Title UDA, Urban Development Corporation Act 174/68

§ 22. Exemption from taxation. The exercise of the powers granted by\nthis act will be in all respects for the benefit of the people of this\nstate, for the increase of their commerce, welfare and prosperity, and\nfor the improvement of their health and living conditions, and wi…

§ 23. Notes and bonds as legal investments. The notes and bonds of the\ncorporation are hereby made securities in which all public officers and\nbodies of this state and all municipalities and municipal subdivisions,\nall insurance companies and associations, and other persons c…

§ 24. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any bonds or notes issued under this act, that\nthe state will not limit or alter the rights hereby vested in the\ncorporation to fulfill the terms of any agreements made with the hold…

§ 25. State's right to require redemption of bonds. Notwithstanding\nand in addition to any provisions for the redemption of bonds which may\nbe contained in any contract with the holders of the bonds, the state\nmay, upon furnishing sufficient funds therefor, require the corpor…

§ 26. State payments to municipalities and political subdivisions. In\norder to prevent undue loss of revenues to municipalities and political\nsubdivisions, there shall be annually apportioned and paid by the state,\nduring the then current state fiscal year, to any municipalit…

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

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

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

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

§ 30. Reports and evaluations. (a) Annual fiscal report. The\ncorporation shall submit to the governor, the chairman of the senate\nfinance committee, the chairman of the assembly ways and means\ncommittee, the comptroller and the director of the budget within 6\nmonths after th…

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

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

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

§ 32. Special provisions relating to directors of the corporation and\nmembers of the business advisory council for urban development.\nNotwithstanding the provisions of any other law, any state\ninstrumentality, including any state agency, trust fund or public\nbenefit corporat…

§ 33. Inconsistent provisions of other laws superseded. Insofar as the\nprovisions of this act are inconsistent with the provisions of any other\nlaw, general, special or local, the provisions of this act shall be\ncontrolling.\n

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

§ 35. Separability. If any clause, sentence, paragraph, section or\npart of this act shall be adjudged by any court of competent\njurisdiction to be invalid, such judgment shall not affect, impair or\ninvalidate the remainder thereof, but shall be confined in its operation\nto t…

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

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

§ 38. Small business and minority-owned and women-owned business\nenterprises transportation capital assistance and guaranteed loan\nprogram. 1. To provide financial assistance to small business and\nminority-owned and women-owned business enterprises engaged in\ngovernment spon…

§ 39. Lease and operation of seventh regiment armory. (a) The\ncorporation is hereby authorized to act on behalf of the state and the\ndivision of military and naval affairs to enter into a lease or\nsubsequent leases and the management agreement on behalf of the state\nand the …

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

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

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

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

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

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

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

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

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

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

§ 5. Powers of the corporation. Except as otherwise limited by this\nact, the corporation shall have power:\n (1) To sue and be sued;\n (2) To have a seal and alter the same at pleasure;\n (3) To make and execute contracts and all other instruments necessary\nor convenient for t…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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