§ 489-ffff. Reporting requirement; termination of benefits. 1. Upon
approval by the department of buildings of the plans submitted in
connection with the building permit and any amendments to such plans,
the recipient shall file with the department of finance a narrative
description of such approved plans describing the industrial, commercial
or renovation construction work for which such recipient seeks benefits
pursuant to this title.

2. For the duration of the benefit period the recipient shall file
annually with the department of finance, on or before the taxable status
date, a certificate of continuing use stating the purposes for which the
property described in the certificate of eligibility is being used and
the net square footage allotted to each such purpose. Such certificate
of continuing use shall be on a form prescribed by the department of
finance and shall state the total number of workers employed on the
property and the number of such workers who are city residents. The
department of finance shall have authority to terminate benefits
pursuant to this title upon failure of a recipient to file such
certificate by the taxable status date. The burden of proof shall be on
the recipient to establish continuing eligibility for benefits and the
department of finance shall have the authority to require that
statements made in such certificate shall be made under oath.

3. A recipient shall file an amendment to the latest certificate of
continuing use prior to (a) converting square footage within property
which is the subject of a certificate of eligibility for industrial
construction work from use for the manufacturing activities described in
such certificate of continuing use where such conversion results in less
than sixty-five per centum of total net square footage being used or
held out for use for manufacturing activities; or (b) converting any
portion of property which is the subject of a certificate of eligibility
to use for any restricted activity or as residential property.

4. Not later than eighteen months after the effective date of a
certificate of eligibility, with an effective date of June thirtieth,
nineteen hundred ninety-two or before, the recipient shall present
evidence to the department of finance demonstrating that the recipient
has made one-half of the minimum required expenditure. Not later than
thirty-six months after the effective date of such certificate, such
recipient shall present evidence to such department demonstrating that
the recipient has made the minimum required expenditure. Not later than
thirty months after the effective date of a certificate of eligibility
with an effective date of July first, nineteen hundred ninety-two or
after, the recipient shall present evidence to the department of finance
demonstrating that the recipient has made one-half of the minimum
required expenditure; provided, however, that a recipient of a
certificate of eligibility for renovation construction work for property
located in the renovation exemption area specified in subparagraph (ii)
of paragraph (d) of subdivision five of section four hundred
eighty-nine-cccc of this title shall present such evidence not later
than eighteen months after the effective date of such certificate, or by
December thirty-first, nineteen hundred ninety-four, whichever is
earlier; provided, further, however, that a recipient who filed an
application for a certificate of eligibility for renovation construction
work for property located in the renovation exemption area specified in
subparagraph (ii) of paragraph (d) of subdivision five of section four
hundred eighty-nine-cccc of this title on or after July first, nineteen
hundred ninety-four, but before February first, nineteen hundred
ninety-five, shall present such evidence not later than eighteen months
after the effective date of such certificate, or by July thirty-first,
nineteen hundred ninety-five, whichever is earlier, provided, further,
however, that a recipient who filed an application for a certificate of
eligibility for renovation construction work for property located in the
renovation exemption area specified in subparagraph (i) or (iii) of
paragraph (d) of subdivision five of section four hundred
eighty-nine-cccc of this title on or after July first, nineteen hundred
ninety-five, shall present such evidence not later than eighteen months
after the effective date of such certificate. Not later than sixty
months after the effective date of a certificate of eligibility with an
effective date of July first, nineteen hundred ninety-two or after, the
recipient shall present evidence to such department demonstrating that
the recipient has made the minimum required expenditure; provided,
however, that a recipient of a certificate of eligibility for renovation
construction work for property located in the renovation exemption area
specified in subparagraph (ii) of paragraph (d) of subdivision five of
section four hundred eighty-nine-cccc of this title shall present such
evidence not later than thirty-six months after the effective date of
such certificate, or by December thirty-first, nineteen hundred
ninety-five, whichever is earlier; provided, further, however, that a
recipient who filed an application for a certificate of eligibility for
renovation construction work for property located in the renovation
exemption area specified in subparagraph (ii) of paragraph (d) of
subdivision five of section four hundred eighty-nine-cccc of this title
on or after July first, nineteen hundred ninety-four, but before
February first, nineteen hundred ninety-five, shall present such
evidence not later than thirty-six months after the effective date of
such certificate, or by July thirty-first, nineteen hundred ninety-six,
whichever is earlier, provided, further, however, that a recipient who
filed an application for a certificate of eligibility for renovation
construction work for property located in the renovation exemption area
specified in subparagraph (i) or (iii) of paragraph (d) of subdivision
five of section four hundred eighty-nine-cccc of this title on or after
July first, nineteen hundred ninety-five, shall present such evidence
not later than thirty-six months after the effective date of such
certificate. Such evidence shall be presented in the form and manner
prescribed by such department. The burden of proof shall be on the
recipient to show by clear and convincing evidence that the required
expenditures have been made. This subdivision shall not apply to the
recipient of a certificate of eligibility for construction of a new
building or structure that meets the requirements set forth in
subdivision nine of section four hundred eighty-nine-dddd of this title
in a new construction exemption area.

5. A recipient of a certificate of eligibility for construction of a
new building or structure in a new construction exemption area shall
present evidence to the department of finance demonstrating that the
requirements of subdivision nine of section four hundred
eighty-nine-dddd of this title have been met. Such evidence shall be
presented in the form and manner and at the time prescribed by such
department. The burden of proof shall be on the recipient to show by
clear and convincing evidence that such requirements have been met.