§ 1822. Loans to local development corporations. a. No mortgage loan shall be made by the authority under the provisions of subtitle II with respect to a project unless: (1) the local development corporation has obtained firm commitments satisfactory to the authority from responsible financial sources, which may but need not include a federal agency […]
§ 1823. Further restrictions on loans and loan guarantees. In addition to other provisions of this title limiting the power of the authority to make loans to local development corporations in respect of a particular project, and to guarantee loans made by banking organizations, the following restrictions shall also apply: 1. No funds of the […]
§ 1824. Applications for loans and for loan guarantees. a. A local development corporation may request a loan from the authority pursuant to the provisions of this title by filing an application therefor, which shall be verified by an officer of the corporation duly authorized so to do, in such form and with such exhibits […]
§ 1825. Local development corporations. To be eligible for loans from the authority, a local development corporation shall meet the following requirements in addition to any others imposed by the provisions of this title: 1. The corporation shall (a) be incorporated or reincorporated under section fourteen hundred eleven of the not-for-profit corporation law, or (b) […]
§ 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, […]
§ 1827. Loans for multi-tenant facilities. When in the judgment of the authority a need exists for additional space for industrial, manufacturing, research and development use or other eligible business facilities in an area of the state, it may make a loan to a local development corporation or issue a loan guarantee to a banking […]
