[Adopted 12-20-2005 by L.L. No. 5-2006 (Ch. 110, Art. I, of
the 1985 Code)]
A.
This Legislature hereby determines that a need exists within the
County of Suffolk to foster new business enterprises that promote
long-term economic development in certain economically disadvantaged
areas.
B.
This Legislature also finds and determines that business incubators
have a primary goal of assisting early-stage, early-growth companies
that have a small number of employees and limited resources, to expand
into successful enterprises that are financially viable and are able
to operate independently.
C.
This Legislature further finds and determines that business incubators
promote individual achievement, provide jobs and an expanded business
base, strengthen neighborhoods, empower families, and support local
economies.
D.
This Legislature also finds that the establishment of a Suffolk County
local development corporation will give the County an additional tool
to spur economic growth and create and support incubator programs
in low-income and diverse communities in Suffolk County.
E.
Therefore, the purpose of this article is to create a Suffolk County
local development corporation.
The County Executive and/or his designee(s) are hereby authorized,
empowered and directed to take all steps necessary to create and cause
the incorporation of a not-for-profit Suffolk County Local Development
Corporation (SCLDC) in compliance with § 1411 of the New
York Not-For-Profit Corporation Law.
The SCLDC shall be established for the public purposes of creating
and supporting incubator programs in low-income communities of Suffolk
County; relieving and reducing unemployment; promoting and providing
for additional and maximum employment; bettering and maintaining job
opportunities; instructing or training individuals to improve or develop
their capabilities for such jobs; encouraging the development of,
or retention of, an industry in the community or area; and lessening
the burdens of government and acting in the public interest.
A.
In order
to achieve its purposes, the SCLDC shall have the power to:
(1)
Construct, acquire, rehabilitate and improve, for use by others,
industrial and manufacturing plants in the County;
(2)
Assist financially in the construction, acquisition, rehabilitation
or improvement of industrial or manufacturing plants in the County
for use by others;
(3)
Maintain industrial or manufacturing plants for others;
(4)
Acquire, by purchase, lease, gift, bequest, devise or otherwise,
real or personal property or interests therein;
(5)
Borrow money and to issue negotiable bonds, notes and obligations
therefor; and
(6)
Sell, lease, mortgage or otherwise dispose of or encumber any such
plants or any of its real or personal property or any interest therein.
B.
The SCLDC shall be established for the purposes described herein
and may exercise all powers authorized by § 1411 of the
New York Not-For-Profit Corporation Law that are necessary to fulfill
its corporate purpose as set forth in its certificate of incorporation,
including, but not limited to, the power to purchase or lease real
property owned by the County.
The County Legislature may by resolution determine that specifically
described real property owned by the County is not required for use
by the County and authorize the County to sell or lease such real
property to the SCLDC, provided that a public hearing is held prior
to such authorization being granted and that title to such land may
not be declared inalienable as a forest preserve or a parkland. Notwithstanding
the provisions of any general, special or local law, charter or ordinance
to the contrary, such sale or lease may be made:
A.
Without appraisal.
B.
Without public notice (with the exception of a public hearing held
by the Legislature to consider the proposed sale) or public bidding
for such price or rental and upon such terms as may be agreed upon
between the County and the SCLDC; provided, however, that in case
of a lease the term may not exceed 99 years.
In addition to the requirements set forth in § 402
of the New York Not-For-Profit Corporation Law for certificates of
incorporation, the certificate of incorporation of the SCLDC shall
state:
A.
That all income and earnings of the SCLDC shall be used exclusively
for its corporate purposes or accrue and be paid to the New York Job
Development Authority;
B.
That no part of the income or earnings of the SCLDC shall inure to
the benefit or profit of, nor shall any distribution of its property
or assets be made to, any member or private person, corporate or individual,
or any other private interest, except that the certificate of incorporation
may authorize the repayment of loans and may also authorize the repayment
of contributions (other than dues) to the SCLDC, but only if and to
the extent that any such contribution may not be allowable as a deduction
in computing taxable income under the Internal Revenue Code of 1954;
and
C.
That if the SCLDC accepts a mortgage loan or loans from the New York
Job Development Authority, the SCLDC shall be dissolved in accordance
with the provisions of the New York Not-For-Profit Corporation Law
§ 1411, Subdivision (g), upon the repayment or other discharge
in full by the SCLDC of all such loans.
A.
The SCLDC shall have five Directors appointed as follows:
(1)
Three Directors shall be appointed by the County Legislature as follows:
(a)
One Director shall be appointed by the Presiding Officer of
the County Legislature for a term of three years;
(b)
One Director shall be appointed by the County Legislature for
a term of three years; and
(c)
One Director shall be appointed by the Minority Leader of the
County Legislature for a term of three years, measured by the political
party having the second highest number of Suffolk County Legislators
affiliated with said party.
(2)
Two directors shall be appointed by the County Executive for terms
of three years.
B.
Among their other duties, the Directors shall determine what constitutes
incubator programs in low-income communities in Suffolk County.
The SCLDC shall be a Type C corporation whose income and operations
shall be tax exempt.
The Suffolk County Department of Economic Development and Workforce
Housing shall assist the SCLDC in implementing and carrying out the
policies and programs approved by the SCLDC's Board of Directors.
This article shall apply to any actions occurring on or after
the effective date of this chapter.
