N.Y. General Municipal Law Section 859-B
Special procedure for the provision of financial assistance to continuing care retirement communities

1.

Any applicant for financing of a continuing care retirement community shall present a completed application for a certificate of authority and documentation establishing the continuing care retirement community council’s approval of that application, pursuant to article forty-six of the public health law.

2.

If requested by the agency, the applicant shall present an analysis dealing with any of the issues identified in paragraph (a) of subdivision four of § 874 (Tax exemptions)section eight hundred seventy-four of this article.

3.

Applicants shall present the financial feasibility study, including a financial forecast and market study, and the analysis of economic costs and benefits required by article forty-six of the public health law.

4.

Any information presented by the applicant pursuant to subdivisions one, two and three of this section shall be made available at the time required for published notice of the public hearing required by section eight hundred fifty-nine-a of this article. The agency shall make such information available during regular office hours in at least two locations, at least one of which shall be in the city, town or village within which the proposed project is located. Such notice shall include a statement indicating the location and times of availability of the information required by this section.

5.

The industrial development agency may require the applicant to provide any additional information which it requires in order to meet the purposes of this article.

Source: Section 859-B — Special procedure for the provision of financial assistance to continuing care retirement communities, https://www.­nysenate.­gov/legislation/laws/GMU/859-B (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 859-B’s source at nysenate​.gov

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