Bill Text: NY A00550 | 2017-2018 | General Assembly | Introduced
Bill Title: Establishes the urban and regional farmers' markets facilities construction program; defines related terms and regulates grants and financing; establishes revolving loan and loan guarantee fund.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2018-01-03 - referred to economic development [A00550 Detail]
Download: New_York-2017-A00550-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 550 2017-2018 Regular Sessions IN ASSEMBLY January 9, 2017 ___________ Introduced by M. of A. ROSENTHAL, BARRETT, SANTABARBARA -- read once and referred to the Committee on Economic Development AN ACT to amend the New York state urban development corporation act, in relation to the planning and development of urban and regional farm- ers' markets facilities The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 16-n of section 1 of chapter 174 of the laws of 2 1968, constituting the New York state urban development corporation act, 3 as added by chapter 428 of the laws of 2006, is renumbered section 4 16-aa. 5 § 2. Section 1 of chapter 174 of the laws of 1968, constituting the 6 New York state urban development corporation act, is amended by adding a 7 new section 16-bb to read as follows: 8 § 16-bb. Urban and regional farmers' markets facilities construction 9 program. 1. Definitions. For purposes of this section: 10 (a) "Urban or regional farmers' market construction project" shall 11 mean a project for the establishment, expansion and development of a 12 year-round urban or regional farmers' market primarily leasing space to 13 farmers, farmer/processors and craft businesses from within the region 14 of the greenmarket to sell directly to customers. 15 (b) "Not-for-profit corporation" shall mean agricultural cooperatives, 16 regional market authorities, corporation business improvement districts 17 and regional and community development organizations organized under the 18 provisions of the not-for-profit corporation law or other state law 19 providing for nonprofit corporations. 20 (c) "Highly distressed" shall have the same meaning as provided for in 21 section sixteen-d of this act. 22 (d) "Economically distressed areas" shall have the same meaning as 23 provided for in section sixteen-d of this act. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04937-01-7A. 550 2 1 2. The corporation shall, from appropriations made available for the 2 purpose, establish an urban and regional farmers' markets facilities 3 construction program which shall offer construction grants pursuant to 4 paragraphs (a) and (b) of subdivision 3 of this section and revolving 5 loans and loan guarantees pursuant to paragraphs (c) and (d) of subdivi- 6 sion 3 of this section. 7 3. To the extent that monies are appropriated for the urban and 8 regional farmers' markets facilities construction program, the corpo- 9 ration shall provide financing for urban or regional farmers' market 10 facilities construction projects for the establishment, expansion and 11 development of urban and regional farmers' markets facilities which are 12 intended to serve the needs of the regional agricultural community and 13 the community revitalization of the host city. The corporation, in 14 consultation with the department of economic development, shall develop 15 a joint request for applications with the department of agriculture and 16 markets' comments on soliciting potential applicants seeking assistance 17 for the development of urban and regional farmers' markets facilities. 18 An applicant must be a not-for-profit corporation, municipal corporation 19 or public benefit corporation. In determining award recipients, the 20 corporation shall consider, among other factors, the department of agri- 21 culture and markets' comments on the applications. Such financing shall 22 consist of grants, revolving loans and loan guarantees for the estab- 23 lishment, expansion, and development of urban and regional farmers' 24 markets facilities. 25 (a) Grants shall be used for general project development costs, 26 including, but not limited to: 27 (i) the acquisition, design, construction, improvement or renovation 28 of the site; and 29 (ii) the purchase of necessary equipment. 30 (b) For the purposes of this subdivision grants shall not exceed 31 eighty percent of the total project cost in highly distressed communi- 32 ties; shall not exceed seventy percent of the total project cost in 33 economically distressed areas; and shall not exceed sixty percent of the 34 total project cost in non-economically distressed areas. 35 (c) Urban and regional farmers' market facility construction revolving 36 loan and loan guarantees. The corporation shall provide revolving loans 37 and loan guarantees for the establishment by not-for-profit corpo- 38 rations, municipal corporations or public benefit corporations of urban 39 and regional farmers' market facilities. Such revolving loans and loan 40 guarantees shall be for construction costs, including, but not limited 41 to the design, construction, improvement or renovation and may include 42 interim financing. 43 (d) Urban and regional farmers' market facility construction revolving 44 loan and loan guarantee fund. For the purposes of this subdivision, the 45 corporation shall establish an urban and regional farmers' market facil- 46 ity construction revolving loan and loan guarantee fund account. The 47 corporation shall determine the terms and interest rates of such loans 48 to not-for-profit corporations, municipal corporations or public benefit 49 corporations, except that no loan shall exceed eighty percent of the 50 total project cost in highly distressed communities; seventy percent of 51 the total project cost in economically distressed areas; and sixty 52 percent of the total project cost in non-economically distressed areas. 53 In instances where an otherwise qualified applicant lacks equity in a 54 project, equity participation may include any commitment for grants. 55 Payments consisting of the repayment of the principal amount of the loan 56 and interest shall be deposited by the corporation into the urban andA. 550 3 1 regional farmers' market facility construction revolving loan fund 2 account from which the loan was made. 3 4. Financing for urban and regional farmers' markets facilities 4 construction projects authorized pursuant to this subdivision, shall 5 only be made upon a determination by the corporation, in consultation 6 with the department of economic development, and the department of agri- 7 culture and markets that such a facility will improve the agricultural 8 and urban economies. Such revolving loans, loan guarantees and grants 9 shall only be made for facilities where there are inadequate agricul- 10 tural direct marketing facilities. Such centers shall demonstrate the 11 potential to obtain, from appropriate governmental agencies, all neces- 12 sary approvals, licenses, and other supports required to operate the 13 facility. 14 § 3. This act shall take effect immediately.
