NY Pub Auth L § 1953 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 11 - Troy Industrial Development Authority 1953 - Purpose and Powers of the Authority.

§  1953.  Purpose  and  powers of the authority.   The purposes of the   authority shall be to promote, develop,  encourage  and  assist  in  the   acquiring,   constructing,   reconstructing,   improving,   maintaining,   equipping   and   furnishing   industrial,   manufacturing,   warehouse,   commercial   and  research  facilities  including  industrial  pollution   control facilities, transportation facilities including but not  limited   to  those relating to water, highway, rail and air, in one or more areas   of the city, particularly but not exclusively at the site  of  what  was   formerly  the  Troy  airport including an airstrip or airport located in   the  southern  section  of  the  city  and  thereby  advance   the   job   opportunities,  health,  general  prosperity and economic welfare of the   people of said city and to improve their standard of  living;  provided,   however,  that  the  authority  shall  not  undertake any project if the   completion thereof would result in  the  removal  of  an  industrial  or   manufacturing  plant  of the project occupant from one area of the state   to another area of the state or in the abandonment of one or more plants   or facilities  of  the  project  applicant  located  within  the  state,   provided, however, that neither restriction shall apply if the authority   shall  determine  on  the  basis  of  the application before it that the   project is reasonably necessary to discourage the project occupant  from   removing such other plant or facility to a location outside the state or   is  reasonably  necessary  to  preserve  the competitive position of the   project  occupant  in  its  respective  industry.  Except  as  otherwise   provided  for  in this section, no financial assistance of the authority   shall be provided in respect of any project where facilities or property   that are  primarily  used  in  making  retail  sales  to  customers  who   personally  visit  such facilities constitute more than one-third of the   total project cost. For the purposes of  this  article,  "retail  sales"   shall  mean: (i) sales by a registered vendor under article twenty-eight   of the tax law primarily engaged in the retail sale of tangible personal   property,  as  defined  in  subparagraph  (i)  of  paragraph   four   of   subdivision  (b)  of  section eleven hundred one of the tax law; or (ii)   sales of a service to such  customers.  Except,  however,  that  tourism   destination  projects shall not be prohibited by this paragraph. For the   purpose of this paragraph, "tourism destination" shall mean  a  location   or  facility which is likely to attract a significant number of visitors   from outside the economic development region as established  by  section   two  hundred thirty of the economic development law in which the project   is located.Notwithstanding the provisions of this section to the  contrary,  such   financial  assistance  may,  however,  be  provided  to  a project where   facilities or property that are primarily used in making retail sales of   goods or services to customers who personally visit such  facilities  to   obtain  such  goods  or  services  constitute more than one-third of the   total project cost, where: (i) the predominant purpose  of  the  project   would  be  to  make available goods or services which would not, but for   the project, be reasonably accessible to the residents of  the  city  of   Troy  because of a lack of reasonably accessible retail trade facilities   offering such goods or services; or (ii) the project  is  located  in  a   highly  distressed area. With respect to projects authorized pursuant to   this paragraph no project shall be approved unless the  authority  shall   find  after  the public hearing required by section twenty-three hundred   seven of this chapter that undertaking the project will serve the public   purposes of this article by preserving permanent, private sector jobs or   increasing the overall number of permanent, private sector jobs  in  the   state.  Where  the  authority  makes  such a finding, prior to providing   financial  assistance  to  the  project  by  the  authority,  the  chief   executive  officer of the city of Troy shall confirm the proposed action    of the authority. To carry out said purposes, the authority  shall  have   power: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   purpose;4.  To  acquire  by  purchase,  grant,  lease,  gift, condemnation, or   otherwise and to use, real  property  or  rights  or  easements  therein   necessary  for  its  corporate  purposes, and to sell, convey, mortgage,   lease, pledge, exchange or otherwise dispose of  any  such  property  in   such  manner  as  the  authority  shall  determine. With respect to real   property conveyed to it by the city, however, such power of  disposition   shall  be  limited  as  hereinafter provided in section nineteen hundred   fifty-five of this title;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 the project;6. With the  consent  of  the  city,  to  use  agents,  employees  and   facilities  of  the  city,  paying the city 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 authority, subject, however, to the provisions of the civil   service  law  as  hereinafter  provided  in  section  nineteen   hundred   fifty-four of this title;8.  To  appoint an attorney, who may be the corporation counsel of the   city, 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; provided that an   attorney acting as bond  counsel  for  a  project  must  file  with  the   authority  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  authority,  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 authority;9. To make contracts and leases upon such terms as the authority shall   deem appropriate, including without limitation leases  which  grant  the   tenant  of  a  project  an  option to renew or an option to purchase the   project, or both, at a fixed or otherwise  predetermined  price  and  to   execute all instruments necessary or convenient;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  designate  the  depositories  of  its  money either within or   without the state of New York;14. 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  authority   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 authority's activities render a project   non-taxable by affected tax jurisdictions.15. To establish and reestablish its fiscal year; and16. To do all things necessary or convenient to carry out its purposes   and exercise the powers expressly given in this title.