N.Y. Const. art. XVIII, § 2: Idem; powers of legislature in aid of

§ 2. For and in aid of such purposes, notwithstanding any provision in

any other article of this constitution, but subject to the limitations

contained in this article, the legislature may: make or contract to make

or authorize to be made or contracted capital or periodic subsidies by

the state to any city, town, village, or public corporation, payable

only with moneys appropriated therefor from the general fund of the

state; authorize any city, town or village to make or contract to make

such subsidies to any public corporation, payable only with moneys

locally appropriated therefor from the general or other fund available

for current expenses of such municipality; authorize the contracting of

indebtedness for the purpose of providing moneys out of which it may

make or contract to make or authorize to be made or contracted loans by

the state to any city, town, village or public corporation; authorize

any city, town or village to make or contract to make loans to any

public corporation; authorize any city, town or village to guarantee the

principal of and interest on, or only the interest on, indebtedness

contracted by a public corporation; authorize and provide for loans by

the state and authorize loans by any city, town or village to or in aid

of corporations regulated by law as to rents, profits, dividends and

disposition of their property or franchises and engaged in providing

housing facilities or nursing home accommodations; authorize any city,

town or village to make loans to the owners of existing multiple

dwellings for the rehabilitation and improvement thereof for occupancy

by persons of low income as defined by law; grant or authorize tax

exemptions in whole or in part, except that no such exemption may be

granted or authorized for a period of more than sixty years; authorize

cooperation with and the acceptance of aid from the United States; grant

the power of eminent domain to any city, town or village, to any public

corporation and to any corporation regulated by law as to rents,

profits, dividends and disposition of its property or franchises and

engaged in providing housing facilities.

As used in this article, the term "public corporation" shall mean any

corporate governmental agency (except a county or municipal corporation)

organized pursuant to law to accomplish any or all of the purposes

specified in this article.