2023 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.  A  notification  of  the
  expiration  of  such  agreement  shall  be delivered to the affected tax
  jurisdiction two years prior to the expiration  of  such  agreement  and
  immediately upon early termination of an agreement;
15. To establish and reestablish its fiscal year; and
16. To do all things necessary or convenient to carry out its purposes
  and exercise the powers expressly given in this title.