N.Y. Public Authorities Law § 1953-a: Additional prerequisites to the provision of financial assistance

§ 1953-a. Additional prerequisites to the provision of financial

assistance. Prior to providing any financial assistance of more than one

hundred thousand dollars to any project, the authority must comply with

the following prerequisites:

1. The authority must adopt a resolution describing the project and

the financial assistance that the authority is contemplating with

respect to such project. Such assistance shall be consistent with the

uniform tax exemption policy adopted by the agency pursuant to

subdivision one of section nineteen hundred sixty-three-a of this

chapter, unless the agency has followed procedures for deviation from

such policy specified in subdivision two of such section.

1-a. The authority shall deliver a copy of the resolution adopted

pursuant to subdivision one of this section by certified mail, return

receipt requested or an electronic correspondence with a read receipt,

to the chief executive officer of each affected tax jurisdiction. When

the affected tax jurisdiction is a school district, the authority shall

deliver a copy of such resolution by certified mail, return receipt

requested or an electronic correspondence with a read-receipt, to the

district clerk and district superintendent of each affected school

district.

2. The authority must hold a public hearing with respect to the

project and the proposed financial assistance being contemplated by the

authority. At said public hearing, interested parties shall be provided

reasonable opportunity, both orally and in writing, to present their

views with respect to the project.

3. The authority must give at least ten days published notice of said

public hearing and shall, at the same time, provide notice of such

hearing to the chief executive officer of the affected tax jurisdiction

within which the project is located. The notice of hearing must state

the time and place of the hearing, contain a general, functional

description of the project, describe the prospective location of the

project, identify the initial owner, operator or manager of the project

and generally describe the financial assistance contemplated by the

authority with respect to the project.

4. The authority shall establish a procedure for compliance with the

notification requirements, including identification of the notification

method, under subdivision one-a of this section and subdivision two of

section nineteen hundred sixty-three-a of this title.