N.Y.
Economic Development Law Section 197-A
Definitions
1.
“Authority” is the power authority of the state of New York.2.
“Authority-TMED contract” refers to a certain contract between the authority and the town of Massena electric department, entitled “Agreement Governing the Sale of St. Lawrence-FDR Project Power and Energy to the Town of Massena Electric Department for Economic Development Purposes,” executed and dated by the authority on October eighteenth, two thousand twelve, and the associated authority service tariff issued and effective August twenty-first, two thousand twelve.3.
“Board” is the northern New York power proceeds allocation board created by this article.4.
“Benefits” or “fund benefits” are payments to eligible applicants selected by the authority for the purpose of funding eligible projects with monies derived from net earnings that have been deposited into the northern New York economic development fund by the authority in accordance with subdivision twenty-four of Public Authorities Law § 1005 (Powers and duties of authority)section one thousand five of the public authorities law.5.
“Eligible applicant” means a private business, including a not-for-profit corporation.6.
“Eligible projects” are economic development projects that are or would be physically located within the state of New York in St. Lawrence county that will support the growth of business in St. Lawrence county and thereby lead to the creation or maintenance of jobs and tax revenues for the state and local governments. Eligible projects may include capital investments in buildings, equipment, and associated infrastructure (collectively, “infrastructure”) owned by an eligible applicant for fund benefits; transportation projects under state or federally approved plans; the acquisition of land needed for infrastructure; research and development where the results of such research and development will directly benefit New York state; support for tourism and marketing and advertising efforts for St. Lawrence county tourism and business; and energy-related projects. Eligible projects do not include, and fund benefits may not be used for, public interest advertising or advocacy; lobbying; the support or opposition of any candidate for public office; the support or opposition to any public issue; legal fees related to litigation of any kind; expenses related to administrative proceedings before state or local agencies; or retail businesses as defined by the board, including without limitation, sports venues, gaming and gambling or entertainment-related establishments, residential properties, or places of overnight accommodation.7.
“Energy-related projects, programs and services” shall have the same meaning as such term is defined in subparagraph two of paragraph (b) of subdivision seventeen of Public Authorities Law § 1005 (Powers and duties of authority)section one thousand five of the public authorities law.8.
“Net earnings” is the aggregate excess of revenues received by the authority from the sale of energy associated with St. Lawrence county economic development power sold by the authority in the wholesale energy market over what revenues would have been received had such energy been sold on a firm basis under the terms of the authority-TMED contract.9.
“Northern New York economic development fund” or “fund” is a fund of the authority into which net earnings are deposited by the authority in accordance with subdivision twenty-four of Public Authorities Law § 1005 (Powers and duties of authority)section one thousand five of the public authorities law and from which allocations of fund benefits to eligible projects may be made by the authority.10.
“St. Lawrence county economic development power” means firm hydroelectric energy produced by the authority’s St. Lawrence power project that the authority has made available for allocation and sale to the town of Massena electric department for resale and sub-allocation to qualified end users pursuant to the authority-TMED contract.
Source:
Section 197-A — Definitions, https://www.nysenate.gov/legislation/laws/COM/197-A (updated Jan. 2, 2015; accessed Oct. 26, 2024).
