Section 1804. General powers and duties of the authority

Subject to the
  other provisions of this title and the provisions of any  contract  with
  bondholders  or  noteholders,  the  authority  shall  have the following
  powers in  addition  to  the  powers  specifically  conferred  upon  the
  authority elsewhere in this title:
    1. To sue and be sued;
    2. To have a seal and alter the same at pleasure;
    3.  To  make  and  alter  by-laws  for  its  organization and internal
  management;
    4. To make  rules  and  regulations  governing  the  exercise  of  its
  corporate  powers  and  the  fulfillment of its corporate purposes under
  this title,  which  rules  and  regulations  shall  be  filed  with  the
  department of state in the manner provided by section one hundred two of
  the  executive  law  and  to maintain its system of internal controls in
  conformity  with  the  relevant  standards  specified  by  authoritative
  national standard setting bodies;
    5.  To  make  loans  and  loan  guaranties secured by loan agreements,
  mortgages, contracts and all other instruments necessary  or  convenient
  for  the  exercise  of  its  corporate powers and the fulfillment of its
  corporate purposes under this title; and to require the inclusion in any
  lease or other agreement in respect of a project (a) such provisions  as
  to  the  use  of  the  project  as  the  authority may deem necessary or
  desirable for the fulfillment of its corporate  purposes  and  (b)  such
  provisions  as  to  the  reporting to it by the parties to such lease or
  other agreement of such information as it deems necessary to monitor (i)
  compliance by such parties with the provisions of this  title  and  with
  the  provisions  of  any  rules and regulations adopted pursuant to this
  title and (ii) the progress of the project occupant or of  the  business
  enterprise  described  in  section eighteen hundred twenty-seven of this
  title in achieving the representations made in the application submitted
  pursuant to section eighteen hundred twenty-four of this title;
    6. In connection with loans, loan guarantees, or any  applications  or
  commitments  therefor,  to make and collect such fees and charges as the
  authority shall determine to be reasonable;
    7. To purchase, receive, lease or otherwise acquire, and hold  in  the
  name  of the state or otherwise, or contract to acquire from any person,
  firm, corporation, municipality, federal  or  state  agency,  by  grant,
  purchase,  or otherwise, and to sell, convey, mortgage, lease, pledge or
  otherwise dispose of, upon such terms and conditions  as  the  authority
  may  deem  advisable,  real  and  personal  property, together with such
  rights and privileges as may be incidental and appurtenant  thereto  and
  to the use thereof, including but not restricted to any real or personal
  property acquired by the authority from time to time upon foreclosure of
  any  mortgage  or  in the satisfaction of debts or in the enforcement of
  obligations; provided, however, that the terms  and  conditions  of  any
  sale  or  other  disposition by the authority of property conveyed to it
  pursuant to section eighteen hundred thirty-a of  this  title  including
  the  consideration  involved,  shall  be  subject to the approval of the
  director of the budget, prior to such sale or other disposition;
    8. To sell at public or private sale, or pledge or  assign,  any  loan
  made  by  the  authority and any mortgage or other obligation securing a
  loan made by the authority;
    9. To foreclose on any real or personal property in respect  of  which
  it has made a loan or issued a loan guarantee or commence or join in any
  action  or  proceeding to protect or enforce any right conferred upon it
  by law or by contract and to bid for and purchase such property  at  any
  forecolsure  or  at  any other sale or acquire or take possession of any
  such property; and in such event the authority  may  operate,  maintain,

  administer, pay the principal of and interest on any obligation incurred
  in  connection  with  such  property,  and  otherwise  deal  with,  such
  property, in such manner as may be necessary or desirable to protect the
  interest  of the authority therein; and further with regard to loans and
  loan guarantees made by the  authority,  it  shall  have  the  right  to
  require  at  the  time of the making of the loan or issuance of the loan
  guarantee, or at any time thereafter, in a form acceptable to it, a deed
  to all rights and interest  in  the  real  or  personal  property  as  a
  security   interest,  such  deed  to  be  termed  a  "deed  in  lieu  of
  foreclosure", and shall be empowered hereby to record such deed  upon  a
  default in the payment or terms of any loan made by or guaranteed by the
  authority,  and  to  thereby transfer to the authority by such recording
  both title and all rights of ownership in such  property  in  accordance
  with section eighteen hundred four-a of this article;
    10.  To  enter  into agreements to pay annual sums in lieu of taxes to
  any municipality or taxing district of the state in respect of any  real
  property   which   is  owned  by  the  authority  and  located  in  such
  municipality or taxing district, provided, however, that the  amount  so
  paid  for  any year upon any such property shall not exceed the sum last
  paid as taxes on such property to such municipality or  taxing  district
  prior to the time of its acquisition by the authority;
    11.  To procure insurance against any loss in connection with loans or
  with real and personal property or other assets of the authority of  any
  nature  whatsoever  in such amounts, and from such insurers, as it deems
  desirable;
    12. To consent to the modification of  the  time  of  payment  of  any
  installment  of  principal or interest, the rate of interest (within the
  limits prescribed by sections  eighteen  hundred  sixteen  and  eighteen
  hundred  twenty-one), the security, or any other terms of any loan, loan
  guarantee, loan commitment, contract or agreement of any kind  to  which
  the  authority is a party whenever it deems it necessary or desirable in
  the fulfillment of the purposes of this title;
    13. To encourage the organization of  local  development  corporations
  and  to  cooperate  with such corporations in the formation of plans for
  improving employment opportunities within their areas of operation;
    13-a. To develop and  annually  update  a  five  year  strategic  plan
  setting  forth the goals and objectives of the authority for each of the
  next five years and annual operational  targets  that  are  designed  to
  ensure  the  efficient and effective use of the authority's resources in
  meeting such goals  and  objectives.  Such  strategic  plan  shall  also
  include,  but  not  be  limited  to,  information as to the areas of the
  state, if any, and the  categories  of  project  occupants  or  business
  enterprises  as  described  in  section eighteen hundred twenty-seven of
  this title, if any, where, and in regard  to  which,  it  will  seek  to
  increase  its lending activity, and information as to the steps which it
  plans on taking to so direct its lending  activity.  In  developing  and
  updating  such  strategic  plan  the  authority  shall  utilize any area
  employment opportunity improvement plans formulated in  accordance  with
  subdivision thirteen of this section and such other information which it
  deems  appropriate.  Such categories shall include but not be limited to
  minority and  women-owned  businesses;  firms  located  in  economically
  distressed  rural  and  urban  communities;  firms  employing  displaced
  workers or economically disadvantaged individuals,  or  participants  in
  job  training  programs  for  economically  disadvantaged individuals or
  displaced workers; or firms, including, but not limited to,  cooperative
  corporations, involved in acquiring existing businesses that the current
  owners have proposed closing or have closed;

    13-b.  To  adopt  and, as necessary, revise criteria and methods to be
  used  by  the  authority  and  by  local  development  corporations   in
  evaluating  loan  applications  in  accordance  with  the  provisions of
  section eighteen hundred twenty-six of this title and  with  such  other
  standards and procedures which it deems necessary and appropriate.
    13-c.  To  adopt  and,  as  necessary,  revise  criteria to be used in
  determining the portion of the cost of individual projects which  should
  be  financed  by  the authority. Such criteria shall encourage different
  levels or degrees of financial assistance by the  authority.  Copies  of
  such  criteria  and  methods  shall be provided to all local development
  corporations;
    13-d. To require that any  new  employment  opportunities  created  in
  connection with industrial or commercial projects financed through loans
  or  loan guarantees from the authority shall be listed with the New York
  state  department  of  labor  job  service   division   and   with   the
  administrative  entity  of the service delivery area created pursuant to
  the federal job training partnership act  (P.L.  97-300)  in  which  the
  project  is  located  and  shall  first  consider  for  such  employment
  opportunities persons eligible to participate in  federal  job  training
  partnership  act  programs  who  shall be referred to such firms by such
  administrative entities or by the job service division of the department
  of labor; provided, however, that  nothing  contained  herein  shall  be
  construed  to  require project occupants or business entities as defined
  in section eighteen hundred twenty-seven of this title, to  violate  any
  existing  collective  bargaining agreement with respect to the hiring of
  new employees. Such listing shall be in a manner and form prescribed  by
  the  authority  in  consultation  with the commissioner of labor and the
  commissioner of economic development.
    13-e. To implement, on behalf of any local development corporation  so
  requesting,   the  responsibilities  assigned  to  such  corporation  by
  subdivision four of section eighteen hundred twenty-five of this title.
    14. To cooperate and act in conjunction with any organization,  public
  or  private,  or federal or state agency the objects of which within any
  area of the state are similar to the purposes of the authority;
    15. To accept gifts, grants or loans from, and enter into contracts or
  other transactions with, any federal or state agency, any  municipality,
  any private organization or any other source;
    16.  To  engage  the  services  of  bond counsel, accountants or other
  private consultants on a contract basis for rendering  professional  and
  technical assistance and advice;
    17.  To  procure  insurance  to  secure  the  payment of principal and
  interest on any bonds, notes or other obligations of the authority;
    18. To do any and all things necessary or convenient to (a) carry  out
  its  corporate  purposes,  (b)  exercise the powers given and granted in
  this title, and (c) further the goals and  objectives  and  achieve  the
  operational  targets set forth in the strategic plan adopted pursuant to
  subdivision thirteen of this section.