NY Pub Auth L § 1804 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 8 - New York Job Development Authority Subtitle I General Provisions Sub Title 1 - Subtitle I General Provisions 1804 - General Powers and Duties of the Authority.

§  1804.  General  powers  and duties of the authority. Subject to the   other provisions of this title and the provisions of any  contract  with   bondholders  or  noteholders,  the  authority  shall  have the following   powers in  addition  to  the  powers  specifically  conferred  upon  the   authority elsewhere in this title:1. To sue and be sued;2. To have a seal and alter the same at pleasure;3.  To  make  and  alter  by-laws  for  its  organization and internal   management;4. To make  rules  and  regulations  governing  the  exercise  of  its   corporate  powers  and  the  fulfillment of its corporate purposes under   this title,  which  rules  and  regulations  shall  be  filed  with  the   department of state in the manner provided by section one hundred two of   the  executive  law  and  to maintain its system of internal controls in   conformity  with  the  relevant  standards  specified  by  authoritative   national standard setting bodies;5.  To  make  loans  and  loan  guaranties secured by loan agreements,   mortgages, contracts and all other instruments necessary  or  convenient   for  the  exercise  of  its  corporate powers and the fulfillment of its   corporate purposes under this title; and to require the inclusion in any   lease or other agreement in respect of a project (a) such provisions  as   to  the  use  of  the  project  as  the  authority may deem necessary or   desirable for the fulfillment of its corporate  purposes  and  (b)  such   provisions  as  to  the  reporting to it by the parties to such lease or   other agreement of such information as it deems necessary to monitor (i)   compliance by such parties with the provisions of this  title  and  with   the  provisions  of  any  rules and regulations adopted pursuant to this   title and (ii) the progress of the project occupant or of  the  business   enterprise  described  in  section eighteen hundred twenty-seven of this   title in achieving the representations made in the application submitted   pursuant to section eighteen hundred twenty-four of this title;6. In connection with loans, loan guarantees, or any  applications  or   commitments  therefor,  to make and collect such fees and charges as the   authority shall determine to be reasonable;7. To purchase, receive, lease or otherwise acquire, and hold  in  the   name  of the state or otherwise, or contract to acquire from any person,   firm, corporation, municipality, federal  or  state  agency,  by  grant,   purchase,  or otherwise, and to sell, convey, mortgage, lease, pledge or   otherwise dispose of, upon such terms and conditions  as  the  authority   may  deem  advisable,  real  and  personal  property, together with such   rights and privileges as may be incidental and appurtenant  thereto  and   to the use thereof, including but not restricted to any real or personal   property acquired by the authority from time to time upon foreclosure of   any  mortgage  or  in the satisfaction of debts or in the enforcement of   obligations; provided, however, that the terms  and  conditions  of  any   sale  or  other  disposition by the authority of property conveyed to it   pursuant to section eighteen hundred thirty-a of  this  title  including   the  consideration  involved,  shall  be  subject to the approval of the   director of the budget, prior to such sale or other disposition;8. To sell at public or private sale, or pledge or  assign,  any  loan   made  by  the  authority and any mortgage or other obligation securing a   loan made by the authority;9. To foreclose on any real or personal property in respect  of  which   it has made a loan or issued a loan guarantee or commence or join in any   action  or  proceeding to protect or enforce any right conferred upon it   by law or by contract and to bid for and purchase such property  at  any   foreclosure  or  at  any other sale or acquire or take possession of any   such property; and in such event the authority  may  operate,  maintain,    administer, pay the principal of and interest on any obligation incurred   in  connection  with  such  property,  and  otherwise  deal  with,  such   property, in such manner as may be necessary or desirable to protect the   interest  of the authority therein; and further with regard to loans and   loan guarantees made by the  authority,  it  shall  have  the  right  to   require  at  the  time of the making of the loan or issuance of the loan   guarantee, or at any time thereafter, in a form acceptable to it, a deed   to all rights and interest  in  the  real  or  personal  property  as  a   security   interest,  such  deed  to  be  termed  a  "deed  in  lieu  of   foreclosure", and shall be empowered hereby to record such deed  upon  a   default in the payment or terms of any loan made by or guaranteed by the   authority,  and  to  thereby transfer to the authority by such recording   both title and all rights of ownership in such  property  in  accordance   with section eighteen hundred four-a of this article;10.  To  enter  into agreements to pay annual sums in lieu of taxes to   any municipality or taxing district of the state in respect of any  real   property   which   is  owned  by  the  authority  and  located  in  such   municipality or taxing district, provided, however, that the  amount  so   paid  for  any year upon any such property shall not exceed the sum last   paid as taxes on such property to such municipality or  taxing  district   prior to the time of its acquisition by the authority;11.  To procure insurance against any loss in connection with loans or   with real and personal property or other assets of the authority of  any   nature  whatsoever  in such amounts, and from such insurers, as it deems   desirable;12. To consent to the modification of  the  time  of  payment  of  any   installment  of  principal or interest, the rate of interest (within the   limits prescribed by sections  eighteen  hundred  sixteen  and  eighteen   hundred  twenty-one), the security, or any other terms of any loan, loan   guarantee, loan commitment, contract or agreement of any kind  to  which   the  authority is a party whenever it deems it necessary or desirable in   the fulfillment of the purposes of this title;13. To encourage the organization of  local  development  corporations   and  to  cooperate  with such corporations in the formation of plans for   improving employment opportunities within their areas of operation;13-a. To develop and  annually  update  a  five  year  strategic  plan   setting  forth the goals and objectives of the authority for each of the   next five years and annual operational  targets  that  are  designed  to   ensure  the  efficient and effective use of the authority's resources in   meeting such goals  and  objectives.  Such  strategic  plan  shall  also   include,  but  not  be  limited  to,  information as to the areas of the   state, if any, and the  categories  of  project  occupants  or  business   enterprises  as  described  in  section eighteen hundred twenty-seven of   this title, if any, where, and in regard  to  which,  it  will  seek  to   increase  its lending activity, and information as to the steps which it   plans on taking to so direct its lending  activity.  In  developing  and   updating  such  strategic  plan  the  authority  shall  utilize any area   employment opportunity improvement plans formulated in  accordance  with   subdivision thirteen of this section and such other information which it   deems  appropriate.  Such categories shall include but not be limited to   minority and  women-owned  businesses;  firms  located  in  economically   distressed  rural  and  urban  communities;  firms  employing  displaced   workers or economically disadvantaged individuals,  or  participants  in   job  training  programs  for  economically  disadvantaged individuals or   displaced workers; or firms, including, but not limited to,  cooperative   corporations, involved in acquiring existing businesses that the current   owners have proposed closing or have closed; 13-b.  To  adopt  and, as necessary, revise criteria and methods to be   used  by  the  authority  and  by  local  development  corporations   in   evaluating  loan  applications  in  accordance  with  the  provisions of   section eighteen hundred twenty-six of this title and  with  such  other   standards and procedures which it deems necessary and appropriate.13-c.  To  adopt  and,  as  necessary,  revise  criteria to be used in   determining the portion of the cost of individual projects which  should   be  financed  by  the authority. Such criteria shall encourage different   levels or degrees of financial assistance by the  authority.  Copies  of   such  criteria  and  methods  shall be provided to all local development   corporations;13-d. To require that any  new  employment  opportunities  created  in   connection with industrial or commercial projects financed through loans   or  loan guarantees from the authority shall be listed with the New York   state  department  of  labor  job  service   division   and   with   the   administrative  entity  of the service delivery area created pursuant to   the federal job training partnership act  (P.L.  97-300)  in  which  the   project  is  located  and  shall  first  consider  for  such  employment   opportunities persons eligible to participate in  federal  job  training   partnership  act  programs  who  shall be referred to such firms by such   administrative entities or by the job service division of the department   of labor; provided, however, that  nothing  contained  herein  shall  be   construed  to  require project occupants or business entities as defined   in section eighteen hundred twenty-seven of this title, to  violate  any   existing  collective  bargaining agreement with respect to the hiring of   new employees. Such listing shall be in a manner and form prescribed  by   the  authority  in  consultation  with the commissioner of labor and the   commissioner of economic development.13-e. To implement, on behalf of any local development corporation  so   requesting,   the  responsibilities  assigned  to  such  corporation  by   subdivision four of section eighteen hundred twenty-five of this title.14. To cooperate and act in conjunction with any organization,  public   or  private,  or federal or state agency the objects of which within any   area of the state are similar to the purposes of the authority;15. To accept gifts, grants or loans from, and enter into contracts or   other transactions with, any federal or state agency, any  municipality,   any private organization or any other source;16.  To  engage  the  services  of  bond counsel, accountants or other   private consultants on a contract basis for rendering  professional  and   technical assistance and advice;17.  To  procure  insurance  to  secure  the  payment of principal and   interest on any bonds, notes or other obligations of the authority;18. To do any and all things necessary or convenient to (a) carry  out   its  corporate  purposes,  (b)  exercise the powers given and granted in   this title, and (c) further the goals and  objectives  and  achieve  the   operational  targets set forth in the strategic plan adopted pursuant to   subdivision thirteen of this section.