N.Y. Comp. Codes R. & Regs. tit. 21 § 4230.16

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

Section 4230.16 - Miscellaneous

(a) Confidentiality. To the extent permitted by law, all information regarding the financial condition, marketing plans, manufacturing processes production costs, customer lists, or other trade secrets and proprietary information of a person or entity requesting program assistance, which is submitted by such person or entity to the corporation in connection with an application for such assistance, shall be confidential and exempt from public disclosures.

(b) Affirmative action. The affirmative action department of the corporation shall develop an affirmative action program in connection with each provision of program assistance in consultation with the recipient of such assistance and any other involved party and in compliance with all applicable laws. Compliance with provisions of law prohibiting discrimination in employment or hiring on the basis of age, race, creed, color, national origin, sex, disability or marital status, shall be required.

(c) Employment opportunities. Except as provided in section 4230.6(g)(4) of this Part, each recipient of program assistance for a project that is intended to create at least 50 jobs and that involves financing by the corporation in the amount of $100,000 or more must agree to consider, for new employment opportunities generated by the project, individuals on public assistance and those eligible to participate in Federal Job Training Partnership Act programs.

(d) Use of consultants. Applicants must indicate whether a consultant has been utilized in the formulation and/or preparation of their project proposals and/or application for program assistance. No consultant so employed may charge a fee, nor shall any applicant pay a fee or agree to pay a fee, contingent upon the applicant obtaining program assistance.

(e) Plant closing notification policy. The corporation's policy is to encourage employers that receive significant assistance from the State to agree to provide notification of any plant closing or major layoff. The recipients of $100,000 or more of financial assistance from the corporation which are expected to have an employment level of 50 or more persons at the project site within one year of the disbursement of the program assistance will be encouraged to give a minimum of 90 days' notice to its employees and UDC prior to the reduction of its permanent workforce over a one-year period by the greater of:

(1) 50 employees; or

(2) 50 percent of its workforce.

(f) Interest rate adjustment policy. Recipients of financial assistance from the corporation in an amount equal to or greater than $100,000, for a term of three years or more and which are expected to employ 50 or more permanent employees by a projected employment date, shall be subject to the corporation's interest rate adjustment policy for the program. In the event such recipient's workforce falls short of the projected workforce on the projected employment date by a percentage of 15 percent or more, then the interest rate for the UDC financial assistance shall be increased to a rate equal to two percent above the prevailing prime interest rate at the time of the increase. Interest rate adjustments, if any, will be made on an annual basis.

(g) Fees. In consideration of the below-market interest rate offered on program loans made directly by the corporation and in consideration of the credit enhancement provided by UDC loan guarantees, the recipient of such a loan or the beneficiary of a loan guarantee shall pay the corporation, at closing, a closing fee of up to.75 percent of the amount of the loan or the loan guaranty, as the case may be. In addition, the recipient of such a loan or the beneficiary of a loan guaranty shall generally be obligated to reimburse the corporation (except in the case where the recipient demonstrates that such reimbursement will significantly impair the feasibility of the project) for expenses related to the provision of such loan or loan guaranty including, but not limited to, out-of-pocket expenses related to credit searches, appraisals, surveys, title insurance, filing fees and other expenses and the cost of the professional services actually needed by the recipient or beneficiary.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 4230.16