N.Y. Arts and Cultural Affairs Law § 21.07: Special powers of the trust relating to assisting participating cultural institutions

§ 21.07. Special powers of the trust relating to assisting

participating cultural institutions. In addition to such powers as are

conferred elsewhere in article twenty of this chapter and this article,

the trust shall have the following powers which may be exercised, at the

discretion of the board of trustees, solely and exclusively in

furtherance of its corporate purposes with or without public auction or

bidding:

1. to undertake surveys of the present and anticipated needs of

cultural institutions in the city, including without limitation the need

for development of the facilities of such institutions, in order to

determine whether or not the trust may effectively exercise its powers

and fulfill its purposes in cooperation with any such institution;

2. to acquire, construct, install, equip, furnish, renovate,

modernize, and otherwise develop combined-use facilities and cultural

facilities or cause such combined-use facilities and cultural facilities

to be so developed, in accordance with this article and article twenty

of this title, to acquire in connection therewith real property or

interests in real property of a participating cultural institution or of

the city, or of the developer or other persons whose participation the

trust deems necessary for the development of any such combined-use

facility or cultural facility, subject (if applicable) to the retention

or creation by any such parties of any future or remainder interests in

such property, all of which shall be valid notwithstanding any rule

against perpetuities, and in connection therewith, to install or cause

to be installed water, fuel, gas, electrical, telephone, heating,

air-conditioning and other utility services, including appropriate

connections;

3. to maintain, repair, keep up, manage and operate its real property

and any combined-use facility or part thereof or any cultural facility

or part thereof developed by or pursuant to an agreement with it, by

means which may include the enforcement of its rules and regulations in

the manner described in subdivision d of section two hundred two of the

not-for-profit corporation law with the same effect as though such

subdivision applied to the trust and to such property and combined-use

facility or cultural facility;

4. to offer to convey and to convey all or any part of the

non-institutional portion of a combined-use facility or any interest

therein, and to take any and all actions deemed necessary or appropriate

by the trust to advertise, promote, encourage, and effect such

conveyances, all future or remainder interests created or retained by

the trust in connection therewith which shall be valid notwithstanding

any rule against perpetuities;

5. to convey with or without consideration, to a participating

cultural institution the institutional portion of a combined-use

facility or a cultural facility developed in cooperation with such

institution and any real property held by the trust in connection with

such development;

6. to enter into a partnership, joint venture or other enterprise in

any capacity deemed by it to be appropriate, for the purpose of

developing and operating a combined-use facility or any part thereof or

a cultural facility or any part thereof;

7. to convey, without public auction or bidding, any real property to

a developer for the purpose of developing therein or thereon a

combined-use facility, or a part or portion thereof, or a cultural

facility, or any part or portion thereof, subject to the creation or

retention by the trust and/or a participating cultural institution of

such future or remainder interests in such property as it deems

appropriate, all of which shall be valid notwithstanding any rule

against perpetuities;

8. to purchase or lease the institutional portion of a combined-use

facility or all or any portion of a cultural facility from the developer

thereof for use and occupancy by a participating cultural institution;

9. to furnish cultural institutions with advice and with technical and

other assistance; to act as liaison with federal, state and municipal

and other local authorities and with users and occupants of combined-use

facilities and cultural facilities with respect to the cultural,

recreational and educational activities provided by cultural

institutions; and otherwise to foster and encourage greater public

knowledge of, and participation in, the cultural, recreational and

educational activities of such institutions;

10. to organize one or more wholly-owned subsidiary corporations under

any applicable provision of law and to perform through such subsidiaries

or cause such subsidiaries to perform all or any part of its powers and

functions;

11. to establish and promulgate such rules and regulations as the

trust may deem necessary, convenient or desirable for the use and

operation of any combined-use facility, or part thereof, or cultural

facility, or part thereof, and for the use of any real property

developed or to be developed by or pursuant to an agreement with it,

including but not limited to rules and regulations governing the conduct

and safety of the public on such premises;

12. to make and execute such agreements, including without limitation,

instruments of conveyance and agreements with participating cultural

institutions with respect to the architectural and design

characteristics of any combined-use facility or cultural facility, as

are necessary or convenient for the exercise of its corporate powers and

the fulfillment of its purposes; and

13. to make loans in accordance with article twenty of this chapter.