S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4785
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 3, 2017
                                ___________
 
 Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
   tee on Corporations, Authorities and Commissions
 
 AN  ACT  to amend the public housing law and the public authorities law,
   in relation to the New York city housing authority
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  opening paragraph of subdivision 4 of section 402 of
 the public housing law is designated paragraph a  and  three  new  para-
 graphs b, c and d are added to read as follows:
   B.  THE CHAIRMAN AND THE OTHER MEMBERS OF THE AUTHORITY, INCLUDING THE
 ADDITIONAL TENANT MEMBER, SHALL: (1) EXERCISE DIRECT  OVERSIGHT  OF  THE
 AUTHORITY'S  CHIEF EXECUTIVE OFFICER OR GENERAL MANAGER AND OTHER MANAG-
 ERS OR SUPERVISORS IN  THE  EFFECTIVE  AND  ETHICAL  MANAGEMENT  OF  THE
 AUTHORITY;  (2)  UNDERSTAND,  REVIEW  AND  MONITOR THE IMPLEMENTATION OF
 FUNDAMENTAL FINANCIAL AND MANAGEMENT CONTROLS AND OPERATIONAL  DECISIONS
 OF  THE AUTHORITY; (3) ADOPT A CODE OF ETHICS FOR OFFICERS AND EMPLOYEES
 OF THE AUTHORITY CONSISTENT WITH SECTION EIGHT HUNDRED SIX OF THE GENER-
 AL MUNICIPAL LAW; (4) PERFORM EACH OF THEIR  DUTIES  AS  BOARD  MEMBERS,
 INCLUDING  BUT  NOT  LIMITED  TO  THOSE IMPOSED BY THIS SECTION, IN GOOD
 FAITH AND WITH THAT DEGREE OF DILIGENCE, CARE AND SKILL WHICH  AN  ORDI-
 NARILY  PRUDENT  PERSON IN LIKE POSITION WOULD USE UNDER SIMILAR CIRCUM-
 STANCES, AND MAY TAKE INTO CONSIDERATION THE VIEWS AND POLICIES  OF  ANY
 ELECTED OFFICIAL OR BODY, OR OTHER PERSON AND ULTIMATELY APPLY INDEPEND-
 ENT  JUDGMENT IN THE BEST INTEREST OF THE AUTHORITY, ITS MISSION AND THE
 PUBLIC. AT THE TIME THAT EACH MEMBER TAKES AND  SUBSCRIBES  HIS  OR  HER
 OATH  OF  OFFICE,  OR WITHIN SIXTY DAYS AFTER THE EFFECTIVE DATE OF THIS
 PARAGRAPH IF THE MEMBER HAS ALREADY TAKEN AND SUBSCRIBED HIS OR HER OATH
 OF OFFICE, EXECUTE AN ACKNOWLEDGMENT, IN A FORM CONSISTENT WITH THE  ONE
 PRESCRIBED  BY THE NEW YORK INDEPENDENT AUTHORITIES BUDGET OFFICE ESTAB-
 LISHED PURSUANT TO TITLE TWO OF ARTICLE ONE OF  THE  PUBLIC  AUTHORITIES
 LAW  IN  WHICH  THE BOARD MEMBER ACKNOWLEDGES THAT HE OR SHE UNDERSTANDS
 HIS OR HER ROLE, AND FIDUCIARY RESPONSIBILITIES AS SET FORTH IN SUBPARA-
 GRAPH FOUR OF THIS PARAGRAPH, AND ACKNOWLEDGES THAT  HE  OR  SHE  UNDER-
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07554-01-7

 A. 4785                             2
 
 STANDS  HIS  OR  HER  DUTY  OF  LOYALTY AND CARE TO THE ORGANIZATION AND
 COMMITMENT TO THE AUTHORITY'S MISSION AND THE PUBLIC INTEREST.
   C.  ALL  BOARD MEMBERS, INCLUDING THE TENANT MEMBER, SHALL PARTICIPATE
 IN TRAINING APPROVED BY THE INSPECTOR GENERAL OF THE AUTHORITY REGARDING
 THEIR LEGAL, FIDUCIARY, FINANCIAL AND ETHICAL RESPONSIBILITIES AS DIREC-
 TORS OF AN AUTHORITY WITHIN ONE YEAR OF APPOINTMENT TO THE BOARD.  BOARD
 MEMBERS SHALL PARTICIPATE IN SUCH CONTINUING TRAINING AS MAY BE REQUIRED
 TO  REMAIN  INFORMED OF BEST PRACTICES, REGULATORY AND STATUTORY CHANGES
 RELATING TO THE EFFECTIVE OVERSIGHT  OF  THE  MANAGEMENT  AND  FINANCIAL
 ACTIVITIES OF PUBLIC CORPORATIONS AND TO ADHERE TO THE HIGHEST STANDARDS
 OF RESPONSIBLE GOVERNANCE.
   D.  NOTWITHSTANDING ANY LAWS TO THE CONTRARY, THE AUTHORITY SHALL NOT,
 DIRECTLY OR INDIRECTLY, EXTEND  OR  MAINTAIN  CREDIT,  ARRANGE  FOR  THE
 EXTENSION  OF  CREDIT, OR RENEW AN EXTENSION OF CREDIT, IN THE FORM OF A
 PERSONAL LOAN TO OR FOR ANY OFFICER, BOARD MEMBER  OR  EMPLOYEE  OF  THE
 AUTHORITY.
   § 2. Section 402 of the public housing law is amended by adding eleven
 new subdivisions 10, 10-a, 11, 12, 13, 14, 15, 16, 17, 18 and 19 to read
 as follows:
   10. DISPOSITION OF PROPERTY.  A. DEFINITIONS. FOR THE PURPOSES OF THIS
 SUBDIVISION:
   (1) "AUTHORITIES BUDGET OFFICE" SHALL MEAN THE INDEPENDENT AUTHORITIES
 BUDGET OFFICE ESTABLISHED PURSUANT TO SECTION FOUR OF THE PUBLIC AUTHOR-
 ITIES LAW.
   (2)  "CITY  COMPTROLLER" SHALL MEAN THE COMPTROLLER OF THE CITY OF NEW
 YORK.
   (3) "CONTRACTING OFFICER" SHALL MEAN THE OFFICER OR  EMPLOYEE  OF  THE
 AUTHORITY  WHO  SHALL  BE  APPOINTED  BY  RESOLUTION OF THE BOARD OF THE
 AUTHORITY TO BE RESPONSIBLE FOR THE DISPOSITION OF PROPERTY.
   (4) "DISPOSE", "DISPOSITION" OR "DISPOSAL" SHALL MEAN THE SALE,  LEASE
 OR  TRANSFER  OF  TITLE  OR ANY OTHER BENEFICIAL INTEREST IN PERSONAL OR
 REAL PROPERTY IN ACCORDANCE WITH PARAGRAPH C OF  THIS  SUBDIVISION,  AND
 SHALL ALSO INCLUDE THE DEMOLITION OF REAL PROPERTY.
   (5) "MAYOR" SHALL MEAN THE MAYOR OF THE CITY OF NEW YORK.
   (6) "PROPERTY" SHALL MEAN PERSONAL PROPERTY IN EXCESS OF FIVE THOUSAND
 DOLLARS  IN  VALUE, REAL PROPERTY, AND ANY INCHOATE OR OTHER INTEREST IN
 SUCH PROPERTY, TO THE EXTENT THAT  SUCH  INTEREST  MAY  BE  CONVEYED  TO
 ANOTHER PERSON FOR ANY PURPOSE, EXCLUDING AN INTEREST SECURING A LOAN OR
 OTHER FINANCIAL OBLIGATION OF ANOTHER PARTY.
   B.  DUTIES  OF THE AUTHORITY WITH RESPECT TO THE DISPOSAL OF PROPERTY.
 (1) THE AUTHORITY SHALL ADOPT  BY  RESOLUTION  COMPREHENSIVE  GUIDELINES
 WHICH SHALL (A) DETAIL THE AUTHORITY'S OPERATIVE POLICY AND INSTRUCTIONS
 REGARDING  THE  USE, AWARDING, MONITORING AND REPORTING OF CONTRACTS FOR
 THE DISPOSAL OF PROPERTY, AND (B) DESIGNATE A PROPERTY MANAGEMENT  OFFI-
 CER  WHO  SHALL  BE RESPONSIBLE FOR THE AUTHORITY'S COMPLIANCE WITH, AND
 ENFORCEMENT OF, SUCH GUIDELINES.   SUCH GUIDELINES SHALL  BE  CONSISTENT
 WITH, AND SHALL REQUIRE THE AUTHORITY'S DISPOSITION ACTIVITIES TO COMPLY
 WITH  THIS  SUBDIVISION,  THE  AUTHORITY'S  ENABLING LEGISLATION AND ANY
 OTHER APPLICABLE FEDERAL LAWS AND REGULATIONS FOR THE DISPOSAL OF  PROP-
 ERTY, EXCEPT THAT SUCH GUIDELINES MAY BE STRICTER THAN THE PROVISIONS OF
 THIS  SUBDIVISION,  THE  AUTHORITY'S  ENABLING LEGISLATION AND ANY OTHER
 APPLICABLE FEDERAL LAWS AND REGULATIONS FOR THE DISPOSAL OF PROPERTY  IF
 THE  AUTHORITY  DETERMINES  THAT  ADDITIONAL SAFEGUARDS ARE NECESSARY TO
 ASSURE THE INTEGRITY OF ITS DISPOSITION ACTIVITIES. GUIDELINES  APPROVED
 BY THE AUTHORITY SHALL BE ANNUALLY REVIEWED AND APPROVED BY THE BOARD OF
 THE  AUTHORITY. ON OR BEFORE THE THIRTY-FIRST DAY OF MARCH IN EACH YEAR,

 A. 4785                             3
 
 THE AUTHORITY SHALL FILE WITH THE AUTHORITIES BUDGET OFFICE  A  COPY  OF
 THE  GUIDELINES  MOST  RECENTLY  REVIEWED AND APPROVED BY THE AUTHORITY,
 INCLUDING THE NAME OF THE  AUTHORITY'S  DESIGNATED  PROPERTY  MANAGEMENT
 OFFICER.  AT  THE  TIME  OF  FILING SUCH GUIDELINES WITH THE AUTHORITIES
 BUDGET OFFICE, THE AUTHORITY SHALL ALSO  POST  SUCH  GUIDELINES  ON  THE
 AUTHORITY'S  INTERNET  WEBSITE.    GUIDELINES  POSTED ON THE AUTHORITY'S
 INTERNET WEBSITE SHALL BE MAINTAINED ON SUCH WEBSITE AT LEAST UNTIL  THE
 PROCUREMENT  GUIDELINES  FOR  THE  FOLLOWING  YEAR  ARE  POSTED  ON SUCH
 WEBSITE.
   (2) THE AUTHORITY SHALL:
   (A) MAINTAIN ADEQUATE INVENTORY CONTROLS  AND  ACCOUNTABILITY  SYSTEMS
 FOR ALL PROPERTY UNDER ITS CONTROL;
   (B)  PERIODICALLY  INVENTORY SUCH PROPERTY TO DETERMINE WHICH PROPERTY
 SHALL BE DISPOSED OF; AND
   (C) PRODUCE A WRITTEN REPORT  OF  SUCH  PROPERTY  IN  ACCORDANCE  WITH
 SUBPARAGRAPH THREE OF THIS PARAGRAPH.
   (3) (A) THE AUTHORITY SHALL PUBLISH, AT LEAST ANNUALLY, A REPORT LIST-
 ING  ALL  REAL  PROPERTY OWNED, CONTROLLED OR OPERATED BY THE AUTHORITY.
 SUCH REPORT SHALL INCLUDE A LIST AND FULL DESCRIPTION  OF  ALL  PROPERTY
 DISPOSED  OF  DURING  SUCH  PERIOD.  THE  REPORT SHALL CONTAIN THE PRICE
 RECEIVED BY THE AUTHORITY AND THE NAME OF THE  PURCHASER  FOR  ALL  SUCH
 PROPERTY DISPOSED OF BY THE AUTHORITY DURING SUCH PERIOD.
   (B) THE AUTHORITY SHALL DELIVER COPIES OF SUCH REPORT TO THE INDEPEND-
 ENT  AUTHORITIES BUDGET OFFICE, THE MAYOR, THE CITY COMPTROLLER, THE NEW
 YORK CITY COUNCIL AND THE STATE LEGISLATURE.
   C. DISPOSAL OF AUTHORITY PROPERTY. (1) EXCEPT AS OTHERWISE PROVIDED IN
 THIS SUBDIVISION, THE PROPERTY  MANAGEMENT  OFFICER  DESIGNATED  BY  THE
 AUTHORITY SHALL HAVE SUPERVISION OVER THE DISPOSITION OF PROPERTY OF THE
 AUTHORITY.
   (2)  THE CUSTODY AND CONTROL OF THE PROPERTY OF THE AUTHORITY, PENDING
 ITS DISPOSITION, AND THE DISPOSAL OF SUCH PROPERTY, SHALL  BE  PERFORMED
 BY THE AUTHORITY.
   (3)  SUBJECT TO SUBPARAGRAPH FIVE OF THIS PARAGRAPH, THE AUTHORITY MAY
 DISPOSE OF PROPERTY FOR NOT LESS THAN THE  FAIR  MARKET  VALUE  OF  SUCH
 PROPERTY  BY  SALE,  LEASE,  EXCHANGE, OR TRANSFER, FOR CASH, CREDIT, OR
 OTHER PROPERTY, WITH OR WITHOUT WARRANTY, AND UPON SUCH OTHER TERMS  AND
 CONDITIONS  AS  THE AUTHORITY DEEMS PROPER, PROVIDED THAT SUCH TERMS AND
 CONDITIONS ARE CONSISTENT WITH INDUSTRY PRACTICES AND ARE COMPARABLE  TO
 TERMS  AND  CONDITIONS  CONTAINED  IN  SIMILAR  AGREEMENTS  OR CONTRACTS
 BETWEEN AND BY PRIVATE PARTIES, AND IT MAY EXECUTE  SUCH  DOCUMENTS  FOR
 THE  TRANSFER OF TITLE OR OTHER INTEREST IN PROPERTY AND TAKE SUCH OTHER
 ACTION AS IT DEEMS NECESSARY OR PROPER TO DISPOSE OF SUCH PROPERTY UNDER
 THE PROVISIONS OF THIS SUBDIVISION PROVIDED, HOWEVER, THAT  NO  DISPOSI-
 TION  OF  REAL PROPERTY, OR ANY INTEREST IN REAL PROPERTY, SHALL BE MADE
 UNLESS AN APPRAISAL OF THE VALUE OF SUCH PROPERTY HAS BEEN  MADE  BY  AN
 INDEPENDENT  APPRAISER  AND  INCLUDED  IN THE RECORD OF THE TRANSACTION,
 AND, PROVIDED FURTHER, THAT NO DISPOSITION OF ANY OTHER PROPERTY,  WHICH
 BECAUSE OF ITS UNIQUE NATURE OR THE UNIQUE CIRCUMSTANCES OF THE PROPOSED
 TRANSACTION  IS  NOT READILY VALUED BY REFERENCE TO AN ACTIVE MARKET FOR
 SIMILAR PROPERTY, SHALL BE MADE WITHOUT A SIMILAR APPRAISAL.
   (4) (A) ALL DISPOSALS OR CONTRACTS FOR DISPOSAL  OF  PROPERTY  OF  THE
 AUTHORITY  MADE  OR  AUTHORIZED  BY  THE  AUTHORITY  SHALL BE MADE AFTER
 PUBLICLY ADVERTISING FOR BIDS EXCEPT AS PROVIDED IN CLAUSE (C)  OF  THIS
 SUBPARAGRAPH.
   (B)  WHENEVER PUBLIC ADVERTISING FOR BIDS IS REQUIRED UNDER CLAUSE (A)
 OF THIS SUBPARAGRAPH:

 A. 4785                             4
 
   (I) THE ADVERTISEMENT FOR BIDS SHALL BE MADE AT SUCH TIME PRIOR TO THE
 DISPOSAL OR CONTRACT, THROUGH SUCH METHODS, AND ON SUCH TERMS AND CONDI-
 TIONS AS SHALL PERMIT FULL AND  FREE  COMPETITION  CONSISTENT  WITH  THE
 VALUE AND NATURE OF THE PROPERTY;
   (II) ALL BIDS SHALL BE PUBLICLY DISCLOSED AT THE TIME AND PLACE STATED
 IN THE ADVERTISEMENT; AND
   (III)  THE AWARD SHALL BE MADE WITH REASONABLE PROMPTNESS BY NOTICE TO
 THE RESPONSIBLE BIDDER WHOSE BID, CONFORMING TO THE INVITATION FOR BIDS,
 WILL BE MOST ADVANTAGEOUS TO THE  AUTHORITY,  PRICE  AND  OTHER  FACTORS
 CONSIDERED;  PROVIDED,  THAT  ALL BIDS MAY BE REJECTED WHEN IT IS IN THE
 PUBLIC INTEREST TO DO SO.
   (C) DISPOSALS AND CONTRACTS FOR DISPOSAL OF PROPERTY MAY BE NEGOTIATED
 OR MADE BY PUBLIC AUCTION WITHOUT REGARD TO CLAUSES (A) AND (B) OF  THIS
 SUBPARAGRAPH  BUT  SUBJECT  TO OBTAINING SUCH COMPETITION AS IS FEASIBLE
 UNDER THE CIRCUMSTANCES, IF:
   (I) THE PERSONAL PROPERTY INVOLVED HAS  QUALITIES  SEPARATE  FROM  THE
 UTILITARIAN PURPOSE OF SUCH PROPERTY, SUCH AS ARTISTIC QUALITY, ANTIQUI-
 TY, HISTORICAL SIGNIFICANCE, RARITY, OR OTHER QUALITY OF SIMILAR EFFECT,
 THAT WOULD TEND TO INCREASE ITS VALUE, OR IF THE PERSONAL PROPERTY IS TO
 BE  SOLD IN SUCH QUANTITY THAT, IF IT WERE DISPOSED OF UNDER CLAUSES (A)
 AND (B) OF THIS SUBPARAGRAPH, WOULD ADVERSELY AFFECT THE STATE OR  LOCAL
 MARKET  FOR  SUCH  PROPERTY, AND THE ESTIMATED FAIR MARKET VALUE OF SUCH
 PROPERTY AND OTHER SATISFACTORY TERMS OF DISPOSAL  CAN  BE  OBTAINED  BY
 NEGOTIATION;
   (II) THE FAIR MARKET VALUE OF THE PROPERTY DOES NOT EXCEED FIFTY THOU-
 SAND DOLLARS;
   (III) BID PRICES AFTER ADVERTISING THEREFOR ARE NOT REASONABLE, EITHER
 AS  TO  ALL OR SOME PART OF THE PROPERTY, OR HAVE NOT BEEN INDEPENDENTLY
 ARRIVED AT IN OPEN COMPETITION;
   (IV) THE DISPOSAL WILL BE TO THE STATE OR ANY  POLITICAL  SUBDIVISION,
 AND  THE ESTIMATED FAIR MARKET VALUE OF THE PROPERTY AND OTHER SATISFAC-
 TORY TERMS OF DISPOSAL ARE OBTAINED BY NEGOTIATION;
   (V) UNDER THOSE CIRCUMSTANCES PERMITTED BY SUBPARAGRAPH FIVE  OF  THIS
 PARAGRAPH; OR
   (VI) SUCH ACTION IS OTHERWISE AUTHORIZED BY LAW.
   (D)  (I)  AN  EXPLANATORY  STATEMENT  SHALL BE PREPARED OF THE CIRCUM-
 STANCES OF EACH DISPOSAL BY NEGOTIATION OF:
   (A) ANY PERSONAL PROPERTY WHICH HAS AN ESTIMATED FAIR MARKET VALUE  IN
 EXCESS OF FIFTY THOUSAND DOLLARS;
   (B)  ANY  REAL  PROPERTY  THAT  HAS  AN ESTIMATED FAIR MARKET VALUE IN
 EXCESS OF FIFTY THOUSAND DOLLARS;
   (C) ANY REAL PROPERTY DISPOSED OF AT BELOW FAIR MARKET VALUE OR FOR  A
 NOMINAL PRICE.
   (II)  EACH SUCH STATEMENT SHALL BE TRANSMITTED TO THE PERSONS ENTITLED
 TO RECEIVE COPIES OF THE REPORT  REQUIRED  UNDER  PARAGRAPH  B  OF  THIS
 SUBDIVISION NOT LESS THAN NINETY DAYS IN ADVANCE OF SUCH DISPOSAL, AND A
 COPY THEREOF SHALL BE PRESERVED IN THE FILES OF THE AUTHORITY.
   (5)  (A)  NO PROPERTY OWNED, LEASED OR OTHERWISE IN THE CONTROL OF THE
 AUTHORITY MAY BE SOLD, LEASED, OR OTHERWISE ALIENATED FOR LESS THAN  ITS
 FAIR MARKET VALUE EXCEPT:
   (I)  IF  THE  PURCHASER, LESSEE OR TRANSFEREE IS A GOVERNMENT OR OTHER
 PUBLIC ENTITY, AND THE TERMS AND CONDITIONS OF THE  DISPOSITION  REQUIRE
 THAT  THE OWNERSHIP AND USE OF THE ASSET WILL REMAIN WITH THE GOVERNMENT
 OR ANY OTHER PUBLIC ENTITY; OR
   (II) IF THE AUTHORITY SEEKS TO DISPOSE OF PROPERTY FOR LESS  THAN  ITS
 FAIR  MARKET  VALUE  TO  OTHER  THAN A GOVERNMENTAL ENTITY THE AUTHORITY

 A. 4785                             5
 
 SHALL PROVIDE WRITTEN NOTIFICATION THEREOF TO THE MAYOR, THE CITY  COMP-
 TROLLER, THE STATE LEGISLATURE AND THE NEW YORK CITY COUNCIL.
   (B)  IN  THE  EVENT  A BELOW FAIR MARKET VALUE PROPERTY DISPOSITION IS
 PROPOSED, THE FOLLOWING INFORMATION MUST BE PROVIDED TO THE  MAYOR,  THE
 CITY  COMPTROLLER,  THE  STATE LEGISLATURE AND THE NEW YORK CITY COUNCIL
 AND THE GENERAL PUBLIC:
   (I) A FULL DESCRIPTION OF THE PROPERTY;
   (II) AN APPRAISAL OF THE FAIR MARKET VALUE OF  THE  PROPERTY  AND  ANY
 OTHER INFORMATION ESTABLISHING THE FAIR MARKET VALUE;
   (III)  A DESCRIPTION OF THE PURPOSE OF THE DISPOSITION AND A STATEMENT
 OF THE KIND AND AMOUNT OF THE BENEFIT TO THE RESIDENTS OF  THE  AUTHORI-
 TY'S  HOUSING  RESULTING FROM THE DISPOSITION, INCLUDING BUT NOT LIMITED
 TO, THE BENEFITS, IF ANY, TO THE COMMUNITIES IN WHICH  THE  PROPERTY  IS
 SITUATED;
   (IV) A STATEMENT OF THE FINANCIAL VALUE TO BE RECEIVED BY THE AUTHORI-
 TY AND BY THE PRIVATE PARTIES PARTICIPATING OR OTHERWISE INVOLVED IN THE
 PROPERTY  COMPARED  TO THE FAIR MARKET VALUE, INCLUDING THE PROJECTED OR
 POTENTIAL VALUE OF ANY TAX CREDITS, EXEMPTIONS, GOVERNMENT SUBSIDIES  OR
 GRANTS, OR REAL PROPERTY TAX ABATEMENTS GIVEN TO THE PRIVATE PARTIES;
   (V) THE NAMES OF ANY PRIVATE PARTIES PARTICIPATING IN THE DISPOSITION,
 AND  IF  DIFFERENT THAN THE STATEMENT REQUIRED BY SUBCLAUSE (IV) OF THIS
 CLAUSE, A STATEMENT OF THE VALUE TO THE PRIVATE PARTY;
   (VI) THE NAMES OF OTHER PRIVATE PARTIES WHO HAVE  MADE  AN  OFFER  FOR
 SUCH PROPERTY, THE VALUE OFFERED, AND THE PURPOSE FOR WHICH THE PROPERTY
 WAS SOUGHT TO BE USED; AND
   (VII) AN ANALYSIS COMPARING THE VALUE OR CONSIDERATION RECEIVED BY THE
 AUTHORITY FOR A DISPOSITION OF AUTHORITY REAL PROPERTY WITH THE VALUE OR
 CONSIDERATION THAT A PRIVATE PARTY PURCHASER OR LESSOR WOULD RECEIVE FOR
 DISPOSING OF SIMILARLY-SITUATED OR COMPARABLE REAL PROPERTY AND EXPLAIN-
 ING  THE  DIFFERENCES  OR  DISCREPANCIES BETWEEN TWO VALUES OR CONSIDER-
 ATION.
   (C) BEFORE APPROVING THE DISPOSAL OF ANY PROPERTY FOR LESS  THAN  FAIR
 MARKET  VALUE,  THE  BOARD  SHALL  CONSIDER THE INFORMATION DESCRIBED IN
 CLAUSE (B) OF THIS SUBPARAGRAPH AND MAKE A  WRITTEN  DETERMINATION  THAT
 THERE IS NO REASONABLE ALTERNATIVE TO THE PROPOSED BELOW-MARKET DISPOSI-
 TION THAT WOULD ACHIEVE THE SAME PURPOSE OF SUCH DISPOSITION. THE DETER-
 MINATION  SHALL  INCLUDE  THE  REASONS  FOR DISPOSING OF THE PROPERTY AT
 BELOW FAIR MARKET VALUE.
   D. PUBLIC HEARINGS. (1) IN ADDITION TO THE  PUBLIC  HEARINGS  REQUIRED
 PURSUANT  TO  FEDERAL  LAWS  AND  REGULATIONS,  THE AUTHORITY SHALL ALSO
 CONDUCT AT LEAST ONE PUBLIC HEARING AT THE DEVELOPMENT,  PROJECT,  HOUSE
 OR  SITE  IN  WHICH  THE  DISPOSITION  IS  BEING PLANNED OR PROPOSED, AS
 FOLLOWS:
   (A) AT LEAST TEN DAYS PRIOR  TO  THE  DATE  WHEN  THE  APPLICATION  TO
 DISPOSE OF THE AFFECTED PROPERTY IS PRESENTED TO THE AUTHORITY'S GOVERN-
 ING  BOARD  FOR  APPROVAL. THE HEARING SHALL INCLUDE A FULL AND DETAILED
 PRESENTATION ON THE APPRAISAL OF THE SUBJECT PROPERTY;
   (B) IF THE AUTHORITY MAKES A SIGNIFICANT AMENDMENT TO THE  APPLICATION
 AT ANY TIME AFTER THE PUBLIC HEARING CONDUCTED PURSUANT TO CLAUSE (A) OF
 THIS  SUBPARAGRAPH.  THE  AUTHORITY  MAY  NOT  SUBMIT  THE AMENDMENT AND
 FORWARD THE AMENDED APPLICATION TO THE FEDERAL DEPARTMENT OF HOUSING AND
 URBAN DEVELOPMENT UNTIL THE AUTHORITY HAS CONDUCTED A PUBLIC HEARING  ON
 THE SIGNIFICANT AMENDMENT. FOR THE PURPOSES OF THIS CLAUSE, "SIGNIFICANT
 AMENDMENT"  SHALL  MEAN:  ANY CHANGE TO THE APPLICATION THAT WILL IN ANY
 WAY IMPAIR, CHANGE OR  AFFECT  THE  RIGHTS  OF,  AND  BENEFITS  TO,  THE
 AFFECTED  RESIDENTS,  THE AFFECTED HOUSING DEVELOPMENT OR PROJECT OR THE

 A. 4785                             6
 
 RESIDENTS OF PUBLIC HOUSING; AND THAT IS NOT MERELY CORRECTING  A  TYPO-
 GRAPHICAL ERROR, OR MAKING CONFORMING OR TECHNICAL AMENDMENTS; AND
   (C) WITHIN FIFTEEN DAYS AFTER THE AUTHORITY HAS RECEIVED APPROVAL FROM
 THE  FEDERAL  DEPARTMENT OF HOUSING AND URBAN RENEWAL ON THE APPLICATION
 TO DISPOSE OF THE PROPERTY. THE AUTHORITY SHALL  NOT  BE  AUTHORIZED  TO
 IMPLEMENT  THE  APPROVED  APPLICATION UNTIL SUCH PUBLIC HEARING HAS BEEN
 HELD.
   (2) THE AUTHORITY SHALL PROVIDE WRITTEN NOTICE IN A  MANNER  AND  FORM
 SUFFICIENT  TO  INFORM  THE AFFECTED RESIDENTS, TENANT ORGANIZATIONS AND
 THE PUBLIC AT LEAST TEN DAYS BEFORE THE DATE OF ANY  PUBLIC  HEARING  IS
 CONDUCTED PURSUANT TO THIS PARAGRAPH.
   E.  BOARD ACTION. (1) AS A CONDITION FOR ITS SUBMISSION TO THE FEDERAL
 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, THE APPLICATION TO  DISPOSE
 OF  REAL  PROPERTY  SHALL  BE  APPROVED  BY THE MEMBERS OF THE AUTHORITY
 PURSUANT TO A BOARD RESOLUTION, AS PROVIDED IN THIS PARAGRAPH.
   (2) THE RESOLUTION MUST BE DATED AFTER THE DATE OF THE  LAST  RESIDENT
 MEETING AND AFTER THE DATE OF ANY LETTER OF SUPPORT FROM THE APPROPRIATE
 GOVERNMENT  OFFICIALS  RELATING TO THE APPLICATION, AND SHALL SET FORTH,
 AMONG OTHER THINGS:
   (A) THE DATES AND A DESCRIPTION OF THE  CONSULTATION  WITH  RESIDENTS,
 TENANT ORGANIZATIONS AND OTHER INTERESTED PARTIES;
   (B) THE DATES AND A DESCRIPTION OF ANY CONSULTATION WITH LOCAL GOVERN-
 MENT OFFICIALS; AND
   (C)  LETTERS  OF SUPPORT FROM THE APPROPRIATE TENANT ORGANIZATIONS AND
 PUBLIC OFFICIALS.
   10-A. PROJECT TRACKING SYSTEM. A. THE AUTHORITY  SHALL  ESTABLISH  AND
 MAINTAIN  A  SYSTEM TO TRACK, MONITOR AND ASSESS THE STATUS AND PROGRESS
 OF ALL CAPITAL PROJECTS, AND ALL DISPOSITION PROJECTS  APPROVED  BY  THE
 FEDERAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND OF EVERY MAINTE-
 NANCE  OR  REPAIR  PROJECT  PERFORMED BY THE DEPARTMENT. THE INFORMATION
 CONTAINED IN ANY SUCH SYSTEM SHALL INCLUDE, AT A MINIMUM:
   (1) A DESCRIPTION OF THE PROJECT, INCLUDING ITS LOCATION;
   (2) THE CATEGORY OR TYPE OF REPAIR, IF APPLICABLE;
   (3) THE ORIGINAL START DATE;
   (4) THE ACTUAL START DATE, IF DIFFERENT THAN THE ORIGINAL START DATE;
   (5) THE ORIGINAL BUDGET;
   (6) THE CURRENT BUDGET;
   (7) THE FINAL COST OF THE PROJECT;
   (8) THE CURRENT PHASE OF THE PROJECT;
   (9) THE ORIGINAL COMPLETION DATE; AND
   (10) THE ACTUAL  COMPLETION  DATE,  IF  DIFFERENT  THAN  THE  ORIGINAL
 COMPLETION DATE.
   B.  THE  SYSTEM  SHALL  BE OPEN AND AVAILABLE TO THE AUTHORITY'S RESI-
 DENTS.  THE AUTHORITY SHALL ENSURE THAT THE INFORMATION CONTAINED IN THE
 TRACKING SYSTEM IS AVAILABLE ON THE AUTHORITY'S WEBSITE.
   C. THE AUTHORITY SHALL ISSUE A  REPORT,  AT  LEAST  ANNUALLY,  SETTING
 FORTH  AND  EXPLAINING THE INFORMATION CONTAINED IN THE TRACKING SYSTEM,
 INCLUDING:
   (1) THE TOTAL NUMBER OF REQUESTS FOR  REPAIRS,  BROKEN  DOWN  BY  WORK
 TYPES OR CATEGORIES;
   (2)  THE  TOTAL NUMBER OF PENDING OR OUTSTANDING PROJECTS, BROKEN DOWN
 BY WORK TYPES OR CATEGORIES;
   (3) THE TOTAL NUMBER OF PROJECTS COMPLETED;
   (4) THE AVERAGE NUMBER OF  DAYS  TO  COMPLETE  MAINTENANCE  OR  REPAIR
 PROJECTS, BROKEN DOWN BY THE DIFFERENT WORK TYPES OR CATEGORIES;

 A. 4785                             7
 
   (5) THE TOTAL NUMBER OF MAINTENANCE AND REPAIR PROJECTS NOT COMPLETED,
 BROKEN DOWN BY THE DIFFERENT WORK TYPES OR CATEGORIES;
   (6)  AN ESTIMATE OF THE NUMBER OF DAYS REQUIRED TO COMPLETE ALL OF THE
 PROJECTS, INCLUDING ANY BACKLOGS;
   (7) AN EXPLANATION OR REASONS FOR ANY DELAYS IN THE  COMPLETION  OF  A
 PROJECT IN A TIMELY MANNER; AND
   (8)  AN EXPLANATION OR REASONS WHY THE COSTS OF A PROJECT EXCEEDED THE
 ORIGINAL BUDGET, IF APPLICABLE.
   11. REPORTING REQUIREMENTS.   A. THE AUTHORITY  SHALL  SUBMIT  TO  THE
 INDEPENDENT  AUTHORITIES  BUDGET  OFFICE ESTABLISHED PURSUANT TO SECTION
 FOUR OF THE PUBLIC AUTHORITIES LAW, THE MAYOR AND THE COMPTROLLER OF THE
 CITY OF NEW YORK AND THE STATE LEGISLATURE, WITHIN NINETY DAYS AFTER THE
 END OF ITS FISCAL YEAR, A COMPLETE AND DETAILED REPORT OR REPORTS TO THE
 EXTENT THAT SUCH MATTERS ARE NOT FULLY  REPORTED  OR  DISCLOSED  IN  THE
 ANNUAL  INDEPENDENT  AUDIT  REPORT  PURSUANT TO THIS SUBDIVISION SETTING
 FORTH:  (1) ITS FINANCIAL REPORTS, INCLUDING (A) AUDITED  FINANCIALS  IN
 ACCORDANCE  WITH  ALL  APPLICABLE  REGULATIONS  AND  FOLLOWING GENERALLY
 ACCEPTED ACCOUNTING PRINCIPLES, (B)  GRANT  AND  SUBSIDY  PROGRAMS,  (C)
 OPERATING  AND FINANCIAL RISKS, AND (D) LONG-TERM LIABILITIES, INCLUDING
 LEASES AND EMPLOYEE BENEFIT PLANS;  (2)  A  COMPENSATION  SCHEDULE  THAT
 SHALL  INCLUDE,  BY  POSITION, TITLE AND NAME OF THE PERSON HOLDING SUCH
 POSITION OR TITLE, THE SALARY, COMPENSATION, ALLOWANCE  AND/OR  BENEFITS
 PROVIDED  TO  ANY  OFFICER, DIRECTOR OR EMPLOYEE IN A DECISION MAKING OR
 MANAGERIAL POSITION OF SUCH AUTHORITY WHOSE SALARY IS IN EXCESS  OF  ONE
 HUNDRED  THOUSAND  DOLLARS;  (3) BIOGRAPHICAL INFORMATION, NOT INCLUDING
 CONFIDENTIAL PERSONAL INFORMATION, FOR ALL DIRECTORS AND SENIOR  MANAGE-
 MENT;  (4)  AN  ASSESSMENT  OF THE EFFECTIVENESS OF ITS INTERNAL CONTROL
 STRUCTURE AND PROCEDURES; (5) A DESCRIPTION OF  THE  AUTHORITY  AND  ITS
 BOARD  STRUCTURE,  INCLUDING  (A)  NAMES  OF  COMMITTEES  AND  COMMITTEE
 MEMBERS, (B) LISTS OF BOARD MEETINGS AND ATTENDANCE, (C) DESCRIPTIONS OF
 MAJOR AUTHORITY DIVISIONS, DEPARTMENTS AND BUREAUS, AND  (D)  THE  TOTAL
 NUMBER  OF  FULL AND PART-TIME EMPLOYEES; (6) ITS BY-LAWS; (7) A LISTING
 OF MATERIAL CHANGES IN OPERATIONS  AND  PROGRAMS  DURING  THE  REPORTING
 YEAR;  (8)  AT  A  MINIMUM,  A FOUR-YEAR FINANCIAL PLAN, INCLUDING (A) A
 CURRENT AND PROJECTED  CAPITAL  BUDGET,  AND  (B)  AN  OPERATING  BUDGET
 REPORT,  INCLUDING  AN  ACTUAL VERSUS ESTIMATED BUDGET, WITH AN ANALYSIS
 AND  MEASUREMENT  OF  FINANCIAL  AND  OPERATING   PERFORMANCE;   (9)   A
 DESCRIPTION  OF  THE  TOTAL AMOUNTS OF ASSETS OR SERVICES OR BOTH ASSETS
 AND SERVICES BOUGHT OR SOLD WITHOUT COMPETITIVE BIDDING,  INCLUDING  (A)
 THE  NATURE OF THOSE ASSETS OR SERVICES, (B) THE NAMES OF THE PARTIES TO
 THE TRANSACTION, AND (C) WHERE THE CONTRACT PRICE FOR ASSETS OR SERVICES
 PURCHASED EXCEEDS FAIR MARKET VALUE, OR WHERE  THE  CONTRACT  PRICE  FOR
 ASSETS  OR  SERVICES  SOLD  IS  LESS  THAN FAIR MARKET VALUE, A DETAILED
 EXPLANATION OF THE JUSTIFICATION FOR MAKING THE PURCHASE OR SALE WITHOUT
 COMPETITIVE BIDDING, AND A CERTIFICATION BY THE  CHAIRPERSON  AND  CHIEF
 FINANCIAL  OFFICER OF THE AUTHORITY THAT THEY HAVE REVIEWED THE TERMS OF
 SUCH PURCHASE OR SALE AND DETERMINED THAT IT  COMPLIES  WITH  APPLICABLE
 LAW  AND  PROCUREMENT  GUIDELINES;  (10)  A  LIST AND DESCRIPTION OF THE
 DISPOSITION PROJECTS UNDERTAKEN BY THE  AUTHORITY  IN  THE  PAST  FISCAL
 YEAR, IN THE CURRENT FISCAL YEAR, AND IN THE FOLLOWING FISCAL YEAR; (11)
 A  LIST  AND DESCRIPTION OF ALL REAL PROPERTY OWNED, CONTROLLED OR OPER-
 ATED BY THE AUTHORITY, REGARDLESS OF SIZE OR  VALUE;  (12)  A  LIST  AND
 DESCRIPTION  OF  ANY REAL PROPERTY ACQUIRED BY THE AUTHORITY FOR A PRICE
 OF FIFTY THOUSAND DOLLARS OR MORE IN THE CURRENT FISCAL YEAR, REGARDLESS
 OF WHETHER THE PURCHASE WAS FOR CASH, MORTGAGE, IN-KIND SERVICES OR  ANY
 OTHER  CONSIDERATION; (13) A LIST AND DESCRIPTION OF ANY OTHER ASSETS OR

 A. 4785                             8
 
 PROPERTY, THE VALUE OF WHICH EXCEEDS TEN THOUSAND DOLLARS; (14)  A  LIST
 AND  DESCRIPTION  OF  ANY  SERVICE OR EMPLOYMENT CONTRACTS, THE VALUE OF
 WHICH EXCEEDS FIFTY THOUSAND DOLLARS, TO WHICH THE AUTHORITY IS A PARTY;
 (15) THE EXTENT OF PARTICIPATION BY MINORITY AND WOMEN-OWNED ENTERPRISES
 IN AUTHORITY CONTRACTS AND SERVICES; (16) EMPLOYMENT NUMBERS RELATING TO
 THE  AUTHORITY'S  RESIDENT  EMPLOYMENT  PROGRAM FOR THE REPORTING FISCAL
 YEAR, INCLUDING BUT NOT LIMITED TO, THE TOTAL NUMBER OF POSITIONS AVAIL-
 ABLE, BROKEN DOWN BY THE TYPE OF JOBS; THE NUMBER OF APPLICANTS FOR EACH
 POSITION; THE LENGTH OF EMPLOYMENT OF EACH POSITION; THE RATE OF PAY AND
 BENEFITS FOR EACH POSITION; AND THE NUMBER  OF  POSITIONS  THAT  LED  TO
 FULL-TIME EMPLOYMENT FOR PARTICIPATING RESIDENTS; AND (17) A DESCRIPTION
 OF ANY MATERIAL PENDING LITIGATION IN WHICH THE AUTHORITY IS INVOLVED AS
 A PARTY DURING THE REPORTING YEAR.
   B.  (1)  THE  AUTHORITY  SHALL  MAKE ACCESSIBLE TO THE PUBLIC, VIA ITS
 OFFICIAL WEB SITE, THE REPORT OR REPORTS REQUIRED PURSUANT TO  PARAGRAPH
 A  OF THIS SUBDIVISION EXCEPT INFORMATION THAT IS EXEMPT FROM DISCLOSURE
 PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS LAW. THE AUTHORITY  SHALL
 ALSO PREPARE AND MAKE ACCESSIBLE A SUMMARY IN PLAIN ENGLISH OF THE PRIN-
 CIPAL INFORMATION IN ITS OPERATING AND CAPITAL BUDGET AND CONCLUSIONS TO
 BE DRAWN FROM IT. ANY FINANCIAL INFORMATION REQUIRED TO BE POSTED ON THE
 WEBSITE PURSUANT TO THE PROVISIONS OF THIS SECTION SHALL BE PRESENTED IN
 A DOWNLOADABLE, SEARCHABLE FORMAT.
   (2)  THE  AUTHORITY  SHALL  ALSO PREPARE AND MAKE AVAILABLE FOR PUBLIC
 INSPECTION ON ITS WEBSITE: (A) INFORMATION THAT DETAILS THE  SOURCES  OF
 DATA AND THE ASSUMPTIONS AND METHODS OF ESTIMATION USED TO CALCULATE ALL
 OPERATING  AND  CAPITAL  BUDGET  PROJECTIONS,  CONSISTENT WITH GENERALLY
 ACCEPTED BUDGETARY PRACTICES; (B) WITHIN SIXTY DAYS OF  THE  RELEASE  OF
 THE  ADOPTED  BUDGET, MONTHLY PROJECTIONS FOR THE CURRENT FISCAL YEAR OF
 ALL REVENUE AND EXPENSES, AND STAFFING FOR THE AUTHORITY; (C) THE STATUS
 OF CAPITAL PROJECTS BY CAPITAL ELEMENT, INCLUDING  BUT  NOT  LIMITED  TO
 COMMITMENTS,  EXPENDITURES  AND  COMPLETIONS;  AND (D) AN EXPLANATION OF
 MATERIAL VARIANCES FROM THE CAPITAL PLAN,  SUCH  AS  COST  OVERRUNS  AND
 DELAYS.
   C.  EVERY  FINANCIAL  REPORT SUBMITTED UNDER THIS SUBDIVISION SHALL BE
 APPROVED BY THE BOARD AND SHALL BE CERTIFIED IN  WRITING  BY  THE  CHIEF
 EXECUTIVE  OFFICER AND THE CHIEF FINANCIAL OFFICER OF THE AUTHORITY THAT
 BASED ON THE OFFICER'S KNOWLEDGE (1) THE INFORMATION PROVIDED THEREIN IS
 ACCURATE, CORRECT AND DOES NOT CONTAIN ANY UNTRUE STATEMENT OF  MATERIAL
 FACT; (2) DOES NOT OMIT ANY MATERIAL FACT WHICH, IF OMITTED, WOULD CAUSE
 THE  FINANCIAL STATEMENTS TO BE MISLEADING IN LIGHT OF THE CIRCUMSTANCES
 UNDER WHICH SUCH STATEMENTS ARE MADE; AND (3)  FAIRLY  PRESENTS  IN  ALL
 MATERIAL  RESPECTS  THE FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF
 THE AUTHORITY AS OF, AND FOR, THE PERIODS  PRESENTED  IN  THE  FINANCIAL
 STATEMENTS.
   D.  AT THE REQUEST OF THE AUTHORITY, THE AUTHORITIES BUDGET OFFICE MAY
 DETERMINE THAT THE REPORTS, RECORDS,  DATA  AND  ANY  OTHER  INFORMATION
 SUBMITTED  BY  THE  AUTHORITY  PURSUANT  TO FEDERAL LAWS, RULES OR REGU-
 LATIONS  FULLY  COMPLIES  WITH  OR  OTHERWISE  SATISFIES  THE  REPORTING
 REQUIREMENTS  SET  FORTH  IN  THIS  SUBDIVISION.  THE AUTHORITIES BUDGET
 OFFICE SHALL INFORM THE AUTHORITY OF ITS  DETERMINATION  AND  MAY  WAIVE
 COMPLIANCE  WITH  PARAGRAPH A OF THIS SUBDIVISION OR SHALL SPECIFY THOSE
 MATTERS SET FORTH IN SUCH  PARAGRAPH  A  THAT  THE  AUTHORITY  SHALL  BE
 REQUIRED  TO  SUBMIT A REPORT ON. ANY DETERMINATION MADE BY THE AUTHORI-
 TIES BUDGET OFFICE PURSUANT TO THIS PARAGRAPH SHALL  BE  FINAL  AND  NOT
 SUBJECT TO JUDICIAL REVIEW.

 A. 4785                             9
 
   12. ANNUAL INDEPENDENT AUDIT REPORT.  A. THE AUTHORITY SHALL SUBMIT TO
 THE  INDEPENDENT  AUTHORITIES  BUDGET OFFICE ESTABLISHED PURSUANT TO THE
 PUBLIC AUTHORITIES LAW, THE MAYOR AND COMPTROLLER OF  THE  CITY  OF  NEW
 YORK,  AND  THE STATE LEGISLATURE, TOGETHER WITH THE REPORT DESCRIBED IN
 SUBDIVISION  ELEVEN  OF  THIS  SECTION, A COPY OF THE ANNUAL INDEPENDENT
 AUDIT REPORT, PERFORMED BY A CERTIFIED PUBLIC ACCOUNTING FIRM IN ACCORD-
 ANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS, AND  MANAGEMENT  LETTER
 AND  ANY  OTHER  EXTERNAL  EXAMINATION  OF THE BOOKS AND ACCOUNTS OF THE
 AUTHORITY.
   B. THE CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM THAT PERFORMS  ANY
 AUDIT  REQUIRED  BY  THIS  SUBDIVISION  SHALL TIMELY REPORT TO THE BOARD
 MEMBERS OF THE AUTHORITY: (1) ALL CRITICAL ACCOUNTING POLICIES AND PRAC-
 TICES TO BE USED; (2) ALL ALTERNATIVE TREATMENTS OF  FINANCIAL  INFORMA-
 TION  WITHIN  GENERALLY  ACCEPTED  ACCOUNTING  PRINCIPLES THAT HAVE BEEN
 DISCUSSED WITH MANAGEMENT OFFICIALS OF THE AUTHORITY,  RAMIFICATIONS  OF
 THE  USE  OF SUCH ALTERNATIVE DISCLOSURES AND TREATMENTS, AND THE TREAT-
 MENT PREFERRED BY THE CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM;  AND
 (3)  OTHER  MATERIAL  WRITTEN COMMUNICATIONS BETWEEN THE CERTIFIED INDE-
 PENDENT PUBLIC ACCOUNTING FIRM AND THE MANAGEMENT OF THE AUTHORITY, SUCH
 AS THE MANAGEMENT LETTER ALONG WITH MANAGEMENT'S  RESPONSE  OR  PLAN  OF
 CORRECTIVE  ACTION, MATERIAL CORRECTIONS IDENTIFIED OR SCHEDULE OF UNAD-
 JUSTED DIFFERENCES, WHERE APPLICABLE.
   C. NOTWITHSTANDING ANY OTHER PROVISION OF LAW  TO  THE  CONTRARY,  THE
 CERTIFIED  INDEPENDENT PUBLIC ACCOUNTING FIRM PROVIDING SUCH AUTHORITY'S
 ANNUAL INDEPENDENT AUDIT WILL BE PROHIBITED IN PROVIDING AUDIT  SERVICES
 TO  THE  AUTHORITY  IF  THE LEAD (OR COORDINATING) AUDIT PARTNER (HAVING
 PRIMARY RESPONSIBILITY FOR THE AUDIT), OR THE AUDIT PARTNER  RESPONSIBLE
 FOR  REVIEWING THE AUDIT, HAS PERFORMED AUDIT SERVICES FOR THE AUTHORITY
 IN EACH OF THE FIVE PREVIOUS FISCAL YEARS.
   D. THE CERTIFIED INDEPENDENT PUBLIC  ACCOUNTING  FIRM  PERFORMING  THE
 AUTHORITY'S  AUDIT  SHALL  BE  PROHIBITED  FROM PERFORMING ANY NON-AUDIT
 SERVICES TO SUCH AUTHORITY  CONTEMPORANEOUSLY  WITH  THE  AUDIT,  UNLESS
 RECEIVING  PREVIOUS  WRITTEN  APPROVAL BY THE BOARD INCLUDING: (1) BOOK-
 KEEPING OR OTHER SERVICES RELATED TO THE ACCOUNTING RECORDS OR FINANCIAL
 STATEMENTS OF SUCH AUTHORITY; (2) FINANCIAL INFORMATION  SYSTEMS  DESIGN
 AND  IMPLEMENTATION; (3) APPRAISAL OR VALUATION SERVICES, FAIRNESS OPIN-
 IONS, OR  CONTRIBUTION-IN-KIND  REPORTS;  (4)  ACTUARIAL  SERVICES;  (5)
 INTERNAL  AUDIT  OUTSOURCING SERVICES; (6) MANAGEMENT FUNCTIONS OR HUMAN
 SERVICES; (7) BROKER OR DEALER, INVESTMENT ADVISOR, OR INVESTMENT  BANK-
 ING SERVICES; AND (8) EXPERT SERVICES UNRELATED TO THE AUDIT.
   E.  IT  SHALL  BE  PROHIBITED  FOR  ANY  CERTIFIED  INDEPENDENT PUBLIC
 ACCOUNTING FIRM TO PERFORM FOR THE AUTHORITY ANY AUDIT  SERVICE  IF  THE
 CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, CHIEF ACCOUNTING OFFI-
 CER,  OR  ANY  OTHER  PERSON  SERVING  IN AN EQUIVALENT POSITION FOR THE
 AUTHORITY, WAS EMPLOYED BY THAT CERTIFIED INDEPENDENT PUBLIC  ACCOUNTING
 FIRM  AND  PARTICIPATED  IN  ANY  CAPACITY IN THE AUDIT OF THE AUTHORITY
 DURING THE ONE YEAR PERIOD PRECEDING THE DATE OF THE INITIATION  OF  THE
 AUDIT.
   F. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE AUTHORITY
 MAY EXEMPT INFORMATION FROM DISCLOSURE OR REPORT, IF THE COUNSEL OF SUCH
 AUTHORITY  DEEMS  THAT SUCH INFORMATION IS COVERED BY ARTICLE SIX OF THE
 PUBLIC OFFICERS LAW.
   13. WHISTLEBLOWER PROTECTION.  A. FOR THE PURPOSES  OF  THIS  SUBDIVI-
 SION:
   (1) "ATTORNEY GENERAL" SHALL MEAN THE ATTORNEY GENERAL OF THE STATE OF
 NEW YORK.

 A. 4785                            10

   (2) "EMPLOYEES" MEANS THOSE PERSONS EMPLOYED AT THE AUTHORITY, INCLUD-
 ING BUT NOT LIMITED TO: FULL-TIME AND PART-TIME EMPLOYEES, THOSE EMPLOY-
 EES ON PROBATION, AND TEMPORARY EMPLOYEES.
   (3)  "INSPECTOR  GENERAL"  SHALL  MEAN  THE  INSPECTOR  GENERAL OF THE
 AUTHORITY APPOINTED PURSUANT TO SUBDIVISION FIFTEEN OF THIS SECTION.
   (4) "WHISTLEBLOWER" SHALL MEAN  ANY  EMPLOYEE  OF  THE  AUTHORITY  WHO
 DISCLOSES INFORMATION CONCERNING ACTS OF WRONGDOING, MISCONDUCT, MALFEA-
 SANCE, OR OTHER INAPPROPRIATE BEHAVIOR BY AN EMPLOYEE OR BOARD MEMBER OF
 THE  AUTHORITY, CONCERNING THE AUTHORITY'S INVESTMENTS, TRAVEL, ACQUISI-
 TION OF REAL OR PERSONAL PROPERTY, THE DISPOSITION OF REAL  OR  PERSONAL
 PROPERTY AND THE PROCUREMENT OF GOODS AND SERVICES.
   B.  THE  BOARD  OF  THE AUTHORITY SHALL ESTABLISH WRITTEN POLICIES AND
 PROCEDURES PROTECTING EMPLOYEES FROM RETALIATION FOR DISCLOSING INFORMA-
 TION CONCERNING ACTS OF WRONGDOING,  MISCONDUCT,  MALFEASANCE  OR  OTHER
 INAPPROPRIATE  BEHAVIOR BY A BOARD MEMBER OR AN EMPLOYEE OF THE AUTHORI-
 TY, INCLUDING BUT NOT LIMITED TO, INVESTMENTS, TRAVEL,  THE  ACQUISITION
 OF  REAL PROPERTY, THE DISPOSITION OF REAL OR PERSONAL PROPERTY, AND THE
 PROCUREMENT OF GOODS AND SERVICES.
   C. THE INSPECTOR GENERAL, AFTER CONSULTATION WITH THE ATTORNEY  GENER-
 AL,  SHALL  DEVELOP  A WHISTLEBLOWER ACCESS AND ASSISTANCE PROGRAM WHICH
 SHALL INCLUDE, BUT NOT BE LIMITED TO:
   (1) EVALUATING AND COMMENTING ON WHISTLEBLOWER PROGRAMS  AND  POLICIES
 BY BOARD;
   (2)  ESTABLISHING TOLL-FREE TELEPHONE AND FACSIMILE LINES AVAILABLE TO
 EMPLOYEES;
   (3) OFFERING ADVICE REGARDING EMPLOYEE RIGHTS UNDER  APPLICABLE  STATE
 AND FEDERAL LAWS AND ADVICE AND OPTIONS AVAILABLE TO ALL PERSONS; AND
   (4) OFFERING AN OPPORTUNITY FOR EMPLOYEES TO IDENTIFY CONCERNS REGARD-
 ING ANY ISSUE AT THE AUTHORITY.
   D.  ANY  COMMUNICATIONS  BETWEEN AN EMPLOYEE AND THE INSPECTOR GENERAL
 PURSUANT TO THIS SUBDIVISION SHALL BE HELD STRICTLY CONFIDENTIAL BY  THE
 INSPECTOR  GENERAL,  UNLESS  THE EMPLOYEE SPECIFICALLY WAIVES IN WRITING
 THE RIGHT TO CONFIDENTIALITY, EXCEPT THAT SUCH CONFIDENTIALITY SHALL NOT
 EXEMPT THE INSPECTOR GENERAL FROM  DISCLOSING  SUCH  INFORMATION,  WHERE
 APPROPRIATE, TO ANY LAW ENFORCEMENT AUTHORITY.
   E. THE AUTHORITY SHALL NOT FIRE, DISCHARGE, DEMOTE, SUSPEND, THREATEN,
 HARASS  OR  DISCRIMINATE  AGAINST  AN EMPLOYEE BECAUSE OF THE EMPLOYEE'S
 ROLE AS A WHISTLEBLOWER, INSOFAR AS THE ACTIONS TAKEN  BY  THE  EMPLOYEE
 ARE LEGAL.
   14. LOBBYING CONTACTS. A. AS USED IN THIS SUBDIVISION:
   (1)  "LOBBYIST" SHALL HAVE THE SAME MEANING AS DEFINED IN THE LEGISLA-
 TIVE LAW.
   (2) "LOBBYING" SHALL MEAN AND INCLUDE, BUT  NOT  BE  LIMITED  TO,  ANY
 ATTEMPT TO INFLUENCE:
   (A)  THE  ADOPTION  OR  REJECTION OF ANY RULE OR REGULATION HAVING THE
 FORCE AND EFFECT OF LAW BY THE AUTHORITY; OR
   (B) ANY DETERMINATION INVOLVING OR RELATING TO ANY CONTRACTS OR AGREE-
 MENTS IN ANY AMOUNT OF THE AUTHORITY, INCLUDING PROCUREMENT CONTRACTS.
   (3) "CONTACT" SHALL MEAN ANY CONVERSATION, IN PERSON OR BY  TELEPHONIC
 OR OTHER REMOTE MEANS, OR CORRESPONDENCE BETWEEN ANY LOBBYIST ENGAGED IN
 THE  ACT OF LOBBYING AND ANY PERSON WITHIN THE AUTHORITY WHO CAN MAKE OR
 INFLUENCE A DECISION ON THE SUBJECT OF THE LOBBYING  ON  BEHALF  OF  THE
 AUTHORITY, AND SHALL INCLUDE, AT A MINIMUM, ALL MEMBERS OF THE BOARD AND
 ALL OFFICERS OF THE AUTHORITY.
   B. THE AUTHORITY SHALL MAINTAIN A RECORD OF ALL LOBBYING CONTACTS MADE
 WITH SUCH AUTHORITY.

 A. 4785                            11
 
   C.  EVERY  BOARD  MEMBER,  OFFICER OR EMPLOYEE OF THE AUTHORITY WHO IS
 CONTACTED BY A LOBBYIST SHALL MAKE  A  CONTEMPORANEOUS  RECORD  OF  SUCH
 CONTACT  CONTAINING THE DAY AND TIME OF THE CONTACT, THE IDENTITY OF THE
 LOBBYIST AND A GENERAL SUMMARY OF THE SUBSTANCE OF THE CONTACT.
   D. THE AUTHORITY SHALL ADOPT A POLICY IMPLEMENTING THE REQUIREMENTS OF
 THIS  SUBDIVISION. SUCH POLICY SHALL APPOINT AN OFFICER TO WHOM ALL SUCH
 RECORDS SHALL BE DELIVERED. SUCH OFFICER SHALL MAINTAIN SUCH RECORDS FOR
 NOT LESS THAN SEVEN YEARS IN A FILING SYSTEM DESIGNED TO  ORGANIZE  SUCH
 RECORDS  IN  A  MANNER  SO  AS  TO MAKE SUCH RECORDS USEFUL TO DETERMINE
 WHETHER THE DECISIONS OF  THE  AUTHORITY  WERE  INFLUENCED  BY  LOBBYING
 CONTACTS.
   15.  OFFICE  OF INSPECTOR GENERAL.  A. ESTABLISHMENT AND ORGANIZATION.
 (1) THERE IS HEREBY ESTABLISHED THE OFFICE OF THE INSPECTOR  GENERAL  IN
 THE AUTHORITY. THE HEAD OF THE OFFICE SHALL BE THE INSPECTOR GENERAL WHO
 SHALL BE APPOINTED BY, AND REPORT TO, THE COMMISSIONER OF THE DEPARTMENT
 OF INVESTIGATION OF THE CITY OF NEW YORK.
   (2)  THE  INSPECTOR GENERAL SHALL HOLD OFFICE AT THE DISCRETION OF THE
 COMMISSIONER AND UNTIL HIS OR HER SUCCESSOR IS APPOINTED AND HAS  QUALI-
 FIED.
   (3)  THE  INSPECTOR  GENERAL MAY APPOINT ONE OR MORE DEPUTY INSPECTORS
 GENERAL TO SERVE AT HIS OR HER PLEASURE, WHO SHALL  BE  RESPONSIBLE  FOR
 CONDUCTING INVESTIGATIONS IN THE AUTHORITY.
   B.  FUNCTIONS AND DUTIES. THE INSPECTOR GENERAL SHALL HAVE THE FOLLOW-
 ING DUTIES AND RESPONSIBILITIES:
   (1) RECEIVE AND INVESTIGATE COMPLAINTS FROM ANY SOURCE, OR UPON HIS OR
 HER OWN INITIATIVE, CONCERNING ALLEGATIONS OF CORRUPTION, FRAUD,  CRIMI-
 NAL ACTIVITY, CONFLICTS OF INTEREST OR ABUSE IN THE AUTHORITY;
   (2)  INFORM THE BOARD AND CHIEF EXECUTIVE DIRECTOR OF SUCH ALLEGATIONS
 AND THE PROGRESS  OF  INVESTIGATIONS  RELATED  THERETO,  UNLESS  SPECIAL
 CIRCUMSTANCES REQUIRE CONFIDENTIALITY;
   (3)  DETERMINE  WITH  RESPECT TO SUCH ALLEGATIONS WHETHER DISCIPLINARY
 ACTION, CIVIL OR CRIMINAL PROSECUTION, OR FURTHER  INVESTIGATION  BY  AN
 APPROPRIATE  FEDERAL,  STATE OR LOCAL AGENCY IS WARRANTED, AND TO ASSIST
 IN SUCH INVESTIGATIONS;
   (4) PREPARE AND RELEASE TO THE PUBLIC WRITTEN REPORTS OF SUCH INVESTI-
 GATIONS, AS APPROPRIATE AND TO THE EXTENT PERMITTED BY LAW,  SUBJECT  TO
 REDACTION  TO  PROTECT  THE CONFIDENTIALITY OF WITNESSES. THE RELEASE OF
 ALL OR PORTIONS OF SUCH REPORTS MAY BE DEFERRED TO PROTECT THE CONFIDEN-
 TIALITY OF ONGOING INVESTIGATIONS;
   (5) REVIEW AND EXAMINE PERIODICALLY THE POLICIES AND PROCEDURES OF THE
 AUTHORITY WITH REGARD TO THE PREVENTION  AND  DETECTION  OF  CORRUPTION,
 FRAUD, CRIMINAL ACTIVITY, CONFLICTS OF INTEREST OR ABUSE;
   (6)  RECOMMEND  REMEDIAL  ACTION  TO  PREVENT OR ELIMINATE CORRUPTION,
 FRAUD, CRIMINAL ACTIVITY, CONFLICTS OF INTEREST OR ABUSE;
   (7) ESTABLISH PROGRAMS FOR TRAINING AUTHORITY OFFICERS  AND  EMPLOYEES
 REGARDING  THE PREVENTION AND ELIMINATION OF CORRUPTION, FRAUD, CRIMINAL
 ACTIVITY, CONFLICTS OF INTEREST OR ABUSE IN COVERED AGENCIES.
   C. POWERS. THE INSPECTOR GENERAL SHALL HAVE THE POWER TO:
   (1) SUBPOENA AND ENFORCE THE ATTENDANCE OF WITNESSES;
   (2) ADMINISTER OATHS OR AFFIRMATIONS AND EXAMINE WITNESSES UNDER OATH;
   (3) REQUIRE THE PRODUCTION OF ANY BOOKS AND PAPERS DEEMED RELEVANT  OR
 MATERIAL TO ANY INVESTIGATION, EXAMINATION OR REVIEW;
   (4)  NOTWITHSTANDING  ANY  LAW  TO  THE  CONTRARY, EXAMINE AND COPY OR
 REMOVE DOCUMENTS OR RECORDS OF ANY KIND PREPARED, MAINTAINED OR HELD  BY
 THE AUTHORITY;

 A. 4785                            12
 
   (5)  REQUIRE  ANY OFFICER OR EMPLOYEE OF THE AUTHORITY TO ANSWER QUES-
 TIONS CONCERNING ANY MATTER RELATED TO THE PERFORMANCE  OF  HIS  OR  HER
 OFFICIAL DUTIES. NO STATEMENT OR OTHER EVIDENCE DERIVED THEREFROM MAY BE
 USED  AGAINST SUCH OFFICER OR EMPLOYEE IN ANY SUBSEQUENT CRIMINAL PROSE-
 CUTION  OTHER  THAN FOR PERJURY OR CONTEMPT ARISING FROM SUCH TESTIMONY.
 THE REFUSAL OF ANY OFFICER OR EMPLOYEE  TO  ANSWER  QUESTIONS  SHALL  BE
 CAUSE  FOR REMOVAL FROM OFFICE OR EMPLOYMENT OR OTHER APPROPRIATE PENAL-
 TY;
   (6) MONITOR THE IMPLEMENTATION BY THE AUTHORITY OF ANY RECOMMENDATIONS
 MADE BY THE INSPECTOR GENERAL;
   (7) PERFORM ANY OTHER FUNCTIONS THAT ARE NECESSARY OR  APPROPRIATE  TO
 FULFILL THE DUTIES AND RESPONSIBILITIES OF OFFICE.
   D. RESPONSIBILITIES OF AUTHORITY OFFICERS AND EMPLOYEES. EVERY OFFICER
 OR  EMPLOYEE  OF  THE  AUTHORITY  SHALL REPORT PROMPTLY TO THE INSPECTOR
 GENERAL ANY INFORMATION CONCERNING CORRUPTION, FRAUD, CRIMINAL ACTIVITY,
 CONFLICTS OF INTEREST OR ABUSE BY ANOTHER AUTHORITY OFFICER OR  EMPLOYEE
 RELATING TO HIS OR HER OFFICE OR EMPLOYMENT, OR BY A PERSON HAVING BUSI-
 NESS DEALINGS WITH THE AUTHORITY RELATING TO THOSE DEALINGS. THE KNOWING
 FAILURE  OF  ANY  OFFICER  OR  EMPLOYEE  TO SO REPORT SHALL BE CAUSE FOR
 REMOVAL FROM OFFICE OR EMPLOYMENT  OR  OTHER  APPROPRIATE  PENALTY.  ANY
 OFFICER  OR  EMPLOYEE WHO ACTS PURSUANT TO THIS SUBDIVISION BY REPORTING
 TO THE INSPECTOR GENERAL  IMPROPER  GOVERNMENTAL  ACTION  SHALL  NOT  BE
 SUBJECT TO DISMISSAL, DISCIPLINE OR OTHER ADVERSE PERSONNEL ACTION.
   16. FINANCIAL DISCLOSURE.  NOTWITHSTANDING ANY OTHER PROVISIONS OF LAW
 TO THE CONTRARY, BOARD MEMBERS, OFFICERS, AND EMPLOYEES OF THE AUTHORITY
 SHALL FILE ANNUAL FINANCIAL DISCLOSURE STATEMENTS AS REQUIRED BY SECTION
 12-110 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   17.  COMPLIANCE  WITH BUILDING CODES.   HOUSING AND OTHER BUILDINGS OR
 STRUCTURES THAT ARE OWNED, CONTROLLED OR OPERATED BY THE AUTHORITY SHALL
 BE MAINTAINED IN ACCORDANCE WITH THE BUILDING CODE OF THE  CITY  OF  NEW
 YORK.  SUCH  CITY SHALL ENFORCE THE BUILDING CODE WITH RESPECT TO BUILD-
 INGS AND STRUCTURES OF THE AUTHORITY PURSUANT TO THE  CITY  CHARTER  AND
 THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   18. TENANT ASSISTANCE. A. FOR THE PURPOSES OF THIS SUBDIVISION:
   (1)  "CCOP"  SHALL  MEAN  THE  CITYWIDE  COUNCIL OF PRESIDENTS, A BODY
 ESTABLISHED BY THE AUTHORITY CONSISTING OF EVERY PRESIDENT OF A RESIDENT
 ASSOCIATION RECOGNIZED BY THE AUTHORITY; AND
   (2) "RAB" SHALL MEAN A RESIDENT ADVISORY BOARD, A BOARD CONSISTING  OF
 AUTHORITY  RESIDENTS,  REQUIRED  TO  BE  ESTABLISHED PURSUANT TO FEDERAL
 RULES AND REGULATIONS.
   B. AT THE BEGINNING OF EVERY CALENDAR YEAR, THE AUTHORITY SHALL INFORM
 THE CCOP EXECUTIVE BOARD REGARDING, AND MAKE AVAILABLE TO SUCH EXECUTIVE
 BOARD, THE AMOUNT OF FEDERAL FUNDS  APPROPRIATED  OR  ALLOCATED  TO,  OR
 OTHERWISE HELD BY, THE AUTHORITY FOR THE PURPOSES OF PROVIDING TECHNICAL
 ASSISTANCE  OR  EDUCATION  TO THE RESIDENTS OR RESIDENT ORGANIZATIONS OF
 THE AUTHORITY.
   C. (1) THE CCOP EXECUTIVE BOARD SHALL EXPEND OR USE SUCH FUNDS TO: (A)
 RETAIN OR EMPLOY HOUSING AND REAL ESTATE  EXPERTS,  SUCH  AS  ATTORNEYS,
 ACCOUNTANTS,  FINANCIAL  ADVISORS,  REAL PROPERTY APPRAISERS, TO PROVIDE
 ADVICE, COUNSEL AND OTHER ASSISTANCE TO AFFECTED RESIDENTS  OR  RESIDENT
 ASSOCIATIONS  OR ORGANIZATIONS ON ANY REAL PROPERTY DEMOLITION OR DISPO-
 SITION PROJECT PLANNED OR PROPOSED BY THE  AUTHORITY;  OR  (B)  FOR  ANY
 OTHER EXPENDITURES AUTHORIZED IN APPLICABLE LAWS, RULES AND REGULATIONS.
   (2) THE CCOP EXECUTIVE BOARD SHALL INFORM EACH RAB OF THE AVAILABILITY
 OF  SUCH  EXPERTS  AND ANY OTHER RESOURCES. AT THE REQUEST OF A RAB, THE
 CCOP EXECUTIVE BOARD SHALL MAKE SUCH EXPERTS AND OTHER RESOURCES  AVAIL-

 A. 4785                            13
 
 ABLE  TO  ANY  RAB  AFFECTED BY A PLANNED OR PROPOSED DISPOSITION BY THE
 AUTHORITY.
   (3)  SUCH  EXPERTS SHALL BE PAID DIRECTLY FROM THE FUNDS APPROPRIATED,
 ALLOCATED OR HELD FOR SUCH PURPOSE, AND SHALL  REPORT  DIRECTLY  TO  THE
 CCOP EXECUTIVE BOARD.
   D.  AT  THE  END  OF THE CALENDAR YEAR, THE CCOP EXECUTIVE BOARD SHALL
 PREPARE AND SUBMIT A REPORT TO THE AUTHORITY  SETTING  FORTH  THE  TOTAL
 AMOUNT  OF  FUNDS  THAT  WERE  EXPENDED  DURING  THE CALENDAR YEAR AND A
 DETAILED ACCOUNT ON HOW SUCH FUNDS WERE EXPENDED.
   19. SOLE SOURCE CONTACTS.   A. THE AUTHORITY  SHALL  NOTIFY  THE  CITY
 COMPTROLLER  OF  THE  CITY OF NEW YORK OF ANY CONTRACTS OR CATEGORIES OF
 CONTRACTS, THE VALUE OF WHICH EXCEEDS ONE  MILLION  DOLLARS,  WHERE  THE
 CONTRACT  OR  CATEGORIES  OF  CONTRACTS IS PROPOSED TO BE AWARDED BY THE
 AUTHORITY TO A SINGLE SOURCE, A SOLE SOURCE OR  PURSUANT  TO  ANY  OTHER
 METHOD  OF  PROCUREMENT  THAT  IS NOT COMPETITIVE.   NOTWITHSTANDING ANY
 PROVISIONS OF LAW TO  THE  CONTRARY,  SUCH  CONTRACT  OR  CATEGORIES  OF
 CONTRACTS  ARE  SUBJECT  TO THE APPROVAL OF SUCH CITY COMPTROLLER.  SUCH
 NOTIFICATION SHALL IDENTIFY THE PROCESS FOR SUBMISSION, THE CONTRACT  OR
 CATEGORIES  OF  CONTRACTS  AT  ISSUE  AND THE TIME PERIOD FOR WHICH SUCH
 SUBMISSION IS TO TAKE PLACE. THE CITY COMPTROLLER SHALL PROMULGATE  SUCH
 RULES  AND  REGULATIONS  AS  MAY  BE  NECESSARY  TO CARRY OUT HIS OR HER
 RESPONSIBILITIES UNDER THIS SUBDIVISION, INCLUDING BUT  NOT  LIMITED  TO
 THE  STANDARDS FOR DETERMINING WHICH CONTRACTS WILL BE SUBJECT TO HIS OR
 HER REVIEW AND FOR APPROVING SUCH CONTRACTS.
   B. WHERE THE CITY COMPTROLLER, PURSUANT TO PARAGRAPH A OF THIS  SUBDI-
 VISION,  HAS  NOTIFIED  THE  AUTHORITY  THAT  A  CONTRACT OR CATEGORY OF
 CONTRACTS IS SUBJECT TO HIS OR HER APPROVAL, IF THE COMPTROLLER HAS  NOT
 APPROVED  OR  DISAPPROVED  ANY  CONTRACT  SUBJECT TO HIS OR HER APPROVAL
 WITHIN NINETY DAYS OF SUBMISSION TO HIS OR  HER  OFFICE,  SUCH  CONTRACT
 SHALL BECOME VALID AND ENFORCEABLE WITHOUT SUCH APPROVAL.
   C.  THIS SUBDIVISION SHALL NOT APPLY TO CONTRACTS ENTERED INTO FOR THE
 PROCUREMENT OF GOODS, SERVICES OR BOTH GOODS AND SERVICES MADE  TO  MEET
 EMERGENCIES ARISING FROM UNFORESEEN CAUSES OR TO EFFECT REPAIRS TO CRIT-
 ICAL  INFRASTRUCTURE THAT ARE NECESSARY TO AVOID A DELAY IN THE DELIVERY
 OF CRITICAL SERVICES THAT COULD COMPROMISE TENANT OR  PUBLIC  SAFETY  OR
 WELFARE.
   § 3. Section 1678 of the public authorities law is amended by adding a
 new subdivision 29 to read as follows:
   29.  TO  ENTER  INTO  A CONSTRUCTION MANAGEMENT AGREEMENT WITH THE NEW
 YORK CITY HOUSING AUTHORITY, PURSUANT TO WHICH ONE  OR  MORE  BUILDINGS,
 FACILITIES  OR  STRUCTURES OWNED, CONTROLLED OR OPERATED BY THE NEW YORK
 CITY HOUSING AUTHORITY LOCATED IN  THE  CITY  OF  NEW  YORK  ARE  TO  BE
 CONSTRUCTED,  RECONSTRUCTED,  REHABILITATED, IMPROVED, MODERNIZED, RENO-
 VATED OR EXPANDED FOR SUCH AUTHORITY.
   § 4. Severability. If any clause, sentence, paragraph, section or part
 of this act shall be adjudged by any court of competent jurisdiction  to
 be  invalid,  the  judgment  shall not affect, impair, or invalidate the
 remainder thereof, but shall be confined in its operation to the clause,
 sentence, paragraph, section or part thereof directly  involved  in  the
 controversy in which the judgment shall have been rendered.
   §  5.  This  act shall take effect on the ninetieth day after it shall
 have become a law, provided, however, that  effective  immediately,  the
 addition,  amendment  and/or  repeal of any rule or regulation necessary
 for the implementation of this act on its effective date  is  authorized
 to be made and completed on or before such date.