N.Y. Economic Development Law § 189-c: General powers and duties of the board

§ 189-c. General powers and duties of the board. 1. The board shall

establish procedures and guidelines relating to the activities of the

board.

2. The board shall establish procedures through written policies or

standards for reviewing applications for an allocation of fund benefits

that shall include a review of applications no less frequently than

twice each year. The board, or a member designated by the board, shall

receive all applications from, or on behalf of, eligible applicants for

fund benefits. Applications shall be in a form and contain such

information, data and exhibits as the board, in consultation with the

authority, may prescribe.

3. The board may request from the authority an analysis of any

application along with any recommendations. In addition, the authority

shall supply any such additional information as is reasonably necessary

for the board to perform its duties.

4. In reviewing applications for fund benefits, the board shall use

the criteria for eligibility for expansion, replacement and preservation

power and for revitalization of industry as provided in section one

thousand five of the public authorities law. In addition, the board

shall consider the extent to which an award of fund benefits is

consistent with any regional economic development council strategies and

priorities having responsibility for the region in which the eligible

project is located. The board shall issue a written statement of its

findings and recommendations for each application reviewed.

5. The board shall recommend to the authority the allocation of fund

benefits to eligible projects that the board finds are consistent with

the applicable criteria in subdivision four of this section. The board

may include within its recommendations such recommended terms and

conditions as it deems appropriate, including, but not limited to,

reasonable provision for the allocation of fund benefits over time as

the eligible applicant achieves milestones towards project completion,

the partial or complete withdrawal or return of fund benefits where the

recipient has failed to achieve or maintain mutually agreed upon

commitments, or such other terms and conditions as the board deems

advisable. The board shall not recommend an allocation of fund benefits

prior to establishing procedures for reviewing applications pursuant to

subdivision two of this section.

6. A recommendation by the board that an eligible applicant receive an

allocation of fund benefits shall be a prerequisite to an award of fund

benefits by the authority. The authority shall award fund benefits to an

applicant upon a recommendation of the board; provided, however, that

upon a showing of good cause, the authority shall have discretion as to

whether to adopt the board's recommendation, or to award benefits in a

different amount or on different terms and conditions than those

contained in the recommendation of the board. Allocations of fund

benefits shall only be made on the basis of net earnings that have been

deposited in the western New York economic development fund. No award of

fund benefits shall encumber future net earnings or net earnings that

have been received but not deposited in the western New York economic

development fund.

7. Upon making an allocation of fund benefits, the authority shall

include within the agreement providing for the terms and conditions

applicable to such allocation all terms and conditions the authority

deems appropriate, taking into account the recommendations made by the

board.