N.Y. Economic Development Law § 185: Revitalization programs

§ 185. Revitalization programs. In addition to the criteria described

in section one hundred eighty-four of this article and such other

criteria as the board may by rule or regulation define, an economic

development power allocation may be made to a business in serious,

long-term distress that is not primarily caused by normal, short-term

changes in the business cycle, when the applicant demonstrates to the

satisfaction of the board:

(a) that the applicant has formulated and will implement a

comprehensive business revitalization plan which is described in its

application, and which:

(1) contains a detailed strategy for actions to be taken by the

applicant to continue as a successful business, including, but not

limited to, productivity and efficiency improvements, changes in

operations, financing or management, measures to enhance labor and

management cooperation and to improve the skills and performance of the

work force at all levels, capital investment in new equipment and plant

modernization, development of new markets and products, and such other

actions as will enable the business to stabilize and sustain its

operations;

(2) has been endorsed by the board of directors; and

(3) establishes a verifiable schedule for completion of proposed

actions;

(b) that an allocation of economic development power will

significantly contribute to the revitalization plan;

(c) that the business is likely to close, partially close or relocate

out of state resulting in the loss of substantial numbers of jobs;

(d) that the business is an important employer in the community and

efforts to revitalize the business are in the long-term interests of

both employees and the community;

(e) that a reasonable prospect exists that the proposed revitalization

plan will enable the business to remain competitive and become

profitable and preserve jobs for a substantial period of time;

(f) that the applicant demonstrates cooperation with the local

electricity distributor and other available sources of assistance to

reduce energy costs to the maximum extent practicable, through

conservation and load management; and

(g) that the allocation will not unduly affect the cost of electric

service to customers of the local electricity distributor.