NY Pub Auth L § 1971 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 12 1971 - Statement of Legislative Findings and Purposes.

§  1971.  Statement of legislative findings and purposes. It is hereby   found and declared that there exists on  the  lower  West  side  of  the   county  of  New  York,  North of Battery Park and on and adjacent to the   Hudson River, a blighted area, defined in this title as the Battery Park   project  area,  marked  by  substandard,  insanitary,  deteriorated  and   deteriorating  conditions,  in  which  area  there  exists  obsolete and   dilapidated buildings and  structures,  including  piers,  of  defective   construction and outmoded design, lacking proper sanitary facilities and   adequate  fire  and  safety  protection, and with insufficient light and   ventilation  and  inadequate  maintenance;   buildings   or   structures   abandoned  or  not  utilized  in  whole  or in part; obsolete systems of   utilities;  poorly  or   improperly   designed   street   patterns   and   intersections  with  inadequate access to areas; traffic congestion; and   obsolete street widths, sizes and shapes, all of which hamper and impede   the proper and economic development of such area and of the city of  New   York and of the state as a whole.It  is further found and declared that such area is no longer suitable   or useful for piers or for facilities appurtenant  to  the  loading  and   unloading  of  commercial  cargo,  and that retaining piers in such area   creates a blighting effect on such area and on surrounding areas and  is   detrimental  to  the  development  of  such  area  and to the growth and   prosperity of the county and city of New York and  of  the  state  as  a   whole.It  is  hereby  declared  that  the  improvement  of  such  area,  the   elimination of pier facilities and of the  present  structures  therein,   and  the  replanning,  reconstruction  and  redevelopment  of  such area   including the filling of the Hudson River at such area up to the present   pierhead line, the preparation of the resulting  land  for  development,   and  the creation in such area, in cooperation with the city of New York   and the private sector, of a mixed commercial and residential community,   with adequate utilities systems and civic and public facilities such  as   schools,  open  public  spaces, recreational and cultural facilities, is   necessary for the prosperity and welfare of the people of  the  city  of   New  York  and  of  the state as a whole, and is a public use and public   purpose for which tax exemptions may be granted, and that the powers and   duties of  battery  park  city  authority  as  hereinafter  recited  are   necessary and proper for the purpose of achieving such ends.It  is hereby further found and declared that there continues to exist   throughout the city of New York a seriously inadequate  supply  of  safe   and  sanitary  dwelling  accommodations  for persons and families of low   income. This condition is contrary to the public interest and  threatens   the  health,  safety, welfare, comfort and security of the people of the   state. The ordinary operations of private enterprise cannot  provide  an   adequate  supply of safe and sanitary dwelling accommodations at rentals   which persons and families  of  low  income  can  afford.  In  order  to   encourage  the  investment  of private capital and provide such dwelling   accommodations, provision should be  made  for  mortgage  loans  at  low   interest  rates to housing companies which, subject to regulations as to   rents, profits, dividends and disposition of their property, supply such   dwelling accommodations and other facilities incidental  or  appurtenant   thereto to such persons and families.Therefore,  it  is  hereby  found  and declared that Battery Park city   authority, through the issuance  of  bonds  and  notes  to  the  private   investing  public,  by  encouraging maximum participation by the private   sector of the economy, including the sale or lease  of  the  authority's   interest  in  projects at the earliest time deemed feasible, and through   participation in programs undertaken by  the  state,  its  agencies  and   subdivisions,  and  by the federal government, may provide or obtain the    capital resources  necessary  to  provide  dwelling  accommodations  for   persons  and  families  of  low  income,  and  facilities  incidental or   appurtenant thereto, and, where necessary, to carry out  the  clearance,   replanning,  reconstruction  and  rehabilitation of such substandard and   insanitary areas.It is hereby further found  and  declared  that  the  acquisition  and   construction  of adequate, safe and sanitary dwelling accommodations for   persons and families of  low  income  and  such  facilities  as  may  be   incidental  or  appurtenant thereto, are public uses and public purposes   for which public money  may  be  loaned  and  private  property  may  be   acquired  and  tax exemptions granted, and that the powers and duties of   battery park city authority or its subsidiaries as  hereinafter  recited   are  necessary  and  proper  for  the purpose of achieving the ends here   recited.