N.Y. Public Authorities Law § 2799-oooo: Not-for-profit grant distribution

§ 2799-oooo. Not-for-profit grant distribution. 1. The corporation is

authorized to provide financial assistance in the form of grants to

not-for-profit corporations that provide direct services or benefits to

the residents of Roosevelt Island, the totality of such grants not to

exceed three per centum per annum of the operating budget of the

corporation, and upon the approval of a majority of the entire board of

the corporation.

2. Annually, within ninety days after the end of the fiscal year of

the corporation, the corporation shall post a report on its website that

shall list and identify each grant recipient in such fiscal year, the

amount provided to each recipient, and a general description of the

public benefit of each grant.