§ 19-03 Eligibility Requirements.
RCNY § 19-03
a. A grant is available to an Eligible Business that: 1. relocates from an Eligible Move-Out Site to an Eligible Move-In Site within the time frame described in subdivision b of this section; 2. occupies the Eligible Move-In Site as evidenced by a lease or Contract of Sale, and; 3. demonstrates Direct Business Loss, as defined in 66 RCNY § 19-02. b. Required time-frame for lease for, or for purchase of, Eligible Move-In Site: 1. If the Applicant intends to enter into a lease for its Eligible Move-In Site, the commencement date, and the signing, of a commercial lease for the Eligible Move-In Site must occur after November 23, 2021.
2.If the Applicant intends to purchase its Eligible Move-In Site, the Applicant must sign the Contract of Sale and accept delivery of the deed after November 23, 2021, except that if the Applicant entered into a Contract of Sale that was subject to approval of public or private financing to purchase the Eligible Move-In Site, such Contract of Sale may have been signed before the submission of the Application, provided that acceptance of delivery of the deed to the Eligible Move-In Site occurs after November 23, 2021. c. If the assets of an Eligible Business were purchased by another person or entity between November 23, 2021 and one (1) year after execution of the Grant Agreement, the Eligible Business may be eligible to receive a grant if the purchaser of such assets is otherwise in compliance with these Rules, including the requirement described in paragraph 2 of subdivision a of this section. d. Businesses will be eligible to receive grants for up to 10 years from the rezoning which occurred on November 23, 2021, subject to available funding. Requests will be evaluated by DSBS on a case-by-case basis thereafter. (Added City Record 5/30/2025, eff. 6/29/2025)
