New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter VII - Industrial Infrastructure Development Program
Part 60 - The Application Process
Section 60.5 - Preliminary applications
Universal Citation: 5 NY Comp Codes Rules and Regs ยง 60.5
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Preliminary applications for assistance under the Industrial Infrastructure Development Program shall be in the form prescribed by the commissioner, and may be submitted by an eligible applicant at any time to the appropriate regional office of the department.
(b) Preliminary applications shall include, but not be limited to, a brief description of the following:
(1) a description of the industrial
infrastructure development project, including:
(i) provisions for public use and maintenance
for the useful life of the facility to be provided by the applicant, if
appropriate;
(ii) an affirmation by
the responsible public or corporate official that the industrial infrastructure
development project has met all environmental requirements under the State
Environmental Quality Review Act and other applicable Federal, State and local
statutes, ordinances and regulations;
(iii) documentation which indicates that
estimated costs for the industrial infrastructure development project are both
reasonable and proper for such work; and
(iv) a visual representation of the
industrial infrastructure development project in map format;
(2) a description of how the
economic development project related to the industrial infrastructure
development project is consistent with the regional economic development
strategy and the State's economic development goals;
(3) an estimate of the number of jobs to be
created or retained by the economic development project;
(4) a description of the financing and
implementation schedule for the economic development project which clearly
demonstrates the need for State participation in the industrial infrastructure
development project component;
(5)
an affirmation by the responsible public or corporate official to the effect
that other existing financing programs are not available or appropriate for the
industrial infrastructure development project due to lack of funding;
(6) identification of other sources of public
and private financing committed to the project; and
(7) a description of the method or plans for
repayment to the State of at least 50 percent of the industrial infrastructure
development project costs. Such description should thoroughly address the
circumstances and justification for not repaying the entire amount proposed to
be funded under this program.
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