A. 9012 2
S 2. Short title. This act shall be known and may be cited as the
"Atlantic Yards governance act".
S 3. Article 8 of the public authorities law is amended by adding a
new title 5 to read as follows:
TITLE 5
ATLANTIC YARDS GOVERNANCE ACT
SECTION 1700. DEFINITIONS.
1701. CREATION OF THE ATLANTIC YARDS DEVELOPMENT TRUST.
1702. PURPOSES OF THE ATLANTIC YARDS DEVELOPMENT TRUST.
1703. POWERS OF THE ATLANTIC YARDS DEVELOPMENT TRUST.
1704. MONEYS OF THE ATLANTIC YARDS DEVELOPMENT TRUST.
1705. OTHER STATE LAWS AND AGENCIES.
1706. NOTICE OF TORT.
1707. TAX EXEMPTIONS.
1708. STAKEHOLDER COUNCIL.
S 1700. DEFINITIONS. AS USED IN THIS TITLE, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS, UNLESS THE CONTEXT CLEARLY REQUIRES OTHER-
WISE:
1. "BOARD" MEANS THE BOARD OF DIRECTORS OF THE ATLANTIC YARDS DEVELOP-
MENT TRUST.
2. "GENERAL PROJECT PLAN" MEANS THE "ATLANTIC YARDS LAND USE IMPROVE-
MENT AND CIVIC PROJECT GENERAL PROJECT PLAN" DATED JULY EIGHTEENTH, TWO
THOUSAND SIX, AND ANY SUCCESSOR PLAN OR STATEMENT OF FINDINGS CREATED
THEREAFTER CONSISTENT WITH THE STATE ENVIRONMENTAL QUALITY REVIEW ACT;
PROVIDED THAT THE GENERAL PROJECT PLAN SHALL BE CONSISTENT WITH THIS
TITLE.
3. "ATLANTIC YARDS" OR "THE PROJECT" MEANS THE AREA IN THE CITY OF NEW
YORK AND COUNTY OF KINGS ROUGHLY BOUNDED BY FLATBUSH AND FOURTH AVENUES
TO THE WEST, VANDERBILT AVENUE TO THE EAST, ATLANTIC AVENUE TO THE
NORTH, AND DEAN AND PACIFIC STREETS TO THE SOUTH AND INCLUDING THE
APPROXIMATELY NINE-ACRE BELOW-GRADE LONG ISLAND RAIL ROAD VANDERBILT
STORAGE YARD AND METROPOLITAN TRANSPORTATION AUTHORITY STORAGE YARD FOR
INACTIVE NEW YORK CITY TRANSIT AUTHORITY BUSES.
4. "ATLANTIC YARDS DEVELOPMENT TRUST" OR "TRUST" MEANS THE PUBLIC
BENEFIT CORPORATION ESTABLISHED PURSUANT TO SECTION SEVENTEEN HUNDRED
ONE OF THIS TITLE.
S 1701. CREATION OF THE ATLANTIC YARDS DEVELOPMENT TRUST. 1. THERE IS
HEREBY CREATED THE ATLANTIC YARDS DEVELOPMENT TRUST WHICH SHALL BE A
BODY CORPORATE AND POLITIC, CONSTITUTING A PUBLIC BENEFIT CORPORATION.
THE TRUST SHALL COME INTO EXISTENCE UPON THE THIRTIETH DAY FOLLOWING THE
APPOINTMENT OF NOT FEWER THAN EIGHT MEMBERS OF ITS BOARD AS HEREIN
PROVIDED, AND THE TRUST AND ITS CORPORATE EXISTENCE SHALL CONTINUE UNTIL
TERMINATED BY THE LEGISLATURE. THE TRUST SHALL HAVE THE RIGHTS, POWERS,
RESPONSIBILITIES AND DUTIES SET FORTH IN THIS TITLE, SUBJECT TO THE
LIMITATIONS SET FORTH HEREIN, AND IT SHALL REPLACE THE NEW YORK STATE
URBAN DEVELOPMENT CORPORATION, IN ITS AUTHORITY OVER THE PLANNING,
DESIGN, CONSTRUCTION, OPERATION AND MAINTENANCE OF THE PROJECT. UPON THE
COMING INTO EXISTENCE OF THE TRUST, THE TRUST SHALL SUCCEED TO ALL
CONTRACTS, LEASES, LICENSES AND OTHER LEGAL OBLIGATIONS RESPECTING THE
PROJECT TO WHICH ITS PREDECESSORS ARE PARTY AT OR AFTER THE EFFECTIVE
DATE OF THIS TITLE; PROVIDED THAT THE TRUST SHALL NOT ASSUME ANY DEBT OR
FINANCIAL OBLIGATION TO ANY PUBLIC BENEFIT CORPORATION OR GOVERNMENTAL
ENTITY.
2. THE MEMBERS OF THE BOARD OF THE ATLANTIC YARDS DEVELOPMENT TRUST
BOARD SHALL BE RESIDENTS OF THE CITY OF NEW YORK AND SHALL BE APPOINTED
AS FOLLOWS:
A. 9012 3
(A) EIGHT MEMBERS SHALL BE APPOINTED BY AND SERVE AT THE PLEASURE OF
THE GOVERNOR, AT LEAST ONE OF WHOM SHALL BE A REPRESENTATIVE OF A
NOT-FOR-PROFIT, NON-GOVERNMENTAL ENVIRONMENTAL OR CIVIC ORGANIZATION.
(B) TWO MEMBERS SHALL BE APPOINTED BY THE SPEAKER OF THE ASSEMBLY, IN
CONSULTATION WITH THE MEMBER OF THE ASSEMBLY THAT REPRESENTS THE
DISTRICT OR DISTRICTS IN WHICH THE PROJECT IS LOCATED.
(C) TWO MEMBERS SHALL BE APPOINTED BY THE TEMPORARY PRESIDENT OF THE
SENATE, IN CONSULTATION WITH THE SENATOR THAT REPRESENTS THE DISTRICT OR
DISTRICTS IN WHICH THE PROJECT IS LOCATED.
(D) TWO MEMBERS SHALL BE APPOINTED BY AND SERVE AT THE PLEASURE OF THE
MAYOR OF THE CITY OF NEW YORK.
(E) ONE MEMBER SHALL BE APPOINTED BY AND SERVE AT THE PLEASURE OF THE
BOROUGH PRESIDENT OF THE BOROUGH OF BROOKLYN, APPOINTED IN CONSULTATION
WITH BROOKLYN COMMUNITY BOARDS TWO, SIX AND EIGHT.
(F) ONE NON-VOTING MEMBER SHALL BE APPOINTED BY THE STAKEHOLDER COUN-
CIL AS PROVIDED IN SECTION SEVENTEEN HUNDRED EIGHT OF THIS TITLE.
(G) EACH APPOINTING AUTHORITY, WITH THE EXCEPTION OF THE BROOKLYN
BOROUGH PRESIDENT AND THE STAKEHOLDER COUNCIL, MAY APPOINT NO MORE THAN
HALF THEIR MEMBERS AS CITY OR STATE EMPLOYEES.
3. EACH MEMBER SHALL SERVE A TWO YEAR TERM COMMENCING ON JANUARY FIRST
IN ODD NUMBERED YEARS. TRUST MEMBERS SHALL BE ELIGIBLE TO BE REAP-
POINTED.
4. EACH MEMBER, EXCEPT FOR THE NON-VOTING MEMBER, OF THE BOARD SHALL
BE ENTITLED TO ONE VOTE ON ALL MATTERS VOTED ON BY THE BOARD. EIGHT
MEMBERS SHALL CONSTITUTE A QUORUM. ALL ACTIONS AUTHORIZED BY A VOTE OF
THE BOARD SHALL REQUIRE THE AFFIRMATIVE VOTE OF A QUORUM IN ORDER TO
PASS. THE CHAIR SHALL BE DESIGNATED BY THE GOVERNOR AND SERVE AS CHAIR
AT THE PLEASURE OF THE GOVERNOR, AND THE VICE-CHAIR SHALL BE DESIGNATED
BY THE MAYOR OF THE CITY OF NEW YORK AND SERVE AT THE PLEASURE OF THE
MAYOR. DESIGNATION AS CHAIR OR VICE-CHAIR SHALL BE FOR A TERM OF TWO
YEARS.
5. MEMBERS OF THE BOARD SHALL NOT BE COMPENSATED FOR THEIR SERVICES
BUT MAY BE REIMBURSED FOR THEIR NECESSARY AND ACTUAL EXPENSES INCURRED
IN CONNECTION WITH THE PERFORMANCE OF THEIR DUTIES. THE BOARD MAY DELE-
GATE TO ONE OR MORE OF ITS MEMBERS OR TO ITS OFFICERS, AGENTS OR EMPLOY-
EES SUCH POWERS AND DUTIES AS IT MAY DEEM PROPER.
6. IT SHALL NOT BE DEEMED A CONFLICT OF INTEREST FOR A PERSON TO
SIMULTANEOUSLY HOLD POSITIONS AS A MEMBER OF THE BOARD AND AS AN OFFICER
OF THE TRUST. NO PUBLIC OFFICER OR EMPLOYEE SHALL FORFEIT OR BE DEEMED
TO HAVE FORFEITED SUCH PUBLIC OFFICE OR EMPLOYMENT BY ACCEPTING MEMBER-
SHIP ON THE BOARD.
S 1702. PURPOSES OF THE ATLANTIC YARDS DEVELOPMENT TRUST. THE TRUST IS
HEREBY CREATED TO PERMIT THE FOLLOWING PURPOSES TO BE FULFILLED IN
ACCORDANCE WITH THIS TITLE:
1. TO PLAN, DESIGN, DEVELOP, CONSTRUCT, OPERATE AND MAINTAIN THE
PROJECT;
2. TO CREATE AFFORDABLE AND MARKET-RATE HOUSING, TO CREATE NEW PUBLIC
OPEN SPACE AND COMMERCIAL AND RETAIL DEVELOPMENT;
3. TO ENSURE THE PUBLIC IS FULLY INVOLVED AND ENGAGED IN THE GOVER-
NANCE OF THE PROJECT;
4. TO COOPERATE, AND TO COORDINATE MATTERS RELATING TO THE PROJECT,
WITH THE FEDERAL GOVERNMENT, THE STATE AND THE CITY OF NEW YORK AS WELL
AS WITH COMMUNITY, ENVIRONMENTAL, AND CIVIC GROUPS;
5. TO ACCEPT APPROPRIATIONS, SUBSIDIES AND GRANTS FROM FEDERAL, STATE
AND LOCAL GOVERNMENTS; AND
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6. TO RECEIVE RENTS, PAYMENTS IN LIEU OF TAXES, AND OTHER REVENUES
GENERATED WITHIN THE PROJECT, AND TO USE THE SAME SOLELY TO IMPROVE,
OPERATE AND MAINTAIN THE PROJECT.
S 1703. POWERS OF THE ATLANTIC YARDS DEVELOPMENT TRUST. 1. TO FULFILL
ITS PURPOSES UNDER THIS TITLE, THE TRUST SHALL HAVE THE FOLLOWING
POWERS, FUNCTIONS, DUTIES AND AUTHORITY SUBJECT TO THE LIMITATIONS SET
FORTH IN THIS TITLE:
(A) TO PLAN, DESIGN, DEVELOP, CONSTRUCT, OPERATE, AND MAINTAIN THE
PROJECT;
(B) TO IMPLEMENT THE GENERAL PROJECT PLAN FOR THE PROJECT;
(C) TO OVERSEE IMPLEMENTATION OF THE DESIGN GUIDELINES FOR THE
PROJECT;
(D) TO ESTABLISH A STAKEHOLDER COUNCIL AS PROVIDED IN SECTION SEVEN-
TEEN HUNDRED EIGHT OF THIS TITLE;
(E) TO APPROVE CHANGES TO THE GENERAL PROJECT PLAN IN CONSULTATION
WITH THE STAKEHOLDER COUNCIL;
(F) TO OVERSEE POLICIES TO MITIGATE ENVIRONMENTAL IMPACTS OF THE
PROJECT AND COORDINATE THE IMPLEMENTATION OF THESE POLICIES WITH THE
RELEVANT CITY AND STATE AGENCIES;
(G) WHEN NECESSARY, TO DEVELOP ADDITIONAL POLICY TO MITIGATE ANTIC-
IPATED ENVIRONMENTAL IMPACTS OF THE PROJECT;
(H) TO ADOPT RULES OF PROCEDURE FOR CONSULTATION WITH THE STAKEHOLDER
COUNCIL, ESTABLISHED PURSUANT TO SECTION SEVENTEEN HUNDRED EIGHT OF THIS
TITLE;
(I) TO PROVIDE FOR THE HEALTH, SAFETY AND WELFARE OF THE PUBLIC USING
FACILITIES UNDER ITS JURISDICTION;
(J) TO EXERCISE THE FOLLOWING GENERAL CORPORATE POWERS:
(I) TO MAKE AND ALTER BY-LAWS FOR ITS ORGANIZATION AND INTERNAL
MANAGEMENT;
(II) TO ADOPT, AMEND OR RESCIND SUCH RULES, REGULATIONS AND ORDERS AS
MAY BE NECESSARY OR CONVENIENT FOR THE PERFORMANCE OR EXERCISE OF THE
FUNCTIONS, POWERS AND DUTIES OF THE TRUST IN ACCORDANCE WITH THE
PROVISIONS OF THIS TITLE;
(III) TO ENTER INTO CONTRACTS, INCLUDING CUSTOMARY TRADE CREDITS IN
THE ORDINARY COURSE OF BUSINESS, WITH ANY PERSON AND DO ALL THINGS
NECESSARY OR CONVENIENT TO CARRY OUT THE FUNCTIONS, POWERS AND DUTIES OF
THE TRUST;
(IV) TO CONDUCT MEETINGS AND HEARINGS WITH RESPECT TO ANY MATTER UNDER
THE JURISDICTION AND CONTROL OF THE TRUST;
(V) TO BRING OR DEFEND SUCH ACTIONS, SUITS OR PROCEEDINGS AS MAY BE
NECESSARY OR PROPER TO PERFORM ANY OF THE POWERS, FUNCTIONS AND DUTIES
OF THE TRUST;
(VI) TO EXERCISE AND PERFORM SUCH OTHER FUNCTIONS, POWERS AND DUTIES
AS SHALL HAVE BEEN OR MAY BE FROM TIME TO TIME CONFERRED OR IMPOSED BY
OR PURSUANT TO LAW;
(VII) TO APPOINT SUCH OFFICERS AND EMPLOYEES AS IT MAY REQUIRE FOR THE
PERFORMANCE OF ITS DUTIES, AND TO FIX AND DETERMINE THEIR QUALIFICA-
TIONS, DUTIES, AND COMPENSATION AND TO RETAIN OR EMPLOY SUCH PERSONS AS
LANDSCAPE ARCHITECTS, ARCHITECTS, HISTORIANS, ECOLOGISTS, EDUCATORS,
ENGINEERS, COUNSEL, AUDITORS, AND PRIVATE CONSULTANTS ON A CONTRACT
BASIS OR OTHERWISE TO RENDER PROFESSIONAL OR TECHNICAL SERVICES AND
ADVICE;
(VIII) TO SUBMIT LEGAL MATTERS TO THE ATTORNEY GENERAL OF THE STATE
WHO MAY FURNISH ANY NECESSARY LEGAL SERVICES AND ADVICE REQUIRED TO
ASSIST THE TRUST IN ACCOMPLISHING ITS CORPORATE PURPOSES;
A. 9012 5
(IX) TO DESIGNATE THE DEPOSITORIES OF ITS MONEY AND THE PERSONS
AUTHORIZED TO SIGN CHECKS AND OTHER SUCH INSTRUMENTS ON ITS BEHALF;
(X) TO ESTABLISH AND RE-ESTABLISH ITS FISCAL YEAR; AND
(XI) TO PREPARE AND APPROVE AN ANNUAL BUDGET FOR ITS OPERATIONS;
(K) TO PROVIDE FOR MEANINGFUL PUBLIC NOTICE, PARTICIPATION, CONSULTA-
TION AND REVIEW IN THE PLANNING, DEVELOPMENT AND OPERATION OF THE
PROJECT, WHICH SHALL INCLUDE, BUT NOT LIMITED TO:
(I) CONSULTATION WITH THE STAKEHOLDER COUNCIL AND ELECTED OFFICIALS
REPRESENTING COMMUNITIES NEIGHBORING THE PROJECT; AND
(II) TIMELY AND REASONABLE NOTIFICATION TO APPROPRIATE NEWS MEDIA OF
EACH MEETING OF THE TRUST AND ANY PUBLIC HEARINGS REGARDING SIGNIFICANT
PLANS OR PROPOSED ACTIONS WITH RESPECT TO THE PROJECT;
(L) TO DEVELOP AND OVERSEE AN ANNUAL FINANCING PLAN THAT WILL COMBINE
CONTRIBUTIONS FROM THE STATE, THE CITY OF NEW YORK AND PRIVATE SOURCES
FOR THE PLANNING AND DEVELOPMENT OF THE PROJECT; AND
(M) TO LEND OR DONATE MONIES, WHETHER SECURED OR UNSECURED, TO ANY
SUBSIDIARY CORPORATION, AND TO PURCHASE, SELL OR PLEDGE THE SHARES,
BONDS OR OTHER OBLIGATIONS OR SECURITIES THEREOF, ON SUCH TERMS AND
CONDITIONS AS THE CORPORATION MAY DEEM ADVISABLE.
2. THE TRUST SHALL BE SUBJECT TO ARTICLE EIGHT OF THE ENVIRONMENTAL
CONSERVATION LAW. THE GENERAL PROJECT PLAN ADOPTED PRIOR TO THE COMING
INTO EXISTENCE OF THE TRUST SHALL CONSTITUTE THE GENERAL PROJECT PLAN
FOR THE PROJECT. HOWEVER, SHOULD THE TRUST DECIDE TO AMEND THE GENERAL
PROJECT PLAN, THEN THE TRUST SHALL CONTINUE THE PREPARATION OF AN ENVI-
RONMENTAL IMPACT STATEMENT IN ACCORDANCE WITH THE ONGOING STATE ENVIRON-
MENTAL QUALITY REVIEW PROCESSES BEGUN BY ITS PREDECESSORS AND SHALL ACT
AS LEAD AGENCY IN CONNECTION THEREWITH IN ORDER THAT THERE SHALL BE NO
INTERRUPTION OR IMPEDIMENT TO THAT PROCESS AS A RESULT OF THIS TITLE.
SUCH USE BY THE TRUST OF THE ENVIRONMENTAL IMPACT STATEMENT BEGUN BY THE
NEW YORK STATE URBAN DEVELOPMENT CORPORATION SHALL NOT BE DEEMED ILLEGAL
OR AN OBJECTION UNDER ARTICLE EIGHT OF THE ENVIRONMENTAL CONSERVATION
LAW. UNLESS THE CONTEXT CLEARLY REQUIRES OTHERWISE, ANY REFERENCE TO THE
URBAN DEVELOPMENT CORPORATION DOING BUSINESS AS THE EMPIRE STATE DEVEL-
OPMENT CORPORATION IN THE FINAL ENVIRONMENTAL IMPACT STATEMENT OR ANY
OTHER DOCUMENT THAT IS PART OF THE PROCESS OF DEVELOPING OR APPROVING
THE GENERAL PROJECT PLAN, OR IN THE GENERAL PROJECT PLAN ITSELF, SHALL
BE DEEMED TO REFER TO AND MAY BE AMENDED TO REFER TO THE ATLANTIC YARDS
DEVELOPMENT TRUST, AND SUCH REFERRAL AND AMENDMENT SHALL NOT BE DEEMED
ILLEGAL OR AN OBJECTION UNDER ARTICLE EIGHT OF THE ENVIRONMENTAL CONSER-
VATION LAW. THE PLAN RESULTING FROM SUCH ENVIRONMENTAL REVIEW PROCESS
SHALL BE CONSISTENT WITH THIS TITLE AND SHALL BE THE BASIS FOR THE
DESIGN AND DEVELOPMENT OF THE PROJECT AND BE KNOWN AS THE GENERAL
PROJECT PLAN.
3. (A) THE TRUST SHALL RECEIVE AND HAVE EXCLUSIVE TITLE TO ALL RENTS,
FEES, AND OTHER REVENUES REQUIRED TO BE TRANSFERRED TO IT UNDER PARA-
GRAPH (B) OF THIS SUBDIVISION AND ALSO TO ALL RENTS, FEES, AND OTHER
REVENUES PAID OR TO BE PAID TO IT PURSUANT TO ANY LEASE, CONCESSION
ARRANGEMENT, LICENSE OR OTHER AGREEMENT RELATING TO ANY PART OF THE
PROJECT, MADE BY IT OR ANY PREDECESSOR, AND ALL SUCH MONIES SHALL BE
USED SOLELY FOR CONSTRUCTING, IMPROVING, OPERATING AND MAINTAINING THE
PROJECT.
(B) ALL NET REVENUES PAID TO THE STATE OF NEW YORK OR ANY INSTRUMEN-
TALITY THEREOF, THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION, THE
CITY OF NEW YORK OR ANY INSTRUMENTALITY THEREOF, PURSUANT TO ANY LEASE,
CONCESSION AGREEMENT, LICENSE OR OTHER AGREEMENT RELATING TO ANY PART OF
A. 9012 6
THE PROJECT, AND ANY SUCH REVENUES HEREAFTER PAID TO AND IN THE
POSSESSION OF ANY OF THOSE ENTITIES.
4. THE ACCOUNTS, RECORDS, AND PERFORMANCE OF THE TRUST SHALL BE
SUBJECT TO ANNUAL AUDIT BY THE COMPTROLLERS OF THE STATE AND CITY OF NEW
YORK, IN ACCORDANCE WITH THE PROCEDURAL REQUIREMENTS GOVERNING AUDITS
UNDER THE LAWS OF SUCH JURISDICTIONS.
5. THE TRUST MAY ESTABLISH AND FINANCE STAFF OR CONSULTANT POSITIONS
TO SERVE AS LIAISONS TO THE TRUST FOR THE STAKEHOLDER COUNCIL.
6. IN THE CASE OF ANY PROPOSED SIGNIFICANT ACTION AFFECTING THE
PROJECT OR THE NEIGHBORING COMMUNITY, INCLUDING THE ADOPTION OF, AND ANY
AMENDMENT TO, THE GENERAL PROJECT PLAN OR THE ANNUAL FINANCING PLAN, THE
TRUST SHALL:
(A) HOLD A PUBLIC HEARING ON NOT LESS THAN THIRTY DAYS' ADVANCE PUBLIC
NOTICE;
(B) SOLICIT AND CONSIDER THE VIEWS OF THE COMMUNITY STAKEHOLDER COUN-
CIL, THE PLANNING COMMISSION OF THE CITY OF NEW YORK, ELECTED OFFICIALS
REPRESENTING COMMUNITIES NEIGHBORING THE PROJECT, ALLOWING NOT LESS THAN
SIXTY DAYS FOLLOWING THE NOTICE OF THE PROPOSED ACTION FOR THE
SUBMISSION OF SUCH VIEWS;
(C) PUBLISH NOTICE OF THE HEARING AND PROPOSED ACTION IN THE CITY
RECORD AND STATE REGISTER;
(D) MEET WITH REPRESENTATIVES OF THE STAKEHOLDER COUNCIL NOT LESS THAN
TWENTY DAYS FOLLOWING THE END OF THE PUBLIC COMMENT PERIOD; AND
(E) PREPARE A FINDINGS STATEMENT SUMMARIZING PUBLIC COMMENT AND VIEWS
OF THE STAKEHOLDER COUNCIL AND OUTLINE HOW THE PROPOSED ACTION ADDRESSES
IDENTIFIED CONCERNS.
7. NO LATER THAN FEBRUARY FIRST OF EACH YEAR FOLLOWING THE EFFECTIVE
DATE OF THIS TITLE AND WITHIN SIXTY DAYS AFTER THE LATER OF THE EFFEC-
TIVE DATE OF THIS TITLE OR THE ADOPTION OF THE GENERAL PROJECT PLAN OR
ANY AMENDMENT, THE TRUST SHALL DELIVER TO THE GOVERNOR, THE SPEAKER OF
THE ASSEMBLY, THE TEMPORARY PRESIDENT OF THE SENATE, THE STATE COMP-
TROLLER, THE MAYOR OF THE CITY OF NEW YORK, THE SPEAKER OF THE CITY
COUNCIL OF THE CITY OF NEW YORK, THE COMPTROLLER OF THE CITY OF NEW YORK
AND THE CHAIRS OF COMMUNITY BOARDS TWO, SIX, AND EIGHT WITHIN THE
BOROUGH OF BROOKLYN, A CURRENT COPY OF THE ANNUAL FINANCING PLAN AND ANY
AMENDMENTS TO THE GENERAL PROJECT PLAN FOR THE PROJECT AND THE TRUST
SHALL, WITHIN THE SAME TIME, MAKE SUCH PLAN AND A CURRENT COPY OF ITS
REGULATIONS AVAILABLE FOR PUBLIC INSPECTION DURING BUSINESS HOURS AT THE
OFFICES OF THE TRUST WITHIN THE CITY OF NEW YORK.
8. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY THE ATLANTIC
YARDS DEVELOPMENT TRUST SHALL ESTABLISH THE ATLANTIC YARDS PURPOSES
ACCOUNT AND OTHER SUB-ACCOUNTS WHICH MAY BE NECESSARY OR CONVENIENT FOR
THE AUTHORIZED PURPOSES OF THE TRUST WITHIN THE TREASURY OF THE TRUST
WHICH SHALL REFLECT AND CONSIST OF ALL FUNDS MADE AVAILABLE TO THE TRUST
AT ANY TIME, FROM ANY SOURCES, FOR ITS AUTHORIZED PURPOSES. SUCH ACCOUNT
AND SUB-ACCOUNTS SHALL BE INCLUDED IN DETAILED QUARTERLY REPORTS OF THE
TRUST COMMENCING WITH THE QUARTERLY REPORT FOR THE PERIOD IMMEDIATELY
PRECEDING JANUARY FIRST, TWO THOUSAND TEN, WHICH SET FORTH THE STATUS OF
THE ACCOUNT AND SUB-ACCOUNTS, THE AMOUNT IN SUCH ACCOUNT AT THE BEGIN-
NING OF SUCH QUARTER (FROM AND INCLUDING THE ENTIRE PERIOD FOR THE FIRST
DAY OF THE OPERATIVE CALENDAR YEAR), THE PAYMENTS OF SUCH ACCOUNT, AND
THE AMOUNT IN SUCH ACCOUNT AT THE CLOSE OF SUCH QUARTER (TO AND INCLUD-
ING THE ENTIRE PERIOD OF THE LAST DAY OF THE OPERATIVE CALENDAR YEAR).
SUCH DETAILED QUARTERLY REPORTS SHALL BE PREPARED AND SUBMITTED WITHIN
THIRTY DAYS OF THE CLOSE OF THE FISCAL QUARTER OF THE TRUST, TO THE
GOVERNOR, THE SPEAKER OF THE ASSEMBLY, THE TEMPORARY PRESIDENT OF THE
A. 9012 7
SENATE, THE STATE COMPTROLLER, THE CHAIR OF THE SENATE FINANCE COMMIT-
TEE, THE CHAIR OF THE ASSEMBLY WAYS AND MEANS COMMITTEE, THE MAYOR OF
THE CITY OF NEW YORK, THE SPEAKER OF THE CITY COUNCIL OF THE CITY OF NEW
YORK, THE COMPTROLLER OF THE CITY OF NEW YORK, AND THE CHAIRS OF COMMU-
NITY BOARDS TWO, SIX AND EIGHT WITHIN THE BOROUGH OF BROOKLYN.
S 1704. MONEYS OF THE ATLANTIC YARDS DEVELOPMENT TRUST. ALL MONEYS OF
THE TRUST FROM WHATEVER SOURCE DERIVED SHALL BE PAID TO THE TREASURER OF
THE TRUST AND SHALL BE DEPOSITED FORTHWITH IN ONE OR MORE BANKS OR TRUST
COMPANIES IN THE STATE, AS DESIGNATED BY THE TRUST. THE MONEYS IN SUCH
ACCOUNTS SHALL BE PAID OUT BY THE TREASURER OF THE TRUST UPON REQUISI-
TION BY THE CHAIRPERSON OF THE BOARD OR OF SUCH OFFICER OR OFFICERS AS
THE BOARD MAY AUTHORIZE. ANY MONEYS OF THE TRUST NOT REQUIRED FOR IMME-
DIATE USE OR DISBURSEMENT MAY, AT THE DISCRETION OF THE TRUST, BE
INVESTED IN THOSE OBLIGATIONS SPECIFIED PURSUANT TO SECTION
NINETY-EIGHT-A OF THE STATE FINANCE LAW.
S 1705. OTHER STATE LAWS AND AGENCIES. 1. THE TRUST SHALL BE SUBJECT
TO ARTICLES SIX AND SEVEN OF THE PUBLIC OFFICERS LAW.
2. WHENEVER IN THE OPINION OF THE TRUST IT WOULD BE IN THE PUBLIC
INTEREST, IT MAY, AFTER APPROVAL OF THE DIRECTOR OF THE BUDGET OR THE
DIRECTOR OF THE OFFICE OF MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK
AS THE CASE MAY BE, REQUEST THE TEMPORARY ASSIGNMENT AND TRANSFER OF
CERTAIN EMPLOYEES OF ANY BOARD, COMMISSION, AGENCY OR DEPARTMENT OF THE
STATE OR THE CITY OF NEW YORK, AND SUCH BOARD, COMMISSION, AGENCY OR
DEPARTMENT, IF IN THE OPINION OF THE TRANSFERRING AGENCY SUCH TRANSFER
WILL NOT INTERFERE WITH THE PERFORMANCE OF ITS DUTIES AND FUNCTIONS, MAY
MAKE SUCH ASSIGNMENT AND TRANSFER OR EXTENSION THEREOF WHICH SHALL NOT
IN ANY WAY AFFECT THE CIVIL SERVICE STATUS, CONTINUITY OF SERVICE,
RETIREMENT PLAN STATUS, RIGHT TO COMPENSATION, GRADE OR COMPENSATION OR
THE RIGHTS OR PRIVILEGES OF ANY EMPLOYEE SO TRANSFERRED.
3. FOR PURPOSES OF SECTIONS TWO HUNDRED TWENTY AND TWO HUNDRED THIRTY
OF THE LABOR LAW, THE COMMISSIONER OF LABOR AND THE COMPTROLLER OF THE
CITY OF NEW YORK SHALL BOTH BE DEEMED THE FISCAL OFFICER FOR THE TRUST.
4. THE TRUST SHALL BE SUBJECT TO ARTICLE NINE OF THIS CHAPTER, AND ITS
CONTRACTS SHALL BE SUBJECT TO SECTION ONE HUNDRED THIRTY-FIVE OF THE
STATE FINANCE LAW AND THE PROVISIONS OF STATE LAW PERTAINING TO PREVAIL-
ING WAGES, LABOR STANDARDS AND WORKING HOURS. THE TRUST SHALL BE DEEMED
A "STATE AGENCY" FOR PURPOSES OF ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW
AND ITS CONTRACTS FOR PROCUREMENT, DESIGN, CONSTRUCTION, SERVICES AND
MATERIALS SHALL BE DEEMED STATE CONTRACTS WITHIN THE MEANING OF THAT
TERM AS SET FORTH IN SUCH ARTICLE FIFTEEN-A.
S 1706. NOTICE OF TORT. IN AN ACTION AGAINST THE TRUST FOUNDED UPON
TORT:
1. A NOTICE OF CLAIM SHALL BE REQUIRED AS A CONDITION PRECEDENT TO THE
COMMENCEMENT OF AN ACTION OR SPECIAL PROCEEDING AGAINST THE TRUST OR ANY
OFFICER, APPOINTEE OR EMPLOYEE THEREOF, AND THE PROVISIONS OF SECTION
FIFTY-E OF THE GENERAL MUNICIPAL LAW SHALL GOVERN THE GIVING OF SUCH
NOTICE; AND
2. THE COMPLAINT SHALL CONTAIN AN ALLEGATION THAT AT LEAST THIRTY DAYS
HAVE ELAPSED SINCE THE DEMAND, CLAIM OR CLAIMS UPON WHICH THE ACTION IS
FOUNDED WERE PRESENTED TO A MEMBER OF THE TRUST'S BOARD OF DIRECTORS AND
TO THE TRUST'S SECRETARY AND THAT THE TRUST HAS NEGLECTED OR REFUSED TO
MAKE AN ADJUSTMENT OR PAYMENT THEREOF FOR THIRTY DAYS AFTER SUCH
PRESENTMENT.
NO SUCH ACTION SHALL BE COMMENCED MORE THAN ONE YEAR AFTER THE CAUSE
OF ACTION THEREFOR SHALL HAVE ACCRUED, EXCEPT AN ACTION AGAINST THE
TRUST FOR WRONGFUL DEATH WHICH IS COMMENCED IN ACCORDANCE WITH THE
A. 9012 8
NOTICE OF CLAIM AND TIME LIMITATION PROVISIONS OF TITLE ELEVEN OF ARTI-
CLE NINE OF THIS CHAPTER.
S 1707. TAX EXEMPTIONS. IT IS HEREBY DETERMINED THAT THE CREATION OF
THE TRUST AND THE CARRYING OUT OF ITS CORPORATE PURPOSES IS IN ALL
RESPECTS FOR THE BENEFIT OF THE PEOPLE OF THE STATE AND IS A PUBLIC
PURPOSE, AND THE TRUST SHALL BE REGARDED AS PERFORMING A GOVERNMENTAL
FUNCTION IN THE EXERCISE OF THE POWERS CONFERRED UPON IT BY THIS TITLE.
IN FURTHERANCE OF THE SAME AND NOTWITHSTANDING ANY OTHER PROVISION OF
ANY OTHER LAW TO THE CONTRARY:
1. THE INCOME, MONEYS, OPERATIONS AND PROPERTIES OF THE TRUST SHALL BE
EXEMPT FROM TAXATION, INCLUDING WITHOUT LIMITATION ANY AND ALL STATE AND
LOCAL INCOME, FRANCHISE, TRANSFER, RECORDING, REAL PROPERTY AND SALES
TAXATION AND ANY ASSESSMENTS OF PAYMENTS IN LIEU OF TAXES.
2. ANY REAL PROPERTY TAXES OR PAYMENTS IN LIEU OF TAXES PAYABLE BY ANY
ENTERPRISE OPERATING WITHIN THE PROJECT TO THE CITY OF NEW YORK SHALL BE
PAID TO THE TRUST FOLLOWING THE COMING INTO EXISTENCE OF THE TRUST AND
THE CITY OF NEW YORK SHALL PROMPTLY REMIT ANY SUCH PAYMENTS RECEIVED
AFTER SUCH TIME TO THE TRUST. ALL CONTRIBUTIONS OF PERSONAL PROPERTY
MADE TO THE TRUST WHETHER BY GIFT, DEVISE OR BEQUEST SHALL QUALIFY AS
DEDUCTIONS IN COMPUTING THE NET TAXABLE INCOME OF THE DONOR FOR THE
PURPOSES OF ANY INCOME TAX IMPOSED BY THE STATE OR ANY POLITICAL SUBDI-
VISION THEREOF.
S 1708. STAKEHOLDER COUNCIL. 1. THERE IS HEREBY CREATED THE "ATLANTIC
YARDS STAKEHOLDER COUNCIL". ALL MEMBERS OF THE STAKEHOLDER COUNCIL SHALL
RESIDE IN THE BOROUGH OF BROOKLYN, AND SHALL BE REPRESENTATIVES OF LOCAL
COMMUNITY, PARK, ENVIRONMENTAL, CIVIC, LABOR AND BUSINESS ORGANIZATIONS.
2. UPON THE COMING INTO EXISTENCE OF THE ATLANTIC YARDS DEVELOPMENT
TRUST, MEMBERS OF THE STAKEHOLDER COUNCIL SHALL BE APPOINTED IN THE
FOLLOWING MANNER:
(A) TWO MEMBERS SHALL BE APPOINTED BY EACH OF THE MEMBERS OF THE
ASSEMBLY REPRESENTING THE DISTRICT OR DISTRICTS IN WHICH THE PROJECT IS
LOCATED; TWO MEMBERS SHALL BE APPOINTED BY EACH OF THE SENATORS REPRES-
ENTING THE DISTRICT OR DISTRICTS IN WHICH THE PROJECT IS LOCATED; TWO
MEMBERS SHALL BE APPOINTED BY THE CITY COUNCIL MEMBER REPRESENTING THE
DISTRICTS IN WHICH THE PROJECT IS LOCATED; ONE MEMBER EACH SHALL BE
APPOINTED BY BROOKLYN COMMUNITY BOARDS TWO, SIX AND EIGHT RESPECTIVELY;
AND TWO MEMBERS SHALL BE APPOINTED BY THE BROOKLYN BOROUGH PRESIDENT.
EACH OF THE STAKEHOLDER COUNCIL MEMBERS SHALL SERVE AT THE PLEASURE OF
THE APPOINTING OFFICIAL OR BODY AND SHALL SERVE FOR A TERM OF TWO YEARS.
(B) ALL ELECTED OFFICIALS REPRESENTING DISTRICTS BORDERING OR CONTAIN-
ING THE PROJECT SHALL SERVE ON THE STAKEHOLDER COUNCIL ON AN "EX-OFFI-
CIO" BASIS.
3. THE STAKEHOLDER COUNCIL SHALL MAKE AND ALTER BY-LAWS FOR ITS ORGAN-
IZATION AND INTERNAL MANAGEMENT.
4. THE STAKEHOLDER COUNCIL MEMBERS SHALL ELECT A CHAIR BASED ON A
MAJORITY VOTE.
5. THE STAKEHOLDER COUNCIL MAY HOLD PUBLIC MEETINGS AND MAY ADVISE AND
MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS OF THE TRUST ON ALL
MATTERS REGARDING THE PLANNING, DESIGN, CONSTRUCTION AND OPERATION OF
THE PROJECT.
6. THE STAKEHOLDER COUNCIL SHALL APPOINT ONE REPRESENTATIVE TO THE
TRUST.
7. THE TRUST SHALL PROVIDE THE STAKEHOLDER COUNCIL WITH SUCH STAFF
SUPPORT AS THE TRUST DETERMINES IS REQUIRED FOR THE PERFORMANCE OF THE
STAKEHOLDER COUNCIL'S DUTIES.
A. 9012 9
8. MEMBERS OF THE STAKEHOLDER COUNCIL SHALL SERVE WITHOUT COMPEN-
SATION.
S 4. Severability. If any clause, sentence, paragraph, subdivision,
section, part or title of this act shall be adjudged by a court of
competent jurisdiction to be invalid, such judgment shall not affect,
impair or invalidate the remainder thereof, but shall be confined in its
operation to the clause, sentence, paragraph, subdivision, section, part
or title of this act directly involved in the controversy in which such
judgment shall have been rendered.
S 5. This act shall take effect immediately.