What's happening
This bill allows industrial development agencies to provide financial assistance to mixed-use projects with professional offices as retail sales.
Why it matters
Expands what qualifies as “retail sales”. for industrial development agency (IDA) support, specifically adding professional offices (like medical, dental, legal, and consulting) to the list, which previously focused on traditional retail establishments.
Addresses mixed-use and adaptive re-use projects. , making it easier for developers to get financial assistance for projects that combine residential, office, and professional services, potentially revitalizing underused properties or distressed areas.
Could spur local economic growth and access to services. by making it financially viable to establish or expand professional offices in communities, especially where such services are lacking or where redevelopment is needed.
May change the landscape of IDA-supported projects. , allowing public incentives to be used for a broader set of businesses and possibly encouraging more diverse, service-oriented developments rather than just retail or manufacturing.
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Who cares
Industrial development agencies
The bill would let IDAs provide financial assistance to qualifying professional-office projects under a new exception to restrictions on retail projects.
Medical, dental, chiropractic and optician practices
Their offices could qualify for IDA assistance as part of mixed-use projects with residential or office uses, or adaptive reuse developments.
Insurance, accounting and consulting firms
The bill would include their professional offices in the new exception for retail projects.
Mixed-use and adaptive reuse developers
The bill would create another route to IDA assistance when qualifying professional offices account for more than one-third of total project cost.
Headline styles
Expand IDA Retail Eligibility
Plain English, a few words. Used as the page title.
Sponsors
History
- Referred to local government
- Referred to local government
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3825
2019-2020 Regular Sessions
IN SENATE
February 15, 2019
Introduced by Sens. RANZENHOFER, AKSHAR, AMEDORE, SERINO -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government
AN ACT to amend the general municipal law, in relation to retail sales of the industrial development agency
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (b) of subdivision 2 of section 862 of the general municipal law, as added by section 1 of part J of chapter 59 of the laws of 2013, is amended to read as follows:
(b) Notwithstanding the provisions of paragraph (a) of this subdivision, financial assistance may, however, be provided to a project where facilities or property that are primarily used in making retail sales of goods or services to customers who personally visit such facilities to obtain such goods or services constitute more than one-third of the total project cost, where: (i) the predominant purpose of the project would be to make available goods or services which would not, but for the project, be reasonably accessible to the residents of the city, town, or village within which the proposed project would be located because of a lack of reasonably accessible retail trade facilities offering such goods or services; [or] (ii) the project is located in a highly distressed area; or (iii) "retail sales" consist of professional offices including medical, dental, chiropractic, insurance, accounting, optician or consulting professions, as part of a mixed use project including residential and/or office uses or adaptive re-use development.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01738-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the general municipal law, in relation to retail sales of the industrial development agency
Purpose
To expand the ability of industrial agencies to assist projects under certain circumstances.
Summary of provisions
This bill provides expanded exceptions to the general bar on assisting retail projects by industrial development agencies to allow support of retail projects that are specialty or boutique shops as part of a mixed use project including residential and/or office uses, including adaptive re-use development, and for help with the redevelopment of qualified distressed commercial property where old retail space is vacant or unde- rutilized, and where these retail spaces are in areas in need of commu- nity renewal due to dilapidation and vacancies.
Existing law
Article 18-A of the General Municipal Law.
Justification
This bill proposes to encourage development of mixed-use projects that include, as part of the mix, certain professional office uses that are generally included in the definition of "retail sales", and to assist in the rehabilitation of distressed commercial properties that can add to the decline of the neighborhoods in which they are located. Redevelop- ment of these properties as mixed use projects including some profes- sional office uses would be of great benefit in the restoration and redevelopment of their entire surrounding neighborhoods, and would be a worthy area for industrial development assistance.
Legislative history
2017-18 - S.5155-B/A.7894 - RULES/Local Gov't
Fiscal implications
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.