New York Laws
Title 11 - Troy Industrial Development Authority
1953-A - Additional Prerequisites to the Provision of Financial Assistance.

§ 1953-a. Additional prerequisites to the provision of financial
assistance. Prior to providing any financial assistance of more than one
hundred thousand dollars to any project, the authority must comply with
the following prerequisites:

1. The authority must adopt a resolution describing the project and
the financial assistance that the authority is contemplating with
respect to such project. Such assistance shall be consistent with the
uniform tax exemption policy adopted by the agency pursuant to
subdivision one of section nineteen hundred sixty-three-a of this
chapter, unless the agency has followed procedures for deviation from
such policy specified in subdivision two of such section.

1-a. The authority shall deliver a copy of the resolution adopted
pursuant to subdivision one of this section by certified mail, return
receipt requested or an electronic correspondence with a read receipt,
to the chief executive officer of each affected tax jurisdiction. When
the affected tax jurisdiction is a school district, the authority shall
deliver a copy of such resolution by certified mail, return receipt
requested or an electronic correspondence with a read-receipt, to the
district clerk and district superintendent of each affected school
district.

2. The authority must hold a public hearing with respect to the
project and the proposed financial assistance being contemplated by the
authority. At said public hearing, interested parties shall be provided
reasonable opportunity, both orally and in writing, to present their
views with respect to the project.

3. The authority must give at least ten days published notice of said
public hearing and shall, at the same time, provide notice of such
hearing to the chief executive officer of the affected tax jurisdiction
within which the project is located. The notice of hearing must state
the time and place of the hearing, contain a general, functional
description of the project, describe the prospective location of the
project, identify the initial owner, operator or manager of the project
and generally describe the financial assistance contemplated by the
authority with respect to the project.

4. The authority shall establish a procedure for compliance with the
notification requirements, including identification of the notification
method, under subdivision one-a of this section and subdivision two of
section nineteen hundred sixty-three-a of this title.