§ 554. Powers of an agency. Subject to the provisions of article\nfifteen of this chapter, an agency is authorized to plan and undertake\none or more urban renewal projects and shall have the powers necessary\nor convenient to carry out and effectuate such project or projects and\nthe purposes and provisions of this article and article fifteen of this\nchapter, including but not limited to the following powers: (1) to sue\nand be sued; (2) to have a seal and alter the same at pleasure; (3) to\nhave perpetual succession; (4) to make and execute contracts and all\nother instruments necessary or convenient for the exercise of its powers\nand functions; (5) to make and alter by-laws for its organization and\ninternal management; (6) to acquire or contract to acquire from any\nperson, firm, corporation or government, by subsidy, contribution, gift,\ngrant, bequest, devise, purchase, pursuant to the provisions of the\neminent domain procedure law, or otherwise, real or personal property or\nany interest therein, including but not limited to air rights, and\neasements or other rights of user, necessary for the use and development\nof such air rights, to be developed as air rights sites for the\nelimination of the blighting influences over an area or areas consisting\nprincipally of land in streets, alleys, highways, and other public\nrights of way, railway or subway tracks, bridge or tunnel approaches or\nentrances, or other similar facilities which have a blighting influence\non the surrounding area and over which air rights sites are to be\ndeveloped for the elimination of such blighting influences, provided,\nhowever, that the acquisition of any air rights over railroad tracks,\nrights-of-way or facilities and easements or other rights of user\nnecessary for the use and development of such air rights are to be\nsubject to the provisions of section fifty-one-a of the railroad law;\n(7) to appoint officers, agents and employees, prescribe their duties,\nfix their compensation and delegate to one or more of such officers,\nagents or employees such powers or duties as it may deem proper; (8)\nwith the consent of the municipality to use agents, employees, and\nfacilities of the municipality, paying to the municipality its agreed\nproportion of the compensation or costs; (9) to insure or provide for\nthe insurance of its property or operations as required by law and also\nagainst such other risks as it may deem advisable; (10) to invest any\nmoneys held in reserve or sinking funds or any moneys not required for\nimmediate use or disbursement at the discretion of the agency in\nobligations of the state or the United States government or obligations\nof which the principal and interest are guaranteed by the state or the\nUnited States government; (11) to cooperate with the federal government\nand apply for and accept advances, loans, grants, subsidies,\ncontributions and any other form of financial assistance from the\nfederal government, or from the state, county, municipality or other\npublic body or from any sources public or private, for the purposes of\nthis article and article fifteen of this chapter; and to give such\nsecurity as may be required and to enter into and carry out contracts or\nagreements in connection therewith; provided, however, that any\napplication for a loan, subsidy or grant to the federal government or\nthe state shall be subject to the prior approval of the governing body;\nand to include in any contract for financial assistance with the federal\ngovernment for or with respect to an urban renewal project, or with\nrespect to any other program authorized under the federal housing act of\nnineteen hundred forty-nine, and all other federal laws amendatory and\nsupplemental thereto, such conditions imposed pursuant to federal laws\nas the agency may deem reasonable and appropriate and which are not\ninconsistent with the purposes of this article or article fifteen of\nthis chapter. Such conditions may include but
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.