrial infrastructure project;
(f) the repayment ability of the party who is designated to make such repayment;
(g) demonstration by the industrial facility of its commitment and ability to carry out the economic development project related to the industrial infrastructure development project; and
(h) demonstration of commitment of financing from public or private sources for the industrial infrastructure development project.
