2023 New York Laws › PBG - Public Housing › Article 15 - New York City Public Housing Preservation Trust › 628 - New York City Public Housing Preservation Trust.

§  628.  New  York city public housing preservation trust. 1. There is
  hereby established a public benefit corporation to be known as the  "New
  York  city public housing preservation trust". The purpose of such trust
  shall  be  the  design,   development,   construction,   reconstruction,
  improvement,  modernization,  rehabilitation, repairing and operation of
  housing facilities.
2. The trust shall be governed by and its powers shall be exercised by
  a board of trustees consisting of nine members. The members shall be the
  NYCHA CEO, the NYCHA CFO, the deputy  mayor  for  housing  and  economic
  development  of the city of New York, or another deputy mayor designated
  by the mayor if there is no deputy mayor with  that  designation,  three
  members  appointed  by  the  NYCHA  CEO,  including two housing facility
  resident members and one member at large, provided that one such housing
  facility resident member shall be selected from two candidates nominated
  by the recognized citywide  council  of  presidents,  or  an  equivalent
  successor  body,  and one such housing facility resident member shall be
  selected from two candidates nominated by the resident  advisory  board,
  or  an  equivalent  successor  body,  and three members appointed by the
  mayor, including two housing facility resident  members,  provided  that
  one  such  housing  facility  resident member shall be selected from two
  candidates nominated by the recognized citywide council  of  presidents,
  or  an  equivalent  successor  body,  and one member who shall represent
  employees of NYCHA, as applicable, and be selected from  two  candidates
  nominated by organizations representing employees of NYCHA or the trust,
  as  applicable. The NYCHA CEO shall be the chair of the trust. The board
  of trustees of the trust shall appoint the president of the  trust.  The
  term  of  each  member,  other  than  members serving by virtue of their
  positions, shall be three years, except at initial appointment when  the
  terms  shall  be  staggered  so that no more than two members shall have
  terms that end in any given year, provided that the  term  of  only  one
  member appointed by the mayor shall end in any given year.
3.  Each  appointed  member shall continue in office until a successor
  has been appointed and qualified unless otherwise removed as follows.  A
  member  may  be  removed  by the NYCHA CEO or mayor, whichever appointed
  such member, upon the filing in the office of the trust and serving upon
  the member the reasons therefor. Such document setting forth the reasons
  shall be made available to the general public which shall  include,  but
  not  be limited to, publishing such reasons on the websites of the trust
  and NYCHA. In the event a vacancy occurs in the office of  an  appointed
  member,  the  vacancy  shall  be  filled  in  the same manner as was the
  original appointment of the member whose office became vacant.
4. Appointed members  may  engage  in  private  employment,  or  in  a
  profession  or  business,  unless  otherwise  prohibited by law, rule or
  regulation,  provided,  however,  that  notwithstanding  any  applicable
  provision  of  law,  the  members  shall  be  subject to the limitations
  contained in sections two thousand six hundred three, two  thousand  six
  hundred  four,  two  thousand  six  hundred  five,  and two thousand six
  hundred six of the New York city charter. The trust shall be  an  agency
  and  such  members  shall  be  public  servants for the purposes of such
  sections. In addition, such members shall be subject to  the  provisions
  of section one thousand one hundred sixteen of the New York city charter
  and shall for the purposes of such section be considered officers of the
  city.   Further,  such  members,  the  president  and  certain  critical
  employees of the trust as designated by  the  board  or  the  president,
  shall   be   subject   to  the  provisions  of  section  12-110  of  the
  administrative code of the city of New York pertaining to the filing  of
  annual disclosure reports with the city conflicts of interest board, and

  for  such  purpose, the members of the board of trustees shall be deemed
  to be compensated members of the trust.
5.  The  board  shall provide for the holding of regular meetings, and
  such special meetings, at the call of the chair of the trust, as may  be
  necessary.  A majority of the whole number of members shall constitute a
  quorum for the transaction of business. The powers of the board shall be
  vested in and exercised by a majority of the whole number of the members
  thereof. Any one or more members of  the  board  may  participate  in  a
  meeting  of  the  trust  by  means  of videoconferencing consistent with
  article seven of the public officers law.
6. Members of the board, other than members serving by virtue of their
  positions, shall receive a stipend in the amount of  two  hundred  fifty
  dollars  for  every  four  hours of work performed for the trust, not to
  exceed one thousand five hundred dollars per month. In addition, members
  shall be reimbursed for the actual and necessary  expenses  incurred  by
  them in the performance of their official duties as members of the board
  of trustees.
7.  The board shall appoint a president of the trust and determine the
  compensation of the president. The president, who shall not be a  member
  of  the  board,  shall  be  the chief executive officer of the trust and
  shall  be  responsible  for  the  discharge   of   the   executive   and
  administrative functions and powers of the trust, including the exercise
  of  any  powers  delegated  by the board to the president. The president
  shall serve at the pleasure of the board.
8.  The  trust  and  its  corporate  existence  shall  continue  until
  terminated by law, provided, however, that no such law shall take effect
  so  long  as  the  trust  shall  have bonds, notes and other obligations
  outstanding, unless adequate provision has been  made  for  the  payment
  thereof.  Upon  the  termination  of the existence of the trust, all its
  rights and properties shall pass to and be vested in NYCHA.
9. Notwithstanding any provision of law to the contrary, no officer or
  employee of the state, or of any  civil  division  thereof,  or  of  any
  public   corporation,  as  defined  in  the  general  construction  law,
  including NYCHA, shall be deemed to have forfeited or shall forfeit such
  person's office  or  employment  or  any  benefits  provided  under  the
  retirement and social security law or under any public retirement system
  maintained  by  the  state  or by the civil divisions thereof, or by any
  such public corporation,  by  reason  of  such  person's  acceptance  of
  membership  on  the board of the trust or by virtue of such person being
  an officer or employee of the trust.