Section 902-C. City of Mount Vernon industrial development agency

(a) For
  the purposes of this section "governing body" as used in  title  one  of
  article eighteen-A of this chapter shall mean the mayor of the city, and
  "city" shall mean the city of Mount Vernon.
    (b)  For  the  benefit of the city of Mount Vernon and the inhabitants
  thereof, an industrial development agency, to be known as  the  CITY  OF
  MOUNT  VERNON  INDUSTRIAL  DEVELOPMENT AGENCY, is hereby established for
  the accomplishment of any or all of the purposes specified in title  one
  of  article  eighteen-A  of  this  chapter.   It shall constitute a body
  corporate and politic, and be perpetual in duration.  It shall have  the
  powers  and  duties  now  or hereafter conferred by title one of article
  eighteen-A of this chapter upon industrial development agencies,  except
  that  the  agency's power of condemnation shall not be exercised without
  prior approval of the city council of the city, and  provided  that  the
  exercise of the powers by such agency with respect to the acquisition of
  real  property, whether by purchase, condemnation or otherwise, shall be
  limited to the corporate limits of the city of Mount  Vernon,  and  such
  agency  shall  take  into  consideration  the  local zoning and planning
  regulations as well as the regional and  local  comprehensive  land  use
  plans. It shall be organized in a manner prescribed by and be subject to
  the  provisions  of  title  one  of  article eighteen-A of this chapter,
  except that the members shall be appointed by the mayor of said city and
  shall serve at the pleasure of the mayor. The mayor shall designate  the
  first  chairman.  Except  as  otherwise  provided  in  this section, the
  agency, its members, officers  and  employees  and  its  operations  and
  activities  shall in all respects be governed by the provisions of title
  one of article eighteen-A of this chapter.
    (c) The city shall have the power to make, or contract to make  grants
  or  loans, including but not limited to grants or loans of money, to the
  agency in such amounts, upon such terms  and  conditions  and  for  such
  period  or periods of time as in the judgment of the city and the agency
  are necessary or appropriate  for  the  accomplishment  of  any  of  the
  purposes of the agency.