§ 1827 — Loans for multi-tenant facilities

§ 1827. Loans for multi-tenant facilities. When in the judgment of the\nauthority a need exists for additional space for industrial,\nmanufacturing, research and development use or other eligible business\nfacilities in an area of the state, it may make a loan to a local\ndevelopment corporation or issue a loan guarantee to a banking\norganization to assist in financing a project for a business enterprise\nwhich proposes to lease the project to two or more tenants to be used\nfor manufacturing, industrial or research and development purposes, or\nto be used as an eligible business facility, provided that the authority\nshall make a finding in lieu of the findings referred to in section\neighteen hundred twenty-six, that such business enterprise is\nfinancially responsible and presumptively able to comply with any lease,\nmortgage or other agreement made by it with the authority, banking\norganization or a local development corporation in connection with the\nproject.\n