§ 858 — Purposes and powers of the agency

New York § 858

• Jurisdiction: New York
• Law GMU: General Municipal
• Title 1: Agencies, Organization and Powers
• Art. 18-A: Industrial Development

Text

§ 858. Purposes and powers of the agency. The purposes of the agency\nshall be to promote, develop, encourage and assist in the acquiring,\nconstructing, reconstructing, improving, maintaining, equipping and\nfurnishing industrial, manufacturing, warehousing, commercial, research,\nrenewable energy and recreation facilities including industrial\npollution control facilities, educational or cultural facilities,\nrailroad facilities, horse racing facilities, automobile racing\nfacilities, renewable energy projects and continuing care retirement\ncommunities, provided, however, that, of agencies governed by this\narticle, only agencies created for the benefit of a county and the\nagency created for the benefit of the city of New York shall be\nauthorized to provide financial assistance in any respect to a\ncontinuing care retirement community, and thereby advance the job\nopportunities, health, general prosperity and economic welfare of the\npeople of the state of New York and to improve their recreation\nopportunities, prosperity and standard of living; and to carry out the\naforesaid purposes, each agency shall have the following powers:\n (1) To sue and be sued;\n (2) To have a seal and alter the same at pleasure;\n (3) To acquire, hold and dispose of personal property for its\ncorporate purposes;\n (4) To acquire by purchase, grant, lease, gift, pursuant to the\nprovisions of the eminent domain procedure law, or otherwise and to use,\nreal property or rights or easements therein necessary for its corporate\npurposes in compliance with the local zoning and planning regulations\nand shall take into consideration regional and local comprehensive land\nuse plans and state designated heritage area management plans, and to\nsell, convey, mortgage, lease, pledge, exchange or otherwise dispose of\nany such property in such manner as the agency shall determine. In the\ncase of railroad facilities, however, the phrase to use real property or\nrights or easements therein shall not be interpreted to include\noperation by the agency of rail service upon or in conjunction with such\nfacilities.\n (5) To make by-laws for the management and regulation of its affairs\nand, subject to agreements with its bondholders, for the regulation of\nthe use of a project or projects.\n (6) With the consent of the municipality, to use agents, employees and\nfacilities of the municipality, paying the municipality its agreed\nproportion of the compensation or costs;\n (7) To appoint officers, agents and employees, to prescribe their\nqualifications and to fix their compensation and to pay the same out of\nfunds of the agency, provided, however, that an elected officer of the\nmunicipality may not serve as a compensated officer, agent or employee\nof the agency;\n (8) (a) To appoint an attorney, who may be the counsel of the\nmunicipality, and to fix the attorney's compensation for services which\nshall be payable to the attorney, and to retain and employ private\nconsultants for professional and technical assistance and advice;\n (b) An attorney acting as bond counsel for a project must file with\nthe agency a written statement in which the attorney identifies each\nparty to the transaction which such attorney represents. If bond counsel\nprovides any legal services to parties other than the agency the written\nstatement must describe the nature of legal services provided by such\nbond counsel to all parties to the transaction, including the nature of\nthe services provided to the agency.\n (9) To make contracts and leases, and to execute all instruments\nnecessary or convenient to or with any person, firm, partnership or\ncorporation, either public or private; provided, however, that any\nextension of an existing contract, lease or other agreement entered into\nby an agency with respect to a project shall be guided by the provisions\nof this article;\n (10) To acquire, construct, reconstruct, lease, improve, maintain,\nequip or furnish one or more projects;\n (11) To accept gifts, grants, loans, or contributions from, and enter\ninto contracts or other transactions with, the United States and the\nstate or any agency of either of them, any municipality, any public or\nprivate corporation or any other legal entity, and to use any such\ngifts, grants, loans or contributions for any of its corporate purposes;\n (12) To borrow money and to issue bonds and to provide for the rights\nof the holders thereof;\n (13) To grant options to renew any lease with respect to any project\nor projects and to grant options to buy any project at such price as the\nagency may deem desirable;\n (14) To designate the depositories of its money either within or\nwithout the state;\n (15) To enter into agreements requiring payments in lieu of taxes.\nSuch agreements shall be in writing and in addition to other terms shall\ncontain: the amount due annually to each affected tax jurisdiction (or a\nformula by which the amount due can be calculated), the name and address\nof the person, office or agency to which payment shall be delivered, the\ndate on which payment shall be made, and the date on which payment shall\nbe considered delinquent if not paid. Unless otherwise agreed by the\naffected tax jurisdictions, any such agreement shall provide that\npayments in lieu of taxes shall be allocated among affected tax\njurisdictions in proportion to the amount of real property tax and other\ntaxes which would have been received by each affected tax jurisdiction\nhad the project not been tax exempt due to the status of the agency\ninvolved in the project. A copy of any such agreement shall be delivered\nto each affected tax jurisdiction within fifteen days of signing the\nagreement. In the absence of any such written agreement, payments in\nlieu of taxes made by an agency shall be allocated in the same\nproportions as they had been prior to January first, nineteen hundred\nninety-three for so long as the agency's activities render a project\nnon-taxable by affected tax jurisdictions. A notification of the\nexpiration of such agreement shall be delivered to the affected tax\njurisdiction two years prior to the expiration of such agreement and\nimmediately upon early termination of an agreement;\n (16) To establish and re-establish its fiscal year; and\n (17) To do all things necessary or convenient to carry out its\npurposes and exercise the powers expressly given in this title.\n