NY Gen Mun L § 858 (2021)
2021 New York Laws GMU - General Municipal Article 18-A - Industrial Development Title 1 - Agencies, Organization and Powers 858 - Purposes and Powers of the Agency.

§  858. Purposes and powers of the agency.  The purposes of the agency shall be to promote, develop, encourage and  assist  in  the  acquiring, constructing,  reconstructing,  improving,  maintaining,  equipping  and furnishing industrial, manufacturing, warehousing, commercial, research, renewable  energy  and  recreation   facilities   including   industrial pollution   control  facilities,  educational  or  cultural  facilities, railroad  facilities,  horse  racing   facilities,   automobile   racing facilities,  renewable  energy  projects  and continuing care retirement communities, provided, however,  that,  of  agencies  governed  by  this article,  only  agencies  created  for  the  benefit of a county and the agency created for the  benefit  of  the  city  of  New  York  shall  be authorized   to  provide  financial  assistance  in  any  respect  to  a continuing care  retirement  community,  and  thereby  advance  the  job opportunities,  health,  general  prosperity and economic welfare of the people of the  state  of  New  York  and  to  improve  their  recreation opportunities,  prosperity  and standard of living; and to carry out the aforesaid purposes, each agency shall have the following powers:  (1) To sue and be sued;  (2) To have a seal and alter the same at pleasure;  (3) To  acquire,  hold  and  dispose  of  personal  property  for  its corporate purposes;  (4)  To  acquire  by  purchase,  grant,  lease,  gift, pursuant to the provisions of the eminent domain procedure law, or otherwise and to use, real property or rights or easements therein necessary for its corporate purposes in compliance with the local zoning  and  planning  regulations and  shall take into consideration regional and local comprehensive land use plans and state designated heritage area management  plans,  and  to sell,  convey, mortgage, lease, pledge, exchange or otherwise dispose of any such property in such manner as the agency shall determine.  In  the case of railroad facilities, however, the phrase to use real property or rights  or  easements  therein  shall  not  be  interpreted  to  include operation by the agency of rail service upon or in conjunction with such facilities.  (5) To make by-laws for the management and regulation of  its  affairs and,  subject  to agreements with its bondholders, for the regulation of the use of a project or projects.  (6) With the consent of the municipality, to use agents, employees and facilities of the  municipality,  paying  the  municipality  its  agreed proportion of the compensation or costs;  (7)  To  appoint  officers,  agents  and employees, to prescribe their qualifications and to fix their compensation and to pay the same out  of funds  of  the agency, provided, however, that an elected officer of the municipality may not serve as a compensated officer, agent  or  employee of the agency;  (8)  (a)  To  appoint  an  attorney,  who  may  be  the counsel of the municipality, and to fix the attorney's compensation for services  which shall  be  payable  to  the  attorney,  and to retain and employ private consultants for professional and technical assistance and advice;  (b) An attorney acting as bond counsel for a project  must  file  with the  agency  a  written  statement in which the attorney identifies each party to the transaction which such attorney represents. If bond counsel provides any legal services to parties other than the agency the written statement must describe the nature of legal services  provided  by  such bond  counsel to all parties to the transaction, including the nature of the services provided to the agency.  (9) To make contracts and  leases,  and  to  execute  all  instruments necessary  or  convenient  to  or  with any person, firm, partnership or corporation, either public  or  private;  provided,  however,  that  any  extension of an existing contract, lease or other agreement entered into by an agency with respect to a project shall be guided by the provisions of this article;  (10)  To  acquire,  construct,  reconstruct, lease, improve, maintain, equip or furnish one or more projects;  (11) To accept gifts, grants, loans, or contributions from, and  enter into  contracts  or  other  transactions with, the United States and the state or any agency of either of them, any municipality, any  public  or private  corporation  or  any  other  legal  entity, and to use any such gifts, grants, loans or contributions for any of its corporate purposes;  (12) To borrow money and to issue bonds and to provide for the  rights of the holders thereof;  (13)  To  grant options to renew any lease with respect to any project or projects and to grant options to buy any project at such price as the agency may deem desirable;  (14) To designate the depositories  of  its  money  either  within  or without the state;  (15)  To  enter  into  agreements requiring payments in lieu of taxes. Such agreements shall be in writing and in addition to other terms shall contain: the amount due annually to each affected tax jurisdiction (or a formula by which the amount due can be calculated), the name and address of the person, office or agency to which payment shall be delivered, the date on which payment shall be made, and the date on which payment shall be considered delinquent if not paid. Unless  otherwise  agreed  by  the affected  tax  jurisdictions,  any  such  agreement  shall  provide that payments in  lieu  of  taxes  shall  be  allocated  among  affected  tax jurisdictions in proportion to the amount of real property tax and other taxes  which  would have been received by each affected tax jurisdiction had the project not been tax exempt due to  the  status  of  the  agency involved in the project. A copy of any such agreement shall be delivered to  each  affected  tax  jurisdiction within fifteen days of signing the agreement. In the absence of any such  written  agreement,  payments  in lieu  of  taxes  made  by  an  agency  shall  be  allocated  in the same proportions as they had been prior to January  first,  nineteen  hundred ninety-three  for  so  long  as the agency's activities render a project non-taxable by affected tax jurisdictions;   * (16) To establish and re-establish its fiscal year;   * NB Effective until December 31, 2022   * (16) To establish and re-establish its fiscal year; and   * NB Effective December 31, 2022   * (17)  To  provide  loans  to  small  businesses  or   not-for-profit corporations as authorized in section eight hundred fifty-nine-c of this title; and   * NB Effective until December 31, 2022   * (17)  To  do  all  things  necessary  or convenient to carry out its purposes and exercise the powers expressly given in this title.   * NB Effective December 31, 2022   * (18) To  provide  grants  to  small  businesses  and  not-for-profit corporations,  as  defined in section eight hundred fifty-nine-c of this title, for the purpose of acquiring  personal  protective  equipment  or installing   fixtures   necessary   to   prevent  the  spread  of  novel coronavirus, COVID-19, during the period in which  executive  order  two hundred  two  of two thousand twenty, as amended, is in effect. In order to be eligible for  a  grant  pursuant  to  this  subdivision,  a  small business  or  not-for-profit  corporation  must meet the requirements of paragraph a of subdivision three of section eight  hundred  fifty-nine-c of  this  title.  No  industrial  development agency may provide a small  business or not-for-profit  corporation  with  more  than  ten  thousand dollars pursuant to this subdivision; and   * NB Repealed December 31, 2022   * (19)  To  do  all  things  necessary  or convenient to carry out its purposes and exercise the powers expressly given in this title.   * NB Repealed December 31, 2022