N.Y. Arts and Cultural Affairs Law § 55.07: Purposes and powers of the corporation

§ 55.07. Purposes and powers of the corporation. The purpose of the

corporation shall be to serve as a focal point for the receipt and

administration of private gifts, devises and bequests of real and

personal property donated to further conservation, outdoor recreation

and historic preservation purposes and advance public understanding,

revitalization and restoration of New York's waterfronts. Revitalization

and restoration of the waterfront shall be undertaken pursuant to, and

consistent with an approved local waterfront revitalization plan or plan

approved by the department of state, which has been the subject of a

public hearing. To carry out said purposes, the corporation shall have

power:

1. To accept unconditional gifts, devises and bequests, and, with the

approval of the governor, conditional gifts, devises and bequests, of

real or personal property for conservation, outdoor recreation, historic

preservation purposes and public understanding, revitalization and

restoration of New York's waterfronts and to administer and expend funds

made available to the corporation for any of its purposes.

2. To acquire real property in the name of the people of the state of

New York by purchase, gift, devise or exchange of lands previously

acquired by the trust and under its immediate jurisdiction or by

appropriation through the agency of the commissioner of parks,

recreation and historic preservation or the commissioner of

environmental conservation whenever the attorney general shall determine

such appropriation is necessary to clear any defect or encumbrance on

the title of such real property which would hinder its use for the

intended public purpose. The cost of such land acquisition, exclusive of

services furnished by any state department, board, commission or agency,

shall be paid from funds available to the trust.

3. To acquire personal property in the name of the people of the state

of New York by purchase, gift, bequest or exchange of personalty

previously acquired by the trust and under its immediate jurisdiction.

The cost of acquisition of such personal property shall be paid from

funds available to the trust.

4. To transfer immediate jurisdiction and control over any real or

personal property acquired by the trust to the office of parks,

recreation and historic preservation, the department of environmental

conservation, the secretary of state or other appropriate public body or

agency with its consent and the prior approval of the director of the

budget.

5. To undertake any work, including furnishing of services and

materials, required to manage, preserve, restore, maintain or improve

any real or personal property under its jurisdiction and, at the request

of the office of parks, recreation and historic preservation, department

of state or department of environmental conservation, upon real or

personal property under the jurisdiction of the requesting agency, after

prior approval of the director of the budget.

6. To undertake research, studies and make reports relating to

conservation, outdoor recreation, historic preservation matters and

public understanding, revitalization and restoration of New York's

waterfronts.

7. To sell and convey any real or personal property or interest

therein acquired by and under the jurisdiction of the trust and surplus

to its needs, provided such sale and conveyance does not contravene the

terms or conditions of any gift, devise or bequest, and to retain the

proceeds derived therefrom for its corporate purposes.

8. To appoint and employ such officers, employees and staff and to

retain such expert legal, financial, engineering, architectural and such

other consultant services as it deems necessary to carry out its

corporate purposes.

9. To participate and cooperate with other public and private agencies

having mutual interests and purposes in appropriate programs and

projects intended to preserve and improve the natural and historic

resources of the state and advance public understanding, revitalization

and restoration of New York's waterfronts in furtherance of the

education, welfare and enjoyment of its people.

10. To administer, manage or operate any property acquired by the

trust pending transfer of jurisdiction thereof and to retain for its

corporate purposes any receipts, revenue or income derived therefrom

during the pendency of such transfer.

11. To sue and be sued.

12. To have a seal and alter the same at pleasure.

13. To do all things necessary or convenient to carry out the purposes

of this corporation.