N.Y. PBG Law § 628 — New York Code / Act PBG / Article 15 / Section 628
New York city public housing preservation trust
Status: in_force

§ 628. New York city public housing preservation trust. 1. There is\nhereby established a public benefit corporation to be known as the "New\nYork city public housing preservation trust". The purpose of such trust\nshall be the design, development, construction, reconstruction,\nimprovement, modernization, rehabilitation, repairing and operation of\nhousing facilities.\n  2. The trust shall be governed by and its powers shall be exercised by\na board of trustees consisting of nine members. The members shall be the\nNYCHA CEO, the NYCHA CFO, the deputy mayor for housing and economic\ndevelopment of the city of New York, or another deputy mayor designated\nby the mayor if there is no deputy mayor with that designation, three\nmembers appointed by the NYCHA CEO, including two housing facility\nresident members and one member at large, provided that one such housing\nfacility resident member shall be selected from two candidates nominated\nby the recognized citywide council of presidents, or an equivalent\nsuccessor body, and one such housing facility resident member shall be\nselected from two candidates nominated by the resident advisory board,\nor an equivalent successor body, and three members appointed by the\nmayor, including two housing facility resident members, provided that\none such housing facility resident member shall be selected from two\ncandidates nominated by the recognized citywide council of presidents,\nor an equivalent successor body, and one member who shall represent\nemployees of NYCHA, as applicable, and be selected from two candidates\nnominated by organizations representing employees of NYCHA or the trust,\nas applicable. The NYCHA CEO shall be the chair of the trust. The board\nof trustees of the trust shall appoint the president of the trust. The\nterm of each member, other than members serving by virtue of their\npositions, shall be three years, except at initial appointment when the\nterms shall be staggered so that no more than two members shall have\nterms that end in any given year, provided that the term of only one\nmember appointed by the mayor shall end in any given year.\n  3. Each appointed member shall continue in office until a successor\nhas been appointed and qualified unless otherwise removed as follows. A\nmember may be removed by the NYCHA CEO or mayor, whichever appointed\nsuch member, upon the filing in the office of the trust and serving upon\nthe member the reasons therefor. Such document setting forth the reasons\nshall be made available to the general public which shall include, but\nnot be limited to, publishing such reasons on the websites of the trust\nand NYCHA. In the event a vacancy occurs in the office of an appointed\nmember, the vacancy shall be filled in the same manner as was the\noriginal appointment of the member whose office became vacant.\n  4. Appointed members may engage in private employment, or in a\nprofession or business, unless otherwise prohibited by law, rule or\nregulation, provided, however, that notwithstanding any applicable\nprovision of law, the members shall be subject to the limitations\ncontained in sections two thousand six hundred three, two thousand six\nhundred four, two thousand six hundred five, and two thousand six\nhundred six of the New York city charter. The trust shall be an agency\nand such members shall be public servants for the purposes of such\nsections. In addition, such members shall be subject to the provisions\nof section one thousand one hundred sixteen of the New York city charter\nand shall for the purposes of such section be considered officers of the\ncity. Further, such members, the president and certain critical\nemployees of the trust as designated by the board or the president,\nshall be subject to the provisions of section 12-110 of the\nadministrative code of the city of New York pertaining to the filing of\nannual disclosure reports with the city conflicts of interest board, and\nfor such purpose, the members of the board of trustees shall be deemed\nto be compensated members of the trust.\n  5. The board shall provide for the holding of regular meetings, and\nsuch special meetings, at the call of the chair of the trust, as may be\nnecessary. A majority of the whole number of members shall constitute a\nquorum for the transaction of business. The powers of the board shall be\nvested in and exercised by a majority of the whole number of the members\nthereof. Any one or more members of the board may participate in a\nmeeting of the trust by means of videoconferencing consistent with\narticle seven of the public officers law.\n  6. Members of the board, other than members serving by virtue of their\npositions, shall receive a stipend in the amount of two hundred fifty\ndollars for every four hours of work performed for the trust, not to\nexceed one thousand five hundred dollars per month. In addition, members\nshall be reimbursed for the actual and necessary expenses incurred by\nthem in the performance of their official duties as members of the board\nof trustees.\n  7. The board shall appoint a president of the trust and determine the\ncompensation of the president. The president, who shall not be a member\nof the board, shall be the chief executive officer of the trust and\nshall be responsible for the discharge of the executive and\nadministrative functions and powers of the trust, including the exercise\nof any powers delegated by the board to the president. The president\nshall serve at the pleasure of the board.\n  8. The trust and its corporate existence shall continue until\nterminated by law, provided, however, that no such law shall take effect\nso long as the trust shall have bonds, notes and other obligations\noutstanding, unless adequate provision has been made for the payment\nthereof. Upon the termination of the existence of the trust, all its\nrights and properties shall pass to and be vested in NYCHA.\n  9. Notwithstanding any provision of law to the contrary, no officer or\nemployee of the state, or of any civil division thereof, or of any\npublic corporation, as defined in the general construction law,\nincluding NYCHA, shall be deemed to have forfeited or shall forfeit such\nperson's office or employment or any benefits provided under the\nretirement and social security law or under any public retirement system\nmaintained by the state or by the civil divisions thereof, or by any\nsuch public corporation, by reason of such person's acceptance of\nmembership on the board of the trust or by virtue of such person being\nan officer or employee of the trust.\n