Bill Text: NY A04138 | 2009-2010 | General Assembly | Introduced
Bill Title: An act to amend the New York state urban development corporation act, in relation to creating a waterfront revitalization demonstration program
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2010-04-20 - held for consideration in economic development [A04138 Detail]
Download: New_York-2009-A04138-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
4138
2009-2010 Regular Sessions
I N A S S E M B L Y
January 30, 2009
___________
Introduced by M. of A. AMEDORE, TOBACCO -- read once and referred to the
Committee on Economic Development, Job Creation, Commerce and Industry
AN ACT to amend the New York state urban development corporation act, in
relation to creating a waterfront revitalization demonstration program
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Statement of legislative intent. Many of New York state's
2 oldest cities, towns and villages owe their very existence to an advan-
3 tageous location on the state's vast network of natural and man-made
4 waterways and waterfronts. From the earliest years of settlement through
5 the early years of the twentieth century, these municipalities depended
6 on their waterfronts as the focal points for commerce, industry, recre-
7 ation and, in many instances, transportation. New York state emerged as
8 the empire state in the nineteenth century when its waterfront-based
9 manufacturing industry enabled it to become the dominant manufacturing
10 center of the world. In recent times, however, a variety of factors have
11 contributed to the decline and deterioration of the state's once vital
12 waterfronts, including the erosion of the state's manufacturing base,
13 the abandonment of aging structures, and the construction of highways
14 and rail lines which often cut off cities, towns and villages from the
15 waterfronts which once were the center of municipal attention.
16 The potential of such waterfronts to contribute to the revitalization
17 of these older communities and to improve the quality of life for their
18 residents remains despite these years of neglect. The improvement of
19 these waterfronts can result in the revitalization of adjacent central
20 business districts, the attraction of new commerce and industry, the
21 enhancement of tourist opportunities, new recreational opportunities and
22 the reclamation of our historic heritage. Conversely, continued deteri-
23 oration can lead to the spreading of economic blight.
24 Therefore, the legislature declares that the revitalization of the
25 state's historic waterfronts will contribute to the economic and social
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04793-01-9
A. 4138 2
1 vitality of waterfront communities and that state assistance in this
2 regard is necessary and proper for achieving this public purpose.
3 S 2. Subdivision 1 of section 16-e of section 1 of chapter 174 of the
4 laws of 1968, constituting the New York state urban development corpo-
5 ration act, is amended by adding a new paragraph (i) to read as follows:
6 (I) "WATERFRONT REVITALIZATION DEMONSTRATION PROJECT" SHALL MEAN ANY
7 PROJECT INTENDED TO IMPROVE OR REVITALIZE A WATERFRONT AREA LOCATED ON
8 THE HUDSON RIVER NORTH OF THE BOUNDARY OF THE CITY OF NEW YORK AND ON
9 THE MOHAWK RIVER.
10 S 3. Subdivisions 2 and 3 of section 16-e of section 1 of chapter 174
11 of the laws of 1968, constituting the New York state urban development
12 corporation act, as added by chapter 169 of the laws of 1994, are
13 amended to read as follows:
14 (2) Loans and grants. The corporation may make loans and grants for
15 regional strategic planning, business development projects, business
16 infrastructure and infrastructure investment projects, skills training
17 assistance projects, economic development assistance projects, WATER-
18 FRONT REVITALIZATION DEMONSTRATION PROJECTS, and child care assistance
19 projects, that create or retain permanent private-sector jobs. Such
20 projects and programs except as specifically provided herein:
21 (a) Must be consistent with a regional strategic plan for economic
22 development, as coordinated by the chairman of the corporation and
23 approved by the director of the budget, with copies filed with the
24 speaker of the assembly and the temporary president of the senate;
25 (b) Must create or retain substantial permanent private-sector jobs in
26 the case of business development loans and business infrastructure
27 projects, or in the case of a child care assistance project the corpo-
28 ration determines that the child day care center will improve or main-
29 tain the productivity of the sponsoring company or companies, OR IN THE
30 CASE OF A WATERFRONT REVITALIZATION DEMONSTRATION PROJECT, THE CORPO-
31 RATION DETERMINES THAT SUCH PROJECT WILL IMPROVE OR MAINTAIN THE ECONOM-
32 IC VITALITY OR STABILITY OF AN AREA OR CONTRIBUTE TO THE POTENTIAL OF
33 THE AREA FOR TOURIST ATTRACTION AND RECREATIONAL USE;
34 (c) Must be reasonably likely to be completed within the time and cost
35 estimates presented in the proposal; and
36 (d) Must be unable to obtain sufficient funding on reasonable terms
37 from other public or private sources to permit the project to proceed
38 without the requested assistance[; and].
39 (3) Ineligible projects. Ineligible projects shall include retail
40 businesses, overnight lodging facilities, EXCEPT FOR RETAIL BUSINESS OR
41 OVERNIGHT LODGING FACILITIES WHICH ARE PART OF A WATERFRONT REVITALIZA-
42 TION PROJECT, debt refinancing, or the relocation of a business from one
43 municipality within the state to another municipality, provided, howev-
44 er, that such a project shall not be deemed ineligible if all munici-
45 palities from which such business will be relocated are notified in
46 writing of the corporation's approval of such funding and the chief
47 executive officers of the municipalities do not object to the corpo-
48 ration in writing within a period of twenty days of receipt of the
49 notification.
50 S 4. Section 16-e of section 1 of chapter 174 of the laws of 1968,
51 constituting the New York state urban development corporation act, is
52 amended by adding a new subdivision 12-a to read as follows:
53 (12-A) WATERFRONT REVITALIZATION DEMONSTRATION PROJECTS. (A) THE
54 CORPORATION MAY MAKE GRANTS AND LOANS TO MUNICIPALITIES, INDUSTRIAL
55 DEVELOPMENT AGENCIES AND LOCAL, COUNTY OR REGIONAL DEVELOPMENT CORPO-
56 RATIONS DESIGNATED BY A LOCAL GOVERNMENT FOR SPECIFIC WATERFRONT REVI-
A. 4138 3
1 TALIZATION PROJECTS LOCATED ON THE HUDSON RIVER NORTH OF THE BOUNDARY OF
2 THE CITY OF NEW YORK AND ON THE MOHAWK RIVER.
3 (B) PRIORITY CONSIDERATION AND PREFERENCE SHALL BE GIVEN TO WATERFRONT
4 REVITALIZATION PROJECTS LOCATED IN AREAS ENCOMPASSED BY, OR FORMING THE
5 BORDER OF, EMPIRE ZONES ESTABLISHED PURSUANT TO ARTICLE 18-B OF THE
6 GENERAL MUNICIPAL LAW.
7 (C) ASSISTANCE FOR WATERFRONT REVITALIZATION PROJECTS SHALL NOT EXCEED
8 FORTY-NINE PERCENT OF THE TOTAL PROJECT COST OR SEVEN HUNDRED FIFTY
9 THOUSAND DOLLARS, WHICHEVER IS LESS. LOANS FOR SUCH PROJECTS SHALL BE AT
10 INTEREST RATES DETERMINED BY THE CORPORATION THAT ARE NECESSARY TO MAKE
11 THE PROJECT FEASIBLE.
12 (D) NO MORE THAN FIFTY PERCENT OF THE FUNDS AVAILABLE FROM THE CORPO-
13 RATION FOR ANY WATERFRONT REVITALIZATION PROJECT NOT LOCATED IN AN
14 EMPIRE ZONE, AND NO MORE THAN SIXTY PERCENT OF THE FUNDS AVAILABLE FROM
15 THE CORPORATION FOR ANY WATERFRONT REVITALIZATION PROJECT LOCATED IN AN
16 EMPIRE ZONE SHALL BE DISBURSED AS A GRANT.
17 S 5. This act shall take effect immediately.
