New York · statute · N.Y. Urban Development Corporation Act 174/68 Law · 108 active provisions
Chapter 174 of the laws of 1968 Section 1. Short title. 2. Statement of legislative findings and purposes. 3. Definitions. 4. New York state urban development corporation. 5. Powers of the corporation. 6. Sale or lease of land use improvement projects. 6-a*. Sale or lease of infrastructure projects. * NB Not implemente…
§ 1. Short title. This act shall be known and may be cited as the "New York state urban development corporation act".
§ 2. Statement of legislative findings and purposes. It is hereby found and declared that there exists in urban areas of this state a condition of substantial and persistent unemployment and underemployment which causes hardship to many individuals and families, wastes vital human resources, increases the public assist…
§ 3. Definitions. As used in this act, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent: (1) "Bonds" and "notes". The bonds and notes respectively issued by the corporation pursuant to this act. (2) "Comptroller". The comptroller of…
§ 4. New York state urban development corporation. (1) There is hereby created the New York state urban development corporation. The corporation shall be a corporate governmental agency of the state, constituting a political subdivision and public benefit corporation. Its membership shall consist of nine directors as f…
§ 5. Powers of the corporation. Except as otherwise limited by this act, the corporation shall have power: (1) To sue and be sued; (2) To have a seal and alter the same at pleasure; (3) To make and execute contracts and all other instruments necessary or convenient for the exercise of its powers and functions under thi…
§ 6. Sale or lease of land use improvement projects. (1) The corporation may sell or lease for a term not exceeding ninety-nine years all or any portion of the real or personal property constituting a land use improvement project to any person, firm, partnership or corporation, either public or private, upon such terms…
* § 6-a. Sale or lease of infrastructure projects. (1) Notwithstanding the provisions of any general, special or local law, subject to any agreement with noteholders or bondholders, the corporation may sell or lease any infrastructure project, without public bidding or public sale, for such price or rental and upon suc…
§ 7. Sale or lease of residential projects. (1) The corporation may sell or lease for a term not exceeding ninety-nine years a residential project only to a housing company or to a municipality or housing authority. It may enter into a contract for such sale or lease either prior to, at the date of, or subsequent to th…
§ 8. Sale or lease of industrial projects. (1) Notwithstanding the provisions of any general, special or local law, subject to any agreement with noteholders or bondholders, the corporation may sell or lease any industrial project, without public bidding or public sale, for such price or rental and upon such terms as m…
§ 9. Sale or lease of civic projects. (1) Subject to any agreement with noteholders or bondholders, the corporation may sell or lease for a term not exceeding ninety-nine years any civic project to the state or any agency or instrumentality thereof, to any municipality or agency or instrumentality thereof, to any publi…
§ 9-a. Financial assistance for small and medium-sized business assistance projects. The corporation may provide loans for small and medium-sized business assistance projects for costs associated with: (1) The renovation or rehabilitation of industrial plants that are economically inefficient due to the need for change…
§ 9-b. For any positions opened as a result of assistance provided pursuant to section nine-a of this act, industrial firms so assisted shall first consider persons eligible to participate in federal job training partnership act (P.L. 97-300) programs who shall be referred to the industrial firm by administrative entit…
§ 9-c. Rules and regulations. The corporation shall, assisted by the commissioner of economic development and in consultation with the department of economic development, promulgate rules and regulations in accordance with the state administrative procedure act. Such rules and regulations shall be consistent with the p…
§ 9-d. Reports and evaluation. (1) Reporting. The corporation shall, on or before October 1, 1988 and on or before each October first thereafter, submit a report to the governor and the legislature on the operations and accomplishments of the small and medium-sized business assistance program. The report to be submitte…
§ 9-e. Creating a Puerto Rican and Latino business development center. The corporation shall provide, with the assistance of the commissioner of economic development and in consultation with such commissioner, a Puerto Rican and Latino business development center for the purposes of rendering technical assistance and m…
§ 9-f. Special assistance for small and medium-sized businesses which are adversely affected by the absence of eligible reservists ordered to active duty with the armed forces. (1) In addition to loans for small and medium-sized business assistance projects authorized by this act, the corporation is hereby authorized t…
§ 10. Findings of the corporation. Notwithstanding any other provision of this act, the corporation shall not be empowered to undertake the acquisition, construction, reconstruction, rehabilitation or improvement of a project unless the corporation finds: (a) in the case of a residential project: (1) That there exists,…
§ 11. Construction contracts. (1) Construction contracts let by the corporation shall be in conformity with the applicable provisions of section one hundred thirty-five of the state finance law, provided, however, that construction contracts let by subsidiaries of the corporation which are housing companies shall be go…
§ 12. Subsidiaries: how created. (1) The corporation shall have the right to exercise and perform its powers and functions through one or more subsidiary corporations. The corporation by resolution may direct any of its directors, officers or employees to organize a subsidiary corporation pursuant to either the busines…
§ 13. Acquisition of real property. The corporation, upon making a finding that it is necessary or convenient to acquire any real property for its immediate or future use, may acquire such property in any lawful manner, pursuant to the provisions of the eminent domain procedure law, notwithstanding that such property m…
§ 13-a. Conveyance of state lands. The commissioner of general services shall have power, in his discretion, from time to time to grant and convey to the corporation, upon such terms and conditions including consideration as the commissioner of general services may fix and determine, unappropriated state lands, lands u…
§ 14. Acquisition of real property from a municipality or an urban renewal agency. (1) Notwithstanding anything to the contrary contained in article fifteen or article fifteen-A of the general municipal law or in any general, special or local law applicable to the sale of real property by a municipality or an urban ren…
§ 15. Special provisions relating to residential projects. (1) Notwithstanding any provision of law to the contrary, whenever a residential project is owned by or leased to a subsidiary which is a limited profit housing company, or is sold or leased to a limited profit housing company, such project shall be deemed to b…
§ 16. Cooperation with municipalities. (1) In effectuating the purposes of this act, the corporation and community advisory committees created pursuant to section four of this act shall work closely, consult and cooperate with local elected officials and community leaders at the earliest practicable time. The corporati…