Section 372-A. University-related economic development facilities

1.
  Notwithstanding subdivisions one through six and eight  through  ten  of
  section  three  hundred  seventy-six  of this article, the provisions of
  this section shall apply to the  fund  when  it  acts  pursuant  to  the
  authorization  under this section. Pursuant to the authorization in this
  section and approval by the trustees of the  university,  the  fund  may
  acquire,  design,  construct, reconstruct, rehabilitate, improve, lease,
  manage   and/or   operate   university-related   economic    development
  facilities.  University-related economic development facilities, as used
  in this chapter, shall mean facilities  for  research,  development  and
  commercial  enterprises  dealing  in products and/or services related to
  the mission or academic specialties of the campus associated  with  such
  facilities,  or  dealing  in  support  products  or  services  for  such
  enterprises which will have a significant economic  benefit.  Consistent
  with such authorization, the state university trustees are authorized to
  enter  into  contracts  or leases for lands and facilities authorized in
  subdivision two of this section. Such leases or contracts shall  be  for
  the  development,  construction, and operation of such facilities by the
  fund. Construction, acquisition, rehabilitation, improvement, facilities
  operation management, mortgaging  with  any  private  lender  (including
  other  security  or financing arrangements incidental or related thereto
  or customary in connection therewith, leasehold mortgaging or assignment
  of rents) leasing, subleasing of, providing services  for  or  otherwise
  assisting  or  granting  of easements, licenses or other arrangements in
  regard to such facilities and underlying land may be provided from  time
  to  time without public bidding or sale by such contracts or leases (and
  replacements, modifications, substitutions  and  renewals  thereof)  and
  upon such terms as the trustees may approve provided, however, that:
    a.  No  contract  or  lease  for real property shall provide for a fee
  simple conveyance, or be for a period of greater than thirty years; each
  such contract or lease shall be approved by the attorney general, as  to
  form, the director of the budget and the comptroller of the state of New
  York;
    b.  In  the event the real property which is the subject of such lease
  or contract shall cease to be used for the purposes authorized  by  this
  section  and  at  the expiration of such contract or lease in any event,
  such property and the improvements thereon shall  revert  to  the  state
  university  of  New  York,  and any such lease or contract shall be made
  subject to such conditions, and provide for such reverter;
    c. The authorization of any facilities or  projects  in  this  section
  shall  expire and be of no further force and effect, unless the approval
  of the trustees of the university  occurs  within  three  years  of  the
  effective date thereof;
    d.  Any  contracts or leases entered into by the trustees of the state
  university of New York pursuant to this section shall require the lessee
  or  contracting  not-for-profit   corporation   to   comply   with   the
  requirements  of article fifteen-A of the executive law. Any contract or
  lease for construction, rehabilitation, or other improvement  authorized
  by this section entered into by the trustees shall require the lessee or
  contractor  and/or  subcontractor  to  comply  with  the requirements of
  section two hundred twenty, two hundred thirty, two hundred  thirty-one,
  two  hundred  forty  and  two  hundred forty-one of the labor law, where
  applicable, as well as sections one hundred one and one hundred three of
  the general municipal law, where applicable;
    e. The benefits to the region, state, and university community by  the
  establishment  of  a high technology facility at the state university of
  New York shall be realized with no negative impact upon  the  employment
  status   of  state  university  of  New  York  employees  or  collective

  bargaining units that represent  such  employees  as  a  result  of  any
  contract or lease authorized by this section;
    f.  Any  agreement, contract or lease authorized by this section shall
  include an indemnity provision whereby the lessee or sublessee  promises
  to  indemnify,  hold  harmless,  and  defend  lessor against all claims,
  suits, actions, and liability, to all persons on  the  leased  premises,
  including   tenants,   tenants'   agents,  contractors,  subcontractors,
  employees, customers, guests, licensees, invitees, and  members  of  the
  public,  for  damage  to  any  such  person's  property, whether real or
  personal, or for personal  injuries  arising  out  of  tenants'  use  or
  occupation of the demises premises;
    g.  Any  such  lease, contract or agreement authorized by this section
  must clearly define  the  purpose  for  which  the  land  will  be  used
  consistent  with the mission of the state university of New York and the
  mission of the campus involved in such lease, contract or agreement; and
    h. The fund shall report annually to the state university of New York,
  the governor, the speaker of the assembly and the temporary president of
  the senate, on each of the facilities and projects  authorized  by  this
  section.
    2. Subsequent to the approval of the trustees of the state university,
  the  following  facilities  are specifically and expressly authorized by
  law and to the terms and conditions set forth herein:
    a. Pharmaceutical technology/manufacturing building and an  affiliated
  academic   incubator   at  state  university  of  New  York  college  at
  Farmingdale. The state university of New York is authorized to establish
  an account  to  receive  payments  from  leases  of  the  pharmaceutical
  technology/manufacturing  building.  Any  payments  deposited  into this
  account may be transferred to the fund for payments related  to  design,
  construction,  reconstruction,  rehabilitation  or  improvement  of  the
  affiliated academic incubator authorized in this paragraph.