N.Y. Public Housing Law § 628: New York city public housing preservation trust

§ 628. New York city public housing preservation trust. 1. There is

hereby established a public benefit corporation to be known as the "New

York city public housing preservation trust". The purpose of such trust

shall be the design, development, construction, reconstruction,

improvement, modernization, rehabilitation, repairing and operation of

housing facilities.

2. The trust shall be governed by and its powers shall be exercised by

a board of trustees consisting of nine members. The members shall be the

NYCHA CEO, the NYCHA CFO, the deputy mayor for housing and economic

development of the city of New York, or another deputy mayor designated

by the mayor if there is no deputy mayor with that designation, three

members appointed by the NYCHA CEO, including two housing facility

resident members and one member at large, provided that one such housing

facility resident member shall be selected from two candidates nominated

by the recognized citywide council of presidents, or an equivalent

successor body, and one such housing facility resident member shall be

selected from two candidates nominated by the resident advisory board,

or an equivalent successor body, and three members appointed by the

mayor, including two housing facility resident members, provided that

one such housing facility resident member shall be selected from two

candidates nominated by the recognized citywide council of presidents,

or an equivalent successor body, and one member who shall represent

employees of NYCHA, as applicable, and be selected from two candidates

nominated by organizations representing employees of NYCHA or the trust,

as applicable. The NYCHA CEO shall be the chair of the trust. The board

of trustees of the trust shall appoint the president of the trust. The

term of each member, other than members serving by virtue of their

positions, shall be three years, except at initial appointment when the

terms shall be staggered so that no more than two members shall have

terms that end in any given year, provided that the term of only one

member appointed by the mayor shall end in any given year.

3. Each appointed member shall continue in office until a successor

has been appointed and qualified unless otherwise removed as follows. A

member may be removed by the NYCHA CEO or mayor, whichever appointed

such member, upon the filing in the office of the trust and serving upon

the member the reasons therefor. Such document setting forth the reasons

shall be made available to the general public which shall include, but

not be limited to, publishing such reasons on the websites of the trust

and NYCHA. In the event a vacancy occurs in the office of an appointed

member, the vacancy shall be filled in the same manner as was the

original appointment of the member whose office became vacant.

4. Appointed members may engage in private employment, or in a

profession or business, unless otherwise prohibited by law, rule or

regulation, provided, however, that notwithstanding any applicable

provision of law, the members shall be subject to the limitations

contained in sections two thousand six hundred three, two thousand six

hundred four, two thousand six hundred five, and two thousand six

hundred six of the New York city charter. The trust shall be an agency

and such members shall be public servants for the purposes of such

sections. In addition, such members shall be subject to the provisions

of section one thousand one hundred sixteen of the New York city charter

and shall for the purposes of such section be considered officers of the

city. Further, such members, the president and certain critical

employees of the trust as designated by the board or the president,

shall be subject to the provisions of section 12-110 of the

administrative code of the city of New York pertaining to the filing of

annual disclosure reports with the city conflicts of interest board, and

for such purpose, the members of the board of trustees shall be deemed

to be compensated members of the trust.

5. The board shall provide for the holding of regular meetings, and

such special meetings, at the call of the chair of the trust, as may be

necessary. A majority of the whole number of members shall constitute a

quorum for the transaction of business. The powers of the board shall be

vested in and exercised by a majority of the whole number of the members

thereof. Any one or more members of the board may participate in a

meeting of the trust by means of videoconferencing consistent with

article seven of the public officers law.

6. Members of the board, other than members serving by virtue of their

positions, shall receive a stipend in the amount of two hundred fifty

dollars for every four hours of work performed for the trust, not to

exceed one thousand five hundred dollars per month. In addition, members

shall be reimbursed for the actual and necessary expenses incurred by

them in the performance of their official duties as members of the board

of trustees.

7. The board shall appoint a president of the trust and determine the

compensation of the president. The president, who shall not be a member

of the board, shall be the chief executive officer of the trust and

shall be responsible for the discharge of the executive and

administrative functions and powers of the trust, including the exercise

of any powers delegated by the board to the president. The president

shall serve at the pleasure of the board.

8. The trust and its corporate existence shall continue until

terminated by law, provided, however, that no such law shall take effect

so long as the trust shall have bonds, notes and other obligations

outstanding, unless adequate provision has been made for the payment

thereof. Upon the termination of the existence of the trust, all its

rights and properties shall pass to and be vested in NYCHA.

9. Notwithstanding any provision of law to the contrary, no officer or

employee of the state, or of any civil division thereof, or of any

public corporation, as defined in the general construction law,

including NYCHA, shall be deemed to have forfeited or shall forfeit such

person's office or employment or any benefits provided under the

retirement and social security law or under any public retirement system

maintained by the state or by the civil divisions thereof, or by any

such public corporation, by reason of such person's acceptance of

membership on the board of the trust or by virtue of such person being

an officer or employee of the trust.