§ 5-51 — Authority; Purpose

§ 5-51 Authority; Purpose.

(a) These rules are promulgated pursuant to Chapter 4 of the Laws of 1995 of the State of New York, as amended, to effectuate the purposes of the New York City Lower Manhattan Energy Program (the "Program"). (b) The purpose of the Program is to encourage commercial development, through construction, expansion or improvement of commercial space in a defined area of Lower Manhattan, by providing a reduction of certain electricity costs related to the transmission and distribution of electricity for a period of twelve (12) years or, in specified cases involving landmark sites, thirteen (13) years, including reductions in the cost of energy services purchased from the New York City Public Utility Service. (c) These rules set forth the standards and criteria used to determine eligibility and the available reductions in energy costs, as well as requirements for applications and procedures for review of determinations made in connection with the Program.