N.Y. Executive Law 527-G – Agreement requirements
§ 527-g. Agreement requirements. 1. The division shall enter into an agreement with an approved applicant which shall require that such applicant as owner and/or operator of such facility shall:
Terms Used In N.Y. Executive Law 527-G
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(a) operate and manage or provide for the management of such facility in a manner consistent with the terms of its approved application as a youth center facility at all times during the period of time specified (not to exceed thirty years in the case of a new facility project grant or fifteen years in the case of a facility rehabilitation grant). Such agreement shall also require the repayment of project costs other than the costs necessary for the creation of the reserve fund if the site of such youth facility center project ceases to be utilized for such purpose at any time during the period specified and shall specify the procedures for such repayment; and
(b) execute such other agreements and provide such other information as the division may determine to be necessary to carry out the provisions of this title.
2. The agreement shall also contain provisions which prohibit any municipality or not-for-profit corporation receiving awards pursuant to this title from (i) engaging in any activities promoting any political candidate or party; or (ii) expending funds received from any such awards in activities the purpose of which is to influence legislation.