N.Y. Comp. Codes R. & Regs. tit. 21 § 4247.2

Current through Register Vol. 46, No. 50, December 11, 2024

Section 4247.2 - Definitions

For the purposes of this Part, the terms below should have the following meanings:

(a) The act shall mean the New York State Urban Development Corporation Act, added by chapter 174 of the Laws of 1968 (as amended).

(b) The corporation shall mean the Upstate Empire State Development Corporation, a subsidiary of the New York State Urban Development Corporation.

(c) Distressed communities shall mean areas as determined by the corporation meeting criteria indicative of economic distress, including land value, employment rate, rate of employment change, private investment, economic activity, percentages and numbers of low income persons, per capita income and per capita real property wealth, and such other indicators of distress as the corporation shall determine.

(d) Not-for-profit corporation shall mean a corporation organized under the provisions of the Not-For-Profit Corporation Law.

(e) Upstate New York shall mean the geographical area defined by the chairperson of the Urban Development Corporation, in consultation with the chairperson of the corporation or if no such chairperson is appointed, the president of the corporation, subject to approval by the board of directors of the Urban Development Corporation. The approved geographical area will be disseminated to eligible parties by the Urban Development Corporation's regional offices at the time of approval.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 4247.2