§ 15-02 Definitions.
RCNY § 15-02
As used in this chapter, the following terms have the following meanings: Applicant. "Applicant" means a commercial business that is applying for this Grant. Application. "Application" means a written request in a form satisfactory to DSBS, supplemented by all requested supporting documents, made by an Applicant to DSBS to determine the eligibility of an Applicant for a Grant. Business Needs Assessment. "Business Needs Assessment" means a customized analysis of Applicant's business operations, conducted by an expert in coordination with DSBS, which describes strategies for Applicants to adapt their operations to improve their businesses and increase their chances to thrive in their current locations despite changing real estate conditions. City. "City" means the City of New York. Business. "Business" means a sole proprietorship, partnership, corporation or other legal entity involved in the sale of goods or services directly to the public from a physical location in the City. DSBS. "DSBS" means the Department of Small Business Services or its successor. Fiscal year. "Fiscal Year" means the period beginning July 1st and ending June 30th of the next calendar year. Franchise. "Franchise" means, as defined by 16 C.F.R. § 436.1, a continuing commercial relationship or arrangement, whatever it may be called, in which the terms of the offer or contract specify, or the franchise seller promises or represents, orally or in writing that: (1) the franchisee will obtain the right to operate a business that is identified or associated with the franchisor's trademark, or to offer, sell or distribute goods, services or commodities that are identified or associated with the franchisor's trademark; (2) the franchisor will exert or has authority to exert a significant degree of control over the franchisee's method of operation, or provide significant assistance in the franchisee's method of operation; and (3) as a condition of obtaining or commencing operation of the franchise, the franchisee makes a required payment or commits to make a required payment to the franchisor or its affiliate. Grant. "Grant" means one or more disbursements from the Love Your Local Small Business Grant Program to an Applicant for the purpose of implementing recommendations made in the Business Needs Assessment. Grant Agreement. "Grant Agreement" means a duly executed, legally binding contract between DSBS and an Applicant setting out terms and conditions for the use of grant funds. National Retailers/Chains. "National Retailers/Chains" means a business that has at least two locations in the City and at least one location outside the City limits. Small Business. "Small Business" means a small business as described by the United States Small Business Administration ("SBA") pursuant to part 121 of title 13 of the Code of Federal Regulations. (Added City Record 6/21/2018, eff. 7/21/2018)
