2023 New York Laws › ACA - Arts and Cultural Affairs › Title E - New York State Cultural Resources Act › Article 21 - Trust for Cultural Resources of the City of New York › 21.07 - Special Powers of the Trust Relating to Assisting Participating Cultural Institutions.

§ 21.07. Special   powers   of   the   trust   relating  to  assisting
  participating cultural institutions. In addition to such powers  as  are
  conferred  elsewhere in article twenty of this chapter and this article,
  the trust shall have the following powers which may be exercised, at the
  discretion  of  the  board  of  trustees,  solely  and  exclusively   in
  furtherance  of its corporate purposes with or without public auction or
  bidding:
1. to undertake surveys  of  the  present  and  anticipated  needs  of
  cultural institutions in the city, including without limitation the need
  for  development  of  the  facilities  of such institutions, in order to
  determine whether or not the trust may effectively exercise  its  powers
  and fulfill its purposes in cooperation with any such institution;
2.   to   acquire,   construct,  install,  equip,  furnish,  renovate,
  modernize, and otherwise develop combined-use  facilities  and  cultural
  facilities or cause such combined-use facilities and cultural facilities
  to  be  so developed, in accordance with this article and article twenty
  of this title, to acquire  in  connection  therewith  real  property  or
  interests in real property of a participating cultural institution or of
  the  city,  or of the developer or other persons whose participation the
  trust deems necessary for  the  development  of  any  such  combined-use
  facility  or cultural facility, subject (if applicable) to the retention
  or creation by any such parties of any future or remainder interests  in
  such  property,  all  of  which  shall be valid notwithstanding any rule
  against perpetuities, and in connection therewith, to install  or  cause
  to  be  installed  water,  fuel,  gas,  electrical,  telephone, heating,
  air-conditioning  and  other  utility  services,  including  appropriate
  connections;
3.  to maintain, repair, keep up, manage and operate its real property
  and any combined-use facility or part thereof or any  cultural  facility
  or  part  thereof  developed  by or pursuant to an agreement with it, by
  means which may include the enforcement of its rules and regulations  in
  the  manner described in subdivision d of section two hundred two of the
  not-for-profit corporation law with  the  same  effect  as  though  such
  subdivision  applied  to the trust and to such property and combined-use
  facility or cultural facility;
4. to  offer  to  convey  and  to  convey  all  or  any  part  of  the
  non-institutional  portion  of  a  combined-use facility or any interest
  therein, and to take any and all actions deemed necessary or appropriate
  by  the  trust  to  advertise,  promote,  encourage,  and  effect   such
  conveyances,  all  future  or remainder interests created or retained by
  the trust in connection therewith which shall be  valid  notwithstanding
  any rule against perpetuities;
5.  to  convey  with  or  without  consideration,  to  a participating
  cultural  institution  the  institutional  portion  of  a   combined-use
  facility  or  a  cultural  facility  developed  in cooperation with such
  institution and any real property held by the trust in  connection  with
  such development;
6.  to  enter into a partnership, joint venture or other enterprise in
  any capacity deemed  by  it  to  be  appropriate,  for  the  purpose  of
  developing  and operating a combined-use facility or any part thereof or
  a cultural facility or any part thereof;
7. to convey, without public auction or bidding, any real property  to
  a  developer  for  the  purpose  of  developing  therein  or  thereon  a
  combined-use facility, or a part  or  portion  thereof,  or  a  cultural
  facility,  or  any  part  or portion thereof, subject to the creation or
  retention by the trust and/or a participating  cultural  institution  of
  such  future  or  remainder  interests  in  such  property  as  it deems

  appropriate, all of  which  shall  be  valid  notwithstanding  any  rule
  against perpetuities;
8.  to  purchase  or lease the institutional portion of a combined-use
  facility or all or any portion of a cultural facility from the developer
  thereof for use and occupancy by a participating cultural institution;
9. to furnish cultural institutions with advice and with technical and
  other assistance; to act as liaison with federal,  state  and  municipal
  and other local authorities and with users and occupants of combined-use
  facilities  and  cultural  facilities  with  respect  to  the  cultural,
  recreational   and   educational   activities   provided   by   cultural
  institutions;  and  otherwise  to  foster  and  encourage greater public
  knowledge of, and  participation  in,  the  cultural,  recreational  and
  educational activities of such institutions;
10. to organize one or more wholly-owned subsidiary corporations under
  any applicable provision of law and to perform through such subsidiaries
  or  cause such subsidiaries to perform all or any part of its powers and
  functions;
11. to establish and promulgate such  rules  and  regulations  as  the
  trust  may  deem  necessary,  convenient  or  desirable  for the use and
  operation of any combined-use facility, or  part  thereof,  or  cultural
  facility,  or  part  thereof,  and  for  the  use  of  any real property
  developed or to be developed by or pursuant to  an  agreement  with  it,
  including but not limited to rules and regulations governing the conduct
  and safety of the public on such premises;
12. to make and execute such agreements, including without limitation,
  instruments  of  conveyance  and  agreements with participating cultural
  institutions   with   respect   to   the   architectural   and    design
  characteristics  of  any  combined-use facility or cultural facility, as
  are necessary or convenient for the exercise of its corporate powers and
  the fulfillment of its purposes; and
13. to make loans in accordance with article twenty of this chapter.