§ 16-q. The upstate regional blueprint fund. 1. The upstate regional
blueprint fund is hereby created. The upstate empire state development
corporation is authorized to provide financial, product development, or
other assistance from such fund to eligible entities as set forth in
this subdivision to support the upstate revitalization fund, and in
support of such projects that focus on: intellectual capital capacity
building; investment products; applied research and development;
opportunities for foreign investment and international export; and
infrastructure requirements to attract new businesses or expand existing
businesses. For-profit businesses, not-for-profit corporations, public
benefit corporations, municipalities, and research and academic
institutions shall be eligible to apply for such activities under this
subdivision including, but not limited to, the following:

(a) Support for projects identified through region-wide collaborative
efforts as part of the overall growth strategy for the local economy,
including but not limited to smart growth and energy efficiency
initiatives.

(b) Support for the attraction or expansion of a business, including,
but not limited to, those primarily engaged in activities identified as
a strategic industry, and minority-owned and women-owned business
enterprises as defined by subdivisions (c) and (g) of section nine
hundred fifty-seven of the general municipal law.

(c) Support for land acquisition and/or the construction, acquisition
or expansion of buildings, machinery and equipment associated with a
project.

(d) Support for projects identified as a city by city or regional
blueprint priority.

2. Applications for assistance pursuant to this section shall be
reviewed and evaluated pursuant to eligibility requirements and criteria
set forth in rules and regulations promulgated by the upstate chairman,
and subject to approval by the board of directors of the upstate empire
state development corporation. Approval of project applications shall be
made by the upstate chairman, subject to approval by the board of
directors of the upstate empire state development corporation.

3. Priority in granting assistance generally will be given to projects
(a) with significant private financing or matching funds through other
public entities, (b) likely to produce a high return on public
investment, (c) with existence of significant support from the local
business community, local government, community organizations, academic
institutions and other regional parties, (d) with significant regional
breadth or likely to have wide regional impact, (e) with cost benefit
analysis that demonstrates sustainable job creation and investments, (f)
located in distressed areas using economic criteria developed by the
upstate empire state development corporation, which may include but not
be limited to land value, employment, private investment, economic
activity, and population, or (g) whose application is submitted by
multiple entities, both public and private.

4. The upstate empire state development corporation shall provide such
assistance in a geographically proportionate manner throughout upstate
based on qualified applications received pursuant to this section.

5. Assistance may be in the form of loans, grants, or monies
contributing to projects for which the corporation or a subsidiary acts
as developer. (i) The corporation may act as developer in the
acquisition, renovation, construction, leasing or sale of development
projects authorized pursuant to this act in order to stimulate private
sector investment within the affected community. (ii) In acting as a
developer, the corporation may borrow for purposes of this subdivision
for approved projects in which the lender's recourse is solely to the
assets of the project, and may make such arrangements and agreements
with community-based organizations and local development corporations as
may be required to carry out the purposes of this section. (iii) Prior
to developing any such project, the corporation shall secure a firm
commitment from entities, independent of the corporation, for the
purchase or lease of such project. (iv) Projects authorized under this
subdivision whether developed by the corporation or a private developer,
must be located in distressed communities, for which there is a
demonstrated demand within the particular community.

6. Eligible applicants shall include, but not be limited to, business
improvement districts, local development corporations, economic
development organizations, institutions of higher education, incubators,
technology parks, private firms, municipalities, counties, regional
planning councils, tourist attractions, and community facilities.

7. The corporation shall submit a report to the director of the
budget, the temporary president of the senate, the speaker of the
assembly, the minority leader of the senate and the minority leader of
the assembly on the investments and accomplishments of the upstate
regional blueprint fund. Such report shall include, but not be limited
to, information on the number of jobs created and retained, levels of
private sector investment, economic benefit to the state and local
economies and types of industries invested in. Such report shall be
submitted by July 1, 2009 and July first every year thereafter.

8. The corporation shall submit a report to the director of the
budget, the temporary president of the senate, the speaker of the
assembly, the minority leader of the senate and the minority leader of
the assembly evaluating the economic and social benefits of the upstate
regional blueprint fund. Such evaluation shall be prepared by an entity
or entities independent of the corporation which shall be selected
through a request for proposal process. Such evaluation shall be
submitted by October 1, 2009 and October first every year thereafter.

9. The corporation is hereby authorized to promulgate rules and
regulations in accordance with the state administrative procedure act as
are necessary to fulfill the purposes of this section.