N.Y. PBG Law § 629 — New York Code / Act PBG / Article 15 / Section 629
Powers and duties of the trust
Status: in_force

§ 629. Powers and duties of the trust. The trust shall have the\nfollowing powers and duties:\n  1. to sue and be sued;\n  2. to have a seal and alter the same at pleasure;\n  3. to make and, as necessary, to amend and repeal by-laws for the\ntrust and the management and regulation of its affairs not inconsistent\nwith the provisions of this article;\n  4. to appoint the president of the trust and fix the president's\ncompensation, pursuant to section six hundred twenty-eight of this\narticle, and to execute direct oversight of the president and other\nmanagement in the effective and ethical management of the trust, and\nestablish policies regarding the payment of salary, compensation and\nreimbursements to, and establish rules for the time and attendance of\nthe president and management;\n  5. to engage or assist in the development, design, construction,\nreconstruction, improvement, modernization, rehabilitation, repairing,\nand operation of housing facilities pursuant to section two hundred\ntwenty of the labor law;\n  6. to acquire or transfer real and personal property and improvements\nthereon, or any interest therein, by any method, necessary or convenient\nfor the exercise of its functions, powers and duties; provided that such\ntransfer shall not be utilized to avoid the use of a project labor\nagreement or payment of the prevailing wage requirements set forth in\nsection two hundred twenty of the labor law;\n  7. to encumber residential property and buildings held by the trust\nand limit use to residents who are low-income families as defined in\nsubdivision eleven of section six hundred twenty-seven of this article\nand other residents as defined in subdivision seventeen of section six\nhundred twenty-seven of this article;\n  8. to make and execute contracts and all other instruments necessary\nor convenient for the exercise of its functions, powers and duties,\nincluding procurement contracts consistent with applicable provisions of\nthis article. Notwithstanding any provision of law to the contrary,\nincluding but not limited to article eight of this chapter, the trust\nmay enter into contracts, consistent with applicable provisions of this\narticle, with NYCHA or on behalf of and for the benefit of NYCHA;\n  9. to enter into agreements with the NYCHA or other entities for the\nprovision of management, maintenance and other services;\n  10. notwithstanding the provisions of section twenty-five hundred four\nof the insurance law or any other provision of law to the contrary, to\nprocure or cause to be placed or procured insurance on behalf of itself\nand others against any loss in connection with its activities,\nproperties and other assets, in such amounts and from such insurers as\nit deems desirable;\n  11. to enter into agreements with public agencies and public entities\nfor the receipt of services;\n  12. to borrow and loan funds and issue bonds, notes or other\nobligations consistent with this article;\n  13. to form or participate as members or partners of private entities,\nwhich may include but are not limited to, not-for-profit corporations,\nhousing development fund corporations, limited liability corporations,\nand limited partnerships, to further the purposes and powers given and\ngranted by this section;\n  14. to earn fees and other proceeds from the activities and powers\ngiven and granted by this section;\n  15. to apply for or accept from any source any gifts, grants,\ndonations, or conveyances of land, money, other real or personal\nproperty, or other items of value, or loans of funds or property or\nfinancial or other aid or credit assistance in any form, including any\nguaranty, line of credit, or grant, from the federal government or any\nagency or instrumentality thereof, from the state or any agency or\ninstrumentality thereof, from the city or any agency or instrumentality\nthereof, or from any other source, for any or all of the purposes\nspecified in this article, and it may comply, subject to the provisions\nof this article, with the terms and conditions thereof;\n  16. prior to the approval of any rule or regulation affecting rights\nand protections afforded to residents of housing facilities, including,\nbut not limited to, resident protections and opportunities pursuant to\nsection six hundred thirty-one of this article, lease revisions,\nschedules of special charges for services, repairs and utilities, and\nrules and regulations to be incorporated into the lease by reference,\nthe trust shall post a notice containing the proposed rule or regulation\non the website of the trust and in a prominent location in the affected\nhousing facility. Such notice shall include (a) a statement of the basis\nand purpose of the proposed rule, (b) the time and place of the meeting\nat which the board will provide residents an opportunity to provide oral\ncomment on such proposed rule, provided that a meeting to provide\nresidents an opportunity to provide oral comment shall not be required\nif such rule is required by law with only minor, if any, exercise of\ndiscretion by the trust, or does not adversely affect the protections\nafforded to the residents of the housing facilities, and (c) an\nopportunity to submit written comments and the final date for receipt of\nwritten comments. The trust may adopt a rule or regulation after\nreceiving written comments on the proposed rule or regulation for a\nperiod of at least thirty days. The trust shall consider all comments\nreceived in such period prior to adopting such rule or regulation. In\nthe event the trust determines that immediate adoption of any rule or\nregulation is necessary for the preservation of health, safety or\ngeneral welfare and that compliance with the foregoing requirements of\nthis subdivision would be contrary to the public interest, such proposed\nitem may be adopted on an emergency basis. The trust shall provide\nwritten justification for such determination and make such justification\npublicly available including via its website and in a prominent location\nin the affected housing facility. Any such immediate adoption shall only\nremain in effect for sixty days, and during such time the trust shall\ncomply with the requirements of this subdivision in order for the\nadoption of the rule or regulation to become permanent. All notice shall\nbe undertaken in compliance with language access requirements in federal\nand state law, as applicable; and\n  17. to do any and all things necessary or convenient to carry out and\nexercise the powers given and granted by this article.\n