N.Y. Public Authorities Law § 826: Central New York Regional Market Authority

§ 826. Central New York Regional Market Authority. 1. There is hereby

created and established a district to be known as the "central New York

regional market district," hereinafter in this title referred to as "the

district," which shall embrace all the territory included within the

following named counties: Cayuga, Cortland, Madison, Oneida, Onondaga,

Oswego, that territory in Wayne county lying east of the new pre-emption

line. For the accomplishment of the purposes hereinafter indicated

relative to that district there is hereby created and established a

public benefit corporation, to be known as "Central New York Regional

Market Authority," hereinafter in this title referred to as "the

authority." Such authority shall have perpetual existence and the power

to acquire by the exercise of the right of eminent domain or otherwise

such real estate within the district and other property as may be

necessary, to sue and be sued, to incur debts, liabilities and

obligations, to issue bonds and other evidences of indebtedness, to have

a seal, and to exercise all powers authorized by this title and

reasonably necessary for accomplishing its purposes, subject to the

provisions herein contained and the constitution and laws of the United

States and of New York state. Such powers shall be exercised in the name

of the "Central New York Regional Market Authority."

2. In fulfilling the authority's mission, the board shall work

cooperatively and in consultation with the department of agriculture and

markets to ensure the proper development of agriculture and regional

market facilities, in the central New York regional market district. The

board and the department of agriculture and markets, hereinafter in this

title referred to as "the department," shall jointly develop a plan for

the future development and viability of agriculture and regional market

facilities in the district. Such plan shall include both short-term and

long-term goals and objectives as well as actual and projected revenues

and expenditures. Such plan shall annually allocate no less than

seventy-five percent of the authority's available funds for the

creation, development, and enhancement of agriculture and regional

market facilities, in the district. For purposes of this subdivision,

available funds shall mean the net amount available after contractually

obligated expenditures are subtracted from, but not be limited to, cash,

cash equivalents, certificates of deposit, and other receivables

available. The board and department shall meet annually prior to the

close of the authority's fiscal year to evaluate the effectiveness of

the use of funds for that fiscal year, review the goals and objectives

of the plan, and properly prepare for the allocation and use of such

funds for the next fiscal year. The plan shall be updated annually to

make appropriate modifications to such plan for the next fiscal year.

Prior to any such funds being expended, both the board and the

department must approve such plan, its goals and objectives as well as

the projected revenues and proposed allocations.

3. The authority shall furnish an annual real estate report detailing

all real estate holdings and detailed property information, including

but not limited to the tenants, important lease terms, rents, durations

of leases, as well as copies of each lease. Notwithstanding any other

provision of law to the contrary, the authority shall furnish all

required reports, audits, and reviews, including the annual real estate

report, to all parties enumerated in paragraph (a) of subdivision one of

section twenty-eight hundred of this chapter, to the department of

agriculture and markets, as well as publish such report on its website

within ninety days after the end of its fiscal year.