Bill Text: NY S01129 | 2009-2010 | General Assembly | Amended
Bill Title: Establishes an urban and community development program in the urban development corporation; defines relevant terms; provides for procedures to be followed in implementing the program; provides for preference to be given to economic assistance for projects in distressed areas.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2010-05-06 - PRINT NUMBER 1129A [S01129 Detail]
Download: New_York-2009-S01129-Amended.html
S T A T E O F N E W Y O R K
________________________________________________________________________
1129--A
2009-2010 Regular Sessions
I N S E N A T E
January 26, 2009
___________
Introduced by Sens. PERKINS, DIAZ, DUANE, HASSELL-THOMPSON, ONORATO,
PARKER, THOMPSON -- read twice and ordered printed, and when printed
to be committed to the Committee on Corporations, Authorities and
Commissions -- recommitted to the Committee on Corporations, Authori-
ties and Commissions in accordance with Senate Rule 6, sec. 8 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to amend the New York state urban development corporation act, in
relation to establishing an urban and community development 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 findings and purpose. The legis-
2 lature finds that the recent shift in emphasis toward state/local
3 economic development partnerships and state support of regional and
4 local economic development activities requires a clear articulation of
5 strategic objectives, a delineation of respective state/local roles, and
6 a responsive state mechanism for delivering assistance and services.
7 The legislature further finds that New York state has a broad network
8 of community-based, not-for-profit economic development organizations
9 with a knowledge of community conditions, needs, strengths and priori-
10 ties and which possess an on-the-scenes knowledge of local business
11 conditions and experience in providing technical assistance to small
12 businesses, managing business retention programs, and providing a varie-
13 ty of other services.
14 The legislature further finds and declares that the core areas of
15 communities throughout the state, composed of central business districts
16 or commercial strips and their adjacent, surrounding areas, are suffer-
17 ing from deterioration and decline that have negatively affected the
18 abilities of these communities, as a whole, to retain and attract both
19 residents and jobs.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05458-02-0
S. 1129--A 2
1 The legislature further finds that the revitalization of central busi-
2 ness districts and commercial strips can result in increased property
3 values, an expanded tax base, the development of new businesses, and an
4 enhanced ability to attract and retain industry, tourism and residents
5 in central business districts and commercial strips and their surround-
6 ing areas.
7 The legislature further finds that state efforts to revitalize such
8 core areas in distressed communities must be coordinated, strengthened
9 and improved to restore the health of those communities.
10 Therefore, the legislature declares that it is in the interest of the
11 economic vitality of the state to support local efforts to revitalize
12 the core business areas of economically distressed communities through a
13 comprehensive program of management support, technical assistance and
14 targeted project support.
15 S 2. Section 3 of section 1 of chapter 174 of the laws of 1968 consti-
16 tuting the New York state urban development corporation act is amended
17 by adding nine new subdivisions 31, 32, 33, 34, 35, 36, 37, 38 and 39 to
18 read as follows:
19 (31) "BUSINESS IMPROVEMENT DISTRICT" SHALL MEAN A SPECIAL ASSESSMENT
20 DISTRICT ESTABLISHED PURSUANT TO ARTICLE 19-A OF THE GENERAL MUNICIPAL
21 LAW.
22 (32) "BUSINESS DISTRICT" SHALL MEAN THE CENTRAL DISTRICT OF A MUNICI-
23 PALITY OR NEIGHBORHOOD AREA TRADITIONALLY USED FOR COMMERCIAL PURPOSES.
24 (33) "COMMERCIAL REVITALIZATION ACTIVITIES" SHALL MEAN ANY ACTIVITY
25 WHICH CONTRIBUTES TO THE ENHANCEMENT OF AN URBAN OR RURAL BUSINESS
26 DISTRICT OR SURROUNDING AREA. SUCH ACTIVITIES MAY INCLUDE, BUT NOT BE
27 LIMITED TO:
28 (A) THE ACQUISITION, MAINTENANCE, REPAIR, REHABILITATION OR OTHER
29 IMPROVEMENTS TO VACANT OR OCCUPIED COMMERCIAL, SERVICE OR INDUSTRIAL
30 FACILITIES;
31 (B) PHYSICAL IMPROVEMENTS TO PUBLIC AREAS SUCH AS STREET FURNITURE,
32 LIGHTING, INFORMATION KIOSKS, TRASH RECEPTACLES, AND OTHER AMENITIES;
33 (C) PROGRAMS PROVIDING ASSISTANCE FOR SECURITY, JOB PLACEMENT, MARKET-
34 ING AND PROMOTION, ENERGY CONSERVATION, ARCHITECTURAL DESIGN STUDIES,
35 GENERAL BUSINESS SERVICES AND THE FORMATION OF BUSINESS IMPROVEMENT
36 DISTRICTS.
37 (34) "COMMERCIAL STRIP" SHALL MEAN A PREDOMINANTLY COMMERCIAL AREA
38 TRADITIONALLY USED FOR COMMERCIAL PURPOSES IN A MAJOR URBAN AREA WHICH
39 MAY NOT BE THE PRIMARY BUSINESS DISTRICT AND WHICH IS ONE OF SEVERAL
40 COMMERCIAL DISTRICTS IN THE MUNICIPALITY IN WHICH IT IS LOCATED.
41 (35) "ECONOMICALLY DISTRESSED AREAS" SHALL MEAN AREAS DETERMINED BY
42 THE COMMISSIONER OF THE DEPARTMENT OF ECONOMIC DEVELOPMENT ON THE BASIS
43 OF CRITERIA INDICATIVE OF ECONOMIC DISTRESS, INCLUDING POVERTY RATES,
44 NUMBERS OF PERSONS RECEIVING PUBLIC ASSISTANCE, UNEMPLOYMENT RATES, RATE
45 OF EMPLOYMENT DECLINE, POPULATION LOSS, RATE OF PER CAPITA INCOME
46 CHANGE, DECLINE IN ECONOMIC ACTIVITY AND PRIVATE INVESTMENT, AND SUCH
47 OTHER INDICATORS AS THE COMMISSIONER DEEMS APPROPRIATE. ECONOMICALLY
48 DISTRESSED AREAS MAY INCLUDE CITIES, MUNICIPALITIES, BLOCK NUMBERING
49 AREAS, AND CENSUS TRACTS.
50 (36) "HIGHLY DISTRESSED" SHALL MEAN SUFFERING FROM SEVERE ECONOMIC
51 DISTRESS AS DETERMINED BY THE CORPORATION USING CRITERIA SIMILAR TO
52 THOSE SET FORTH IN ARTICLE 18-B OF THE GENERAL MUNICIPAL LAW FOR DETER-
53 MINING ELIGIBILITY FOR EMPIRE ZONE STATUS.
54 (37) "IN-KIND SERVICES" SHALL MEAN THE DONATION OF QUANTIFIABLE GOODS
55 AND SERVICES INCLUDING BUT NOT LIMITED TO PROFESSIONAL SERVICES AND
56 TIME, EQUIPMENT, MATERIAL AND OFFICE SPACE FOR USE BY AN APPLICANT FOR
S. 1129--A 3
1 AN URBAN AND COMMUNITY DEVELOPMENT PROGRAM GRANT IN FURTHERANCE OF ITS
2 STATED PURPOSES OR PROVIDED ON BEHALF OF SUCH APPLICANT BY OTHERS FOR
3 SUCH PURPOSES AND FOR WHICH THERE IS NO MONETARY REMUNERATION.
4 (38) "NOT-FOR-PROFIT CORPORATION" SHALL MEAN A CORPORATION ORGANIZED
5 UNDER THE PROVISIONS OF THE NOT-FOR-PROFIT CORPORATION LAW.
6 (39) "SURROUNDING AREA" OR "CONTIGUOUS AREA" SHALL MEAN AN AREA
7 CONTIGUOUS WITH A BUSINESS DISTRICT.
8 S 3. Section 1 of chapter 174 of the laws of 1968 constituting the New
9 York state urban development corporation act is amended by adding a new
10 section 16-t to read as follows:
11 S 16-T. URBAN AND COMMUNITY DEVELOPMENT PROGRAM. (1) PROGRAM CREATED.
12 THERE IS HEREBY CREATED AN URBAN AND COMMUNITY DEVELOPMENT PROGRAM
13 CONSISTING OF THE FOLLOWING:
14 (A) AN URBAN AND COMMUNITY MAIN STREET REVITALIZATION PROGRAM PURSUANT
15 TO SUBDIVISION FOUR OF THIS SECTION.
16 (B) AN URBAN AND COMMUNITY DEVELOPMENT ASSISTANCE GRANTS PROGRAM
17 PURSUANT TO SUBDIVISION FIVE OF THIS SECTION.
18 (C) AN URBAN AND COMMUNITY PROJECT DEVELOPMENT PROGRAM PURSUANT TO
19 SUBDIVISION SIX OF THIS SECTION.
20 (D) AN URBAN AND COMMUNITY TRAINING AND TECHNICAL ASSISTANCE PROGRAM
21 PURSUANT TO SUBDIVISION SEVEN OF THIS SECTION.
22 (2) APPLICATIONS. APPLICATIONS FOR SUPPORT UNDER THIS PROGRAM SHALL BE
23 MADE IN A FORM AND MANNER AS DETERMINED BY THE CORPORATION AND APPLI-
24 CANTS SHALL BE REQUIRED TO MEET THE CRITERIA AND REQUIREMENTS ESTAB-
25 LISHED BY THE CORPORATION, INCLUDING BUT NOT LIMITED TO:
26 (A) FACTORS OF ECONOMIC DISTRESS;
27 (B) THE ABILITY OF THE APPLICANT TO OBTAIN FINANCIAL AND OTHER
28 SUPPORT, WHERE REQUIRED, FROM PUBLIC OR PRIVATE SOURCES, OTHER THAN THE
29 STATE;
30 (C) THE EXTENT OF SUPPORT FOR, AND INVOLVEMENT IN, THE PROGRAM OR
31 PROJECT OF UNITS OF LOCAL GOVERNMENT, THE LOCAL BUSINESS COMMUNITY AND
32 LOCAL ECONOMIC DEVELOPMENT PROFESSIONALS;
33 (D) SUCH OTHER REQUIREMENTS AND CRITERIA AS SET FORTH BY THE CORPO-
34 RATION.
35 (3) PREFERENCE. PREFERENCE WILL BE GIVEN TO PROJECTS WHICH ARE
36 LOCATED IN HIGHLY DISTRESSED COMMUNITIES, AND FOR WHICH OTHER PUBLIC OR
37 PRIVATE FUNDING SOURCES ARE NOT AVAILABLE.
38 (4) URBAN AND COMMUNITY MAIN STREET REVITALIZATION PROGRAM. (A)
39 THERE IS HEREBY ESTABLISHED WITHIN THE URBAN AND COMMUNITY DEVELOPMENT
40 PROGRAM, AN URBAN AND COMMUNITY MAIN STREET REVITALIZATION PROGRAM WHICH
41 SHALL BE USED TO PROVIDE MATCHING GRANTS TO URBAN AND RURAL COMMUNITIES
42 INVOLVED IN COMMERCIAL REVITALIZATION ACTIVITIES IN CENTRAL BUSINESS
43 DISTRICTS OR COMMERCIAL STRIPS TO SUPPORT THE MANAGEMENT OF SUCH ACTIV-
44 ITIES.
45 (B) THE CORPORATION SHALL, WITHIN AVAILABLE APPROPRIATIONS, AWARD SUCH
46 GRANTS TO LOCAL DEVELOPMENT CORPORATIONS, BUSINESS IMPROVEMENT DISTRICTS
47 AND OTHER NOT-FOR-PROFIT ORGANIZATIONS INVOLVED IN COMMERCIAL REVITALI-
48 ZATION ACTIVITIES ON A COMPETITIVE BASIS AND IN RESPONSE TO REQUESTS FOR
49 PROPOSALS THAT SHALL BE DISTRIBUTED TO SUCH ORGANIZATIONS BY THE CORPO-
50 RATION FOR THE PURPOSE OF SOLICITING APPLICATIONS.
51 (C) THE GRANTS AWARDED UNDER PARAGRAPHS (F) AND (G) OF THIS SUBDIVI-
52 SION SHALL BE USED FOR THE ADMINISTRATIVE COSTS OF A COMMERCIAL REVITAL-
53 IZATION PROGRAM CONDUCTED BY AN INDIVIDUAL, HEREINAFTER REFERRED TO AS
54 THE BUSINESS DISTRICT COORDINATOR, WHOSE PURPOSE SHALL BE TO COORDINATE
55 THE COMMERCIAL REVITALIZATION ACTIVITIES OF A CENTRAL BUSINESS DISTRICT
56 OR COMMERCIAL STRIP.
S. 1129--A 4
1 (D) REQUESTS FOR PROPOSALS UNDER THIS SUBDIVISION SHALL SET FORTH SUCH
2 CRITERIA AS THE CORPORATION DEEMS NECESSARY, INCLUDING THOSE SET FORTH
3 IN SUBDIVISION TWO OF THIS SECTION AND INCLUDING, BUT NOT LIMITED TO
4 THE FOLLOWING:
5 (I) THE POTENTIAL IMPACT THE PROPOSED COMMERCIAL REVITALIZATION
6 PROJECT WOULD HAVE ON ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES
7 IN THE MAIN STREET COMMUNITY AND THE REGION;
8 (II) DETERMINATION BY THE CORPORATION OF THE EXISTENCE OF SIGNIFICANT
9 SUPPORT FOR SUCH ACTIVITIES FROM THE LOCAL BUSINESS COMMUNITY, LOCAL
10 GOVERNMENT AND COMMUNITY ORGANIZATIONS WITHIN THE MAIN STREET COMMUNITY,
11 INCLUDING THE COMMITMENT OF FINANCIAL RESOURCES; AND
12 (III) THE POTENTIAL FOR THE COMMUNITY TO ESTABLISH A BUSINESS
13 IMPROVEMENT DISTRICT.
14 (E) RURAL COMMERCIAL REVITALIZATION PLANNING GRANTS. (I) NOT-FOR-PRO-
15 FIT CORPORATIONS LOCATED WITHIN MUNICIPALITIES WITH POPULATIONS NOT IN
16 EXCESS OF FIFTY THOUSAND PERSONS SHALL BE ELIGIBLE TO APPLY FOR COMMER-
17 CIAL REVITALIZATION PLANNING GRANTS FROM THE CORPORATION. SUCH GRANTS
18 SHALL BE USED FOR THE PLANNING AND ORGANIZATION OF COMMERCIAL REVITALI-
19 ZATION ACTIVITIES INCLUDING AN ANALYSIS OF THE SPECIFIC NEEDS OF THE
20 COMMUNITY IN ADDITION TO BOTH SHORT-TERM AND LONG-TERM STRATEGIES FOR
21 MEETING THOSE NEEDS.
22 (II) GRANTS MADE UNDER THIS PARAGRAPH SHALL BE LIMITED TO FORTY
23 PERCENT OF THE ACTUAL COSTS FOR PLANNING AND ORGANIZING OF COMMERCIAL
24 REVITALIZATION ACTIVITIES, AND SHALL NOT EXCEED FIVE THOUSAND DOLLARS
25 PER GRANT, PROVIDED, HOWEVER, THAT IN HIGHLY DISTRESSED COMMUNITIES SUCH
26 GRANTS SHALL BE LIMITED TO SIXTY PERCENT OF SUCH COSTS. NO COMMUNITY
27 MAY RECEIVE MORE THAN ONE GRANT UNDER THIS PARAGRAPH.
28 (F) MANAGEMENT ASSISTANCE FOR RURAL COMMUNITIES. (I) NOT-FOR-PROFIT
29 CORPORATIONS LOCATED WITHIN MUNICIPALITIES WITH POPULATIONS NOT IN
30 EXCESS OF FIFTY THOUSAND PERSONS SHALL BE ELIGIBLE TO APPLY FOR GRANTS
31 FOR THE ADMINISTRATION OF COMMERCIAL REVITALIZATION ACTIVITIES IN THEIR
32 BUSINESS DISTRICTS. PREFERENCE WILL BE GIVEN TO COMMUNITIES WHICH HAVE A
33 COMPREHENSIVE LOCAL PLAN FOR COMMERCIAL REVITALIZATION.
34 (II) THE GRANTS AWARDED UNDER THIS PARAGRAPH SHALL BE USED FOR THE
35 ADMINISTRATIVE COSTS OF A COMMERCIAL REVITALIZATION PROGRAM CONDUCTED BY
36 AN INDIVIDUAL, HEREINAFTER REFERRED TO AS THE MAIN STREET COORDINATOR,
37 WHOSE PURPOSE SHALL BE TO COORDINATE THE COMMERCIAL REVITALIZATION
38 ACTIVITIES OF THE BUSINESS DISTRICT. EACH SUCH GRANT SHALL BE LIMITED
39 TO FORTY PERCENT OF THE ACTUAL COSTS OF ADMINISTERING SUCH ACTIVITIES BY
40 THE MAIN STREET COORDINATOR FOR THE FIRST YEAR OF THE GRANT; IN THE
41 SECOND YEAR OF THE GRANT, SUCH GRANT SHALL BE LIMITED TO THIRTY PERCENT
42 OF THE ACTUAL COSTS; AND IN THE THIRD YEAR OF THE GRANT, SUCH GRANT
43 SHALL BE LIMITED TO TWENTY PERCENT OF THE ACTUAL COSTS, EXCEPT THAT FOR
44 GRANTS MADE TO SUPPORT A MAIN STREET COORDINATOR LOCATED IN A HIGHLY
45 DISTRESSED AREA, SUCH GRANTS MAY BE INCREASED TO COVER ADDITIONAL COSTS
46 EQUAL TO TEN PERCENT OF TOTAL COSTS IN EACH YEAR. THE CORPORATION SHALL
47 DETERMINE THE MAXIMUM DOLLAR AMOUNT PERMISSIBLE FOR EACH SUCH GRANT. NO
48 ORGANIZATION SHALL BE ELIGIBLE TO APPLY FOR OR RECEIVE SUCH GRANTS AFTER
49 THE THIRD YEAR OF SUPPORT UNDER THIS SUBDIVISION.
50 (III) EACH MAIN STREET COORDINATOR WHOSE ADMINISTRATIVE ACTIVITIES ARE
51 SUPPORTED BY A GRANT AWARDED UNDER THIS PARAGRAPH SHALL SUCCESSFULLY
52 COMPLETE A TRAINING PROGRAM CONDUCTED BY THE CORPORATION PURSUANT TO
53 PARAGRAPH (A) OF SUBDIVISION SEVEN OF THIS SECTION.
54 (G) MANAGEMENT ASSISTANCE FOR URBAN AREAS. (I) NOT-FOR-PROFIT CORPO-
55 RATIONS LOCATED WITHIN MUNICIPALITIES WITH POPULATIONS IN EXCESS OF
56 FIFTY THOUSAND PERSONS SHALL BE ELIGIBLE TO APPLY FOR GRANTS FOR THE
S. 1129--A 5
1 ADMINISTRATION OF COMMERCIAL REVITALIZATION ACTIVITIES IN THEIR BUSINESS
2 DISTRICTS.
3 (II) THE GRANTS AWARDED UNDER THIS SUBDIVISION SHALL BE USED FOR THE
4 ADMINISTRATIVE COSTS OF A COMMERCIAL REVITALIZATION PROGRAM CONDUCTED BY
5 AN INDIVIDUAL, HEREINAFTER REFERRED TO AS THE STRIP COORDINATOR, WHOSE
6 PURPOSE SHALL BE TO COORDINATE THE COMMERCIAL REVITALIZATION ACTIVITIES
7 OF THE BUSINESS DISTRICT. EACH SUCH GRANT SHALL BE LIMITED TO FORTY
8 PERCENT OF THE ACTUAL COSTS OF ADMINISTERING SUCH ACTIVITIES BY THE
9 STRIP COORDINATOR FOR THE FIRST YEAR OF THE GRANT; IN THE SECOND YEAR OF
10 THE GRANT, SUCH GRANT SHALL BE LIMITED TO THIRTY PERCENT OF THE ACTUAL
11 COSTS; AND IN THE THIRD YEAR OF THE GRANT, SUCH GRANT SHALL BE LIMITED
12 TO TWENTY PERCENT OF THE ACTUAL COSTS, EXCEPT THAT FOR GRANTS MADE TO
13 SUPPORT A MAIN STREET COORDINATOR LOCATED IN A HIGHLY DISTRESSED AREA,
14 SUCH GRANTS MAY BE INCREASED TO COVER ADDITIONAL COSTS EQUAL TO TEN
15 PERCENT OF TOTAL COSTS IN EACH YEAR. THE CORPORATION SHALL DETERMINE
16 THE MAXIMUM DOLLAR AMOUNT PERMISSIBLE FOR EACH SUCH GRANT. NO ORGANIZA-
17 TION SHALL BE ELIGIBLE TO APPLY FOR OR RECEIVE SUCH GRANTS AFTER THE
18 THIRD YEAR OF SUPPORT UNDER THIS SUBDIVISION.
19 (III) EACH STRIP COORDINATOR WHOSE ADMINISTRATIVE ACTIVITIES ARE
20 SUPPORTED BY A GRANT AWARDED UNDER THIS PARAGRAPH SHALL SUCCESSFULLY
21 COMPLETE A TRAINING PROGRAM CONDUCTED BY THE CORPORATION PURSUANT TO
22 PARAGRAPH (A) OF SUBDIVISION SEVEN OF THIS SECTION.
23 (H) THE CORPORATION SHALL PROVIDE TECHNICAL ASSISTANCE FOR COMMERCIAL
24 REVITALIZATION PROGRAMS. SUCH ASSISTANCE SHALL INCLUDE ESTABLISHING AND
25 IMPLEMENTING A TRAINING PROGRAM FOR MAIN STREET COORDINATORS AND STRIP
26 COORDINATORS. IN ADDITION THE CORPORATION SHALL CONDUCT ON-SITE SURVEYS
27 OF BUSINESS DISTRICTS IN ECONOMICALLY DISTRESSED AREAS, MONITOR AND
28 ASSIST COMMUNITIES FORMING BUSINESS IMPROVEMENT DISTRICTS, AND ORGANIZE
29 AND COORDINATE SEMINARS AND CONFERENCES TO FACILITATE THE EXCHANGE OF
30 INFORMATION REGARDING COMMERCIAL REVITALIZATION STRATEGIES.
31 (I) NOTWITHSTANDING ANYTHING CONTAINED TO THE CONTRARY IN THIS SUBDI-
32 VISION, SECTIONS TEN AND SIXTEEN OF THIS ACT SHALL NOT APPLY TO ANY
33 GRANTS AUTHORIZED UNDER THIS SUBDIVISION.
34 (5) URBAN AND COMMUNITY DEVELOPMENT ASSISTANCE GRANTS PROGRAM. (A)
35 THERE IS HEREBY ESTABLISHED WITHIN THE URBAN AND COMMUNITY DEVELOPMENT
36 PROGRAM, AN URBAN AND COMMUNITY DEVELOPMENT ASSISTANCE GRANTS PROGRAM
37 WHICH SHALL BE USED TO PROVIDE SUPPORT TO LOCAL DEVELOPMENT CORPO-
38 RATIONS, BUSINESS IMPROVEMENT DISTRICTS AND OTHER NOT-FOR-PROFIT ORGAN-
39 IZATIONS FOR ACTIVITIES SET FORTH IN PARAGRAPH (C) OF THIS SUBDIVISION.
40 (B) THE CORPORATION SHALL, WITHIN AVAILABLE APPROPRIATIONS, AWARD SUCH
41 GRANTS TO LOCAL DEVELOPMENT CORPORATIONS, BUSINESS IMPROVEMENT DISTRICTS
42 AND OTHER NOT-FOR-PROFIT ORGANIZATIONS INVOLVED IN COMMERCIAL REVITALI-
43 ZATION ACTIVITIES IN CENTRAL BUSINESS DISTRICTS OR COMMERCIAL STRIPS AND
44 THEIR SURROUNDING AREAS ON A COMPETITIVE BASIS AND IN RESPONSE TO
45 REQUESTS FOR PROPOSALS THAT SHALL BE DISTRIBUTED TO SUCH ORGANIZATIONS
46 BY THE CORPORATION FOR THE PURPOSE OF SOLICITING APPLICATIONS.
47 (C) SUCH ACTIVITIES MAY INCLUDE, BUT NOT BE LIMITED TO:
48 (I) ARCHITECTURAL DESIGN STUDIES AND SERVICES AND OTHER REDEVELOPMENT
49 WORK IN CONNECTION WITH THE DESIGN AND IMPLEMENTATION OF A PLAN FOR
50 FACADE AND OTHER IMPROVEMENTS TO COMMERCIAL STRIPS AND CENTRAL BUSINESS
51 DISTRICTS THROUGHOUT NEW YORK STATE;
52 (II) MARKETING AND PROMOTIONAL ACTIVITIES;
53 (III) JOB PLACEMENT PROGRAMS;
54 (IV) SECURITY ASSISTANCE;
55 (V) ENERGY AUDIT PROGRAMS;
56 (VI) ASSISTANCE IN FORMING BUSINESS IMPROVEMENT DISTRICTS;
S. 1129--A 6
1 (VII) STUDIES, SURVEYS OR REPORTS, INCLUDING FEASIBILITY STUDIES AND
2 PRELIMINARY PLANNING STUDIES TO:
3 (A) ASSESS A PARTICULAR SITE OR STUDY FOR ANY ECONOMIC DEVELOPMENT
4 PURPOSE OTHER THAN RESIDENTIAL;
5 (B) ASSESS THE FEASIBILITY OF ORGANIZING A DISTRICT MANAGEMENT ASSOCI-
6 ATION FOR A BUSINESS IMPROVEMENT DISTRICT;
7 (C) IDENTIFY DEVELOPMENT OPPORTUNITIES WITHIN ESTABLISHED BUSINESS
8 IMPROVEMENT DISTRICTS;
9 (D) CONDUCT FEASIBILITY OR PLANNING STUDIES IN RELATION TO THE ACQUI-
10 SITION, CONSTRUCTION, OR RENOVATION OF COMMERCIAL, INDUSTRIAL OR MIXED-
11 USE FACILITIES OR DEVELOPMENTS; OR
12 (E) ANALYZING THE SPECIFIC NEEDS OF THE COMMUNITY IN ADDITION TO BOTH
13 SHORT-TERM AND LONG-TERM STRATEGIES FOR MEETING THOSE NEEDS.
14 (D) GRANTS MADE UNDER THIS SUBDIVISION SHALL:
15 (I) NOT BE USED FOR SALARIES, PUBLIC IMPROVEMENTS, OR SERVICES
16 CURRENTLY PROVIDED BY THE LOCAL OR STATE GOVERNMENT.
17 (II) BE LIMITED TO FIFTY PERCENT OF THE ACTUAL COST OF THE PROPOSED
18 ACTIVITIES, AND SHALL NOT EXCEED FORTY THOUSAND DOLLARS PER GRANT,
19 EXCEPT THAT FOR PROJECTS LOCATED IN EMPIRE ZONES AND THEIR SURROUNDING
20 AREAS OR IN HIGHLY DISTRESSED AREAS AND THEIR SURROUNDING AREAS SUCH
21 GRANTS MAY BE MADE FOR UP TO SIXTY PERCENT OF PROJECT COSTS.
22 (III) BE LIMITED TO ONE PROJECT GRANT PER YEAR UNDER THIS SUBDIVISION
23 FOR ANY ONE ELIGIBLE NOT-FOR-PROFIT CORPORATION.
24 (E) GRANTS MADE PURSUANT TO SUBPARAGRAPH (I) OF PARAGRAPH (C) OF THIS
25 SUBDIVISION MAY INCLUDE MONIES AVAILABLE FOR INDIVIDUAL PROPERTY OWNERS
26 AND/OR TENANTS WHO AGREE TO IMPROVE THEIR PROPERTY IN ACCORDANCE WITH A
27 FEASIBLE DESIGN PLAN, PROVIDED THAT, SUCH INDIVIDUAL PROPERTY OWNERS
28 AND/OR TENANTS MATCH THE AMOUNT OF ANY GRANT AWARDED TO THEM.
29 (F) TO BE ELIGIBLE FOR GRANTS UNDER THIS SUBDIVISION, APPLICANTS SHALL
30 BE REQUIRED TO DEMONSTRATE THE EXISTENCE OF EFFECTIVE COMMERCIAL REVI-
31 TALIZATION MANAGEMENT IN THE BUSINESS DISTRICT OR COMMERCIAL STRIP WHERE
32 APPROPRIATE.
33 (G) NOTWITHSTANDING ANYTHING CONTAINED TO THE CONTRARY IN THIS SUBDI-
34 VISION, SECTION SIXTEEN OF THIS ACT SHALL NOT APPLY TO ANY GRANTS
35 AUTHORIZED UNDER SUBPARAGRAPH (I) OF PARAGRAPH (C) OF THIS SUBDIVISION,
36 AND SECTION TEN AND SUBDIVISION 2 OF SECTION SIXTEEN OF THIS ACT SHALL
37 NOT APPLY TO SUBPARAGRAPHS (II) THROUGH (VII) OF PARAGRAPH (C) OF THIS
38 SUBDIVISION.
39 (6) URBAN AND COMMUNITY PROJECT DEVELOPMENT PROGRAM. (A) THERE IS
40 HEREBY ESTABLISHED WITHIN THE URBAN AND COMMUNITY DEVELOPMENT PROGRAM AN
41 URBAN AND COMMUNITY PROJECT DEVELOPMENT PROGRAM WHICH SHALL BE USED TO
42 PROVIDE LOANS FOR PROJECTS AS SET FORTH IN PARAGRAPH (B) OF THIS SUBDI-
43 VISION, AND TO PROVIDE PROJECT DEVELOPMENT ASSISTANCE BY THE CORPORATION
44 ACTING AS A PROJECT DEVELOPER PURSUANT TO PARAGRAPH (C) OF THIS SUBDIVI-
45 SION.
46 (B) PROJECT DEVELOPMENT LOANS. (I) THE CORPORATION MAY MAKE LOANS FOR
47 DEVELOPMENT IN CENTRAL BUSINESS DISTRICTS AND COMMERCIAL STRIPS LOCATED
48 IN EMPIRE ZONES DESIGNATED PURSUANT TO ARTICLE 18-B OF THE GENERAL
49 MUNICIPAL LAW, AND THEIR SURROUNDING AREAS, OR IN HIGHLY DISTRESSED
50 AREAS, AND THEIR SURROUNDING AREAS, FOR THE ACQUISITION, RENOVATION,
51 AND CONSTRUCTION OF DEVELOPMENT PROJECTS, OTHER THAN RESIDENTIAL
52 PROJECTS, AUTHORIZED PURSUANT TO AND IN ACCORDANCE WITH THE PROVISIONS
53 OF THIS ACT AND FOR WHICH NO OTHER FUNDS OF THE CORPORATION ARE AVAIL-
54 ABLE WITH THE EXCEPTION OF ANY APPROPRIATION MADE FOR THIS PROGRAM.
55 (II) SUCH PROJECTS SHALL BE RELATED TO THE IMPLEMENTATION OF NECESSARY
56 CONSTRUCTION AND RECONSTRUCTION PROJECTS IDENTIFIED OR PLANNED UNDER
S. 1129--A 7
1 GRANTS RECEIVED PURSUANT TO SUBPARAGRAPHS (I) AND (VII) OF PARAGRAPH (C)
2 OF SUBDIVISION FIVE OF THIS SECTION.
3 (III) LOANS MADE TO DEVELOPERS FOR SUCH CONSTRUCTION OR RECONSTRUCTION
4 SHALL NOT EXCEED FIFTY PERCENT OF TOTAL PROJECT COSTS AND SHALL BE
5 LOCATED IN EMPIRE ZONES DESIGNATED PURSUANT TO ARTICLE 18-B OF THE
6 GENERAL MUNICIPAL LAW OR IN HIGHLY DISTRESSED COMMUNITIES, AND THEIR
7 SURROUNDING AREAS.
8 (IV) PROJECTS INTENDED TO BE PUBLICLY-OWNED SHALL NOT BE ELIGIBLE FOR
9 FINANCIAL ASSISTANCE IN CONNECTION WITH THE ACQUISITION, CONSTRUCTION OR
10 RENOVATION OF A FACILITY OR DEVELOPMENT HEREUNDER UNLESS SUCH PROJECT IS
11 LEASED TO A PRIVATE ENTERPRISE.
12 (C) PROJECT DEVELOPMENT ASSISTANCE. (I) THE CORPORATION MAY ACT AS
13 DEVELOPER IN THE ACQUISITION, RENOVATION, CONSTRUCTION, LEASING OR SALE
14 OF DEVELOPMENT PROJECTS, OTHER THAN RESIDENTIAL PROJECTS, AUTHORIZED
15 PURSUANT TO THIS ACT IN ORDER TO STIMULATE THE DEVELOPMENT OF COMMUNI-
16 TIES.
17 (II) IN ACTING AS A DEVELOPER, THE CORPORATION MAY BORROW FOR
18 PURPOSES OF THIS PARAGRAPH FOR APPROVED PROJECTS IN WHICH THE LENDER'S
19 RECOURSE IS SOLELY TO THE ASSETS OF THE PROJECT, AND MAY MAKE SUCH
20 ARRANGEMENTS AND AGREEMENTS WITH COMMUNITY-BASED ORGANIZATIONS AND LOCAL
21 DEVELOPMENT CORPORATIONS AS REQUIRED TO CARRY OUT THE PURPOSE OF THIS
22 SECTION.
23 (III) PRIOR TO DEVELOPING ANY SUCH PROJECT, THE CORPORATION SHALL
24 SECURE A FIRM COMMITMENT FROM ENTITIES, INDEPENDENT OF THE CORPORATION,
25 FOR EITHER PURCHASE OR LEASE OF SUCH PROJECTS.
26 (IV) PROJECTS AUTHORIZED UNDER THIS PARAGRAPH WHETHER DEVELOPED BY
27 THE CORPORATION OR A PRIVATE DEVELOPER, MUST BE LOCATED IN EITHER
28 STATE-DESIGNATED EMPIRE ZONES OR IN HIGHLY DISTRESSED COMMUNITIES.
29 (V) THE CORPORATION, FOR PURPOSES OF THIS PARAGRAPH SHALL ONLY SELECT
30 PROJECTS THAT HAVE PROJECT COSTS ESTIMATED TO BE BETWEEN ONE MILLION
31 DOLLARS AND THREE MILLION DOLLARS OF WHICH THE CORPORATION'S PARTIC-
32 IPATION SHALL NOT EXCEED SIXTY PERCENT OF THE TOTAL AND FOR WHICH THERE
33 IS AN ECONOMIC DEMAND FOR THE PROJECT IN THE PARTICULAR COMMUNITY.
34 (D) THE CORPORATION SHALL SELECT POTENTIAL PROJECTS UNDER THIS SUBDI-
35 VISION THROUGH A COMPETITIVE PROCESS SUCH AS A REQUEST FOR PROPOSAL
36 PROCESS DISTRIBUTED TO LOCAL DEVELOPMENT CORPORATIONS AND OTHERS IN SUCH
37 COMMUNITIES.
38 (E) THE CORPORATION SHALL:
39 (I) DETERMINE WHETHER A FEASIBILITY STUDY IS NECESSARY TO FURTHER
40 ANALYZE SELECTED PROJECTS;
41 (II) RECOMMEND APPLICATION OF SUCH PROJECTS TO THE URBAN AND COMMUNITY
42 DEVELOPMENT ASSISTANCE GRANTS PROGRAM PURSUANT TO SUBDIVISION FIVE OF
43 THIS SECTION FOR FUNDING, IF APPROPRIATE, OR CONDUCT A FEASIBILITY ANAL-
44 YSIS ITSELF; AND
45 (III) IN ACCORDANCE WITH RULES AND REGULATIONS TO BE PROMULGATED BY
46 THE CORPORATION, DETERMINE WHICH PROJECTS WILL BE DEVELOPED.
47 (7) URBAN AND COMMUNITY TRAINING AND TECHNICAL ASSISTANCE PROGRAM.
48 THERE IS HEREBY ESTABLISHED WITHIN THE URBAN AND COMMUNITY DEVELOPMENT
49 PROGRAM AN URBAN AND COMMUNITY TRAINING AND TECHNICAL ASSISTANCE
50 PROGRAM. THE CORPORATION SHALL, FROM APPROPRIATIONS MADE AVAILABLE FOR
51 THESE PURPOSES:
52 (A) PROVIDE TECHNICAL ASSISTANCE FOR COMMERCIAL REVITALIZATION
53 PROGRAMS, INCLUDING ESTABLISHING AND IMPLEMENTING A TRAINING PROGRAM FOR
54 BUSINESS DISTRICT STREET COORDINATORS, WHO REQUEST OR WHO ARE REQUESTED
55 BY THE CORPORATION, TO UNDERGO SUCH TRAINING PURSUANT TO SUBDIVISION
56 FOUR OF THIS SECTION.
S. 1129--A 8
1 (B) CONDUCT ON-SITE SURVEYS OF BUSINESS DISTRICTS IN ECONOMICALLY
2 DISTRESSED AREAS, MONITOR AND ASSIST COMMUNITIES FORMING BUSINESS
3 IMPROVEMENT DISTRICTS, AND ORGANIZE AND COORDINATE SEMINARS AND CONFER-
4 ENCES TO FACILITATE THE EXCHANGE OF INFORMATION REGARDING COMMERCIAL
5 REVITALIZATION STRATEGIES.
6 (C) DEVELOP THE CAPACITY OF URBAN AND COMMUNITY ORGANIZATIONS TO
7 UNDERTAKE ECONOMIC DEVELOPMENT INITIATIVES THROUGH:
8 (I) CONDUCTING OUTREACH TO COMMUNITIES IN AREAS WHERE LITTLE, IF ANY,
9 ECONOMIC DEVELOPMENT CAPACITY EXISTS, INCLUDING UNDERTAKING, WHERE NEED-
10 ED, PROJECT PLANNING AND MANAGEMENT FOR SUCH COMMUNITIES TO IMPLEMENT
11 SPECIFIC PROJECTS.
12 (II) PROVIDING ASSISTANCE TO SUCH COMMUNITIES, WHERE NECESSARY, IN
13 ORGANIZING FOR ECONOMIC DEVELOPMENT, ANALYZING POTENTIAL DEVELOPMENT
14 OPPORTUNITIES OR OBSTACLES TO DEVELOPMENT, AND DEVELOPING ECONOMIC
15 DEVELOPMENT STRATEGIES.
16 (III) PROVIDING TRAINING AND TECHNICAL AND FINANCIAL PACKAGING ASSIST-
17 ANCE TO NOT-FOR-PROFIT COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT
18 ORGANIZATIONS, EITHER DIRECTLY BY THE CORPORATION, INCLUDING THE DEPLOY-
19 MENT OF CIRCUIT RIDERS TO PROVIDE ONGOING ASSISTANCE, AND THROUGH GRANTS
20 TO NOT-FOR-PROFIT THIRD PARTY PROVIDERS OF SUCH SERVICES.
21 (IV) CONTRACTING WITH NOT-FOR-PROFIT THIRD PARTIES FOR THE PURPOSE OF
22 PROVIDING TECHNICAL ASSISTANCE TO MUNICIPALITIES, NOT-FOR-PROFIT ORGAN-
23 IZATIONS, LOCAL DEVELOPMENT CORPORATIONS, LOCAL EMPIRE ZONE ADMINISTRA-
24 TIVE BOARDS, OR BUSINESS IMPROVEMENT DISTRICTS TO ANALYZE POTENTIAL
25 DEVELOPMENT OPPORTUNITIES OR OBSTACLES.
26 (V) ESTABLISH A COMMUNITY REVITALIZATION ECONOMIC SELF-HELP PROGRAM TO
27 ASSIST PUBLIC OFFICIALS, COMMUNITY LEADERS, ECONOMIC DEVELOPMENT AND
28 COMMUNITY GROUPS TO UNDERTAKE AN ECONOMIC DEVELOPMENT PLANNING PROCESS
29 AND TO ORGANIZE FOR ECONOMIC DEVELOPMENT.
30 (A) ELIGIBLE APPLICANTS FOR ASSISTANCE UNDER THIS PARAGRAPH SHALL
31 CONSIST OF A MUNICIPALITY OR A CONSORTIUM OF MUNICIPALITIES FROM A
32 REGION OF THE STATE, SUCH REGIONS AS ESTABLISHED BY THE COMMISSIONER OF
33 THE DEPARTMENT OF ECONOMIC DEVELOPMENT PURSUANT TO SECTION 230 OF THE
34 ECONOMIC DEVELOPMENT LAW.
35 (B) EACH TRAINING PROGRAM SHALL REQUIRE EACH PARTICIPATING MUNICI-
36 PALITY TO:
37 (1) ESTABLISH AN ECONOMIC DEVELOPMENT PLANNING GROUP;
38 (2) UNDERTAKE A COMMUNITY PROFILE AND NEEDS ASSESSMENT;
39 (3) UNDERTAKE LABOR MARKET AND RESOURCE SURVEYS; AND
40 (4) PRODUCE A FIVE-YEAR STRATEGIC PLAN AND A ONE-YEAR WORK PROGRAM.
41 (C) REQUESTS FROM MUNICIPALITIES OR CONSORTIA OF MUNICIPALITIES FOR
42 TECHNICAL ASSISTANCE UNDER THIS SECTION SHALL BE MADE DIRECTLY TO THE
43 CORPORATION OR THROUGH THE REGIONAL OFFICES OF THE DEPARTMENT OF ECONOM-
44 IC DEVELOPMENT.
45 (D) THE CORPORATION IS AUTHORIZED TO ENTER INTO COOPERATIVE AGREE-
46 MENTS WITH STATEWIDE AND REGIONAL ECONOMIC DEVELOPMENT ORGANIZATIONS IN
47 NEW YORK STATE, ACTING AS CONSULTANTS, TO CONDUCT JOINT TRAINING
48 PROGRAMS TO TRAIN AND EDUCATE LOCAL OFFICIALS AND ECONOMIC DEVELOPMENT
49 PRACTITIONERS PURSUANT TO THIS PARAGRAPH. ANY CONTRACT FOR SERVICES WITH
50 SUCH ORGANIZATIONS SHALL NOT EXCEED THE SUM OF FIFTY THOUSAND DOLLARS
51 FOR THE CONDUCT OF EACH TRAINING PROGRAM.
52 (E) PARTICIPATING MUNICIPALITIES SHALL BE REQUIRED TO PROVIDE MATCHING
53 FUNDS IN AN AMOUNT AT LEAST EQUAL TO ANY FUNDS PROVIDED BY THE CORPO-
54 RATION UNDER SUBDIVISION FOUR OF THIS SECTION.
55 (F) THE CORPORATION SHALL, FOR ASSISTANCE PROVIDED IN THIS PROGRAM,
56 DEVELOP AND USE STANDARD PROJECT PROGRAM APPLICATIONS PURSUANT TO RULES
S. 1129--A 9
1 AND REGULATIONS, WHICH SHALL BE PROMULGATED BY THE CORPORATION IN
2 ACCORDANCE WITH THE STATE ADMINISTRATIVE PROCEDURE ACT. RULES AND REGU-
3 LATIONS SHALL BE CONSISTENT WITH THE PROGRAM PLAN REQUIRED BY SUBDIVI-
4 SION 19 OF SECTION 100 OF THE ECONOMIC DEVELOPMENT LAW.
5 (8) THE DIRECTOR OF THE BUDGET SHALL NOT ISSUE ANY CERTIFICATE OF
6 APPROVAL OF AVAILABILITY UNTIL THE CORPORATION HAS ENTERED INTO A WRIT-
7 TEN MASTER AGREEMENT WITH THE DIRECTOR OF THE BUDGET PROVIDING FOR
8 REPAYMENT BY SUCH CORPORATION TO THE STATE OF NEW YORK OF ALL AMOUNTS
9 EXPENDED BY THE STATE FROM SUCH APPROPRIATION FOR LOANS, ON TERMS WHICH
10 MAY INCLUDE INTEREST THEREON AT A RATE PER ANNUM TO BE DETERMINED BY THE
11 DIRECTOR OF THE BUDGET AND A COPY OF SUCH AGREEMENT SHALL BE FILED WITH
12 THE STATE COMPTROLLER, THE CHAIRMAN OF THE SENATE FINANCE COMMITTEE AND
13 THE CHAIRMAN OF THE ASSEMBLY WAYS AND MEANS COMMITTEE.
14 (9) THE STATE COMPTROLLER IS HEREBY AUTHORIZED TO RECEIVE FROM THE
15 CORPORATION REIMBURSEMENT OF MONEYS EXPENDED FROM THIS APPROPRIATION AND
16 TO DEPOSIT THE SAME TO THE CREDIT OF THE CAPITAL PROJECTS FUND.
17 (10) THE CORPORATION SHALL STREAMLINE THE REVIEW AND APPROVAL PROCESS
18 FOR PROJECTS AND WHEREVER POSSIBLE STANDARDIZE ALL RELEVANT ATTENDANT
19 DOCUMENTATION AND LEGAL DOCUMENTS.
20 (11) NOTWITHSTANDING THE PROVISIONS OF SECTION 40-A OF THE STATE
21 FINANCE LAW AND ANY OTHER GENERAL OR SPECIAL LAW, SUCH WRITTEN AGREEMENT
22 SHALL NOT REQUIRE REPAYMENT AT ANY TIME OR ON ANY TERMS INCONSISTENT
23 WITH THE PROVISIONS OF THIS ACT OR THE NEW YORK STATE PROJECT FINANCE
24 AGENCY ACT. EXCEPT, HOWEVER, THAT THE CORPORATION MAY MAKE GRANTS TO
25 PROJECTS USING FUNDS APPROPRIATED FOR THIS PURPOSE AND THAT THE REPAY-
26 MENT PROVISION MAY NOT APPLY TO SUCH GRANTS.
27 (12) REPORT. THE CORPORATION SHALL: (A) MONITOR THE PERFORMANCE OF
28 EACH RECIPIENT OF A GRANT OR CONTRACT UNDER THE PROVISIONS OF THIS ARTI-
29 CLE AND REQUIRE PERIODIC AND ANNUAL REPORTS FROM EACH SUCH RECIPIENT AT
30 SUCH TIME AND IN SUCH A MANNER AS PRESCRIBED BY THE CHAIRMAN.
31 (B) EVALUATE THE URBAN AND COMMUNITY ECONOMIC DEVELOPMENT PROGRAM
32 REPORT, ON OR BEFORE OCTOBER FIRST NEXT SUCCEEDING THE EFFECTIVE DATE OF
33 THIS SUBDIVISION, AND ON OR BEFORE EACH OCTOBER FIRST THEREAFTER, THE
34 RESULTS OF SUCH EVALUATION TO THE GOVERNOR AND THE LEGISLATURE. SUCH
35 REPORT SHALL DISCUSS THE VARIETY AND TYPES OF PROGRAMS SUPPORTED BY THE
36 CORPORATION UNDER THIS PROGRAM; AND, AS APPROPRIATE, THE EXTENT TO WHICH
37 THE PROGRAM HAS SERVED TO CREATE AND MAINTAIN JOBS; THE EXTENT TO WHICH
38 THE PROGRAM HAS HELPED TO INCREASE THE VITALITY OF LOCAL COMMUNITIES;
39 THE EXTENT TO WHICH THE PROGRAM IS COORDINATED WITH OTHER RELATED STATE
40 AND LOCAL ASSISTANCE PROGRAMS; THE EXTENT TO WHICH THE PROGRAM SERVES
41 MINORITIES AND WOMEN; THE EXTENT TO WHICH THE PROGRAM SERVES URBAN AND
42 RURAL AREAS; THE EXTENT TO WHICH THE PROGRAM SERVES ECONOMICALLY
43 DISTRESSED AND HIGHLY DISTRESSED AREAS; THE EXTENT TO WHICH THE PROGRAM
44 HAS HELPED TO INCREASE THE CAPACITY OF LOCAL GOVERNMENTS AND ORGANIZA-
45 TIONS TO UNDERTAKE ECONOMIC DEVELOPMENT ACTIVITIES; AND SUCH OTHER
46 COMPONENTS AS THE COMMISSIONER SHALL DEEM APPROPRIATE; AND SHALL RECOM-
47 MEND CHANGES AND IMPROVEMENTS IN THE PROGRAM.
48 (C) SUBMIT TO THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY AND THE TEMPO-
49 RARY PRESIDENT OF THE SENATE, AN EVALUATION OF PROGRAM EFFECTIVENESS
50 PREPARED BY AN ENTITY INDEPENDENT OF THE DEPARTMENT. SUCH EVALUATION
51 SHALL BE SUBMITTED BY OCTOBER FIRST TWO YEARS AFTER THE EFFECTIVE DATE
52 OF THIS SUBDIVISION AND SHALL INCLUDE, BUT NOT BE LIMITED TO, INFORMA-
53 TION ON AND ASSESSMENT OF THE COMPONENTS REQUIRED TO BE INCLUDED IN THE
54 ANNUAL REPORT OF THE CORPORATION, PURSUANT TO THIS SUBDIVISION.
55 S 4. This act shall take effect on the first of April next succeeding
56 the date on which it shall have become a law.
