Section 924. Southeast industrial development agency

For the benefit of the
  town of Southeast and the inhabitants thereof, an industrial development
  agency,  to  be known as the SOUTHEAST 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  and  provided  that  the exercise of the powers by such agency
  with respect to the acquisition of real property by purchase,  shall  be
  limited  to  the  corporate  limits  of  the town of Southeast, 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.
  Notwithstanding the provisions of  subdivision  four  of  section  eight
  hundred  fifty-eight  of article eighteen-A of this chapter, such agency
  shall not have the power to acquire real property by condemnation.   Its
  members  shall  be  appointed  by  the  governing  body  of  the town of
  Southeast. 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.