2006 New York Code - Definitions.

 
    §  1951.  Definitions.  As used or referred to in this title, unless a
  different meaning clearly appears from the context:
    1. The term "authority" shall mean  the  Troy  Industrial  Development
  Authority,  the  corporation  created by section nineteen hundred two of
  this title;
    2. The term "board" shall mean the members of the authority;
    3. The term "city" shall mean the city of Troy;
    4. The term "bonds" shall mean the bonds, notes, interim  certificates
  and  other  obligations  or  evidences  of  indebtedness  issued  by the
  authority pursuant to this title;
    * 5. The term "project" shall mean any land in one or  more  areas  of
  the  city  and  any  building,  structure, facility or other improvement
  thereon, including, but not limited to machinery and equipment  and  all
  real  and  personal  property  deemed necessary in connection therewith,
  whether or not now in existence or under construction,  which  shall  be
  necessary  or  suitable for manufacturing, warehousing, research, civic,
  commercial or industrial purposes and  which  may  include  or  mean  an
  industrial pollution control facility or a civic facility.
    * NB Effective until July 2, 2006
    * 5.  The  term  "project" shall mean any land in one or more areas of
  the city and any building,  structure,  facility  or  other  improvement
  thereon,  including,  but not limited to machinery and equipment and all
  real and personal property deemed  necessary  in  connection  therewith,
  whether  or  not  now in existence or under construction, which shall be
  necessary  or  suitable  for   manufacturing,   warehousing,   research,
  commercial  or  industrial  purposes  and  which  may include or mean an
  industrial pollution control facility.
    * NB Effective July 2, 2006
    6. The term "project occupant" shall mean the industrial manufacturing
  or commercial enterprise which proposes to use a project, as defined  in
  subdivision five of this section, undertaken by the authority.
    7.  The  term "revenues" shall mean any revenues, rents, fees or other
  charges derived by or on behalf of the authority from any project.
    8. The term "state" shall mean the state of New York.
    9. The term "industrial pollution control  facility"  shall  mean  any
  equipment,  improvement,  structure  or  facility  or  any  land and any
  building, structure, facility  or  other  improvement  thereon,  or  any
  combination thereof, and all real and personal property deemed necessary
  therewith,  which  are  not  of  a  character or nature then or formerly
  furnished or supplied by the city, having to do with or the end  purpose
  of  which is the control, abatement or prevention of land, sewer, water,
  air,  noise  or  general  environmental  pollution  deriving  from   the
  operation  of  industrial,  manufacturing,  warehousing,  commercial and
  research facilities, including, but not limited  to  any  air  pollution
  control  facility,  noise abatement facility, water management facility,
  waste water collecting  system,  waste  water  treatment  works,  sewage
  treatment  works system, sewage treatment system or solid waste disposal
  facility or site.
    * 10. The term "civic facility" shall mean any facility that shall  be
  owned or occupied by a not-for-profit corporation organized and existing
  under the laws of this state or authorized to conduct activities in this
  state.  Such  facilities  shall  not include convention centers, housing
  facilities,  dormitories  for  educational   institutions,   or   roads,
  buildings,  water systems, sewer systems, or any public facility for use
  by a municipality in the performance of its  governmental  functions  or
  medical  facilities  that  are  predominantly  used  for the delivery of
  medical services, except that such facilities shall include habilitation
  centers and hospices.
    * NB Repealed July 2, 2006
    11.  "Financial assistance" shall mean the proceeds of bonds issued by
  the authority, straight-leases, or exemptions from taxation claimed by a
  project occupant as a result of the authority taking  title,  possession
  or control (by lease, license or otherwise) to the property or equipment
  of  such project occupant or of such project occupant acting as an agent
  of the authority.
    12. "Straight-lease transaction" shall mean a transaction in which the
  authority takes title, possession  or  control  (by  lease,  license  or
  otherwise) to the property or equipment of a project occupant, entitling
  such  property  or equipment to be exempt from taxation according to the
  provisions of section nineteen hundred sixty-three of this title, and no
  financial assistance in the form of the proceeds of bonds issued by  the
  authority is provided to the project occupant.
    13.  "Affected tax jurisdiction" shall mean any municipality or school
  district, in which a project is located, which will fail to receive real
  property tax payments, or other tax payments which  would  otherwise  be
  due,  except  for  the  tax exempt status of the authority involved in a
  project.
    14. "Payments in lieu of taxes" shall mean  any  payment  made  to  an
  agency, or affected tax jurisdiction, equal to the amount, or a portion,
  of  real property taxes, or other taxes, which would have been levied by
  or on behalf of an affected tax jurisdiction if the project was not  tax
  exempt by reason of authority involvement.
    15.  "Highly  distressed  area"  means (a) a census tract or tracts or
  block numbering areas or areas or such census tract or  block  numbering
  area  contiguous thereto which, according to the most recent census data
  available, has:
    (i) a poverty rate of at least twenty percent for the  year  to  which
  the  data  relates  or  at  least twenty percent of households receiving
  public assistance; and
    (ii) an unemployment  rate  of  at  least  1.25  times  the  statewide
  unemployment rate for the year to which the data relates; or
    (b) a city, town, village or county within a city with a population of
  one  million or more for which: (i) the ratio of the full value property
  wealth, as determined by the comptroller for the year  nineteen  hundred
  ninety, per resident to the statewide average full value property wealth
  per resident; and (ii) the ratio of the income per resident; as shown in
  the  nineteen  hundred ninety census to the statewide average income per
  resident; are each fifty-five percent or less of the statewide  average;
  or
    (c)  an  area  which was designated an empire zone pursuant to article
  eighteen-B of the general municipal law.