2023 New York Laws › PBA - Public Authorities › Article 8 - Miscellaneous Authorities › Title 35 - Roosevelt Island Operating Corporation › 2799-DDDD - Powers of the Corporation.

§ 2799-dddd. Powers of the corporation. The corporation's powers shall
  be  limited to carrying out the development, management and operation of
  Roosevelt Island. In  carrying  out  such  development,  management  and
  operation, the corporation shall have the power to:
1. Sue and be sued;
2. Have a seal and alter the same at pleasure;
3. Make and alter by-laws for its organization and internal management
  and  make  rules  and  regulations governing the use of its property and
  facilities;
4. Make and execute contracts and all other instruments  necessary  or
  convenient for the exercise of its powers and functions under this act;
5.  Acquire in the name of the corporation by purchase, grant or gift,
  or by the exercise of the  power  of  eminent  domain  pursuant  to  the
  eminent  domain  procedure law, or otherwise, real or personal property,
  or  any  interest  therein  deemed  necessary  or  desirable   for   the
  development,  management  or  operation  of Roosevelt Island, including,
  without limitation,  leasehold  interest,  air  and  subsurface  rights,
  easements  and  lands  under water at the site of Roosevelt Island or in
  the general vicinity thereof, and to subject such property  or  interest
  therein  to  a  purchase  money  or  other  lien or security interest in
  connection with the acquisition and development thereof,  provided  that
  the  corporation  shall  have  no authority or power to issue any notes,
  bonds or other debt obligations, whether for the  purpose  of  financing
  the development of Roosevelt Island or otherwise;
6.  Hold  and  dispose  of real or personal property for its corporate
  purposes;
7. Appoint officers, agents and employees, prescribe their duties  and
  fix  their  compensation  in accordance with a staffing and compensation
  plan submitted to and approved by the director of the budget;
8. Engage the services of private consultants on a contract basis  for
  rendering professional and technical assistance advice;
9.   Procure  insurance  against  any  loss  in  connection  with  its
  activities, properties and other assets, in such amount  and  from  such
  insurers as it deems desirable;
10. Charge and collect fees, rents and other charges for the occupancy
  or other use of real or personal property or facilities owned, operated,
  managed or regulated by the corporation;
11.  Accept  any gifts or grants of money or property, or financial or
  other aid in any form, from the federal government, the  state,  or  the
  city  (or  any instrumentality of any such government) or from any other
  source and, subject to the provisions of this title and other applicable
  law, to comply with any conditions of such assistance  and  execute  any
  contracts or other instruments in connection therewith;
12. Invest any funds of the corporation, or any other monies under its
  custody  and  control not required for immediate use or disbursement, at
  the discretion of the corporation, in obligations of the  state  or  the
  United  States  government  or obligations the principal and interest of
  which are guaranteed by the state or the United States government, or in
  any  other  obligations  in  which  the  comptroller  of  the  state  is
  authorized  to  invest  pursuant  to  section  ninety-eight of the state
  finance law;
13. Enter into such agreements with the state, the  urban  development
  corporation  and  the  city  as  the parties thereto deem appropriate to
  effectuate the provisions of this title;
14. Assume and perform the obligations  and  responsibilities  of  the
  urban  development  corporation  under the lease, the tramway franchise,
  and all other contracts, leases, and agreements heretofore entered  into
  by  the  urban  development  corporation  relating  to  the development,

  management  and  operation  of  Roosevelt  Island   (except   that   the
  corporation   shall   not   assume   any   of  the  rights,  duties  and
  responsibilities of the urban development corporation in relation to any
  bonds  or notes issued, or mortgages or security agreements held, by the
  urban development corporation or any of its subsidiaries)  and  exercise
  all  of  the  rights  of  the urban development corporation with respect
  thereto; and
15. Do and perform all other acts necessary or convenient to carry out
  the  foregoing  in  connection  with  the  development,  management   or
  operation of Roosevelt Island.