N.Y. UDR Law § 6 — New York Code / Act UDR / Section 6
Purposes of the corporation
Status: in_force

§ 6. Purposes of the corporation. (1) To facilitate the comprehensive\ndevelopment of urban areas throughout the state and to promote the\nhealth, safety, welfare and prosperity of the people of the state by\nmaximizing the resources, talents and energies of the private sector of\nthe economy, by encouraging local initiative and local participation in\nthe projects of the corporation, and by relieving the burdens of\ngovernment in connection with such development.\n  (2) In cooperation with the private sector of the economy and with\nfederal, state and local government, to assist in providing safe and\ndecent housing for persons and families which cannot afford the prices\nand rentals of housing provided through the unaided efforts of private\nenterprise, and in connection therewith:\n  (a) To carry out and to facilitate the acquisition, construction,\nreconstruction, and rehabilitation of housing projects, as defined\nherein and to sell or lease such projects to families which would\notherwise be unable to afford safe and decent housing accommodations.\n  (b) To make loans or grants for the acquisition, construction,\nreconstruction and rehabilitation of housing projects, as defined herein\nand in connection therewith to provide technical advice and assistance\nto persons and firms undertaking such rehabilitation and to encourage\nnew means and technologies to carry out such rehabilitation to the end\nthat persons previously unable to enjoy the benefits of home ownership\nwill be able to afford their own homes.\n  (c) To utilize the state capital grant low rent assistance program,\npursuant to section forty-four-a of the private housing finance law, in\nhousing projects of the corporation, in order to increase the\navailability of housing accommodations for persons and families of low\nincome.\n  (3) In order to reduce unemployment, provide opportunities for\nadditional and maximum employment, the creation of better job\nopportunities, and the improvement of individual job skills, to attract\nnew industries to urban areas of the state and to promote the economy\nand prosperity of such areas, to carry out, facilitate and make loans\nfor the acquisition, construction, reconstruction and rehabilitation of\nindustrial plants and facilities, including the furnishing of machinery\nand equipment therein, manufacturing, commercial, research and warehouse\nand other business facilities; and to lease space in such facilities to\nqualified users thereof.\n  (4) To acquire land, whether or not such land constitutes a\nsubstandard or insanitary area, for any of its corporate purposes,\nincluding the development of housing and industrial projects, as defined\nherein, to clear, improve and prepare such land for development, to\ncarry out the development of such land, or to make the same available by\nsale, lease or otherwise to private investors and developers when such\ndisposition is, in the judgment of the corporation, necessary or\ndesirable for the development of the community in which such land is\nsituated.\n  (5) To cooperate with the private sector of the economy, including the\nurban development guarantee fund of New York, and with the federal,\nstate and local governments, and agencies thereof, including the New\nYork state urban development corporation, in order to coordinate public\nand private efforts in the development of urban areas throughout the\nstate, including housing, industry and commerce, educational and\nrecreational facilities, and transportation and other public services\nand facilities.\n  (6) To encourage and facilitate, in connection with any of its\nprojects, participation in construction work by residents of the area in\nwhich such projects are to be located, and to encourage and facilitate\nparticipation by such residents in the business operations of tenants\nand occupants of industrial projects of the corporation.\n  (7) To conduct, assist, promote and encourage scientific,\ntechnological and administrative research and experimentation in the\nfields of low cost housing, of rehabilitating, reconstructing and\nrenewing blighted, deteriorated and deteriorating areas, and of\nprotecting against the hazards of unemployment and underemployment; of\ndeveloping and testing and encouraging the development and testing of\nnew methods of constructing, rehabilitating and improving low cost\nhousing, of developing and testing and encouraging the development and\ntesting of new methods of rehabilitating, reconstructing, and renewing\nblighted, deteriorated and deteriorating areas; of planning for the\ncomprehensive development of communities; of acting as a clearing house\nand distributing agency of the results of such research and\nexperimentation, and of conducting, assisting and encouraging research\nand experimentation on such other aspects of providing safe, sanitary\nand adequate low cost housing; of rehabilitating, reconstructing and\nrenewing blighted or deteriorated and deteriorating areas, and of\nproviding increased job opportunities as the corporation shall deem\nadvisable.\n