N.Y. ACA Law § 55.07 — New York Code / Act ACA / Title T / Article 55 / Section 55.07
Purposes and powers of the corporation
Status: in_force

§ 55.07. Purposes and powers of the corporation. The purpose of the\ncorporation shall be to serve as a focal point for the receipt and\nadministration of private gifts, devises and bequests of real and\npersonal property donated to further conservation, outdoor recreation\nand historic preservation purposes and advance public understanding,\nrevitalization and restoration of New York's waterfronts. Revitalization\nand restoration of the waterfront shall be undertaken pursuant to, and\nconsistent with an approved local waterfront revitalization plan or plan\napproved by the department of state, which has been the subject of a\npublic hearing. To carry out said purposes, the corporation shall have\npower:\n  1. To accept unconditional gifts, devises and bequests, and, with the\napproval of the governor, conditional gifts, devises and bequests, of\nreal or personal property for conservation, outdoor recreation, historic\npreservation purposes and public understanding, revitalization and\nrestoration of New York's waterfronts and to administer and expend funds\nmade available to the corporation for any of its purposes.\n  2. To acquire real property in the name of the people of the state of\nNew York by purchase, gift, devise or exchange of lands previously\nacquired by the trust and under its immediate jurisdiction or by\nappropriation through the agency of the commissioner of parks,\nrecreation and historic preservation or the commissioner of\nenvironmental conservation whenever the attorney general shall determine\nsuch appropriation is necessary to clear any defect or encumbrance on\nthe title of such real property which would hinder its use for the\nintended public purpose. The cost of such land acquisition, exclusive of\nservices furnished by any state department, board, commission or agency,\nshall be paid from funds available to the trust.\n  3. To acquire personal property in the name of the people of the state\nof New York by purchase, gift, bequest or exchange of personalty\npreviously acquired by the trust and under its immediate jurisdiction.\nThe cost of acquisition of such personal property shall be paid from\nfunds available to the trust.\n  4. To transfer immediate jurisdiction and control over any real or\npersonal property acquired by the trust to the office of parks,\nrecreation and historic preservation, the department of environmental\nconservation, the secretary of state or other appropriate public body or\nagency with its consent and the prior approval of the director of the\nbudget.\n  5. To undertake any work, including furnishing of services and\nmaterials, required to manage, preserve, restore, maintain or improve\nany real or personal property under its jurisdiction and, at the request\nof the office of parks, recreation and historic preservation, department\nof state or department of environmental conservation, upon real or\npersonal property under the jurisdiction of the requesting agency, after\nprior approval of the director of the budget.\n  6. To undertake research, studies and make reports relating to\nconservation, outdoor recreation, historic preservation matters and\npublic understanding, revitalization and restoration of New York's\nwaterfronts.\n  7. To sell and convey any real or personal property or interest\ntherein acquired by and under the jurisdiction of the trust and surplus\nto its needs, provided such sale and conveyance does not contravene the\nterms or conditions of any gift, devise or bequest, and to retain the\nproceeds derived therefrom for its corporate purposes.\n  8. To appoint and employ such officers, employees and staff and to\nretain such expert legal, financial, engineering, architectural and such\nother consultant services as it deems necessary to carry out its\ncorporate purposes.\n  9. To participate and cooperate with other public and private agencies\nhaving mutual interests and purposes in appropriate programs and\nprojects intended to preserve and improve the natural and historic\nresources of the state and advance public understanding, revitalization\nand restoration of New York's waterfronts in furtherance of the\neducation, welfare and enjoyment of its people.\n  10. To administer, manage or operate any property acquired by the\ntrust pending transfer of jurisdiction thereof and to retain for its\ncorporate purposes any receipts, revenue or income derived therefrom\nduring the pendency of such transfer.\n  11. To sue and be sued.\n  12. To have a seal and alter the same at pleasure.\n  13. To do all things necessary or convenient to carry out the purposes\nof this corporation.\n