New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 5. Department of Economic Development |
Chapter XVI. Excelsior Linked Deposit Program |
Part 160. Administration, Application and Evaluation |
Sec. 160.5. Evaluation criteria
Latest version.
- The commissioner shall evaluate all linked deposit applications based upon the following:(a) the eligibility of the borrower for the program;(b) the eligibility of the project for which the loan has been sought for the program;(c) the significance of the eligible project for improving the competitive position and profitability of the eligible business;(d) the importance of a reduced cost of borrowing through a linked loan to the ability of the eligible business to undertake the eligible project; and(e) the number of jobs likely to be created or retained, or other substantial economic benefits likely to be achieved as a result of the eligible project.