§ 1971 — Statement of legislative findings and purposes

§ 1971. Statement of legislative findings and purposes. It is hereby\nfound and declared that there exists on the lower West side of the\ncounty of New York, North of Battery Park and on and adjacent to the\nHudson River, a blighted area, defined in this title as the Battery Park\nproject area, marked by substandard, insanitary, deteriorated and\ndeteriorating conditions, in which area there exists obsolete and\ndilapidated buildings and structures, including piers, of defective\nconstruction and outmoded design, lacking proper sanitary facilities and\nadequate fire and safety protection, and with insufficient light and\nventilation and inadequate maintenance; buildings or structures\nabandoned or not utilized in whole or in part; obsolete systems of\nutilities; poorly or improperly designed street patterns and\nintersections with inadequate access to areas; traffic congestion; and\nobsolete street widths, sizes and shapes, all of which hamper and impede\nthe proper and economic development of such area and of the city of New\nYork and of the state as a whole.\n It is further found and declared that such area is no longer suitable\nor useful for piers or for facilities appurtenant to the loading and\nunloading of commercial cargo, and that retaining piers in such area\ncreates a blighting effect on such area and on surrounding areas and is\ndetrimental to the development of such area and to the growth and\nprosperity of the county and city of New York and of the state as a\nwhole.\n It is hereby declared that the improvement of such area, the\nelimination of pier facilities and of the present structures therein,\nand the replanning, reconstruction and redevelopment of such area\nincluding the filling of the Hudson River at such area up to the present\npierhead line, the preparation of the resulting land for development,\nand the creation in such area, in cooperation with the city of New York\nand the private sector, of a mixed commercial and residential community,\nwith adequate utilities systems and civic and public facilities such as\nschools, open public spaces, recreational and cultural facilities, is\nnecessary for the prosperity and welfare of the people of the city of\nNew York and of the state as a whole, and is a public use and public\npurpose for which tax exemptions may be granted, and that the powers and\nduties of battery park city authority as hereinafter recited are\nnecessary and proper for the purpose of achieving such ends.\n It is hereby further found and declared that there continues to exist\nthroughout the city of New York a seriously inadequate supply of safe\nand sanitary dwelling accommodations for persons and families of low\nincome. This condition is contrary to the public interest and threatens\nthe health, safety, welfare, comfort and security of the people of the\nstate. The ordinary operations of private enterprise cannot provide an\nadequate supply of safe and sanitary dwelling accommodations at rentals\nwhich persons and families of low income can afford. In order to\nencourage the investment of private capital and provide such dwelling\naccommodations, provision should be made for mortgage loans at low\ninterest rates to housing companies which, subject to regulations as to\nrents, profits, dividends and disposition of their property, supply such\ndwelling accommodations and other facilities incidental or appurtenant\nthereto to such persons and families.\n Therefore, it is hereby found and declared that Battery Park city\nauthority, through the issuance of bonds and notes to the private\ninvesting public, by encouraging maximum participation by the private\nsector of the economy, including the sale or lease of the authority's\ninterest in projects at the earliest time deemed feasible, and through\nparticipation in programs undertaken by the state, its agencies and\nsubdivisions, and by the federal government, may provide or obtain the\ncapital resources necessary to provide dwelling accommodations for\npersons and families of low income, and facilities incidental or\nappurtenant thereto, and, where necessary, to carry out the clearance,\nreplanning, reconstruction and rehabilitation of such substandard and\ninsanitary areas.\n It is hereby further found and declared that the acquisition and\nconstruction of adequate, safe and sanitary dwelling accommodations for\npersons and families of low income and such facilities as may be\nincidental or appurtenant thereto, are public uses and public purposes\nfor which public money may be loaned and private property may be\nacquired and tax exemptions granted, and that the powers and duties of\nbattery park city authority or its subsidiaries as hereinafter recited\nare necessary and proper for the purpose of achieving the ends here\nrecited.\n