New York S10270 repeals the requirement for projects to be in highly distressed areas to qualify for financial assistance from an industrial.
New York S10270 repeals provisions that mandated projects be located in highly distressed areas to qualify for certain financial assistance from an industrial development agency. The bill amends the general municipal law to allow financial assistance for projects where retail sales facilities constitute more than one-third of the total project cost, provided the project aims to make goods or services reasonably accessible or is located in a highly distressed area. The changes take effect immediately.
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