§ 4676. Industrial development agency financing. Fee-for-service continuing care retirement communities developed pursuant to this article shall be eligible for industrial development financing in accordance with section forty-six hundred four-a of this chapter except for paragraphs b and g of subdivision two of such section and financing by any public benefit corporation authorized to make loans to continuing care retirement communities under the laws of this state provided, however, the operator of such fee-for-service continuing care retirement community has demonstrated capability to comply fully with the requirements for a certificate of authority and has obtained a contingent certificate of authority pursuant to section forty-six hundred fifty-five of this Article -A of the general municipal law.

Terms Used In N.Y. Public Health Law 4676

  • certificate of authority: shall mean an authorization in writing, approved by the council and issued by the commissioner, for an operator to operate a fee-for-service continuing care retirement community and to enter into fee-for-service continuing care contracts pertaining to such community. See N.Y. Public Health Law 4651
  • Community: shall mean a fee-for-service continuing care retirement community established pursuant to this article. See N.Y. Public Health Law 4651
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Operator: shall mean a legal entity operating a fee-for-service continuing care retirement community pursuant to a certificate of authority, as granted pursuant to section forty-six hundred fifty-six of this article. See N.Y. Public Health Law 4651
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