§ 653 — New York city housing development corporation

§ 653. New York city housing development corporation. 1. There is\nhereby created the "New York city housing development corporation". The\ncorporation shall be a corporate governmental agency, perpetual in\nduration, and shall constitute a public benefit corporation. It shall\nconsist of seven members as follows: the commissioner of the department\nof housing preservation and development, who shall serve as chairperson,\nthe commissioner of finance, the director of management and budget, two\npublic members to be appointed by the mayor and two public members to be\nappointed by the governor. The public members first appointed by the\nmayor or the governor, as may be the case, shall serve for terms ending\ntwo and four years respectively from January first next succeeding the\ndate of their appointment. Their successors shall serve for terms of\nfour years each. Members shall continue in office until their successors\nhave been appointed and qualified. The mayor or the governor shall fill\nany vacancy which may occur by reason of death, resignation or otherwise\nin a manner consistent with the original appointment. A public member\nmay be removed by the mayor or the governor, whichever appointed such\nmember, for cause, but not without an opportunity to be heard in person\nor by counsel, in such member's defense, upon not less than ten days'\nnotice.\n 2. (a) The members, officers and employees of the corporation shall be\nsubject to the conflicts of interest provisions of chapter sixty-eight\nof the New York city charter and the rules promulgated thereunder by the\nNew York city conflicts of interest board. Such members, officers and\nemployees shall not be subject to the provisions of article eighteen of\nthe general municipal law or the provisions of sections seventy-three,\nseventy-three-a and seventy-four of the public officers law.\n (b) The members, officers and employees of the corporation shall be\nsubject to the provisions of section 12-110 of the administrative code\nof the city of New York pertaining to the filing of annual disclosure\nreports with the New York city conflicts of interest board, and for such\npurpose the members shall be deemed to be compensated members of the\ncorporation.\n (c) Notwithstanding any inconsistent provisions of this or any other\ngeneral, special or local law, no officer or employee of the state, or\nof any civil division thereof, or of any public corporation, as defined\nin the general construction law, shall be deemed to have forfeited or\nshall forfeit such person's office or employment or any benefits\nprovided under the retirement and social security law or under any\npublic retirement system maintained by the state or by the civil\ndivisions thereof by reason of such person's acceptance of membership on\nor by virtue of such person being an officer, employee or agent of the\ncorporation. A member shall not receive a salary or other compensation\nfor services rendered pursuant to this article but shall be entitled to\nreimbursement for such member's actual and necessary expenses incurred\nin the performance of such services. The members may engage in private\nemployment or in a profession or business, unless otherwise prohibited\nfrom doing so by virtue of holding another public office, subject to the\nprovisions of chapter sixty-eight of the New York city charter and the\nrules promulgated thereunder by the New York city conflicts of interest\nboard.\n 3. The powers of the corporation shall be vested in and exercised by\nno less than four of the members thereof then in office. The corporation\nmay delegate to one or more of its members, officers, agents or\nemployees such powers and duties as it may deem proper.\n 4. The corporation and its corporate existence shall continue until\nterminated by law; provided, however, that no such law shall take effect\nso long as the corporation shall have notes, bonds, or other obligations\noutstanding. Upon termination of the existence of the corporation all of\nits rights and properties shall pass to and be vested in the city.\n