§ 189-c. General powers and duties of the board. 1. The board shall
establish procedures and guidelines relating to the activities of the
board.

2. The board shall establish procedures through written policies or
standards for reviewing applications for an allocation of fund benefits
that shall include a review of applications no less frequently than
twice each year. The board, or a member designated by the board, shall
receive all applications from, or on behalf of, eligible applicants for
fund benefits. Applications shall be in a form and contain such
information, data and exhibits as the board, in consultation with the
authority, may prescribe.

3. The board may request from the authority an analysis of any
application along with any recommendations. In addition, the authority
shall supply any such additional information as is reasonably necessary
for the board to perform its duties.

4. In reviewing applications for fund benefits, the board shall use
the criteria for eligibility for expansion, replacement and preservation
power and for revitalization of industry as provided in section one
thousand five of the public authorities law. In addition, the board
shall consider the extent to which an award of fund benefits is
consistent with any regional economic development council strategies and
priorities having responsibility for the region in which the eligible
project is located. The board shall issue a written statement of its
findings and recommendations for each application reviewed.

5. The board shall recommend to the authority the allocation of fund
benefits to eligible projects that the board finds are consistent with
the applicable criteria in subdivision four of this section. The board
may include within its recommendations such recommended terms and
conditions as it deems appropriate, including, but not limited to,
reasonable provision for the allocation of fund benefits over time as
the eligible applicant achieves milestones towards project completion,
the partial or complete withdrawal or return of fund benefits where the
recipient has failed to achieve or maintain mutually agreed upon
commitments, or such other terms and conditions as the board deems
advisable. The board shall not recommend an allocation of fund benefits
prior to establishing procedures for reviewing applications pursuant to
subdivision two of this section.

6. A recommendation by the board that an eligible applicant receive an
allocation of fund benefits shall be a prerequisite to an award of fund
benefits by the authority. The authority shall award fund benefits to an
applicant upon a recommendation of the board; provided, however, that
upon a showing of good cause, the authority shall have discretion as to
whether to adopt the board's recommendation, or to award benefits in a
different amount or on different terms and conditions than those
contained in the recommendation of the board. Allocations of fund
benefits shall only be made on the basis of net earnings that have been
deposited in the western New York economic development fund. No award of
fund benefits shall encumber future net earnings or net earnings that
have been received but not deposited in the western New York economic
development fund.

7. Upon making an allocation of fund benefits, the authority shall
include within the agreement providing for the terms and conditions
applicable to such allocation all terms and conditions the authority
deems appropriate, taking into account the recommendations made by the
board.