New York Laws
Sub Title 4 - Subtitle Iv Financial Assistance Generally
1827 - Loans for Multi-Tenant Facilities.

§ 1827. Loans for multi-tenant facilities. When in the judgment of the
authority a need exists for additional space for industrial,
manufacturing, research and development use or other eligible business
facilities in an area of the state, it may make a loan to a local
development corporation or issue a loan guarantee to a banking
organization to assist in financing a project for a business enterprise
which proposes to lease the project to two or more tenants to be used
for manufacturing, industrial or research and development purposes, or
to be used as an eligible business facility, provided that the authority
shall make a finding in lieu of the findings referred to in section
eighteen hundred twenty-six, that such business enterprise is
financially responsible and presumptively able to comply with any lease,
mortgage or other agreement made by it with the authority, banking
organization or a local development corporation in connection with the
project.

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