Section 2633. Purposes and powers of the commission

The purposes of the
  commission shall  be  to  undertake  the  necessary  administrative  and
  development  activities  in  furtherance  of the management plan; and to
  carry  out  the  aforesaid  purposes,  the  commission  shall  have  the
  following powers:
    1. To sue and be sued;
    2. To have a seal and alter the same at pleasure;
    3. To acquire, hold and dispose of personal property for its corporate
  purposes;
    4.  To  acquire  by  purchase,  grant,  lease,  gift, condemnation, or
  otherwise and to use, real  property  or  rights  or  easements  therein
  necessary  for  its  corporate  purposes  subject  to  the local zoning,
  planning and historic preservation regulations as well as  regional  and
  local  comprehensive  land  use  plans,  and  to sell, convey, mortgage,
  lease, pledge, exchange or otherwise dispose of  any  such  property  in
  such manner as the commission shall determine;
    5.  To  make  by-laws for the management and regulation of its affairs
  and, subject to agreements with its bondholders, for the  regulation  of
  the use of a project or projects;
    6.  With  the  consent  of  the  state or municipality, to use agents,
  employees and facilities of the state or municipality;
    7. To appoint officers,  agents  and  employees,  to  prescribe  their
  qualifications  and to fix their compensation and to pay the same out of
  funds of the commission;
    8. To make contracts  and  leases,  and  to  execute  all  instruments
  necessary  or  convenient  to  or  with any person, firm, partnership or
  corporation, either public or private;
    9. To acquire, construct, reconstruct, lease, improve, maintain, equip
  or furnish one or more projects;
    10. To administer a preservation revolving fund,  including  provision
  for  grants  and loans therefrom with funds for such purpose from state,
  municipal, and/or private  sources  for  the  preservation  of  historic
  properties  to  private  property  owners  for  preservation projects in
  furtherance of the  public  interest  in  preservation  as  declared  in
  section 14.01 of the parks, recreation and historic preservation law;
    11.  To  accept gifts, grants, loans, or contributions from, and enter
  into contracts or other transactions with, the  United  States  and  the
  state  or any commission of either of them, any municipality, any public
  or private corporation or any other legal entity, and to  use  any  such
  gifts, grants, loans or contributions for any of its corporate purposes;
    12. To grant options to renew any lease with respect to any project or
  projects  and  to  grant options to buy any project at such price as the
  commission may deem desirable;
    13. To designate the depositories of its money;
    13-a. To make amendments to  the  Hudson-Mohawk  urban  cultural  park
  management  plan,  in  lieu of the appropriate local legislative bodies,
  subject to the approval of the commissioner  of  parks,  recreation  and
  historic preservation pursuant to the provisions of section 35.05 of the
  parks, recreation and historic preservation law;
    14. To establish and re-establish its fiscal year; and
    15. To do all things necessary or convenient to carry out its purposes
  and exercise the powers expressly given in this title.