Title UDA, Urban Development Corporation Act 174/68

§ 1. Short title. This act shall be known and may be cited as the "New\nYork state urban development corporation act".\n

§ 10. Findings of the corporation. Notwithstanding any other provision\nof this act, the corporation shall not be empowered to undertake the\nacquisition, construction, reconstruction, rehabilitation or improvement\nof a project unless the corporation finds:\n (a) in the case of…

§ 11. Construction contracts. (1) Construction contracts let by the\ncorporation shall be in conformity with the applicable provisions of\nsection one hundred thirty-five of the state finance law, provided,\nhowever, that construction contracts let by subsidiaries of the\ncorpor…

§ 12. Subsidiaries: how created. (1) The corporation shall have the\nright to exercise and perform its powers and functions through one or\nmore subsidiary corporations. The corporation by resolution may direct\nany of its directors, officers or employees to organize a subsidiar…

§ 13. Acquisition of real property. The corporation, upon making a\nfinding that it is necessary or convenient to acquire any real property\nfor its immediate or future use, may acquire such property in any lawful\nmanner, pursuant to the provisions of the eminent domain procedu…

§ 13-a. Conveyance of state lands. The commissioner of general\nservices shall have power, in his discretion, from time to time to grant\nand convey to the corporation, upon such terms and conditions including\nconsideration as the commissioner of general services may fix and\nd…

§ 14. Acquisition of real property from a municipality or an urban\nrenewal agency. (1) Notwithstanding anything to the contrary contained\nin article fifteen or article fifteen-A of the general municipal law or\nin any general, special or local law applicable to the sale of rea…

§ 15. Special provisions relating to residential projects. (1)\nNotwithstanding any provision of law to the contrary, whenever a\nresidential project is owned by or leased to a subsidiary which is a\nlimited profit housing company, or is sold or leased to a limited profit\nhousi…

§ 16. Cooperation with municipalities. (1) In effectuating the\npurposes of this act, the corporation and community advisory committees\ncreated pursuant to section four of this act shall work closely, consult\nand cooperate with local elected officials and community leaders at …

§ 16-a. Regional revolving loan program. (1) The corporation shall\nestablish a fund to be known as the "regional revolving loan trust fund"\nand shall pay into such fund any monies made available to the\ncorporation for such fund from any source. The monies held in or\ncredited…

§ 16-aa. Life sciences initiatives program. The life sciences\ninitiatives program is hereby established for the purpose of attracting\nnew life sciences technologies, to promote critical public and private\nsector investment in emerging life sciences fields in New York state,\n…

§ 16-b. Job retention and defense industry working capital loan\nprogram. (1) Program established. The corporation shall establish the\njob retention and defense industry working capital loan program for the\npurpose of establishing an economic development working capital\nrevol…

§ 16-c. Minority- and women-owned business development and lending\nprogram.\n (1) Minority- and women-owned business development and lending\nprogram. (a) There is hereby created a minority- and women-owned\nbusiness development and lending program for the purpose of providing\…

§ 16-d. Urban and community development program. (1) Definitions. For\nthe purposes of this section:\n (a) "Business improvement district" shall mean a special assessment\ndistrict established pursuant to article nineteen-A of the general\nmunicipal law.\n (b) "Business district…

§ 16-dd. Community development revolving loan program. 1. Definitions.\nAs used in this section, the following terms shall have the following\nmeanings:\n (a) "Community development financial institution" means an\norganization whose principal office is located in this state, wh…

§ 16-e. Regional economic development partnership program. (1) For the\npurposes of this section, the following words and terms shall have the\nfollowing meanings:\n (a) "Business development project". A project involving an industrial,\nmanufacturing, commercial, research and d…

§ 16-ee. Loans to social and economic equity applicants. The\ncorporation is authorized, on the recommendation of the state cannabis\ncontrol board, to provide low interest or zero-interest loans to\nqualified social and economic equity applicants and to provide funds\nnecessary…

§ 16-f. Bonding guarantee assistance program. (1) Program created.\nThere is hereby created a state bonding guarantee assistance program to\nenable small businesses, and minority-owned and women-owned business\nenterprises, certified as a minority-owned or women-owned business\n…

§ 16-ff. COVID-19 pandemic small business recovery grant program. 1.\nDefinitions. As used in this section, the following terms shall have the\nfollowing meanings:\n (a) "Small business" shall mean a business which is resident in this\nstate, independently owned and operated, no…

§ 16-g. Child care facilities construction program. 1. Definitions.\nFor the purposes of this section:\n (a) "Child care facilities construction project" shall mean a project\nfor the establishment, expansion, and development of licensed\nnot-for-profit child day care centers wh…

* § 16-gg. Small business seed funding grant program. 1. Definitions.\nAs used in this section, the following terms shall have the following\nmeanings:\n (a) "Small business" shall mean a business which is resident in this\nstate, independently owned and operated, not dominant i…

* § 16-gg. Division of Broadband Access. 1. Statement of Legislative\nfindings and purpose. The legislature hereby finds and declares that:\naccess to high-speed, reliable, and affordable broadband is essential\nfor education, economic growth, and full participation in civic lif…

§ 16-h. The JOBS Now program is hereby created. 1. Funds of this\nprogram, within available appropriations, shall be available to any\nregional partnership, as provided in section 3154 of the public\nauthorities law, eligible business expansion or attraction project: (a)\nJob cr…

* § 16-hh. Small business and entrepreneurs grant program. 1. The\ncorporation shall establish and support, within available\nappropriations, the small business and entrepreneurs grant program, as a\ntwo-year pilot initiative of the corporation, to award grants of up to\ntwenty-…

* § 16-i. The empire state economic development fund. 1. The empire\nstate economic development fund is hereby created. The corporation is\nauthorized, within available appropriations, to provide financial,\ntechnical or other assistance from such fund for the following: (a)\nLo…

§ 16-ii. Empire AI consortium reports. Beginning May first, two\nthousand twenty-seven, and annually thereafter, the corporation shall\nprepare and publish on its website, an annual report on the empire AI\nresearch institute at the university of Buffalo. Such report shall\nincl…

§ 16-j. Strategic training alliance program. 1. Program created.\nPursuant to this section and article 24-A of the labor law there is\nhereby established within the corporation and the department of labor a\nstrategic training alliance program to identify and address employer\nd…

§ 16-k. Capital access program. 1. Definitions. For the purposes of\nthis section:\n (a) "Financial institution", means any bank, trust company, savings\nbank, savings and loan association or cooperative bank chartered by the\nstate or any national banking association, federal s…

§ 16-l. Rural revitalization program. 1. Statement of legislative\nintent. The legislature finds that vast areas of rural New York state\nshow signs of severe economic distress and lag behind the rest of the\nstate in employment growth and income, with the gap widening with\npas…

* § 16-m. The empire state economic development fund. 1. The empire\nstate economic development fund is hereby created. The corporation is\nauthorized, within available appropriations, to provide financial,\ntechnical or other assistance from such fund for the following: (a)\nLo…

* § 16-n. Restore New York's Communities Initiative. 1. Definitions.\n(a) For the purposes of this section "deconstruction" shall mean the\ncareful disassembly of buildings of architectural or historic\nsignificance with the intent to rehabilitate, reconstruct the building\nor s…

* § 16-n. Collection of payments in lieu of taxes pursuant to leases\nwith respect to parcels within the Brooklyn bridge park civic project.\n(1) Definitions. As used in this section:\n (a) "tenant" shall mean any individual, partnership, trust, limited\nliability company, publi…

§ 16-o. The community development financial institutions program. 1.\nLegislative intent. The legislature hereby finds that credit, banking\nservices, and investment capital are vital to the revitalization of\ncommunities and neighborhoods throughout the state. The legislature\n…

§ 16-p. The investment opportunity fund. 1. Definitions. For the\npurposes of this section, the following terms, whenever used or referred\nto in this section, shall apply, but not be limited to, the following\nmeanings:\n (a) "Cost" as applied to a project or portion thereof fi…

§ 16-q. The upstate regional blueprint fund. 1. The upstate regional\nblueprint fund is hereby created. The upstate empire state development\ncorporation is authorized to provide financial, product development, or\nother assistance from such fund to eligible entities as set fort…

§ 16-r. The downstate revitalization fund. 1. The downstate\nrevitalization fund is hereby created. The corporation is authorized,\nwithin available appropriations, to provide financial, project\ndevelopment, or other assistance from such fund to eligible entities as\nset forth …

§ 16-s. The upstate agricultural economic development fund and healthy\nfood / healthy communities initiative. 1. The upstate agricultural\neconomic development fund and healthy food / healthy communities\ninitiative is hereby created. The corporation is authorized, within\navai…

§ 16-t. Small business revolving loan fund. 1. The small business\nrevolving loan fund program is hereby created. The corporation is\nauthorized, within available appropriations, to provide low interest\nloans to community development financial institutions, in order to\nprovide…

§ 16-u. Innovate NY fund. 1. The Innovate NY fund is hereby created.\nThe purpose of the Innovate NY fund is to make available state funds to\neligible applicants to support emerging business ideas and products that\nresult in the growth of business within the state and the conc…

§ 16-v. New York state business incubator and innovation hot spot\nsupport act. 1. (a) The corporation is authorized, within available\nappropriations, to issue requests for proposals once per fiscal year to\nprovide grants pursuant to subdivisions five and six of this section f…

§ 16-w. Beginning farmers NY fund. 1. The beginning farmers NY fund is\nhereby created. The purpose of the beginning farmers NY fund is to make\ngrants to eligible applicants, to support beginning farmers and\nencourage them to consider farming as a career, resulting in the grow…

* § 16-x. Dairy promotion act. 1. Declaration of policy. (a) It is\nhereby declared that the mission of the corporation is to promote a\nvigorous and growing state economy. In implementing this mission, the\ncorporation has undertaken a vigorous campaign to market the state's\na…

* § 16-y. Marketing of agricultural products. Declaration of policy.\n(a) It is hereby declared that the mission of the corporation is to\npromote a vigorous and growing state economy. In implementing this\nmission, the corporation has undertaken a vigorous campaign to market\nt…

* § 16-z. Marketing orders. The marketing orders, the regulatory\nprovisions relating thereto, set forth in title one of the official\ncompilation of codes, rules and regulations of the state of New York\nparts 40, 200, 201, 202, 203, 204, and 205, and the contracts relating\nth…

§ 17. Bonds and notes of the corporation. (1) Subject to the\nprovisions of section eighteen of this act, the corporation shall have\nthe power and is hereby authorized from time to time to issue its\nnegotiable bonds and notes in conformity with applicable provisions of\nthe un…

§ 18. Bond authorization. The corporation shall not issue bonds and\nnotes in an aggregate principal amount exceeding one billion two hundred\nninety-five million dollars, excluding (1) bonds and notes issued to\nrefund or otherwise repay outstanding bonds and notes of the corpo…

§ 19. Security for bonds or notes; construction and acquisition of\nprojects. (1) The principal of and interest on any bonds or notes issued\nby the corporation may be secured by a pledge of any revenues and\nreceipts of the corporation and may be secured by a mortgage or other\…

§ 2. Statement of legislative findings and purposes. It is hereby\nfound and declared that there exists in urban areas of this state a\ncondition of substantial and persistent unemployment and underemployment\nwhich causes hardship to many individuals and families, wastes vital\…

§ 20. Reserve funds and appropriations. (1) The corporation may create\nand establish one or more reserve funds to be known as debt service\nreserve funds and may pay into such reserve funds (a) any moneys\nappropriated and made available by the state for the purposes of such\nf…

§ 21. Trust funds. All moneys received pursuant to the authority of\nthis act, whether as proceeds from the sale of bonds or notes or as\nrevenues, receipts or income, shall be deemed to be trust funds to be\nheld and applied solely as provided in the proceedings under which suc…