N.Y. Public Authorities Law Section 1826
The project occupant

The project occupant must be found by the authority to be financially responsible and presumptively able to comply with the terms and conditions of any lease, mortgage or other agreement made by it with the authority or a local development corporation in respect of the project. In making this finding, the authority shall consider all information reasonably available to it, including information as to the business reputation of the project occupant, the character and ability of its management, the adequacy of its financial resources, the market demand for its products, the adequacy of its distribution methods, its past earnings and the likelihood that it can successfully meet any required payments under such lease, mortgage or other agreement out of current income.

Source: Section 1826 — The project occupant, https://www.­nysenate.­gov/legislation/laws/PBA/1826 (updated Sep. 22, 2014; accessed May 18, 2024).

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Accessed:
May 18, 2024

Last modified:
Sep. 22, 2014

§ 1826’s source at nysenate​.gov

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