Title UDA, Urban Development Corporation Act 174/68

§ 26. State payments to municipalities and political subdivisions. In order to prevent undue loss of revenues to municipalities and political subdivisions, there shall be annually apportioned and paid by the state, during the then current state fiscal year, to any municipality o…

§ 27. Remedies of noteholders and bondholders. (1) In the event that the corporation shall default in the payment of principal of or interest on any issue of notes or bonds after the same shall become due, whether at maturity or upon call for redemption, and such default shall c…

§ 28. Monies of the corporation. (1) All monies of the corporation, except as otherwise authorized or provided in this act, shall be paid to the commissioner of taxation and finance as agent of the corporation, who shall not commingle such monies with any other monies. Such moni…

§ 29. Assistance by state officers, departments, boards and commissions. (1) The department of audit and control, department of law, and all other state agencies may render such services to the corporation within their respective functions as may be requested by the corporation.…

§ 3. Definitions. As used in this act, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent: (1) "Bonds" and "notes". The bonds and notes respectively issued by the corporation pursuant to this a…

§ 30. Reports and evaluations. (a) Annual fiscal report. The corporation shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee, the comptroller and the director of the budget within 6 months after the en…

§ 30-a. With respect to applications for assistance submitted pursuant to this act: (a) The corporation shall, upon receipt of an application or other formal request for funding for any project, provide notice of such application or request within ten days of such receipt to the…

§ 31. Court proceedings; preferences; venue. Any action or proceeding to which the corporation or the people of the state of New York may be parties, in which any question arises as to the validity of this act, shall be preferred over all other civil causes except election cause…

§ 31-a. Actions against corporation. Except in an action for wrongful death, in any case founded upon tort a notice of claim shall be required as a condition precedent to the commencement of an action or special proceeding against the corporation, any of it subsidiary corporatio…

§ 32. Special provisions relating to directors of the corporation and members of the business advisory council for urban development. Notwithstanding the provisions of any other law, any state instrumentality, including any state agency, trust fund or public benefit corporation …

§ 33. Inconsistent provisions of other laws superseded. Insofar as the provisions of this act are inconsistent with the provisions of any other law, general, special or local, the provisions of this act shall be controlling.

§ 34. Construction. This act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.

§ 35. Separability. If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the c…

§ 36. Limitation on new projects The corporation shall not expend any proceeds of the sale of assets to, or borrowings from, the New York state project finance agency for the construction or development of any new project which on February twenty-fifth, nineteen hundred seventy-…

§ 37. Assistance; application and evaluation, generally. (1) The corporation shall develop guidelines for application for assistance through each of its programs which are consistent with the rules published pursuant to section 9-c of this act and pursuant to the state administr…

§ 38. Small business and minority-owned and women-owned business enterprises transportation capital assistance and guaranteed loan program. 1. To provide financial assistance to small business and minority-owned and women-owned business enterprises engaged in government sponsore…

§ 39. Lease and operation of seventh regiment armory. (a) The corporation is hereby authorized to act on behalf of the state and the division of military and naval affairs to enter into a lease or subsequent leases and the management agreement on behalf of the state and the divi…

§ 4. New York state urban development corporation. (1) There is hereby created the New York state urban development corporation. The corporation shall be a corporate governmental agency of the state, constituting a political subdivision and public benefit corporation. Its member…

§ 41. International computer chip research and development center. 1. Notwithstanding the provisions of any other law to the contrary, the urban development corporation is hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs at…

§ 42. New York state modernization projects. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the Roose…

§ 43. 2008 and 2009 Economic development initiatives. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for …

§ 44. Issuance of certain bonds or notes. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the regional…

§ 45. NY-SUNY 2020. 1. Notwithstanding the provisions of any other law to the contrary, the urban development corporation of the state of New York is hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the implementation o…

§ 46. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for restoring state properties damaged as a result o…

§ 47. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the office of information technology services, d…

§ 48. Authorization for transportation infrastructure finance and innovation act loans. 1. (a) Notwithstanding the provisions of any other law to the contrary, each of the authorized issuers, as such term is defined in paragraphs (a) and (b) of subdivision 1 of section 68-a of t…

§ 49. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the state and municipal facilities program and o…

§ 5. Powers of the corporation. Except as otherwise limited by this act, the corporation shall have power: (1) To sue and be sued; (2) To have a seal and alter the same at pleasure; (3) To make and execute contracts and all other instruments necessary or convenient for the exerc…

§ 50. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the urban development corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs undertaken by or on behalf of the …

§ 51. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the urban development corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the nonprofit infrastructure c…

§ 52. Small business innovation research (SBIR)/small business technology transfer (STTR) technical assistance program. 1. The small business innovation research/small business technology transfer technical assistance program, hereafter referred to as "the program", is hereby cr…

§ 52-a. Small business innovation research and small business technology transfer matching grant program. 1. The corporation, subject to available appropriations and in consultation with the department of economic development's division for small business, shall establish a matc…

§ 53. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the urban development corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the acquisition of equipment, …

§ 54. 1. Findings and declaration of need. (a) The state of New York finds and determines that the global spread of the COVID-19 coronavirus disease is having and is expected to continue to have a significant impact on the health and welfare of individuals in the state as well a…

§ 54-a. Personal income tax notes; 2022. 1. Findings and declaration of need. (a) The state of New York finds and determines that the global spread of the COVID-19 pandemic has had and is expected to continue to have a significant adverse impact on the health and welfare of indi…

§ 54-b. Personal income tax notes. 1. Findings and declaration of need. (a) The state of New York finds and determines that shortfalls in the state's financial plan arising from adverse economic and fiscal events and risks, disasters and emergencies, including but not limited to…

§ 55. 1. Findings and declaration of need. (a) The state of New York finds and determines that the global spread of the COVID-19 coronavirus disease is having and is expected to continue to have a significant impact on the health and welfare of individuals in the state as well a…

§ 55-a. Line of credit facilities; 2022. 1. Findings and declaration of need. (a) The state of New York finds and determines that the global spread of the COVID-19 pandemic has had and is expected to continue to have a significant adverse impact on the health and welfare of indi…

§ 56. State-supported debt; 2021. 1. In light of the significant impact that the global spread of the COVID-19 coronavirus disease is having and is expected to continue to have on the health and welfare of individuals in the state as well as on the financial condition of the sta…

§ 56-a. State-supported debt; 2022. 1. In light of the continuing adverse impact that the COVID-19 pandemic is expected to have on the health and welfare of individuals in the state as well as to the financial condition of the state during the state's 2022 fiscal year, and notwi…

§ 57. 1. Notwithstanding the provisions of any other law to the contrary, the dormitory authority and the urban development corporation are hereby authorized to issue bonds or notes in one or more series for the purpose of funding project costs for the Empire Station Complex pro…

* § 58. Gateway project. 1. Findings and declaration of need. The state of New York finds and determines that providing funding for the passenger rail transportation project commonly known as the gateway project, is needed to preserve and improve the functionality and strengthen…

§ 58. Reporting. 1. Definitions. For the purposes of this section, the following terms shall have the following meanings: (a) "Economic development benefits" shall mean: (i) available state funds including, but not limited to, state grants, loans, loan guarantees, loan interest …

§ 59. The dormitory authority of the state of New York, the New York state urban development corporation, and the New York state thruway authority are hereby authorized to issue bonds in one or more series under either article 5-C or article 5-F of the state finance law for the …

§ 6. Sale or lease of land use improvement projects. (1) The corporation may sell or lease for a term not exceeding ninety-nine years all or any portion of the real or personal property constituting a land use improvement project to any person, firm, partnership or corporation, …

* § 6-a. Sale or lease of infrastructure projects. (1) Notwithstanding the provisions of any general, special or local law, subject to any agreement with noteholders or bondholders, the corporation may sell or lease any infrastructure project, without public bidding or public sa…

§ 7. Sale or lease of residential projects. (1) The corporation may sell or lease for a term not exceeding ninety-nine years a residential project only to a housing company or to a municipality or housing authority. It may enter into a contract for such sale or lease either prio…

§ 8. Sale or lease of industrial projects. (1) Notwithstanding the provisions of any general, special or local law, subject to any agreement with noteholders or bondholders, the corporation may sell or lease any industrial project, without public bidding or public sale, for such…

§ 9. Sale or lease of civic projects. (1) Subject to any agreement with noteholders or bondholders, the corporation may sell or lease for a term not exceeding ninety-nine years any civic project to the state or any agency or instrumentality thereof, to any municipality or agency…

§ 9-a. Financial assistance for small and medium-sized business assistance projects. The corporation may provide loans for small and medium-sized business assistance projects for costs associated with: (1) The renovation or rehabilitation of industrial plants that are economical…