N.Y. Economic Development Law § 197-a: Definitions

§ 197-a. Definitions. For the purposes of this article, the following

terms shall have the following meanings:

1. "Authority" is the power authority of the state of New York.

2. "Authority-TMED contract" refers to a certain contract between the

authority and the town of Massena electric department, entitled

"Agreement Governing the Sale of St. Lawrence-FDR Project Power and

Energy to the Town of Massena Electric Department for Economic

Development Purposes," executed and dated by the authority on October

eighteenth, two thousand twelve, and the associated authority service

tariff issued and effective August twenty-first, two thousand twelve.

3. "Board" is the northern New York power proceeds allocation board

created by this article.

4. "Benefits" or "fund benefits" are payments to eligible applicants

selected by the authority for the purpose of funding eligible projects

with monies derived from net earnings that have been deposited into the

northern New York economic development fund by the authority in

accordance with subdivision twenty-four of section one thousand five of

the public authorities law.

5. "Eligible applicant" means a private business, including a

not-for-profit corporation.

6. "Eligible projects" are economic development projects that are or

would be physically located within the state of New York in St. Lawrence

county that will support the growth of business in St. Lawrence county

and thereby lead to the creation or maintenance of jobs and tax revenues

for the state and local governments. Eligible projects may include

capital investments in buildings, equipment, and associated

infrastructure (collectively, "infrastructure") owned by an eligible

applicant for fund benefits; transportation projects under state or

federally approved plans; the acquisition of land needed for

infrastructure; research and development where the results of such

research and development will directly benefit New York state; support

for tourism and marketing and advertising efforts for St. Lawrence

county tourism and business; and energy-related projects. Eligible

projects do not include, and fund benefits may not be used for, public

interest advertising or advocacy; lobbying; the support or opposition of

any candidate for public office; the support or opposition to any public

issue; legal fees related to litigation of any kind; expenses related to

administrative proceedings before state or local agencies; or retail

businesses as defined by the board, including without limitation, sports

venues, gaming and gambling or entertainment-related establishments,

residential properties, or places of overnight accommodation.

7. "Energy-related projects, programs and services" shall have the

same meaning as such term is defined in subparagraph two of paragraph

(b) of subdivision seventeen of section one thousand five of the public

authorities law.

8. "Net earnings" is the aggregate excess of revenues received by the

authority from the sale of energy associated with St. Lawrence county

economic development power sold by the authority in the wholesale energy

market over what revenues would have been received had such energy been

sold on a firm basis under the terms of the authority-TMED contract.

9. "Northern New York economic development fund" or "fund" is a fund

of the authority into which net earnings are deposited by the authority

in accordance with subdivision twenty-four of section one thousand five

of the public authorities law and from which allocations of fund

benefits to eligible projects may be made by the authority.

10. "St. Lawrence county economic development power" means firm

hydroelectric energy produced by the authority's St. Lawrence power

project that the authority has made available for allocation and sale to

the town of Massena electric department for resale and sub-allocation to

qualified end users pursuant to the authority-TMED contract.