§ 859-A — Additional prerequisites to the provisions of financial assistance

§ 859-a. Additional prerequisites to the provisions of financial\nassistance. Prior to providing any financial assistance of more than one\nhundred thousand dollars to any project, the agency must comply with the\nfollowing prerequisites:\n 1. The agency must adopt a resolution describing the project and the\nfinancial assistance that the agency is contemplating with respect to\nsuch project. Such assistance shall be consistent with the uniform tax\nexemption policy adopted by the agency pursuant to subdivision four of\nsection eight hundred seventy-four of this chapter, unless the agency\nhas followed the procedures for deviation from such policy specified in\nparagraph (b) of such subdivision.\n 1-a. The agency shall deliver a copy of the resolution adopted\npursuant to subdivision one of this section by certified mail, return\nreceipt requested or an electronic correspondence with a read-receipt,\nto the chief executive officer of each affected local taxing\njurisdiction. When the affected local taxing jurisdiction is a school\ndistrict, the agency shall deliver a copy of such resolution by\ncertified mail, return receipt requested or an electronic correspondence\nwith a read-receipt, to the district clerk and district superintendent\nof each affected school district.\n 2. The agency must hold a public hearing with respect to the project\nand the proposed financial assistance being contemplated by the agency.\nSaid public hearing shall be held in a city, town or village where the\nproject proposes to locate. At said public hearing, interested parties\nshall be provided reasonable opportunity, both orally and in writing, to\npresent their views with respect to the project.\n 3. The agency must give at least ten days published notice of said\npublic hearing and shall, at the same time, provide notice of such\nhearing to the chief executive officer of each affected tax jurisdiction\nwithin which the project is located. The notice of hearing must state\nthe time and place of the hearing, contain a general, functional\ndescription of the project, describe the prospective location of the\nproject, identify the initial owner, operator or manager of the project\nand generally describe the financial assistance contemplated by the\nagency with respect to the project.\n 4. Each agency shall develop a standard application form, which shall\nbe used by the agency to accept requests for financial assistance from\nall individuals, firms, companies, developers or other entities or\norganizations. The standard application form shall be submitted by or on\nbehalf of the applicant, and subscribed and affirmed under the penalties\nof perjury by the applicant, or on behalf of the applicant by the chief\nexecutive officer or such other individual that is duly authorized to\nbind the applicant, as true, accurate and complete to the best of his or\nher knowledge. The standard application form shall include the\nfollowing, and may include such other supplemental information as\ndetermined to be necessary and appropriate by the agency, including\nsupporting documents and information provided by or on behalf of the\napplicant:\n (a) the name and address of the project applicant;\n (b) a description of the proposed project for which financial\nassistance is requested, including the type of project, proposed\nlocation and purpose of the project;\n (c) the amount and type of financial assistance being requested,\nincluding the estimated value of each type of tax exemption sought to be\nclaimed by reason of agency involvement in the project;\n (d) a statement that there is a likelihood that the project would not\nbe undertaken but for the financial assistance provided by the agency\nor, if the project could be undertaken without financial assistance\nprovided by the agency, a statement indicating why the project should be\nundertaken by the agency;\n (e) an estimate of capital costs of the project, including all costs\nof real property and equipment acquisition and building construction or\nreconstruction, financed from private sector sources, an estimate of the\npercentage of project costs financed from public sector sources, and an\nestimate of both the amount to be invested by the applicant and the\namount to be borrowed to finance the project.\n (f) the projected number of full time equivalent jobs that would be\nretained and that would be created if the request for financial\nassistance is granted, the projected timeframe for the creation of new\njobs, the estimated salary and fringe benefit averages or ranges for\ncategories of the jobs that would be retained or created if the request\nfor financial assistance is granted, and an estimate of the number of\nresidents of the economic development region as established pursuant to\nsection two hundred thirty of the economic development law or the labor\nmarket area as defined by the agency, in which the project is located\nthat would fill such jobs. The labor market area defined by the agency\nfor this purpose may include no more than six contiguous counties in the\nstate, including the county in which the project is to be located;\n (g) a statement to the effect that the provisions of subdivision one\nof section eight hundred sixty-two of this chapter will not be violated\nif financial assistance is provided for the proposed project;\n (h) a statement that the owner, occupant or operator receiving\nfinancial assistance is in substantial compliance with applicable local,\nstate and federal tax, worker protection and environmental laws, rules\nand regulations; and\n (i) a statement acknowledging that the submission of any knowingly\nfalse or knowingly misleading information may lead to the immediate\ntermination of any financial assistance and the reimbursement of an\namount equal to all or part of any tax exemptions claimed by reason of\nagency involvement in the project.\n 5. Each agency shall develop, and adopt by resolution, uniform\ncriteria for the evaluation and selection for each category of projects\nfor which financial assistance will be provided. At a minimum, the\ncriteria shall require that, for each project, the following must occur\nprior to the approval of the provision of financial assistance:\n (a) an assessment by the agency of all material information included\nin connection with the application for financial assistance, as\nnecessary to afford a reasonable basis for the decision by the agency to\nprovide financial assistance for the project;\n (b) a written cost-benefit analysis by the agency that identifies the\nextent to which a project will create or retain permanent, private\nsector jobs; the estimated value of any tax exemptions to be provided;\nthe amount of private sector investment generated or likely to be\ngenerated by the proposed project; the contribution of the project to\nthe state's renewable energy goals and emission reduction targets as set\nforth in the state energy plan adopted pursuant to section 6-104 of the\nenergy law; the likelihood of accomplishing the proposed project in a\ntimely fashion; and the extent to which the proposed project will\nprovide additional sources of revenue for municipalities and school\ndistricts; and any other public benefits that might occur as a result of\nthe project;\n (c) a statement by the applicant that the project, as of the date of\nthe application, is in substantial compliance with all provisions of\nthis article including, but not limited to, the provisions of this\nsection and subdivision one of section eight hundred sixty-two of this\nchapter; and\n (d) if the project involves the removal or abandonment of a facility\nor plant within the state, notification by the agency to the chief\nexecutive officer or officers of the municipality or municipalities in\nwhich the facility or plant was located.\n 6. Each agency shall develop a uniform agency project agreement that\nsets forth terms and conditions under which financial assistance shall\nbe provided. The uniform agency project agreement shall be used by the\nagency and no financial assistance shall be provided in the absence of\nthe execution of such an agreement. The uniform agency project agreement\nshall, at a minimum:\n (a) describe the project and the financial assistance, including the\namount and type, to be provided, and the agency purpose to be achieved;\n (b) require each project owner, occupant or operator receiving\nfinancial benefits to provide annually a certified statement and\ndocumentation: (i) enumerating the full time equivalent jobs retained\nand the full time equivalent jobs created as a result of the financial\nassistance, by category, including full time equivalent independent\ncontractors or employees of independent contractors that work at the\nproject location, and (ii) indicating that the salary and fringe benefit\naverages or ranges for categories of jobs retained and jobs created that\nwas provided in the application is still accurate and if it is not still\naccurate, providing a revised list of salary and fringe benefit averages\nor ranges for categories of jobs retained and jobs created.\n (c) indicate the dates when PILOT payments are to be made and provide\nan estimate of the amounts for each affected tax jurisdiction of any\npayments in lieu of taxes that are included as part of the transaction,\nor formula or formulas by which those amounts may be calculated. In lieu\nof providing such information, a copy of an executed payment in lieu of\ntax agreement that contains the same information may be attached to the\nuniform agency project agreement;\n (e) provide for the suspension or discontinuance of financial\nassistance, or for the modification of any payment in lieu of tax\nagreement to require increased payments, in accordance with policies\ndeveloped by the agency pursuant to section eight hundred seventy-four\nof this title;\n (f) provide for the return of all or a part of the financial\nassistance provided for the project, including all or part of the amount\nof any tax exemptions, which shall be redistributed to the appropriate\naffected tax jurisdiction, as provided for in policies developed by the\nagency pursuant to section eight hundred seventy-four of this title,\nunless agreed to otherwise by any local taxing jurisdiction or\njurisdictions; and\n (g) provide that the owner, occupant or operator receiving financial\nassistance shall certify, under penalty of perjury, that it is in\nsubstantial compliance with all local, state and federal tax, worker\nprotection and environmental laws, rules and regulations.\n 7. Each agency shall establish a procedure for compliance with the\nnotification requirements, including identification of the notification\nmethod, under subdivision one-a of this section and paragraph (b) of\nsubdivision four of section eight hundred seventy-four of this title.\n