S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7805
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 21, 2021
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Housing
 
 AN ACT to amend the public housing law and the  administrative  code  of
   the  city  of  New York, in relation to establishing the New York city
   public housing preservation trust for properties owned or operated  by
   the  New York city housing authority and providing for the issuance of
   certain bonds, notes or other obligations of the New York city housing
   development corporation
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The public housing law is amended by adding a new article
 14 to read as follows:
                                ARTICLE XIV
              NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST
 
 SECTION 600. SHORT TITLE.
         601. LEGISLATIVE FINDINGS.
         602. DEFINITIONS.
         603. NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
         604. POWERS AND DUTIES OF THE TRUST.
         605. TRANSFER OF PROPERTY.
         606. EXEMPTION  FROM  LAND  USE  REVIEW  PROCEDURES  AND   OTHER
                REQUIREMENTS.
         607. RESIDENT PROTECTIONS AND OPPORTUNITIES.
         608. COMPLIANCE WITH CODES.
         609. CONTRACTS OF THE TRUST.
         610. ALTERNATIVE PROJECT DELIVERY CONTRACTS.
         611. ADDITIONAL AUTHORITY.
         612. ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE PROJECT DELIVERY
                CONTRACTS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11275-01-1
              

 A. 7805                             2

         613. BORROWING BY THE TRUST AND  FOR  ITS  BENEFIT;  EFFECTS  OF
                CERTAIN DEFAULTS.
         614. RESOURCES OF THE TRUST.
         615. LEGAL INVESTMENT AND DEPOSIT.
         616. TAX EXEMPTION AND TAX CONTRACT BY THE STATE.
         617. ACTIONS AGAINST THE TRUST.
         618. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP.
         619. COLLECTIVE NEGOTIATION.
         620. APPLICATION OF STATE AND LOCAL HUMAN RIGHTS LAWS.
         621. LIMITED LIABILITY.
         622. AUDIT AND ANNUAL REPORTS.
         623. JURISDICTION OVER TRUST.
         624. EFFECT OF INCONSISTENT PROVISIONS.
         625. SEVERABILITY.

   §  600.  SHORT  TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
 THE "NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST ACT".
   § 601. LEGISLATIVE FINDINGS. THE LEGISLATURE HEREBY FINDS AND DECLARES
 THAT SIGNIFICANT CAPITAL INVESTMENT  IS  REQUIRED  TO  DESIGN,  DEVELOP,
 CONSTRUCT, RECONSTRUCT, IMPROVE, MODERNIZE, REHABILITATE, AND REPAIR THE
 AGING BUILDINGS OWNED OR OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY
 WHICH  ARE  DETERIORATING  DUE TO DECADES OF DIMINISHING CAPITAL INVEST-
 MENT. RESTRICTIONS RELATING TO THE NEW  YORK  CITY  HOUSING  AUTHORITY'S
 CONSTRUCTION  PROCESS,  AND  ITS INABILITY TO UTILIZE INNOVATIVE PROJECT
 DELIVERY METHODS, HAVE EXACERBATED ITS CAPITAL NEEDS. A NEW PUBLIC ENTI-
 TY WITH GREATER FLEXIBILITY TO LEVERAGE CAPITAL INVESTMENT AND TO MANAGE
 THE REHABILITATION OF THESE PROPERTIES MUST BE ESTABLISHED.   REPAIRING,
 MODERNIZING,  AND  IMPROVING  NEW  YORK CITY HOUSING AUTHORITY BUILDINGS
 MUST BEGIN IMMEDIATELY SO THAT HUNDREDS OF THOUSANDS OF NEW YORKERS  CAN
 RESIDE IN AFFORDABLE HOUSING THAT IS DECENT, SAFE, SANITARY, AND IN GOOD
 REPAIR.   ESTABLISHING A NEW PUBLIC ENTITY, AND TRANSFERRING A LEASEHOLD
 INTEREST IN THE BUILDINGS OWNED AND OPERATED BY THE NEW YORK CITY  HOUS-
 ING  AUTHORITY TO THIS NEW ENTITY SO THAT THEY CAN UNDERGO THE NECESSARY
 REHABILITATION, REPAIR AND MODERNIZATION, WILL ENSURE THAT THESE  BUILD-
 INGS  CONTINUE  TO  PROVIDE  AFFORDABLE HOUSING TO RESIDENTS OF NEW YORK
 CITY FOR MANY DECADES INTO THE  FUTURE.  IT  IS  THE  UNDERSTANDING  AND
 INTENTION  OF  THE LEGISLATURE THAT ANY BUILDING TRANSFERRED TO THIS NEW
 PUBLIC ENTITY AND OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY  SHALL
 CONTINUE TO BE SUBJECT TO THE OBLIGATIONS IMPOSED BY MARIBEL BAEZ ET AL.
 V. NEW YORK CITY HOUSING AUTHORITY, NO. 13-CIV-8916.
   § 602. DEFINITIONS. AS USED OR REFERRED TO IN THIS ARTICLE:
   1.  "ALTERNATIVE PROJECT DELIVERY CONTRACT" MEANS ANY PROJECT DELIVERY
 METHOD AUTHORIZED BY THIS ARTICLE, INCLUDING CONSTRUCTION MANAGER BUILD,
 CONSTRUCTION MANAGER AT RISK, AND DESIGN-BUILD, PURSUANT TO WHICH ONE OR
 MORE CONTRACTS FOR THE PROVISION OF DESIGN  OR  CONSTRUCTION  MANAGEMENT
 AND  CONSTRUCTION  SERVICES  ARE AWARDED PURSUANT TO AN OPEN AND COMPET-
 ITIVE METHOD OF PROCUREMENT, AS SPECIFIED IN SECTION SIX HUNDRED TEN  OF
 THIS ARTICLE.
   2. "BEST VALUE" MEANS THE BASIS FOR AWARDING CONTRACTS FOR SERVICES TO
 A  PROPOSER  THAT  OPTIMIZES  QUALITY,  COST  AND  EFFICIENCY, PRICE AND
 PERFORMANCE CRITERIA, WHICH MAY INCLUDE, BUT IS NOT LIMITED TO:
   (A) THE QUALITY OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (B) THE TIMELINESS OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (C) THE LEVEL OF CUSTOMER SATISFACTION WITH THE PROPOSER'S PERFORMANCE
 ON PREVIOUS PROJECTS;

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   (D) THE PROPOSER'S RECORD OF PERFORMING PREVIOUS  PROJECTS  ON  BUDGET
 AND ABILITY TO MINIMIZE COST OVERRUNS;
   (E) THE PROPOSER'S ABILITY TO LIMIT CHANGE ORDERS;
   (F) THE PROPOSER'S ABILITY TO PREPARE APPROPRIATE PROJECT PLANS;
   (G) THE PROPOSER'S TECHNICAL CAPACITIES;
   (H) THE INDIVIDUAL QUALIFICATIONS OF THE PROPOSER'S KEY PERSONNEL;
   (I) THE PROPOSER'S ABILITY TO ASSESS AND MANAGE RISK AND MINIMIZE RISK
 IMPACT;
   (J) THE PROPOSER'S FINANCIAL CAPABILITY;
   (K)  THE  PROPOSER'S  ABILITY  TO COMPLY WITH APPLICABLE REQUIREMENTS,
 INCLUDING THE PROVISIONS OF ARTICLES ONE HUNDRED FORTY-FIVE, ONE HUNDRED
 FORTY-SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW;
   (L) THE PROPOSER'S PAST RECORD OF COMPLIANCE WITH FEDERAL LAWS,  STATE
 AND  LOCAL  LAWS,  RULES,  LICENSING REQUIREMENTS, WHERE APPLICABLE, AND
 EXECUTIVE ORDERS, INCLUDING, BUT NOT LIMITED TO, SECTION  THREE  OF  THE
 HOUSING  AND  URBAN  DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS
 AMENDED, OR ANY SUCCESSOR PROVISION, ARTICLE FIFTEEN-A OF THE  EXECUTIVE
 LAW,  ANY  OTHER  APPLICABLE  LAWS  CONCERNING MINORITY- AND WOMEN-OWNED
 BUSINESS ENTERPRISE PARTICIPATION, THE LABOR LAW, AND ANY OTHER APPLICA-
 BLE LABOR AND PREVAILING WAGE LAWS;
   (M) THE PROPOSER'S RECORD OF COMPLYING WITH EXISTING LABOR  STANDARDS,
 MAINTAINING  HARMONIOUS  LABOR  RELATIONS, AND PROTECTING THE HEALTH AND
 SAFETY OF WORKERS AND PAYMENT OF WAGES ABOVE ANY LOCALLY-DEFINED  LIVING
 WAGE;
   (N)  A  QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS OR OFFERS
 FOR AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT ARE CERTIFIED  AS
 MINORITY  OR  WOMEN  OWNED  BUSINESS  ENTERPRISES  PURSUANT  TO  ARTICLE
 FIFTEEN-A OF THE EXECUTIVE LAW AND CERTIFIED PURSUANT TO  SECTION  THIR-
 TEEN  HUNDRED  FOUR  OF  THE  NEW YORK CITY CHARTER AS MINORITY OR WOMEN
 OWNED BUSINESS ENTERPRISES. WHERE THE TRUST  IDENTIFIES  A  QUANTITATIVE
 FACTOR  PURSUANT  TO  THIS PARAGRAPH, THE TRUST SHALL SPECIFY THAT BUSI-
 NESSES CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS ENTERPRISES  PURSU-
 ANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW AS WELL AS THOSE CERTIFIED
 AS  MINORITY  OR  WOMEN  OWNED  BUSINESS ENTERPRISES PURSUANT TO SECTION
 THIRTEEN HUNDRED FOUR OF THE NEW YORK CITY CHARTER ARE ELIGIBLE TO QUAL-
 IFY FOR SUCH FACTOR. NOTHING IN THIS PARAGRAPH  SHALL  BE  CONSTRUED  TO
 REQUIRE  THAT  SUCH  BUSINESSES BE CONCURRENTLY CERTIFIED AS MINORITY OR
 WOMEN OWNED BUSINESS ENTERPRISES UNDER SUCH ARTICLE AND SUCH SECTION  TO
 QUALIFY FOR SUCH QUANTITATIVE FACTOR; AND
   (O)  A  QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS OR OFFERS
 FOR AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT CONSTITUTE  BUSI-
 NESS  CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR LOW AND VERY LOW-
 INCOME PERSONS. SUCH BASIS SHALL REFLECT, WHEREVER  POSSIBLE,  OBJECTIVE
 AND QUANTIFIABLE ANALYSIS.
   3. "BOARD" MEANS THE BOARD OF TRUSTEES OF THE TRUST.
   4. "CITY" MEANS THE CITY OF NEW YORK.
   5.  "CONSTRUCTION  MANAGER  AT  RISK"  MEANS A PROJECT DELIVERY METHOD
 WHEREBY A CONSTRUCTION MANAGER:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
   (B)  DURING  THE  CONSTRUCTION  PHASE,  ACTS AS GENERAL CONTRACTOR FOR
 AGREED UPON COMPENSATION AS SET FORTH IN  THE  CONSTRUCTION  MANAGER  AT
 RISK AGREEMENT; AND
   (C)  ASSUMES THE RISK OF CONSTRUCTION COSTS EXCEEDING AN AMOUNT SPECI-
 FIED IN THE CONSTRUCTION MANAGER AT RISK AGREEMENT.

 A. 7805                             4

   6. "CONSTRUCTION MANAGER BUILD" MEANS A PROJECT DELIVERY METHOD WHERE-
 BY A CONSTRUCTION MANAGER:
   (A)  SERVES  AS  PART  OF  A TEAM IN CONJUNCTION WITH THE OWNER IN THE
 DESIGN PHASE OF THE PROJECT;
   (B) UNDER THE OVERSIGHT OF THE OWNER ACTS  AS  THE  SINGLE  SOURCE  OF
 RESPONSIBILITY  TO BID, SELECT AND HOLD CONSTRUCTION CONTRACTS ON BEHALF
 OF THE OWNER DURING THE CONSTRUCTION PHASE; AND
   (C) MANAGES THE CONSTRUCTION PROJECT ON BEHALF OF THE OWNER.
   7. "COST PLUS"  MEANS  COMPENSATING  A  CONTRACTOR  FOR  THE  COST  TO
 COMPLETE A CONTRACT BY REIMBURSING ACTUAL COSTS FOR LABOR, EQUIPMENT AND
 MATERIALS PLUS AN ADDITIONAL AMOUNT FOR OVERHEAD AND PROFIT.
   8.  "DESIGN-BUILD"  MEANS A PROJECT DELIVERY METHOD FOR THE DESIGN AND
 CONSTRUCTION OF A PROJECT WITH A SINGLE ENTITY,  WHICH  MAY  BE  A  TEAM
 COMPRISED OF SEPARATE ENTITIES.
   9. "GROUND LEASE" MEANS THE WRITTEN INSTRUMENT PURSUANT TO WHICH NYCHA
 TRANSFERS  TO THE TRUST ITS LEASEHOLD INTEREST IN ITS HOUSING FACILITIES
 AND ANCILLARY PERSONAL PROPERTY.
   10. "HOUSING FACILITIES" MEANS THE LAND AND BUILDINGS THEREON OWNED OR
 OPERATED BY NYCHA AND THE IMPROVEMENTS MADE TO SUCH LAND  AND  BUILDINGS
 FOR USE IN CONNECTION WITH DEVELOPMENT OR OPERATION OF DWELLING ACCOMMO-
 DATIONS FOR LOW-INCOME FAMILIES.
   11. "LOW-INCOME FAMILIES" MEANS LOW-, VERY LOW-, AND EXTREMELY LOW-IN-
 COME  FAMILIES  AS DEFINED IN PARAGRAPH TWO OF SUBSECTION (B) OF SECTION
 1437A OF TITLE FORTY-TWO OF THE UNITED  STATES  CODE  OR  ANY  SUCCESSOR
 PROVISION.
   12. "MAYOR" MEANS THE MAYOR OF THE CITY OF NEW YORK.
   13. "NYCHA" MEANS THE NEW YORK CITY HOUSING AUTHORITY.
   14.  "NYCHA  BOARD"  MEANS  THE MEMBERS OF NYCHA APPOINTED PURSUANT TO
 SUBDIVISION THREE OF SECTION FOUR HUNDRED TWO OF THIS CHAPTER.
   15. "NYCHA CEO" MEANS THE CHIEF EXECUTIVE OFFICER OF NYCHA WHO  SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   16.  "NYCHA CFO" MEANS THE CHIEF FINANCIAL OFFICER OF NYCHA WHO SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   17. "OTHER RESIDENTS" MEANS RESIDENTS WHO ARE:
   (A) RESIDENTS OF A HOUSING FACILITY ON THE DATE NYCHA  TRANSFERS  SUCH
 FACILITY  TO  THE  TRUST  BUT ARE NOT LOW-INCOME FAMILIES, AS DEFINED IN
 THIS SECTION, ON THE DATE OF SUCH TRANSFER;
   (B) LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, AND RESIDENTS  OF
 A  HOUSING  FACILITY  ON  THE  DATE NYCHA TRANSFERS SUCH FACILITY TO THE
 TRUST BUT WHO, SUBSEQUENT TO SUCH TRANSFER AND DURING THE COURSE OF  THE
 TENANCIES OF SUCH RESIDENTS, NO LONGER SATISFY THE DEFINITION OF LOW-IN-
 COME FAMILIES; OR
   (C) LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, UPON COMMENCEMENT
 OF  THEIR TENANCIES IN A HOUSING FACILITY OPERATED BY THE TRUST BUT WHO,
 DURING THE COURSE OF THE TENANCIES OF SUCH RESIDENTS, DO NOT SATISFY THE
 DEFINITION OF LOW-INCOME FAMILIES.
   18. "PROJECT LABOR AGREEMENT" SHALL HAVE THE SAME MEANING AS DESCRIBED
 IN SUBDIVISION ONE OF SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW. A
 PROJECT LABOR AGREEMENT SHALL REQUIRE PARTICIPATION IN APPRENTICE TRAIN-
 ING PROGRAMS IN ACCORDANCE WITH PARAGRAPH  (E)  OF  SUBDIVISION  TWO  OF
 SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW.
   19.  "RESIDENT"  MEANS A NATURAL PERSON WHOSE LAWFUL PRIMARY RESIDENCE
 IS A DWELLING UNIT IN A HOUSING FACILITY.
   20. "TRUST" MEANS THE NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
   § 603. NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.  1.  THERE  IS
 HEREBY  ESTABLISHED A PUBLIC BENEFIT CORPORATION TO BE KNOWN AS THE "NEW

 A. 7805                             5
 
 YORK CITY PUBLIC HOUSING PRESERVATION TRUST". THE PURPOSE OF SUCH  TRUST
 SHALL BE THE DESIGN, DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION, IMPROVE-
 MENT,  MODERNIZATION, REHABILITATION, REPAIRING AND OPERATION OF HOUSING
 FACILITIES.
   2. THE TRUST SHALL BE GOVERNED BY AND ITS POWERS SHALL BE EXERCISED BY
 A BOARD OF TRUSTEES CONSISTING OF NINE MEMBERS. THE MEMBERS SHALL BE THE
 NYCHA  CEO,  THE  NYCHA  CFO,  THE DEPUTY MAYOR FOR HOUSING AND ECONOMIC
 DEVELOPMENT OF THE CITY OF NEW YORK, OR ANOTHER DEPUTY MAYOR  DESIGNATED
 BY  THE  MAYOR  IF THERE IS NO DEPUTY MAYOR WITH THAT DESIGNATION, THREE
 MEMBERS APPOINTED BY THE NYCHA CEO, INCLUDING TWO HOUSING FACILITY RESI-
 DENT MEMBERS AND ONE MEMBER AT LARGE, PROVIDED  THAT  ONE  SUCH  HOUSING
 FACILITY RESIDENT MEMBER SHALL BE SELECTED FROM TWO CANDIDATES NOMINATED
 BY  THE  RECOGNIZED  CITYWIDE  COUNCIL  OF  PRESIDENTS, OR AN EQUIVALENT
 SUCCESSOR BODY, AND ONE SUCH HOUSING FACILITY RESIDENT MEMBER  SHALL  BE
 SELECTED  FROM  TWO CANDIDATES NOMINATED BY THE RESIDENT ADVISORY BOARD,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  THREE  MEMBERS  APPOINTED  BY  THE
 MAYOR,  INCLUDING  TWO  HOUSING FACILITY RESIDENT MEMBERS AND ONE MEMBER
 WHO SHALL REPRESENT EMPLOYEES OF NYCHA, AS APPLICABLE, AND  BE  SELECTED
 FROM TWO CANDIDATES NOMINATED BY ORGANIZATIONS REPRESENTING EMPLOYEES OF
 NYCHA  OR THE TRUST, AS APPLICABLE.  THE NYCHA CEO SHALL BE THE CHAIR OF
 THE TRUST.  THE BOARD OF TRUSTEES OF THE TRUST SHALL APPOINT THE  PRESI-
 DENT  OF  THE TRUST. THE TERM OF EACH MEMBER, OTHER THAN MEMBERS SERVING
 BY VIRTUE OF THEIR POSITIONS, SHALL BE THREE YEARS,  EXCEPT  AT  INITIAL
 APPOINTMENT  WHEN  THE TERMS SHALL BE STAGGERED SO THAT NO MORE THAN TWO
 MEMBERS SHALL HAVE TERMS THAT END IN ANY GIVEN YEAR, PROVIDED  THAT  THE
 TERM  OF  ONLY  ONE MEMBER APPOINTED BY THE MAYOR SHALL END IN ANY GIVEN
 YEAR.
   3. EACH APPOINTED MEMBER SHALL CONTINUE IN OFFICE  UNTIL  A  SUCCESSOR
 HAS  BEEN APPOINTED AND QUALIFIED UNLESS OTHERWISE REMOVED AS FOLLOWS. A
 MEMBER MAY BE REMOVED BY THE NYCHA CEO  OR  MAYOR,  WHICHEVER  APPOINTED
 SUCH MEMBER, UPON THE FILING IN THE OFFICE OF THE TRUST AND SERVING UPON
 THE  MEMBER  THE  REASONS  THEREFOR.    SUCH  DOCUMENT SETTING FORTH THE
 REASONS SHALL BE MADE  AVAILABLE  TO  THE  GENERAL  PUBLIC  WHICH  SHALL
 INCLUDE,  BUT NOT BE LIMITED TO, PUBLISHING SUCH REASONS ON THE WEBSITES
 OF THE TRUST AND NYCHA. IN THE EVENT A VACANCY OCCURS IN THE  OFFICE  OF
 AN  APPOINTED  MEMBER, THE VACANCY SHALL BE FILLED IN THE SAME MANNER AS
 WAS THE ORIGINAL APPOINTMENT OF THE MEMBER WHOSE OFFICE BECAME VACANT.
   4. APPOINTED MEMBERS MAY ENGAGE IN PRIVATE EMPLOYMENT, OR IN A PROFES-
 SION OR BUSINESS, UNLESS OTHERWISE PROHIBITED  BY  LAW,  RULE  OR  REGU-
 LATION, PROVIDED, HOWEVER, THAT NOTWITHSTANDING ANY APPLICABLE PROVISION
 OF  LAW,  THE  MEMBERS  SHALL BE SUBJECT TO THE LIMITATIONS CONTAINED IN
 SECTIONS TWO THOUSAND SIX HUNDRED THREE, TWO THOUSAND SIX HUNDRED  FOUR,
 TWO  THOUSAND  SIX HUNDRED FIVE, AND TWO THOUSAND SIX HUNDRED SIX OF THE
 NEW YORK CITY CHARTER. THE TRUST SHALL BE AN  AGENCY  AND  SUCH  MEMBERS
 SHALL BE PUBLIC SERVANTS FOR THE PURPOSES OF SUCH SECTIONS. IN ADDITION,
 SUCH  MEMBERS SHALL BE SUBJECT TO THE PROVISIONS OF SECTION ONE THOUSAND
 ONE HUNDRED SIXTEEN OF THE NEW YORK  CITY  CHARTER  AND  SHALL  FOR  THE
 PURPOSES  OF  SUCH  SECTION BE CONSIDERED OFFICERS OF THE CITY. FURTHER,
 SUCH MEMBERS, THE PRESIDENT AND CERTAIN CRITICAL EMPLOYEES OF THE  TRUST
 AS  DESIGNATED  BY  THE  BOARD OR THE PRESIDENT, SHALL BE SUBJECT TO THE
 PROVISIONS OF SECTION 12-110 OF THE ADMINISTRATIVE CODE OF THE  CITY  OF
 NEW  YORK PERTAINING TO THE FILING OF ANNUAL DISCLOSURE REPORTS WITH THE
 CITY CONFLICTS OF INTEREST BOARD, AND FOR SUCH PURPOSE, THE  MEMBERS  OF
 THE  BOARD  OF TRUSTEES SHALL BE DEEMED TO BE COMPENSATED MEMBERS OF THE
 TRUST.

 A. 7805                             6
 
   5. THE BOARD SHALL PROVIDE FOR THE HOLDING OF  REGULAR  MEETINGS,  AND
 SUCH  SPECIAL MEETINGS, AT THE CALL OF THE CHAIR OF THE TRUST, AS MAY BE
 NECESSARY.  A MAJORITY OF THE WHOLE NUMBER OF MEMBERS SHALL CONSTITUTE A
 QUORUM FOR THE TRANSACTION OF BUSINESS. THE POWERS OF THE BOARD SHALL BE
 VESTED IN AND EXERCISED BY A MAJORITY OF THE WHOLE NUMBER OF THE MEMBERS
 THEREOF.
   6. MEMBERS OF THE BOARD, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS,  SHALL  RECEIVE  A STIPEND IN THE AMOUNT OF TWO HUNDRED FIFTY
 DOLLARS FOR EVERY FOUR HOURS OF WORK PERFORMED FOR  THE  TRUST,  NOT  TO
 EXCEED  ONE  THOUSAND  FIVE  HUNDRED  DOLLARS  PER MONTH.   IN ADDITION,
 MEMBERS SHALL BE  REIMBURSED  FOR  THE  ACTUAL  AND  NECESSARY  EXPENSES
 INCURRED  BY THEM IN THE PERFORMANCE OF THEIR OFFICIAL DUTIES AS MEMBERS
 OF THE BOARD OF TRUSTEES.
   7. THE BOARD SHALL APPOINT A PRESIDENT OF THE TRUST AND DETERMINE  THE
 COMPENSATION  OF THE PRESIDENT. THE PRESIDENT, WHO SHALL NOT BE A MEMBER
 OF THE BOARD, SHALL BE THE CHIEF EXECUTIVE  OFFICER  OF  THE  TRUST  AND
 SHALL  BE RESPONSIBLE FOR THE DISCHARGE OF THE EXECUTIVE AND ADMINISTRA-
 TIVE FUNCTIONS AND POWERS OF THE TRUST, INCLUDING THE POWER  TO  APPOINT
 AND  REMOVE  ALL  OTHER  OFFICERS AND EMPLOYEES OF THE TRUST, TO FIX THE
 COMPENSATION FOR EMPLOYEES  SUBJECT  TO  APPLICABLE  CIVIL  SERVICE  AND
 COLLECTIVE  BARGAINING REQUIREMENTS, AND TO EXERCISE POWERS OF THE BOARD
 THAT MAY BE DELEGATED BY THE BOARD TO THE PRESIDENT. THE  PRESIDENT  MAY
 FURTHER  DELEGATE  POWERS  CONFERRED  BY  THIS ARTICLE, INCLUDING POWERS
 DELEGATED TO THE PRESIDENT BY THE BOARD, TO OFFICERS  AND  EMPLOYEES  OF
 THE  TRUST.  THE PRESIDENT SHALL SERVE AT THE PLEASURE OF THE BOARD. THE
 PRESIDENT MAY DESIGNATE ONE OR MORE DEPUTIES AND DETERMINE  THEIR  RELA-
 TIVE  RANKS  AND  DUTIES.  WHEN  THE POSITION OF PRESIDENT IS VACANT, OR
 WHENEVER BY REASON OF ILLNESS OR FOR  ANY  OTHER  REASON  THE  PRESIDENT
 SHALL  BE  PREVENTED  FROM ATTENDING TO THE DUTIES OF SUCH POSITION, THE
 HIGHEST-RANKING DEPUTY NOT ABSENT OR UNDER DISABILITY SHALL ACT AS PRES-
 IDENT.
   8. THE TRUST SHALL CONTINUE UNTIL TERMINATED BY LAW, PROVIDED,  HOWEV-
 ER,  THAT  NO SUCH LAW SHALL TAKE EFFECT SO LONG AS THE TRUST SHALL HAVE
 BONDS, NOTES OR OTHER OBLIGATIONS OUTSTANDING. UPON TERMINATION  OF  THE
 EXISTENCE OF THE TRUST, ALL OF SUCH TRUST'S RIGHTS, PROPERTY, ASSETS AND
 FUNDS SHALL THEREUPON VEST IN AND BE POSSESSED BY NYCHA.
   9. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, NO OFFICER OR
 EMPLOYEE  OF  THE  STATE,  OR  OF  ANY CIVIL DIVISION THEREOF, OR OF ANY
 PUBLIC CORPORATION, AS DEFINED IN THE GENERAL CONSTRUCTION LAW,  INCLUD-
 ING  NYCHA,  SHALL  BE  DEEMED  TO  HAVE FORFEITED OR SHALL FORFEIT SUCH
 PERSON'S OFFICE OR EMPLOYMENT OR ANY BENEFITS PROVIDED UNDER THE RETIRE-
 MENT AND SOCIAL SECURITY LAW OR UNDER ANY PUBLIC RETIREMENT SYSTEM MAIN-
 TAINED BY THE STATE OR BY THE CIVIL DIVISIONS THEREOF, OR  BY  ANY  SUCH
 PUBLIC  CORPORATION, BY REASON OF SUCH PERSON'S ACCEPTANCE OF MEMBERSHIP
 ON THE BOARD OF THE TRUST OR BY VIRTUE OF SUCH PERSON BEING  AN  OFFICER
 OR EMPLOYEE OF THE TRUST.
   §  604.  POWERS  AND  DUTIES  OF  THE  TRUST. THE TRUST SHALL HAVE THE
 FOLLOWING POWERS AND DUTIES:
   1. TO SUE AND BE SUED;
   2. TO HAVE A SEAL AND ALTER THE SAME AT PLEASURE;
   3. TO MAKE AND, AS NECESSARY, TO AMEND  AND  REPEAL  BY-LAWS  FOR  THE
 TRUST  AND THE MANAGEMENT AND REGULATION OF ITS AFFAIRS NOT INCONSISTENT
 WITH THE PROVISIONS OF THIS ARTICLE;
   4. TO APPOINT THE PRESIDENT OF  THE  TRUST  AND  FIX  THE  PRESIDENT'S
 COMPENSATION, PURSUANT TO SECTION SIX HUNDRED THREE OF THIS ARTICLE, AND
 TO DELEGATE POWERS OF THE BOARD TO THE PRESIDENT;

 A. 7805                             7
 
   5.  TO  ENGAGE  OR  ASSIST  IN  THE DEVELOPMENT, DESIGN, CONSTRUCTION,
 RECONSTRUCTION, IMPROVEMENT, MODERNIZATION,  REHABILITATION,  REPAIRING,
 AND OPERATION OF HOUSING FACILITIES;
   6.  TO ACQUIRE OR TRANSFER REAL AND PERSONAL PROPERTY AND IMPROVEMENTS
 THEREON, OR ANY INTEREST THEREIN, BY ANY METHOD, NECESSARY OR CONVENIENT
 FOR THE EXERCISE OF ITS FUNCTIONS, POWERS AND DUTIES;
   7. TO ENCUMBER RESIDENTIAL PROPERTY AND BUILDINGS HELD  BY  THE  TRUST
 AND  LIMIT  USE  TO  RESIDENTS WHO ARE LOW-INCOME FAMILIES AS DEFINED IN
 SUBDIVISION ELEVEN OF SECTION SIX HUNDRED TWO OF THIS ARTICLE AND  OTHER
 RESIDENTS AS DEFINED IN SUBDIVISION SEVENTEEN OF SECTION SIX HUNDRED TWO
 OF THIS ARTICLE;
   8.  TO  MAKE AND EXECUTE CONTRACTS AND ALL OTHER INSTRUMENTS NECESSARY
 OR CONVENIENT FOR THE EXERCISE OF  ITS  FUNCTIONS,  POWERS  AND  DUTIES,
 INCLUDING PROCUREMENT CONTRACTS CONSISTENT WITH APPLICABLE PROVISIONS OF
 THIS  ARTICLE.  NOTWITHSTANDING  ANY  PROVISION  OF LAW TO THE CONTRARY,
 INCLUDING BUT NOT LIMITED TO ARTICLE EIGHT OF THIS  CHAPTER,  THE  TRUST
 MAY  ENTER INTO CONTRACTS, CONSISTENT WITH APPLICABLE PROVISIONS OF THIS
 ARTICLE, WITH NYCHA OR ON BEHALF OF AND FOR THE BENEFIT OF NYCHA;
   9. TO ENTER INTO AGREEMENTS WITH THE NYCHA OR OTHER ENTITIES  FOR  THE
 PROVISION OF MANAGEMENT, MAINTENANCE AND OTHER SERVICES;
   10. NOTWITHSTANDING THE PROVISIONS OF SECTION TWENTY-FIVE HUNDRED FOUR
 OF  THE  INSURANCE LAW OR ANY OTHER PROVISION OF LAW TO THE CONTRARY, TO
 PROCURE OR CAUSE TO BE PLACED OR PROCURED INSURANCE ON BEHALF OF  ITSELF
 AND  OTHERS  AGAINST ANY LOSS IN CONNECTION WITH ITS ACTIVITIES, PROPER-
 TIES AND OTHER ASSETS, IN SUCH AMOUNTS AND  FROM  SUCH  INSURERS  AS  IT
 DEEMS DESIRABLE;
   11.  TO ENTER INTO AGREEMENTS WITH PUBLIC AGENCIES AND PUBLIC ENTITIES
 FOR THE RECEIPT OF SERVICES;
   12. TO BORROW AND LOAN FUNDS AND ISSUE BONDS,  NOTES  OR  OTHER  OBLI-
 GATIONS CONSISTENT WITH THIS ARTICLE;
   13. TO FORM OR PARTICIPATE AS MEMBERS OR PARTNERS OF PRIVATE ENTITIES,
 WHICH  MAY  INCLUDE BUT ARE NOT LIMITED TO, NOT-FOR-PROFIT CORPORATIONS,
 HOUSING DEVELOPMENT FUND CORPORATIONS, LIMITED  LIABILITY  CORPORATIONS,
 AND  LIMITED  PARTNERSHIPS, TO FURTHER THE PURPOSES AND POWERS GIVEN AND
 GRANTED BY THIS SECTION;
   14. TO EARN FEES AND OTHER PROCEEDS FROM  THE  ACTIVITIES  AND  POWERS
 GIVEN AND GRANTED BY THIS SECTION;
   15.  TO  APPLY  FOR  OR  ACCEPT  FROM  ANY  SOURCE  ANY GIFTS, GRANTS,
 DONATIONS, OR CONVEYANCES OF LAND, MONEY, OTHER REAL OR PERSONAL PROPER-
 TY, OR OTHER ITEMS OF VALUE, OR LOANS OF FUNDS OR PROPERTY OR  FINANCIAL
 OR  OTHER  AID OR CREDIT ASSISTANCE IN ANY FORM, INCLUDING ANY GUARANTY,
 LINE OF CREDIT, OR GRANT, FROM THE FEDERAL GOVERNMENT OR ANY  AGENCY  OR
 INSTRUMENTALITY THEREOF, FROM THE STATE OR ANY AGENCY OR INSTRUMENTALITY
 THEREOF, FROM THE CITY OR ANY AGENCY OR INSTRUMENTALITY THEREOF, OR FROM
 ANY OTHER SOURCE, FOR ANY OR ALL OF THE PURPOSES SPECIFIED IN THIS ARTI-
 CLE,  AND IT MAY COMPLY, SUBJECT TO THE PROVISIONS OF THIS ARTICLE, WITH
 THE TERMS AND CONDITIONS THEREOF;
   16. PRIOR TO THE APPROVAL OF ANY RULE OR REGULATION  AFFECTING  RIGHTS
 AND  PROTECTIONS AFFORDED TO RESIDENTS OF HOUSING FACILITIES, INCLUDING,
 BUT NOT LIMITED TO, RESIDENT PROTECTIONS AND OPPORTUNITIES  PURSUANT  TO
 SECTION SIX HUNDRED SEVEN OF THIS ARTICLE, LEASE REVISIONS, SCHEDULES OF
 SPECIAL CHARGES FOR SERVICES, REPAIRS AND UTILITIES, AND RULES AND REGU-
 LATIONS  TO BE INCORPORATED INTO THE LEASE BY REFERENCE, THE TRUST SHALL
 POST A NOTICE CONTAINING THE PROPOSED RULE OR REGULATION ON THE  WEBSITE
 OF THE TRUST AND IN A PROMINENT LOCATION IN THE AFFECTED HOUSING FACILI-
 TY.  SUCH  NOTICE SHALL INCLUDE (A) A STATEMENT OF THE BASIS AND PURPOSE

 A. 7805                             8
 
 OF THE PROPOSED RULE, (B) THE TIME AND PLACE OF THE MEETING AT WHICH THE
 BOARD WILL PROVIDE RESIDENTS AN OPPORTUNITY TO PROVIDE ORAL  COMMENT  ON
 SUCH  PROPOSED  RULE,  PROVIDED  THAT  A MEETING TO PROVIDE RESIDENTS AN
 OPPORTUNITY  TO  PROVIDE ORAL COMMENT SHALL NOT BE REQUIRED IF SUCH RULE
 IS REQUIRED BY LAW WITH ONLY MINOR, IF ANY, EXERCISE  OF  DISCRETION  BY
 THE  TRUST, OR DOES NOT ADVERSELY AFFECT THE PROTECTIONS AFFORDED TO THE
 RESIDENTS OF THE HOUSING FACILITIES, AND (C) AN  OPPORTUNITY  TO  SUBMIT
 WRITTEN COMMENTS AND THE FINAL DATE FOR RECEIPT OF WRITTEN COMMENTS. THE
 TRUST MAY ADOPT A RULE OR REGULATION AFTER RECEIVING WRITTEN COMMENTS ON
 THE  PROPOSED  RULE  OR REGULATION FOR A PERIOD OF AT LEAST THIRTY DAYS.
 THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED IN SUCH PERIOD  PRIOR  TO
 ADOPTING SUCH RULE OR REGULATION. IN THE EVENT THE TRUST DETERMINES THAT
 IMMEDIATE  ADOPTION OF ANY RULE OR REGULATION IS NECESSARY FOR THE PRES-
 ERVATION OF HEALTH, SAFETY OR GENERAL WELFARE AND THAT  COMPLIANCE  WITH
 THE  FOREGOING REQUIREMENTS OF THIS SUBDIVISION WOULD BE CONTRARY TO THE
 PUBLIC INTEREST, SUCH PROPOSED ITEM  MAY  BE  ADOPTED  ON  AN  EMERGENCY
 BASIS.  THE  TRUST SHALL PROVIDE WRITTEN JUSTIFICATION FOR SUCH DETERMI-
 NATION AND MAKE SUCH JUSTIFICATION PUBLICLY AVAILABLE INCLUDING VIA  ITS
 WEBSITE  AND  IN  A PROMINENT LOCATION IN THE AFFECTED HOUSING FACILITY.
 ANY SUCH IMMEDIATE ADOPTION SHALL ONLY REMAIN IN EFFECT FOR SIXTY  DAYS,
 AND  DURING  SUCH  TIME  THE TRUST SHALL COMPLY WITH THE REQUIREMENTS OF
 THIS SUBDIVISION IN ORDER FOR THE ADOPTION OF THE RULE OR REGULATION  TO
 BECOME PERMANENT; AND
   17.  TO DO ANY AND ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT AND
 EXERCISE THE POWERS GIVEN AND GRANTED BY THIS ARTICLE.
   § 605. TRANSFER OF PROPERTY. 1. NYCHA, ACTING BY  NYCHA  BOARD  RESOL-
 UTION  AND  IN ACCORDANCE WITH A DISPOSITION OR SIMILAR PLAN APPROVED BY
 THE UNITED STATES DEPARTMENT OF HOUSING  AND  URBAN  DEVELOPMENT,  WHICH
 SHALL  INCLUDE  A LETTER OF APPROVAL FROM THE MAYOR OR A DESIGNEE OF THE
 MAYOR, MAY TRANSFER TO THE TRUST,  WITH  OR  WITHOUT  CONSIDERATION  AND
 WITHOUT  ANY  FURTHER AUTHORIZATION, A LEASEHOLD INTEREST IN ITS HOUSING
 FACILITIES AND ANY ANCILLARY PERSONAL PROPERTY OF SUCH  FACILITIES.  THE
 AGGREGATE  NUMBER OF RESIDENTIAL UNITS TRANSFERRED TO THE TRUST PURSUANT
 TO THIS SECTION SHALL NOT EXCEED  TWENTY-FIVE  THOUSAND.  ON  AN  ANNUAL
 BASIS, THE TRUST SHALL REVIEW SUCH LIMIT AND, IF IT DETERMINES THAT SUCH
 LIMIT  SHOULD  BE  INCREASED,  MAKE  RECOMMENDATIONS  TO THE LEGISLATURE
 REGARDING ANY SUCH INCREASE.
   2. THE TRUST SHALL NOT TRANSFER, CONVEY, ASSIGN, MORTGAGE,  PLEDGE  OR
 OTHERWISE  ENCUMBER  ANY  INTEREST IN, OR PERMIT OR SUFFER ANY TRANSFER,
 CONVEYANCE, ASSIGNMENT, MORTGAGE, PLEDGE OR  OTHER  ENCUMBRANCE  OF  ANY
 INTEREST  IN  ANY  HOUSING FACILITIES, OR ANY PART THEREOF WITHOUT PRIOR
 WRITTEN CONSENT OF NYCHA.
   3. THE TRUST SHALL ENSURE THAT ANY HOUSING FACILITIES  TRANSFERRED  TO
 THE  TRUST  PURSUANT TO THIS SECTION AND ANY PORTIONS THEREOF ARE LEASED
 IN ACCORDANCE WITH UNITED STATES DEPARTMENT OF HOUSING AND URBAN  DEVEL-
 OPMENT  ELIGIBILITY  AND  INCOME-TARGETING  REQUIREMENTS,  TO THE EXTENT
 APPLICABLE TO THE UNITS THEREIN. RENTS FOR SUCH UNITS SHALL  NOT  EXCEED
 APPLICABLE PROGRAM REQUIREMENTS FOR THE PROVISION OF HOUSING FOR LOW-IN-
 COME FAMILIES AS ESTABLISHED PURSUANT TO FEDERAL LAW AND REGULATIONS.
   4. PRIOR TO THE TRANSFER OF ANY HOUSING FACILITY, OR ANY PART THEREOF,
 NYCHA  AND  THE TRUST SHALL EACH POST A NOTICE OF SUCH PROPOSED TRANSFER
 ON THE RESPECTIVE WEBSITE OF NYCHA AND THE  TRUST  AND  IN  A  PROMINENT
 LOCATION OF THE AFFECTED HOUSING FACILITY. SUCH NOTICE SHALL INCLUDE:
   (A) A SUMMARY DESCRIPTION OF THE PROPOSED TRANSFER;

 A. 7805                             9
 
   (B)  THE  TIME  AND  PLACE OF TWO PUBLIC MEETINGS AT WHICH NYCHA SHALL
 PROVIDE RESIDENTS OF  SUCH  FACILITY  AN  OPPORTUNITY  TO  PROVIDE  ORAL
 COMMENT ON THE PROPOSED TRANSFER; AND
   (C)  AN  OPPORTUNITY  FOR RESIDENTS TO SUBMIT WRITTEN COMMENTS AND THE
 FINAL DATE FOR SUBMISSION OF SUCH COMMENTS. NYCHA AND  THE  TRUST  SHALL
 CONSIDER  ALL  COMMENTS  RECEIVED  IN  SUCH PERIOD PRIOR TO COMPLETING A
 TRANSFER PURSUANT TO THIS SUBDIVISION.
   § 606. EXEMPTION FROM LAND USE REVIEW PROCEDURES  AND  OTHER  REQUIRE-
 MENTS.  1.  EXCEPT  FOR  THE PROVISIONS OF ARTICLE EIGHT OF THE ENVIRON-
 MENTAL CONSERVATION LAW AND ARTICLE FOURTEEN OF  THE  PARKS,  RECREATION
 AND  HISTORIC  PRESERVATION LAW, NEITHER (A) THE ESTABLISHMENT OR AMEND-
 MENT OF A HOUSING FACILITY'S DISPOSITION OR  SIMILAR  PLAN  PURSUANT  TO
 AGREEMENT  WITH THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVEL-
 OPMENT AND ACTIONS RELATING TO THE FINANCING THEREOF, (B) THE  SELECTION
 OF  SITES FOR PROJECTS, (C) ANY CONVEYANCE OR OTHER GRANT OF PROPERTY OR
 OF ANY INTEREST THEREIN BY NYCHA OR ANY OTHER PERSON, FIRM OR  ORGANIZA-
 TION  TO  THE  TRUST,  (D)  THE  DEVELOPMENT OF HOUSING FACILITIES BY OR
 THROUGH THE TRUST, INCLUDING ANY CONTRACTS, APPROVALS, CONSENTS,  AGREE-
 MENTS,  PERMITS  OR AUTHORIZATIONS NECESSARY TO ACCOMPLISH THE SAME, AND
 (E) THE RECONVEYANCE OR TRANSFER OF PROPERTY  TO  NYCHA  BY  THE  TRUST,
 SHALL BE SUBJECT TO THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL LAW,
 CITY  CHARTER,  ADMINISTRATIVE  CODE,  ORDINANCE OR RESOLUTION GOVERNING
 UNIFORM LAND USE REVIEW PROCEDURES, ANY OTHER LAND USE  PLANNING  REVIEW
 AND  APPROVALS, HISTORIC PRESERVATION PROCEDURES, ARCHITECTURAL REVIEWS,
 FRANCHISE APPROVALS AND OTHER STATE OR LOCAL REVIEW AND APPROVAL  PROCE-
 DURES  GOVERNING THE USE OF LAND AND THE IMPROVEMENTS THEREON WITHIN THE
 CITY. CAPITAL PROJECTS FOR HOUSING FACILITIES TO  BE  UNDERTAKEN  BY  OR
 THROUGH THE TRUST SHALL NOT BE SUBJECT TO THE PROVISIONS OF THE NEW YORK
 CITY CHARTER RELATING TO SITE SELECTION, LAND USE REVIEW PROCEDURES, ART
 COMMISSION REVIEW PROCEDURES, GENERAL STANDARDS AND COST LIMITS, PROJECT
 SCOPE  AND  DESIGN  PROCEDURES,  OR CONTRACT REGISTRATION AND VOUCHERING
 PROCEDURES.
   2. THE TRUST SHALL BE SUBJECT TO ZONING REGULATIONS TO THE SAME EXTENT
 THAT NYCHA IS SUBJECT TO SUCH REGULATIONS.
   § 607. RESIDENT PROTECTIONS  AND  OPPORTUNITIES.  1.  THE  PROTECTIONS
 AFFORDED  TO  A  RESIDENT OF A HOUSING FACILITY SHALL BE CONSISTENT WITH
 THOSE AFFORDED TO A PUBLIC HOUSING RESIDENT, TO THE EXTENT PERMITTED  IN
 ACCORDANCE WITH FEDERAL LAW, AND SUBJECT TO AND WITH THE APPROVAL OF THE
 UNITED  STATES  DEPARTMENT  OF  HOUSING  AND  URBAN  DEVELOPMENT.  THESE
 PROTECTIONS SHALL INCLUDE, BUT ARE NOT LIMITED TO:
   (A) PRESERVING THE AFFORDABLE CHARACTER OF SUCH  HOUSING  FACILITY  IN
 ACCORDANCE  WITH SECTION EIGHT OF THE UNITED STATES HOUSING ACT OF NINE-
 TEEN HUNDRED THIRTY-SEVEN, AS AMENDED, OR ANY SUCCESSOR PROVISION;
   (B) ENSURING THAT ANY RESIDENT REQUIRED TO  RELOCATE  TEMPORARILY  FOR
 PURPOSES  OF REHABILITATION OR REDEVELOPMENT OF SUCH HOUSING FACILITY IS
 ABLE TO RETURN TO SUCH HOUSING FACILITY FOLLOWING THE COMPLETION OF SUCH
 REHABILITATION OR REDEVELOPMENT, AND THAT  THE  RELOCATION  EXPENSES  OF
 SUCH  TEMPORARY RELOCATION BE PAID FOR BY THE TRUST OR NYCHA AS REQUIRED
 BY APPLICABLE FEDERAL LAW;
   (C) PROVIDING A RESIDENT OF SUCH HOUSING FACILITY THE  OPPORTUNITY  TO
 ESTABLISH  AND  OPERATE A COUNCIL TO REPRESENT RESIDENTS IN SUCH HOUSING
 FACILITY TO ADDRESS CONCERNS RELATING TO SUCH FACILITY AND TO BE  ELIGI-
 BLE  FOR  RESIDENT  PARTICIPATION FUNDING FROM THE TRUST CONSISTENT WITH
 FUNDING AVAILABLE TO RESIDENTS OF PUBLIC  HOUSING  PURSUANT  TO  SECTION
 964.150  OF  TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS OR ANY
 SUCCESSOR REGULATION, PROVIDED THAT ANY RESIDENT COUNCIL  THAT,  AT  THE

 A. 7805                            10
 
 TIME OF THE TRANSFER OF A HOUSING FACILITY TO THE TRUST, IS CERTIFIED BY
 NYCHA  AS  THE  RESIDENT COUNCIL SHALL BE RECOGNIZED BY THE TRUST AS THE
 RESIDENT COUNCIL OF SUCH HOUSING FACILITY;
   (D)  PROVIDING  A RESIDENT OF A HOUSING FACILITY AN OPPORTUNITY FOR AN
 INFORMAL HEARING TO GRIEVE ANY DISPUTE THAT SUCH RESIDENT MAY HAVE  WITH
 RESPECT  TO AN ACTION OF THE TRUST WITH REGARD TO SUCH RESIDENT'S LEASE,
 CONSISTENT WITH THE OBLIGATION OF A PUBLIC HOUSING  AGENCY  PURSUANT  TO
 PARAGRAPH EIGHT OF SUBDIVISION (E) OF SECTION 966.4 OF TITLE TWENTY-FOUR
 OF THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATION;
   (E)  PROVIDING  A  RESIDENT OF A HOUSING FACILITY AUTOMATIC RENEWAL OF
 SUCH RESIDENT'S LEASES, EXCEPT FOR GOOD CAUSE AS SPECIFIED IN THE  LEASE
 BETWEEN  SUCH  RESIDENT  AND THE TRUST, CONSISTENT WITH THE REQUIREMENTS
 RELATING TO A LEASE BETWEEN A PUBLIC HOUSING AGENCY AND A  TENANT  OF  A
 DWELLING  UNIT PURSUANT TO SUBPARAGRAPH (I) OF PARAGRAPH TWO OF SUBDIVI-
 SION (A) AND SUBDIVISION (L) OF SECTION 966.4 OF  TITLE  TWENTY-FOUR  OF
 THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATION;
   (F) DETERMINING SUCCESSION TO A LEASE BETWEEN A RESIDENT AND THE TRUST
 IN  ACCORDANCE  WITH  THE  SUCCESSION POLICY DESCRIBED IN THE MANAGEMENT
 MANUAL, AND ANY AMENDMENTS TO SUCH MANUAL, OF NYCHA;
   (G) PERMITTING A RESIDENT WHOSE TOTAL TENANT PAYMENT,  AS  DEFINED  IN
 SECTION  983.3  OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS,
 OR ANY SUCCESSOR REGULATIONS, WOULD EQUAL OR EXCEED THE RENT  TO  OWNER,
 AS  DEFINED IN SECTION 983.3 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS OR ANY SUCCESSOR REGULATIONS, TO REMAIN IN A HOUSING FACILI-
 TY AND PAY RENT IN AN AMOUNT TO BE DETERMINED BY THE TRUST AND NYCHA AND
 AS SET FORTH IN THE LEASE OF SUCH RESIDENT; AND
   (H) DETERMINING SUCCESSION TO A VOUCHER PURSUANT TO SECTION  EIGHT  OF
 THE  UNITED  STATES  HOUSING  ACT  OF  NINETEEN HUNDRED THIRTY-SEVEN, AS
 AMENDED, OR ANY SUCCESSOR PROVISION,  IN  ACCORDANCE  WITH  THE  HOUSING
 VOUCHER PROGRAM ADMINISTRATIVE PLAN, AND ANY AMENDMENTS TO SUCH PLAN, OF
 NYCHA.
   2.  THE  RESIDENT  PROTECTIONS  DESCRIBED  IN  SUBDIVISION ONE OF THIS
 SECTION SHALL BE ENUMERATED IN THE GROUND  LEASE  OR  OTHER  APPROPRIATE
 AGREEMENT BETWEEN NYCHA AND THE TRUST AND SHALL BE FURTHER ENUMERATED IN
 WRITING  BETWEEN  THE  TRUST  AND  EACH  RESIDENT OF A HOUSING FACILITY.
 NOTHING IN THIS SECTION SHALL PRECLUDE THE TRUST OR NYCHA FROM PROVIDING
 ADDITIONAL RESIDENT PROTECTIONS, WHICH MAY BE  ENUMERATED  IN  ANY  SUCH
 GROUND LEASE OR AGREEMENT.
   3.  THE  TRUST,  TO  THE GREATEST EXTENT FEASIBLE, AND CONSISTENT WITH
 FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, SHALL ENSURE THAT EMPLOY-
 MENT AND OTHER ECONOMIC OPPORTUNITIES BE DIRECTED TO  RESIDENTS  OF  THE
 HOUSING  FACILITIES,  CONSISTENT  WITH  SECTION THREE OF THE HOUSING AND
 URBAN DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS  AMENDED,  AND
 PART  SEVENTY-FIVE  OF  TITLE  TWENTY-FOUR  OF THE CODE OF FEDERAL REGU-
 LATIONS OR ANY SUCCESSOR LAW OR REGULATION.
   4. THE TRUST SHALL ACT IN ACCORDANCE WITH  THE  FULL  REQUIREMENTS  OF
 PART NINE HUNDRED SIXTY-FOUR OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS  OR  ANY  SUCCESSOR REGULATION. THE TRUST SHALL, AMONG OTHER
 REQUIREMENTS, SUPPORT RESIDENT PARTICIPATION IN THE  OPERATIONS  OF  THE
 HOUSING  FACILITIES  AND  NEGOTIATE, WITH ANY RESIDENT MANAGEMENT CORPO-
 RATIONS, OR EQUIVALENT THAT SATISFIES THE REQUIREMENTS OF SUCH PART, FOR
 OPERATION OF A HOUSING FACILITY.
   § 608. COMPLIANCE WITH CODES.   1. THE TRUST  SHALL,  IN  THE  DESIGN,
 DEVELOPMENT,  CONSTRUCTION,  RECONSTRUCTION, IMPROVEMENT, MODERNIZATION,
 REHABILITATION, REPAIR, AND OPERATION  OF  OR  OTHERWISE  PROVIDING  FOR

 A. 7805                            11
 
 HOUSING  FACILITIES,  COMPLY  AND  CAUSE ALL CONTRACTORS OF THE TRUST TO
 COMPLY WITH APPLICABLE SANITARY AND BUILDING LAWS AND REGULATIONS.
   2. THE TRUST SHALL ADOPT RULES OR REGULATIONS ESTABLISHING SUSTAINABLE
 DESIGN  GUIDELINES  FOR  THE  DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION,
 IMPROVEMENT, MODERNIZATION, REHABILITATION, REPAIR, AND OPERATION OF, OR
 OTHERWISE PROVIDING FOR, HOUSING FACILITIES, WHICH SHALL INCLUDE  CRITE-
 RIA  FOR  BENEFICIAL  ELECTRIFICATION AND RENEWABLE ENERGY PRODUCTION IN
 FURTHERANCE OF THE GOALS OF DECARBONIZED BUILDINGS, USE  OF  SUSTAINABLE
 MATERIALS, AND ENERGY AND WATER EFFICIENCY.
   § 609. CONTRACTS OF THE TRUST. 1. NOTWITHSTANDING ANY PROVISION OF LAW
 TO  THE  CONTRARY,  THE  TRUST  SHALL ESTABLISH AND MAINTAIN PROCUREMENT
 POLICIES THAT SHALL SET FORTH THE METHODS AND PROCEDURES  BY  WHICH  THE
 TRUST  SHALL PROCURE CONTRACTS FOR GOODS AND SERVICES, INCLUDING BUT NOT
 LIMITED  TO  SERVICES  FOR  DESIGN,  DEVELOPMENT,  CONSTRUCTION,  RECON-
 STRUCTION, IMPROVEMENT, MODERNIZATION, REHABILITATION, REPAIR AND OPERA-
 TION,  RELATED  TO  PROPERTY  OWNED  OR LEASED BY THE TRUST, IN A MANNER
 CONSISTENT WITH THE PROVISIONS OF THIS ARTICLE.    SUCH  POLICIES  SHALL
 SPECIFICALLY INCLUDE:
   (A) A COMPETITIVE SEALED BIDDING PROCESS FOR THE AWARD OF CONTRACTS IN
 WHICH  SEALED  BIDS  ARE  PUBLICLY SOLICITED OR SOLICITED FROM A LIST OF
 PREQUALIFIED BIDDERS AND OPENED AND A CONTRACT IS AWARDED TO THE  LOWEST
 RESPONSIVE, RESPONSIBLE BIDDER;
   (B)  PROCESSES  FOR  AWARDING  CONTRACTS  FOR GOODS AND SERVICES USING
 ALTERNATIVES TO COMPETITIVE  SEALED  BIDDING  WHERE  COMPETITIVE  SEALED
 BIDDING  IS NOT PRACTICABLE OR NOT ADVANTAGEOUS, IN WHICH CASE THE TRUST
 SHALL USE THE MOST COMPETITIVE METHOD OF PROCUREMENT THAT IS APPROPRIATE
 UNDER THE CIRCUMSTANCES TO SELECT THE PROPOSER OFFERING THE  BEST  VALUE
 TO THE TRUST;
   (C)  A PROCESS FOR PREQUALIFYING BIDDERS AND PROPOSERS BASED ON CRITE-
 RIA, WHICH MAY INCLUDE AN ENTITY'S EXPERIENCE, PAST PERFORMANCE, ABILITY
 TO UNDERTAKE WORK, FINANCIAL CAPABILITY, RESPONSIBILITY, RELIABILITY AND
 STATUS AS A CERTIFIED MINORITY OR WOMEN OWNED BUSINESS ENTERPRISE PURSU-
 ANT TO ARTICLE FIFTEEN-A  OF  THE  EXECUTIVE  LAW  OR  SECTION  THIRTEEN
 HUNDRED FOUR OF THE NEW YORK CITY CHARTER;
   (D)  REASONABLE  PROCEDURES  TO SECURE THE MEANINGFUL PARTICIPATION OF
 MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES IN THE TRUST'S PROCUREMENT
 PROCESS.  THE TRUST MAY USE THE SAME MEASURES TO  ENHANCE  MINORITY  AND
 WOMEN  OWNED  BUSINESS  ENTERPRISE PARTICIPATION AS ARE AVAILABLE TO THE
 CITY PURSUANT TO APPLICABLE LAW, INCLUDING SECTION 6-129 OF THE ADMINIS-
 TRATIVE CODE OF THE CITY OF NEW YORK;
   (E) PROCESSES FOR AWARDING ALTERNATIVE PROJECT DELIVERY CONTRACTS,  IN
 A  MANNER  CONSISTENT  WITH THE TERMS OF SECTION SIX HUNDRED TEN OF THIS
 ARTICLE;
   (F) PROCEDURES FOR THE  FAIR  AND  EQUITABLE  RESOLUTION  OF  CONTRACT
 DISPUTES,  FOR  APPEALS  OF  RESPONSIVENESS  AND RESPONSIBILITY DETERMI-
 NATIONS BY THE TRUST,  AND  FOR  APPEALS  OF  PREQUALIFICATION  DETERMI-
 NATIONS;
   (G)  A  PROCESS  FOR  MAKING PURCHASES OF CONTRACTS PROCURED BY PUBLIC
 AGENCIES AND PUBLIC ENTITIES; AND
   (H) A MECHANISM FOR PROCUREMENTS WITHOUT A FORMAL COMPETITIVE  PROCESS
 WHERE:
   (1)  THE EXISTENCE OF AN EMERGENCY INVOLVING DANGER TO LIFE, SAFETY OR
 PROPERTY REQUIRES IMMEDIATE ACTION AND CANNOT AWAIT A COMPETITIVE  PROC-
 ESS  FOR  GOODS  OR SERVICES TO BE PURCHASED, INCLUDING, BUT NOT LIMITED
 TO, SERVICES FOR CONSTRUCTION,  RECONSTRUCTION,  REHABILITATION,  ALTER-
 ATION,  RENOVATION, MAINTENANCE OR REPAIRS, WHICH ARE ESSENTIAL TO EFFI-

 A. 7805                            12
 
 CIENT OPERATION OR THE ADEQUATE PROVISION OF SERVICE BY THE TRUST AND AS
 A CONSEQUENCE OF UNFORESEEN CIRCUMSTANCE SUCH PURCHASE  CANNOT  AWAIT  A
 COMPETITIVE PROCESS;
   (2)  A  PROCUREMENT'S VALUE DOES NOT EXCEED TWO HUNDRED FIFTY THOUSAND
 DOLLARS;
   (3) THE TRUST RECEIVES NO RESPONSIVE BIDS OR ONLY A SINGLE  RESPONSIVE
 BID IN RESPONSE TO A SOLICITATION FOR COMPETITIVE BIDS OR PROPOSALS;
   (4)  A  PROCUREMENT'S  VALUE  DOES  NOT  EXCEED  FIVE HUNDRED THOUSAND
 DOLLARS AND IS MADE FROM A BUSINESS CERTIFIED AS  A  MINORITY  OR  WOMEN
 OWNED BUSINESS ENTERPRISE PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE
 LAW  AND  SECTION  THIRTEEN  HUNDRED  FOUR OF THE NEW YORK CITY CHARTER.
 NOTHING IN THIS PARAGRAPH SHALL BE CONSTRUED TO REQUIRE THAT SUCH  BUSI-
 NESS  BE  CONCURRENTLY  CERTIFIED  AS  MINORITY  OR WOMEN OWNED BUSINESS
 ENTERPRISES UNDER ARTICLE FIFTEEN-A OF THE  EXECUTIVE  LAW  AND  SECTION
 THIRTEEN  HUNDRED FOUR OF THE NEW YORK CITY CHARTER TO BE AWARDED SUCH A
 CONTRACT;
   (5) A DULY APPOINTED REPRESENTATIVE OF THE TRUST DETERMINES IN WRITING
 THAT, BASED ON A MARKET ANALYSIS, ONLY ONE SOURCE FOR THE REQUIRED GOODS
 OR SERVICES, INCLUDING BUT NOT LIMITED TO,  SERVICES  FOR  CONSTRUCTION,
 RECONSTRUCTION,  REHABILITATION, ALTERATION, RENOVATION, MAINTENANCE AND
 REPAIRS, ARE AVAILABLE; OR
   (6) THE CONTRACT IS A CONTRACT BETWEEN THE TRUST AND  ANOTHER  GOVERN-
 MENTAL ENTITY, INCLUDING, BUT NOT LIMITED TO NYCHA.
   2. CONTRACTS OF THE TRUST SHALL BE SUBJECT TO SECTIONS 6-108 AND 6-123
 OF  THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, AND THE TRUST SHALL
 CONSTITUTE A "CONTRACTING AGENCY" FOR THE PURPOSES OF SECTION  6-123  OF
 THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   3.  THE PROVISIONS OF SECTION ONE HUNDRED SIX-B OF THE GENERAL MUNICI-
 PAL LAW SHALL APPLY TO THE TRUST.
   4. UNLESS A FEDERAL REQUIREMENT CONFLICTS WITH ANY PROCUREMENT  PROCE-
 DURE  SET  FORTH  IN THIS ARTICLE, THE TRUST SHALL BE REQUIRED TO COMPLY
 WITH SUCH PROCEDURE.
   § 610. ALTERNATIVE PROJECT DELIVERY CONTRACTS. 1.  NOTWITHSTANDING ANY
 PROVISION OF LAW TO THE CONTRARY, INCLUDING BUT NOT LIMITED  TO  SECTION
 SEVENTY-TWO HUNDRED TEN OF THE EDUCATION LAW, AND IN CONFORMITY WITH THE
 REQUIREMENTS OF THIS ARTICLE, FOR ANY PUBLIC WORK UNDERTAKEN PURSUANT TO
 A PROJECT LABOR AGREEMENT THE TRUST MAY USE ALTERNATIVE PROJECT DELIVERY
 CONTRACTS.
   (A)  A  CONTRACTOR  SELECTED BY THE TRUST TO ENTER INTO AN ALTERNATIVE
 PROJECT DELIVERY CONTRACT MAY BE SELECTED THROUGH A TWO-STEP METHOD,  AS
 FOLLOWS:
   (1)  THE  FIRST  STEP  SHALL BE THE GENERATION OF A LIST OF RESPONDING
 ENTITIES THAT HAVE DEMONSTRATED THE GENERAL CAPABILITY  TO  PERFORM  THE
 ALTERNATIVE  PROJECT  DELIVERY  CONTRACT.   SUCH LIST SHALL CONSIST OF A
 SPECIFIED NUMBER OF RESPONDING ENTITIES, AS DETERMINED BY THE TRUST, AND
 SHALL BE GENERATED BASED UPON THE  TRUST'S  REVIEW  OF  RESPONSES  TO  A
 PUBLICLY  ADVERTISED REQUEST FOR QUALIFICATIONS. THE TRUST'S REQUEST FOR
 QUALIFICATIONS SHALL INCLUDE A GENERAL DESCRIPTION OF THE  PUBLIC  WORK,
 THE  MAXIMUM  NUMBER OF RESPONDING ENTITIES TO BE INCLUDED ON SUCH LIST,
 THE SELECTION CRITERIA TO BE USED AND THE RELATIVE WEIGHT OF EACH CRITE-
 RIA IN GENERATING SUCH LIST. SUCH SELECTION CRITERIA SHALL  INCLUDE  THE
 QUALIFICATIONS  AND EXPERIENCE OF THE ENTITY OR TEAM OF ENTITIES, ORGAN-
 IZATION, DEMONSTRATED RESPONSIBILITY, ABILITY OF THE ENTITY OR  TEAM  OF
 ENTITIES  OR OF A MEMBER OR MEMBERS OF THE ENTITY OR TEAM OF ENTITIES TO
 COMPLY WITH APPLICABLE REQUIREMENTS, INCLUDING THE PROVISIONS  OF  ARTI-
 CLES  ONE  HUNDRED  FORTY-FIVE,  ONE HUNDRED FORTY-SEVEN AND ONE HUNDRED

 A. 7805                            13
 
 FORTY-EIGHT OF THE EDUCATION LAW, PAST RECORD  OF  COMPLIANCE  WITH  THE
 LABOR  LAW,  AND  SUCH OTHER QUALIFICATIONS THE TRUST DEEMS APPROPRIATE,
 WHICH MAY INCLUDE BUT ARE NOT LIMITED TO PROJECT  UNDERSTANDING,  FINAN-
 CIAL CAPABILITY AND RECORD OF PAST PERFORMANCE. THE TRUST SHALL EVALUATE
 AND  RATE  ALL  RESPONDING  ENTITIES  TO THE REQUEST FOR QUALIFICATIONS.
 BASED UPON SUCH RATINGS, THE TRUST SHALL LIST  THE  RESPONDING  ENTITIES
 THAT  SHALL  RECEIVE A REQUEST FOR PROPOSALS IN ACCORDANCE WITH SUBPARA-
 GRAPH TWO OF THIS PARAGRAPH. TO THE EXTENT  CONSISTENT  WITH  APPLICABLE
 FEDERAL LAW, THE TRUST SHALL CONSIDER, WHEN AWARDING ANY CONTRACT PURSU-
 ANT  TO  THIS SECTION, THE PARTICIPATION OF (I) RESPONDING ENTITIES THAT
 ARE CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT
 TO  ARTICLE  FIFTEEN-A  OF  THE  EXECUTIVE LAW, OR CERTIFIED PURSUANT TO
 LOCAL LAW AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES,  (II)  SMALL
 BUSINESS  CONCERNS IDENTIFIED PURSUANT TO SUBDIVISION (B) OF SECTION ONE
 HUNDRED THIRTY-NINE-G OF THE  STATE  FINANCE  LAW,  AND  (III)  BUSINESS
 CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR LOW AND VERY LOW-INCOME
 PERSONS.  IN ADDITION, NOTHING IN THIS SECTION SHALL BE DEEMED TO SUPER-
 SEDE ANY PREQUALIFICATION POLICIES ADOPTED  BY  THE  TRUST  PURSUANT  TO
 SECTION SIX HUNDRED NINE OF THIS ARTICLE.
   (2)  THE  SECOND  STEP SHALL BE THE SELECTION OF THE PROPOSAL WHICH IS
 THE BEST VALUE TO THE  TRUST.  THE  TRUST  SHALL  ISSUE  A  REQUEST  FOR
 PROPOSALS TO THE RESPONDING ENTITIES LISTED PURSUANT TO SUBPARAGRAPH ONE
 OF  THIS  PARAGRAPH.  IF  SUCH A RESPONDING ENTITY CONSISTS OF A TEAM OF
 SEPARATE ENTITIES, THE ENTITIES THAT COMPRISE SUCH A TEAM  SHALL  REMAIN
 UNCHANGED  FROM THE RESPONDING ENTITY AS LISTED PURSUANT TO SUBPARAGRAPH
 ONE OF THIS PARAGRAPH  UNLESS  OTHERWISE  APPROVED  BY  THE  TRUST.  THE
 REQUEST  FOR  PROPOSALS SHALL SET FORTH THE PUBLIC WORK'S SCOPE OF WORK,
 AND OTHER REQUIREMENTS, AS DETERMINED BY THE TRUST,  WHICH  MAY  INCLUDE
 SEPARATE GOALS FOR WORK UNDER THE CONTRACT TO BE PERFORMED BY BUSINESSES
 CERTIFIED  AS  MINORITY  OR WOMEN OWNED BUSINESS ENTERPRISES PURSUANT TO
 ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW, OR CERTIFIED PURSUANT  TO  LOCAL
 LAW  AS  MINORITY  OR  WOMEN OWNED BUSINESS ENTERPRISES, OR GOALS ESTAB-
 LISHED PURSUANT TO SECTION THREE OF THE HOUSING  AND  URBAN  DEVELOPMENT
 ACT  OF  NINETEEN  HUNDRED  SIXTY-EIGHT,  AS  AMENDED,  OR ANY SUCCESSOR
 PROVISION, IF APPLICABLE. THE REQUEST FOR PROPOSALS SHALL  ALSO  SPECIFY
 THE  CRITERIA  TO  BE  USED  TO  EVALUATE THE RESPONSES AND THE RELATIVE
 WEIGHT OF EACH OF SUCH CRITERIA. SUCH CRITERIA SHALL INCLUDE:  THE QUAL-
 ITY OF THE PROPOSAL'S SOLUTION; THE QUALIFICATIONS AND EXPERIENCE OF THE
 PROPOSER; THE PROPOSAL'S COST, WHICH MAY INCLUDE  FACTORS  THAT  MAY  BE
 CONSIDERED  INDIVIDUALLY  OR IN THE AGGREGATE, SUCH AS THE PROPOSED COST
 OF DESIGN PHASE WORK, THE PROPOSED COST OF CONSTRUCTION PHASE  WORK,  OR
 COST  FACTORS  RELATING  TO  CONSTRUCTION PHASE WORK, AS APPLICABLE; AND
 OTHER FACTORS DEEMED PERTINENT BY THE  TRUST,  WHICH  MAY  INCLUDE,  BUT
 SHALL  NOT  BE LIMITED TO, THE PROPOSAL'S MANNER AND SCHEDULE OF PROJECT
 IMPLEMENTATION, THE PROPOSER'S ABILITY TO COMPLETE THE WORK IN A  TIMELY
 AND SATISFACTORY MANNER, MAINTENANCE COSTS OF THE COMPLETED PUBLIC WORK,
 MAINTENANCE  OF  TRAFFIC  APPROACH, AND COMMUNITY IMPACT.  THE TRUST MAY
 ENGAGE IN NEGOTIATIONS OR OTHER DISCUSSIONS WITH ALL  QUALIFIED  VENDORS
 THAT  HAVE EXPRESSED INTEREST, PROVIDED THAT THE TRUST MAINTAINS A WRIT-
 TEN RECORD OF THE CONDUCT OF NEGOTIATIONS OR DISCUSSIONS AND  THE  BASIS
 FOR EVERY DETERMINATION TO CONTINUE OR SUSPEND NEGOTIATIONS, AND FURTHER
 PROVIDED THAT IF THE TRUST DETERMINES FOR A PARTICULAR CONTRACT OR FOR A
 PARTICULAR  TYPE  OF CONTRACT THAT IT IS IN THE TRUST'S BEST INTEREST TO
 NEGOTIATE OR ENTER INTO DISCUSSIONS WITH FEWER PROPOSERS,  IT  MAY  MAKE
 SUCH  A  DETERMINATION IN WRITING. IF THE TRUST ENTERS INTO SUCH NEGOTI-
 ATIONS, THE TRUST SHALL ALLOW ALL PROPOSERS TO  REVISE  THEIR  PROPOSALS

 A. 7805                            14
 
 UPON CONCLUSION OF NEGOTIATIONS, AND THE TRUST SHALL EVALUATE THE PROPO-
 SERS'  REVISED  PROPOSALS USING THE CRITERIA INCLUDED IN THE REQUEST FOR
 PROPOSALS.   ANY CONTRACT AWARDED PURSUANT  TO  THIS  SECTION  SHALL  BE
 AWARDED  TO  A  RESPONSIVE AND RESPONSIBLE PROPOSER, WHICH, IN CONSIDER-
 ATION OF THESE AND OTHER SPECIFIED CRITERIA DEEMED PERTINENT, OFFERS THE
 BEST VALUE AS DETERMINED BY THE TRUST. THE REQUEST FOR  PROPOSALS  SHALL
 INCLUDE  A  STATEMENT  THAT  PROPOSERS  SHALL DESIGNATE IN WRITING THOSE
 PORTIONS OF THE PROPOSAL THAT CONTAIN TRADE SECRETS OR OTHER PROPRIETARY
 INFORMATION THAT ARE TO REMAIN CONFIDENTIAL, SO THAT THE MATERIAL DESIG-
 NATED AS CONFIDENTIAL SHALL BE  READILY  SEPARABLE  FROM  THE  PROPOSAL.
 NOTHING  IN  THIS  SUBDIVISION  SHALL BE CONSTRUED TO PROHIBIT THE TRUST
 FROM NEGOTIATING FINAL CONTRACT TERMS AND CONDITIONS INCLUDING COST. ALL
 PROPOSALS SUBMITTED SHALL BE SCORED ACCORDING TO THE CRITERIA LISTED  IN
 THE  REQUEST  FOR  PROPOSALS AND SUCH FINAL SCORES SHALL BE PUBLISHED ON
 THE TRUST'S WEBSITE AFTER THE DATE  UPON  WHICH  SUCH  CONTRACT  MAY  BE
 IMPLEMENTED.
   (B) THE TRUST, IN AWARDING AN ALTERNATIVE PROJECT DELIVERY CONTRACT TO
 A  CONTRACTOR  OFFERING  THE  BEST  VALUE MAY USE THE FOLLOWING TYPES OF
 CONTRACTS:
   (1) A COST-PLUS  NOT  TO  EXCEED  GUARANTEED  MAXIMUM  PRICE  FORM  OF
 CONTRACT  IN  WHICH THE TRUST SHALL BE ENTITLED TO MONITOR AND AUDIT ALL
 COSTS. IN ESTABLISHING THE SCHEDULE AND PROCESS FOR DETERMINING A  GUAR-
 ANTEED  MAXIMUM PRICE, THE CONTRACT BETWEEN THE TRUST AND THE CONTRACTOR
 SHALL INCLUDE TERMS SPECIFYING THE PRICE FOR THE  DESIGN  PHASE  OF  THE
 WORK, THE SCOPE OF THE WORK, AND ANY APPLICABLE COST FACTORS RELATING TO
 CONSTRUCTION PHASE WORK THAT WERE INCLUDED IN THE CONTRACTOR'S PROPOSAL.
 A  FAIR  AND  REASONABLE  GUARANTEED  MAXIMUM PRICE FOR THE CONSTRUCTION
 PHASE OF THE  WORK, OR PORTIONS OF THE CONSTRUCTION PHASE OF THE   WORK,
 MAY  BE  AGREED  TO  AS ONE OR MORE AMENDMENTS TO SUCH CONTRACT BASED ON
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT THAT OCCUR AFTER SUCH CONTRACT
 IS EXECUTED.  EACH  GUARANTEED  MAXIMUM  PRICE  AMENDMENT  SHALL:    (I)
 DESCRIBE THE SCOPE OF THE PORTION OF THE CONSTRUCTION PHASE WORK SUBJECT
 TO  THE  AMENDMENT,  THE  COST  OF PERFORMING SUCH WORK, AND THE MAXIMUM
 COSTS OF ANY CONTINGENCIES RELATED TO SUCH WORK, (II) INCLUDE A DETAILED
 LINE ITEM COST BREAKDOWN, (III) INCLUDE A LIST OF ALL DRAWINGS, SPECIFI-
 CATIONS AND OTHER INFORMATION ON WHICH THE GUARANTEED MAXIMUM  PRICE  IS
 BASED,  (IV)  INCLUDE  THE  DATES OF SUBSTANTIAL AND FINAL COMPLETION ON
 WHICH THE GUARANTEED MAXIMUM PRICE IS  BASED,  AS  APPLICABLE,  AND  (V)
 INCLUDE  A  SCHEDULE OF UNIT PRICES.  THE TRUST SHALL MAINTAIN A WRITTEN
 RECORD OF EACH GUARANTEED MAXIMUM PRICE AMENDMENT, WHICH SHALL INCLUDE A
 SUMMARY OF THE NEGOTIATION PROCESS AND A  DESCRIPTION  OF  THE  RELEVANT
 DEVELOPMENTS  IN  THE  DESIGN OF THE PROJECT, INDEPENDENT COST ESTIMATES
 PREPARED BY OR ON BEHALF OF THE TRUST, AS REQUIRED PURSUANT TO A  POLICY
 ESTABLISHED  BY  THE  TRUST,  THE CONTRACTOR'S ACTUAL COST SCHEDULES AND
 UNIT PRICES, AND ANY OTHER FACTORS THAT THE  TRUST  CONSIDERED.  IF  THE
 TRUST  AND  THE  CONTRACTOR CANNOT AGREE UPON A GUARANTEED MAXIMUM PRICE
 FOR ONE OR MORE PORTIONS OF  CONSTRUCTION  PHASE  WORK,  THE  TRUST  MAY
 DIRECT  THE CONTRACTOR TO ASSIGN ALL DUTIES AND RIGHTS UNDER SUCH ALTER-
 NATIVE PROJECT DELIVERY CONTRACT TO ANOTHER RESPONSIVE  AND  RESPONSIBLE
 PROPOSER  PURSUANT TO SUBPARAGRAPH TWO OF PARAGRAPH (A) OF THIS SUBDIVI-
 SION THAT OFFERED THE BEST VALUE OF THE  REMAINING  PROPOSERS  AND  THAT
 WILL  AGREE  TO  ACCEPT  SUCH ASSIGNMENT. THIS SUBPARAGRAPH SHALL NOT BE
 DEEMED TO PROHIBIT THE USE OF ANY CONTRACT TERMS OR PROCEDURES  PURSUANT
 TO  ANY  OTHER PROVISION OF LAW, INCLUDING BUT NOT LIMITED TO PROVISIONS
 INCLUDED IN THIS ARTICLE;

 A. 7805                            15
 
   (2) A LUMP SUM CONTRACT IN WHICH THE CONTRACTOR AGREES TO ACCEPT A SET
 DOLLAR AMOUNT FOR A  CONTRACT  WHICH  COMPRISES  A  SINGLE  BID  WITHOUT
 PROVIDING  A  COST BREAKDOWN FOR ALL COSTS SUCH AS FOR EQUIPMENT, LABOR,
 MATERIALS, AS WELL AS SUCH CONTRACTOR'S PROFIT FOR COMPLETING ALL  ITEMS
 OF WORK COMPRISING THE PUBLIC WORK;
   (3)  INCENTIVE  PAYMENTS  IDENTIFIED  IN  THE TEXT OF THE CONTRACT FOR
 PERFORMANCE OBJECTIVES; OR
   (4) A COMBINATION OF ELEMENTS OF THE CONTRACT TYPES LISTED HEREIN.
   2. ALL ALTERNATIVE PROJECT DELIVERY CONTRACTS ENTERED INTO PURSUANT TO
 THIS SECTION SHALL INCLUDE A  CLAUSE  REQUIRING  THAT  ANY  PROFESSIONAL
 SERVICES  REGULATED  BY  ARTICLES  ONE  HUNDRED  FORTY-FIVE, ONE HUNDRED
 FORTY-SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION  LAW  SHALL  BE
 PERFORMED  AND  STAMPED AND SEALED, WHERE APPROPRIATE, BY A PROFESSIONAL
 LICENSED IN ACCORDANCE WITH THE APPROPRIATE ARTICLE.
   3. THE SUBMISSION OF A PROPOSAL OR RESPONSES OR THE  EXECUTION  OF  AN
 ALTERNATIVE PROJECT DELIVERY CONTRACT PURSUANT TO THIS ARTICLE SHALL NOT
 BE  CONSTRUED  TO  BE  A  VIOLATION OF SECTION SIX THOUSAND FIVE HUNDRED
 TWELVE OF THE EDUCATION LAW.
   4. EACH ALTERNATIVE PROJECT DELIVERY  CONTRACT  ENTERED  INTO  BY  THE
 TRUST  PURSUANT  TO  THIS  ARTICLE  SHALL COMPLY WITH THE OBJECTIVES AND
 GOALS RELATING TO THE PERFORMANCE OF DESIGN AND CONSTRUCTION SERVICES BY
 MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES PURSUANT TO SECTION  6-129
 OF  THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, OR, FOR PROJECTS OR
 PUBLIC WORKS RECEIVING FEDERAL AID, APPLICABLE FEDERAL REQUIREMENTS  FOR
 DISADVANTAGED  BUSINESS ENTERPRISES OR MINORITY AND WOMEN OWNED BUSINESS
 ENTERPRISES AND SECTION THREE OF THE HOUSING AND URBAN  DEVELOPMENT  ACT
 OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED, OR ANY SUCCESSOR PROVISION,
 IF APPLICABLE.
   5.  (A)  NOTWITHSTANDING  ANY  PROVISION  OF  LAW TO THE CONTRARY, ALL
 RIGHTS OR BENEFITS, INCLUDING TERMS AND CONDITIONS  OF  EMPLOYMENT,  AND
 PROTECTION  OF  CIVIL  SERVICE  AND  COLLECTIVE BARGAINING STATUS OF ALL
 EMPLOYEES OF NYCHA AND THE TRUST SOLELY IN CONNECTION WITH THE USE OF AN
 ALTERNATIVE PROJECT DELIVERY CONTRACT PURSUANT TO THIS SECTION SHALL  BE
 PRESERVED AND PROTECTED.
   (B) THE USE OF ALTERNATIVE PROJECT DELIVERY CONTRACTS PURSUANT TO THIS
 SECTION  SHALL  NOT  RESULT  IN  THE  (1)  DISPLACEMENT OF ANY CURRENTLY
 EMPLOYED  WORKER  OF  NYCHA  OR  LOSS  OF  POSITION,  INCLUDING  PARTIAL
 DISPLACEMENT  SUCH  AS  A  REDUCTION  IN THE HOURS OF NON-OVERTIME WORK,
 WAGES OR EMPLOYMENT BENEFITS, OR RESULT IN THE  IMPAIRMENT  OF  EXISTING
 COLLECTIVE  BARGAINING  AGREEMENTS  TO  WHICH  NYCHA  IS A PARTY, OR (2)
 TRANSFER OF EXISTING DUTIES AND FUNCTIONS  RELATED  TO  MAINTENANCE  AND
 OPERATIONS  CURRENTLY  PERFORMED  BY  EXISTING  EMPLOYEES  OF NYCHA TO A
 CONTRACTOR.
   (C) EMPLOYEES OF THE TRUST AND NYCHA SERVING  IN  POSITIONS  IN  NEWLY
 CREATED  TITLES  SHALL  BE  ASSIGNED TO THE APPROPRIATE BARGAINING UNIT.
 NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED TO AFFECT  (1)  THE
 EXISTING RIGHTS OF EMPLOYEES OF NYCHA PURSUANT TO AN EXISTING COLLECTIVE
 BARGAINING  AGREEMENT,  (2)  THE EXISTING REPRESENTATIONAL RELATIONSHIPS
 AMONG EMPLOYEE ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA, OR (3) THE
 BARGAINING RELATIONSHIPS BETWEEN NYCHA AND SUCH EMPLOYEE ORGANIZATIONS.
   (D)  WITHOUT  LIMITING  CONTRACTORS'  OBLIGATIONS  UNDER   ALTERNATIVE
 PROJECT  DELIVERY CONTRACTS TO ISSUE THEIR OWN INITIAL CERTIFICATIONS OF
 SUBSTANTIAL COMPLETION AND FINAL COMPLETION,  PUBLIC  EMPLOYEES  OF  THE
 TRUST  SHALL REVIEW AND DETERMINE WHETHER THE WORK PERFORMED BY CONTRAC-
 TORS IS ACCEPTABLE AND HAS BEEN PERFORMED IN ACCORDANCE WITH THE  APPLI-
 CABLE ALTERNATIVE PROJECT DELIVERY CONTRACTS, AND IF SUCH PUBLIC EMPLOY-

 A. 7805                            16
 
 EES  SO  DETERMINE,  SUCH  PUBLIC  EMPLOYEES  SHALL  ACCEPT CONTRACTORS'
 SUBSTANTIAL OR FINAL COMPLETION  OF  THE  PUBLIC  WORKS  AS  APPLICABLE.
 PERFORMANCE  BY PUBLIC EMPLOYEES OF THE TRUST OF ANY REVIEW DESCRIBED IN
 THIS  SUBDIVISION SHALL NOT BE CONSTRUED TO MODIFY OR LIMIT CONTRACTORS'
 OBLIGATIONS TO PERFORM THE WORK IN STRICT ACCORDANCE WITH THE APPLICABLE
 ALTERNATIVE PROJECT DELIVERY CONTRACT OR THE CONTRACTORS' OR ANY SUBCON-
 TRACTORS' OBLIGATIONS OR LIABILITIES UNDER ANY LAW.
   § 611. ADDITIONAL AUTHORITY. THE PROCUREMENT  AUTHORITY  CONFERRED  BY
 THIS  ARTICLE  SHALL  NOT IMPACT OR IMPAIR, AND SHALL BE IN ADDITION TO,
 THE AUTHORITY CONFERRED BY THE NYCHA MODERNIZATION  INVESTMENT  ACT  AND
 THE NEW YORK CITY PUBLIC WORKS INVESTMENT ACT.
   §  612.  ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE  PROJECT  DELIVERY
 CONTRACTS.  CONSTRUCTION PERFORMED UNDER A CONTRACT ENTERED INTO BY  THE
 TRUST  PURSUANT  TO  THIS  ARTICLE SHALL BE DEEMED A "PUBLIC WORK" TO BE
 PERFORMED IN ACCORDANCE WITH THE PROVISIONS  OF  ARTICLE  EIGHT  OF  THE
 LABOR  LAW,  AS  WELL  AS  SUBJECT  TO SECTIONS TWO HUNDRED, TWO HUNDRED
 FORTY, TWO HUNDRED FORTY-ONE AND TWO HUNDRED FORTY-TWO OF THE LABOR  LAW
 AND  ENFORCEMENT  OF PREVAILING WAGE REQUIREMENTS PURSUANT TO APPLICABLE
 LAW OR, FOR PROJECTS OR PUBLIC WORKS RECEIVING FEDERAL  AID,  APPLICABLE
 FEDERAL  REQUIREMENTS  FOR  PREVAILING  WAGE.  ANY CONTRACT ENTERED INTO
 PURSUANT TO SECTION SIX HUNDRED TEN OF  THIS  ARTICLE  SHALL  INCLUDE  A
 CLAUSE REQUIRING THE SELECTED ALTERNATIVE PROJECT DELIVERY CONTRACTOR TO
 OBLIGATE  EVERY  TIER OF CONTRACTOR WORKING ON THE PUBLIC WORK TO COMPLY
 WITH THE PROJECT LABOR AGREEMENT REQUIRED BY SECTION SIX HUNDRED TEN  OF
 THIS ARTICLE, AND SHALL INCLUDE PROJECT LABOR AGREEMENT COMPLIANCE MONI-
 TORING AND ENFORCEMENT PROVISIONS CONSISTENT WITH ANY SUCH PROJECT LABOR
 AGREEMENT.
   §  613. BORROWING BY THE TRUST AND FOR ITS BENEFIT; EFFECTS OF CERTAIN
 DEFAULTS. 1. FOR THE PURPOSES OF THIS SECTION, THE TERM "PROJECT"  MEANS
 THE  DEVELOPMENT,  DESIGN,  CONSTRUCTION,  RECONSTRUCTION,  IMPROVEMENT,
 REHABILITATION, REPAIRING AND OPERATION OF HOUSING FACILITIES.
   2. THE TRUST SHALL HAVE THE POWER AND IS HEREBY AUTHORIZED  FROM  TIME
 TO  TIME  TO  ISSUE BONDS, NOTES OR OTHER OBLIGATIONS IN CONFORMITY WITH
 APPLICABLE PROVISIONS OF THE UNIFORM COMMERCIAL CODE, IN SUCH  PRINCIPAL
 AMOUNTS  AS  IT  MAY  DETERMINE  TO  BE NECESSARY TO PAY THE COST OF ANY
 PROJECT AND TO FUND RESERVES TO SECURE SUCH BONDS, NOTES OR OTHER  OBLI-
 GATIONS,  INCLUDING  INCIDENTAL  EXPENSES IN CONNECTION THEREWITH.   THE
 TRUST SHALL HAVE THE POWER FROM TIME TO TIME TO REFUND ANY BONDS,  NOTES
 OR OTHER OBLIGATIONS OF THE TRUST BY THE ISSUANCE OF NEW BONDS, NOTES OR
 OTHER OBLIGATIONS, AND MAY ISSUE BONDS, NOTES OR OTHER OBLIGATIONS PART-
 LY  TO  REFUND  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  OF THE TRUST THEN
 OUTSTANDING AND PARTLY TO PAY THE COST OF ANY PROJECT.  BONDS, NOTES  OR
 OTHER  OBLIGATIONS ISSUED BY THE TRUST SHALL BE PAYABLE AS MAY BE DESIG-
 NATED IN THE RESOLUTION OF THE TRUST UNDER WHICH  THE  BONDS,  NOTES  OR
 OTHER  OBLIGATIONS  SHALL  BE  AUTHORIZED  TO  BE ISSUED, SUBJECT TO ANY
 AGREEMENTS WITH THE HOLDERS OF OUTSTANDING BONDS, NOTES OR  OTHER  OBLI-
 GATIONS  PLEDGING ANY PARTICULAR REVENUES OR MONEYS.  NO BONDS, NOTES OR
 OTHER OBLIGATIONS OF THE TRUST OR ANY ENTITY REFERRED TO IN  SUBDIVISION
 THIRTEEN  OF SECTION SIX HUNDRED FOUR OF THIS ARTICLE SHALL BE ISSUED OR
 INCURRED WITHOUT THE PRIOR WRITTEN APPROVAL OF THE DIRECTOR  OF  MANAGE-
 MENT AND BUDGET OF THE CITY OF NEW YORK.
   3. THE TRUST SHALL BE AUTHORIZED TO OBTAIN INSURANCE, LETTERS OF CRED-
 IT  AND OTHER CREDIT OR LIQUIDITY FACILITIES RELATED TO ITS BONDS, NOTES
 OR OTHER OBLIGATIONS.
   4. THE BOARD MAY DELEGATE TO THE CHAIR OR THE PRESIDENT OF  THE  TRUST
 THE POWER TO SET THE FINAL TERMS OF BONDS, NOTES OR OTHER OBLIGATIONS.

 A. 7805                            17

   5.  WHENEVER THE TRUST SHALL DETERMINE THAT THE ISSUANCE OF ITS BONDS,
 NOTES OR OTHER OBLIGATIONS IS APPROPRIATE, THE TRUST SHALL MAKE A DETER-
 MINATION AS TO THE ARRANGEMENTS NECESSARY FOR THE ISSUANCE AND  SALE  OF
 SUCH  BONDS,  NOTES  OR OTHER OBLIGATIONS, INCLUDING THE UNDERWRITING OF
 SUCH  BONDS,  NOTES  OR  OTHER OBLIGATIONS THROUGH THE PUBLIC OR PRIVATE
 SALE OF SUCH BONDS, NOTES OR OTHER OBLIGATIONS, AND  SUCH  DETERMINATION
 SHALL  INCLUDE  COMPENSATION  FOR  SERVICES  RENDERED AS THE TRUST DEEMS
 APPROPRIATE. SUCH DETERMINATION SHALL BE SET FORTH IN  A  RESOLUTION  OF
 THE  TRUST, WHICH SHALL AUTHORIZE ISSUANCE OF SUCH BONDS, NOTES OR OTHER
 OBLIGATIONS.  THE BONDS, NOTES OR OTHER OBLIGATIONS SHALL BEAR  INTEREST
 AT  SUCH  FIXED OR VARIABLE RATES AND SHALL BE IN SUCH DENOMINATIONS, BE
 IN SUCH FORM, EITHER COUPON OR REGISTERED, BE SOLD  AT  SUCH  PUBLIC  OR
 PRIVATE  SALE,  BE  EXECUTED  IN  SUCH  MANNER, BE DENOMINATED IN UNITED
 STATES CURRENCY, BE PAYABLE IN SUCH MEDIUM OF PAYMENT, AT SUCH PLACE AND
 BE SUBJECT TO SUCH TERMS OF REDEMPTION AS THE TRUST MAY PROVIDE IN  SUCH
 RESOLUTION.
   6.  ANY  RESOLUTION  OR  RESOLUTIONS AUTHORIZING BONDS, NOTES OR OTHER
 OBLIGATIONS OR ANY ISSUE  OF  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  MAY
 CONTAIN  PROVISIONS WHICH MAY BE A PART OF THE CONTRACT WITH THE HOLDERS
 OF THE BONDS, NOTES OR OTHER OBLIGATIONS THEREBY AUTHORIZED AS TO:
   (A) PLEDGING ALL OR PART OF ITS REVENUES, INCLUDING, BUT  NOT  LIMITED
 TO,  PROJECT-BASED  OR TENANT-BASED ASSISTANCE PURSUANT TO SECTION EIGHT
 OF THE UNITED STATES HOUSING ACT OF NINETEEN  HUNDRED  THIRTY-SEVEN,  AS
 AMENDED,  OR  ANY  SUCCESSOR PROVISION, AND ASSISTANCE PROVIDED TO NYCHA
 PURSUANT TO SECTION NINE OF THE UNITED STATES HOUSING  ACT  OF  NINETEEN
 HUNDRED  THIRTY-SEVEN,  AS AMENDED, OR ANY SUCCESSOR PROVISION, TOGETHER
 WITH ANY OTHER MONEYS, SECURITIES OR CONTRACTS, TO SECURE THE PAYMENT OF
 THE BONDS, NOTES OR OTHER OBLIGATIONS, SUBJECT TO SUCH AGREEMENTS AS MAY
 THEN EXIST;
   (B) THE SETTING ASIDE OF RESERVES AND THE CREATION  OF  SINKING  FUNDS
 AND THE REGULATION AND DISPOSITION THEREOF;
   (C)  LIMITATIONS ON THE PURPOSE TO WHICH THE PROCEEDS FROM THE SALE OF
 BONDS, NOTES OR OTHER OBLIGATIONS MAY BE APPLIED;
   (D) LIMITATIONS ON THE ISSUANCE OF ADDITIONAL BONDS,  NOTES  OR  OTHER
 OBLIGATIONS, THE TERMS UPON WHICH ADDITIONAL BONDS, NOTES OR OTHER OBLI-
 GATIONS  MAY  BE ISSUED AND SECURED AND THE REFUNDING OF BONDS, NOTES OR
 OTHER OBLIGATIONS;
   (E) THE PROCEDURE, IF ANY, BY WHICH THE TERMS  OF  ANY  CONTRACT  WITH
 HOLDERS  OF BONDS, NOTES OR OTHER OBLIGATIONS MAY BE AMENDED OR ABROGAT-
 ED, INCLUDING THE PROPORTION OF HOLDERS OF BONDS, NOTES OR  OTHER  OBLI-
 GATIONS WHICH ARE NEEDED TO CONSENT THERETO AND THE MANNER IN WHICH SUCH
 CONSENT MAY BE GIVEN;
   (F)  VESTING  IN  A  BOND TRUSTEE OR TRUSTEES SUCH PROPERTIES, RIGHTS,
 POWERS AND DUTIES IN TRUST AS THE TRUST MAY DETERMINE; AND
   (G) DEFINING THE ACTS OR  OMISSIONS  TO  ACT  THAT  MAY  CONSTITUTE  A
 DEFAULT  IN  THE  OBLIGATIONS  AND DUTIES OF THE TRUST TO THE HOLDERS OF
 BONDS, NOTES OR OTHER OBLIGATIONS AND PROVIDING FOR THE RIGHTS AND REME-
 DIES OF THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS IN THE EVENT OF
 SUCH DEFAULT, INCLUDING AS A  MATTER  OF  RIGHT  THE  APPOINTMENT  OF  A
 RECEIVER,  PROVIDED, HOWEVER, THAT SUCH RIGHTS AND REMEDIES SHALL NOT BE
 INCONSISTENT WITH THE GENERAL LAWS OF THE STATE AND OTHER PROVISIONS  OF
 THIS ARTICLE.
   7. IN ADDITION TO THE POWERS HEREIN CONFERRED UPON THE TRUST TO SECURE
 ITS  BONDS,  NOTES  OR  OTHER OBLIGATIONS, THE TRUST SHALL HAVE POWER IN
 CONNECTION WITH THE ISSUANCE OF BONDS, NOTES  OR  OTHER  OBLIGATIONS  TO
 ENTER  INTO  SUCH  AGREEMENTS  FOR  THE BENEFIT OF THE HOLDERS OF BONDS,

 A. 7805                            18
 
 NOTES OR OTHER OBLIGATIONS AS THE TRUST MAY DEEM  NECESSARY,  CONVENIENT
 OR  DESIRABLE CONCERNING THE USE OR DISPOSITION OF ITS REVENUES OR OTHER
 MONEYS, INCLUDING THE ENTRUSTING, PLEDGING  OR  CREATION  OF  ANY  OTHER
 SECURITY INTEREST IN ANY SUCH REVENUES, MONEYS AND THE DOING OF ANY ACT,
 INCLUDING  REFRAINING FROM DOING ANY ACT, WHICH THE TRUST WOULD HAVE THE
 RIGHT TO DO IN THE ABSENCE OF SUCH  AGREEMENTS.  THE  TRUST  SHALL  HAVE
 POWER  TO ENTER INTO AMENDMENTS OF ANY SUCH AGREEMENTS WITHIN THE POWERS
 GRANTED TO THE TRUST BY THIS ARTICLE AND TO PERFORM SUCH AGREEMENTS. THE
 PROVISIONS OF ANY SUCH AGREEMENTS MAY BE MADE A  PART  OF  THE  CONTRACT
 WITH THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST.
   8. NOTWITHSTANDING ANY PROVISION OF THE UNIFORM COMMERCIAL CODE TO THE
 CONTRARY,  ANY PLEDGE OF OR OTHER SECURITY INTEREST IN REVENUES, MONEYS,
 ACCOUNTS, CONTRACT RIGHTS, GENERAL INTANGIBLE OR OTHER PERSONAL PROPERTY
 MADE OR CREATED BY THE TRUST SHALL BE VALID, BINDING AND PERFECTED  FROM
 THE  TIME  WHEN  SUCH PLEDGE IS MADE OR OTHER SECURITY INTEREST ATTACHES
 WITHOUT ANY PHYSICAL DELIVERY OF THE COLLATERAL OR FURTHER ACT, AND  THE
 LIEN OF ANY SUCH PLEDGE OR OTHER SECURITY INTEREST SHALL BE VALID, BIND-
 ING AND PERFECTED AGAINST ALL PARTIES HAVING CLAIMS OF ANY KIND IN TORT,
 CONTRACT  OR  OTHERWISE AGAINST THE TRUST IRRESPECTIVE OF WHETHER OR NOT
 SUCH PARTIES HAVE NOTICE THEREOF. NO INSTRUMENT BY WHICH SUCH  A  PLEDGE
 OR  SECURITY  INTEREST  IS  CREATED  NOR ANY FINANCING STATEMENT NEED BE
 RECORDED OR FILED.
   9. WHETHER OR NOT THE BONDS, NOTES OR OTHER OBLIGATIONS OF  THE  TRUST
 ARE OF SUCH FORM AND CHARACTER AS TO BE NEGOTIABLE INSTRUMENTS UNDER THE
 TERMS  OF  THE  UNIFORM COMMERCIAL CODE, THE BONDS, NOTES OR OTHER OBLI-
 GATIONS ARE HEREBY MADE NEGOTIABLE INSTRUMENTS WITHIN THE MEANING OF AND
 FOR ALL THE PURPOSES OF THE UNIFORM COMMERCIAL CODE, SUBJECT ONLY TO THE
 PROVISIONS OF THE BONDS, NOTES OR OTHER OBLIGATIONS FOR REGISTRATION.
   10. NEITHER THE MEMBERS OF THE BOARD NOR ANY  PERSON  EXECUTING  BONDS
 SHALL BE LIABLE PERSONALLY THEREON OR BE SUBJECT TO ANY PERSONAL LIABIL-
 ITY  OR  ACCOUNTABILITY  SOLELY  BY  REASON OF THE ISSUANCE THEREOF. THE
 BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST SHALL NOT BE  A  DEBT  OF
 NYCHA, THE CITY, OR THE STATE, AND NEITHER NYCHA, THE CITY NOR THE STATE
 SHALL  BE  LIABLE  THEREON,  NOR  SHALL THEY BE PAYABLE OUT OF ANY FUNDS
 OTHER THAN THOSE OF THE TRUST, AND SUCH  BONDS,  NOTES  OR  OTHER  OBLI-
 GATIONS SHALL CONTAIN ON THE FACE THEREOF A STATEMENT TO SUCH EFFECT.
   11. THE TRUST, SUBJECT TO SUCH AGREEMENTS WITH BONDHOLDERS AS THEN MAY
 EXIST, SHALL HAVE POWER TO PURCHASE BONDS, NOTES OR OTHER OBLIGATIONS OF
 THE TRUST OUT OF ANY MONEYS AVAILABLE THEREFOR, WHICH SHALL THEREUPON BE
 CANCELLED.
   12.  NOTWITHSTANDING  ANY  PROVISION  OF ARTICLE TWELVE OF THE PRIVATE
 HOUSING FINANCE LAW, SECTION  TWENTY-NINE  HUNDRED  SEVENTY-SIX  OF  THE
 PUBLIC AUTHORITIES LAW OR ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO THE
 CONTRARY,  (A)  THE  PURPOSES  OF  THE NEW YORK CITY HOUSING DEVELOPMENT
 CORPORATION AND ITS POWERS GRANTED IN  ARTICLE  TWELVE  OF  THE  PRIVATE
 HOUSING FINANCE LAW ALSO SHALL INCLUDE, SUBJECT TO THE PROVISIONS OF ANY
 CONTRACT  WITH  HOLDERS  OF  ITS  BONDS, NOTES OR OTHER OBLIGATIONS, THE
 MAKING OF LOANS TO THE TRUST AND ENTITIES  REFERRED  TO  IN  SUBDIVISION
 THIRTEEN  OF  SECTION  SIX  HUNDRED FOUR OF THIS ARTICLE, AND (B) BONDS,
 NOTES OR OTHER OBLIGATIONS OF THE  NEW  YORK  CITY  HOUSING  DEVELOPMENT
 CORPORATION  ISSUED  FOR, OR TO REFUND BONDS, NOTES OR OTHER OBLIGATIONS
 ISSUED FOR, SUCH PURPOSE OR THE PURPOSES OF  PAYING  COSTS  OF  ISSUANCE
 THEREOF  OR  FUNDING RESERVES TO SECURE SUCH BONDS, NOTES OR OTHER OBLI-
 GATIONS (I) MAY BE SOLD WITHOUT ANY CONSULTATION OR  APPROVAL  OTHERWISE
 REQUIRED  BY  SUBDIVISION  TWO  OF SECTION SIX HUNDRED FIFTY-FIVE OF THE
 PRIVATE HOUSING FINANCE LAW, (II) SHALL NOT BE INCLUDED  IN  ANY  CALCU-

 A. 7805                            19
 
 LATION  OF OUTSTANDING BONDS, NOTES OR OTHER OBLIGATIONS FOR PURPOSES OF
 SECTION SIX HUNDRED FIFTY-SIX OF THE PRIVATE  HOUSING  FINANCE  LAW  AND
 SHALL  NOT  BE  SECURED BY ANY CAPITAL RESERVE FUND ESTABLISHED PURSUANT
 THERETO,  AND  (III)  SHALL NOT BE INCLUDED IN ANY CALCULATION OF BONDS,
 NOTES OR OTHER OBLIGATIONS ISSUED BY THE NEW YORK CITY HOUSING  DEVELOP-
 MENT CORPORATION FOR PURPOSES OF SECTION TWENTY-NINE HUNDRED SEVENTY-SIX
 OF THE PUBLIC AUTHORITIES LAW.
   13.  IN  THE  EVENT  THAT ANY DEFAULT ON ANY BOND, NOTE OR OTHER OBLI-
 GATION THAT IS SECURED BY AN ASSIGNMENT OF, MORTGAGE ON,  PLEDGE  OF  OR
 OTHER  ENCUMBRANCE  ON ANY INTEREST OF THE TRUST, OR ANY ENTITY REFERRED
 TO IN SUBDIVISION THIRTEEN OF SECTION SIX HUNDRED FOUR OF THIS  ARTICLE,
 IN  ANY  HOUSING  FACILITIES,  HAS OCCURRED AND IS CONTINUING BEYOND THE
 APPLICABLE CURE PERIOD, IF ANY, PROVIDED TO THE TRUST OR SUCH ENTITY  IN
 THE  INSTRUMENT  GRANTING  SUCH  ASSIGNMENT,  MORTGAGE,  PLEDGE OR OTHER
 ENCUMBRANCE, NOTWITHSTANDING ANY PROVISION IN SUCH INSTRUMENT, ANY RIGHT
 OF THE BENEFICIARY OF SUCH INSTRUMENT TO OBTAIN SUCH  INTEREST  IN  SUCH
 HOUSING  FACILITIES  AS A REMEDY TO ANY SUCH DEFAULT SHALL, FOR A PERIOD
 ENDING THIRTY DAYS AFTER THE END OF SUCH CURE PERIOD, BE SUBJECT TO:
   (A) THE RIGHT OF THE CITY OF NEW YORK TO REMEDY, OR CAUSE TO BE  REME-
 DIED, SUCH DEFAULT; AND
   (B) THE RIGHT OF THE STATE OF NEW YORK TO REMEDY, OR CAUSE TO BE REME-
 DIED,  SUCH DEFAULT; PROVIDED, HOWEVER, THAT NOTHING IN THIS SUBDIVISION
 SHALL BE CONSTRUED TO IMPOSE ANY OBLIGATION ON THE CITY OF NEW  YORK  OR
 ON  THE  STATE  OF  NEW  YORK  TO  REMEDY, OR CAUSE TO BE REMEDIED, SUCH
 DEFAULT.
   14. NOTWITHSTANDING ANY DEFAULT  ON  ANY  OBLIGATION  REFERRED  TO  IN
 SUBDIVISION  THIRTEEN  OF  THIS SECTION, AND ANY REMEDIES EXERCISED AS A
 RESULT OF SUCH DEFAULT, PROVISIONS RELATING TO THE RESTRICTED USE OF THE
 HOUSING FACILITIES FOR THE PROVISION AND OPERATION OF HOUSING  FOR  LOW-
 INCOME  FAMILIES AND CURRENT RESIDENTS SHALL AT ALL TIMES CONTINUE TO BE
 IN EFFECT, AND THE  HOUSING  FACILITIES  SHALL  REMAIN  SUBJECT  TO  THE
 PROVISIONS  OF  SUBDIVISION  THREE  OF  SECTION SIX HUNDRED FIVE OF THIS
 ARTICLE.
   15. AT LEAST QUARTERLY, THE TRUST SHALL PROVIDE FINANCIAL  REPORTS  TO
 THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK CONTAINING
 SUCH  INFORMATION  AS THE  DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY
 OF NEW YORK MAY REQUEST.
   § 614. RESOURCES OF THE TRUST. 1. SUBJECT TO THE  PROVISIONS  OF  THIS
 ARTICLE,  THE MEMBERS OF THE BOARD SHALL RECEIVE, ACCEPT, INVEST, ADMIN-
 ISTER, EXPEND AND DISBURSE FOR ITS CORPORATE PURPOSES ALL MONEY  OF  THE
 TRUST FROM WHATEVER SOURCES DERIVED INCLUDING (A) THE PROCEEDS OF BONDS,
 NOTES  AND  OTHER  OBLIGATIONS,  AND  (B)  ANY OTHER PAYMENTS, GIFTS, OR
 APPROPRIATIONS TO THE TRUST FROM ANY OTHER SOURCE.
   2. SUBJECT TO THE PROVISIONS OF ANY CONTRACT WITH  HOLDERS  OF  BONDS,
 NOTES  OR OTHER OBLIGATIONS, THE MONEY OF THE TRUST SHALL BE PAID TO THE
 TRUST AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEY. THE MONEY OF THE
 TRUST SHALL BE DEPOSITED IN ACCOUNTS HELD IN THE  TRUST'S  NAME  IN  THE
 BANK OR BANKS IN THE STATE DESIGNATED BY THE TRUST.
   3.  THE  MONEYS  IN  SUCH  ACCOUNTS SHALL BE PAID OUT ON CHECKS OF THE
 TRUST UPON REQUISITION BY THE CHAIR OR SUCH OFFICER OR OFFICERS  AS  THE
 TRUST  MAY  AUTHORIZE  TO  MAKE SUCH REQUISITIONS, OR PURSUANT TO A BOND
 RESOLUTION OR TRUST INDENTURE.
   4. ANY MONEYS ON DEPOSIT IN THE ACCOUNTS OF THE TRUST NOT REQUIRED FOR
 IMMEDIATE EXPENDITURE SHALL BE INVESTED IN OBLIGATIONS IN WHICH A  MUNI-
 CIPALITY  MAY  BE AUTHORIZED TO INVEST IN ACCORDANCE WITH SECTION ELEVEN
 OF THE GENERAL MUNICIPAL LAW, PROVIDED, HOWEVER, THAT SUCH  FUNDS  SHALL

 A. 7805                            20

 NOT  BE INVESTED IN INSTRUMENTS COMMONLY KNOWN AS REPURCHASE AGREEMENTS.
 THE TRUST SHALL HAVE THE POWER, NOTWITHSTANDING THE PROVISIONS  OF  THIS
 SECTION,  TO  CONTRACT  WITH  THE HOLDERS OF ANY OF ITS BONDS, NOTES AND
 OTHER  OBLIGATIONS  AS  TO THE CUSTODY, COLLECTION, SECURING, INVESTMENT
 AND PAYMENT OF ANY MONEY OF THE TRUST OR ANY  MONEY  HELD  IN  TRUST  OR
 OTHERWISE  FOR  THE  PAYMENT OF BONDS, NOTES AND OTHER OBLIGATIONS OR IN
 ANY WAY TO SECURE BONDS, NOTES AND OTHER OBLIGATIONS, AND TO  CARRY  OUT
 ANY SUCH CONTRACT NOTWITHSTANDING THAT SUCH CONTRACT MAY BE INCONSISTENT
 WITH THE OTHER PROVISIONS OF THIS ARTICLE.
   §  615.  LEGAL INVESTMENT AND DEPOSIT. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS OF THE TRUST ARE HEREBY MADE  SECURITIES  IN  WHICH  ALL  PUBLIC
 OFFICERS  AND  BODIES  OF THE STATE AND ALL PUBLIC CORPORATIONS, MUNICI-
 PALITIES AND MUNICIPAL SUBDIVISIONS, ALL INSURANCE COMPANIES AND ASSOCI-
 ATIONS AND OTHER PERSONS CARRYING ON AN INSURANCE BUSINESS,  ALL  BANKS,
 BANKERS, TRUST COMPANIES, SAVINGS BANKS AND SAVINGS ASSOCIATIONS INCLUD-
 ING  SAVINGS  AND  LOAN  ASSOCIATIONS,  BUILDING  AND LOAN ASSOCIATIONS,
 INVESTMENT COMPANIES AND OTHER PERSONS CARRYING ON A  BANKING  BUSINESS,
 ALL  ADMINISTRATORS,  CONSERVATORS,  GUARDIANS,  EXECUTORS, TRUSTEES AND
 OTHER FIDUCIARIES, AND ALL OTHER PERSONS WHATSOEVER WHO ARE NOW  OR  MAY
 HEREAFTER  BE  AUTHORIZED  TO INVEST IN BONDS OR IN OTHER OBLIGATIONS OF
 THE STATE, MAY PROPERLY AND LEGALLY INVEST FUNDS, INCLUDING CAPITAL,  IN
 THEIR  CONTROL  OR  BELONGING  TO  THEM. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS ARE ALSO HEREBY MADE SECURITIES WHICH MAY BE DEPOSITED WITH  AND
 MAY  BE  RECEIVED BY ALL PUBLIC OFFICERS AND BODIES OF THE STATE AND ALL
 MUNICIPALITIES AND PUBLIC CORPORATIONS FOR ANY  PURPOSE  FOR  WHICH  THE
 DEPOSIT  OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE STATE IS NOW OR MAY
 HEREAFTER BE AUTHORIZED.
   § 616. TAX EXEMPTION AND TAX CONTRACT BY THE STATE. 1.  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  OF  NEW YORK AND IS A PUBLIC PURPOSE. ACCORDINGLY, THE TRUST
 SHALL BE REGARDED AS PERFORMING AN ESSENTIAL  GOVERNMENTAL  FUNCTION  IN
 THE  EXERCISE  OF  THE POWERS CONFERRED UPON IT BY THIS ARTICLE, AND THE
 TRUST SHALL NOT BE REQUIRED TO PAY ANY FEES, TAXES, SPECIAL  AD  VALOREM
 LEVIES  OR ASSESSMENTS OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, FRAN-
 CHISE TAXES, SALES TAXES OR OTHER TAXES, UPON OR  WITH  RESPECT  TO  ANY
 PROPERTY  OWNED BY IT OR UNDER ITS JURISDICTION, CONTROL OR SUPERVISION,
 OR UPON THE USES THEREOF, OR UPON OR WITH RESPECT TO ITS  ACTIVITIES  OR
 OPERATIONS  IN FURTHERANCE OF THE POWERS CONFERRED UPON IT BY THIS ARTI-
 CLE, OR UPON OR WITH RESPECT TO ANY FARES, TOLLS, RENTALS, RATES, CHARG-
 ES, FEES, REVENUES OR OTHER INCOME RECEIVED BY THE TRUST.
   2. ANY BONDS, NOTES OR OTHER OBLIGATIONS ISSUED PURSUANT TO THIS ARTI-
 CLE TOGETHER WITH THE INCOME THEREFROM SHALL AT ALL TIMES BE EXEMPT FROM
 TAXATION.
   3. THE STATE HEREBY COVENANTS WITH THE PURCHASERS AND WITH ALL  SUBSE-
 QUENT  HOLDERS  AND  TRANSFEREES  OF  BONDS,  NOTES OR OTHER OBLIGATIONS
 ISSUED BY THE TRUST PURSUANT TO THIS ARTICLE, IN  CONSIDERATION  OF  THE
 ACCEPTANCE  OF  AND  PAYMENT  FOR THE BONDS, NOTES OR OTHER OBLIGATIONS,
 THAT THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST ISSUED  PURSUANT
 TO  THIS  ARTICLE AND THE INCOME THEREFROM AND ALL REVENUES, MONIES, AND
 OTHER PROPERTY PLEDGED TO PAY OR TO SECURE THE PAYMENT  OF  SUCH  BONDS,
 NOTES OR OTHER OBLIGATIONS SHALL AT ALL TIMES BE FREE FROM TAXATION.
   §  617. ACTIONS AGAINST THE TRUST. 1. EXCEPT IN AN ACTION FOR WRONGFUL
 DEATH, NO ACTION OR PROCEEDING SHALL BE PROSECUTED OR MAINTAINED AGAINST
 THE TRUST FOR PERSONAL INJURY OR DAMAGE TO  REAL  OR  PERSONAL  PROPERTY
 ALLEGED  TO  HAVE BEEN SUSTAINED BY REASON OF THE NEGLIGENCE OR WRONGFUL

 A. 7805                            21
 
 ACT OF THE TRUST OR OF ANY  MEMBER  OF  THE  BOARD,  OFFICER,  AGENT  OR
 EMPLOYEE  THEREOF, UNLESS (A) IT SHALL APPEAR BY AND AS AN ALLEGATION IN
 THE COMPLAINT OR MOVING PAPERS THAT A NOTICE OF CLAIM  SHALL  HAVE  BEEN
 MADE  AND SERVED UPON THE TRUST, WITHIN THE TIME LIMIT PRESCRIBED BY AND
 IN COMPLIANCE WITH SECTION FIFTY-E OF THE GENERAL MUNICIPAL LAW, (B)  IT
 SHALL  APPEAR  BY AND AS AN ALLEGATION IN THE COMPLAINT OR MOVING PAPERS
 THAT AT LEAST THIRTY DAYS HAVE ELAPSED SINCE THE SERVICE OF SUCH  NOTICE
 AND  THAT  ADJUSTMENT  OR PAYMENT THEREOF HAS BEEN NEGLECTED OR REFUSED,
 AND (C) THE ACTION OR PROCEEDING SHALL  BE  COMMENCED  WITHIN  ONE  YEAR
 AFTER  THE  HAPPENING  OF  THE  EVENT  UPON WHICH THE CLAIM IS BASED. AN
 ACTION AGAINST THE TRUST  FOR  WRONGFUL  DEATH  SHALL  BE  COMMENCED  IN
 ACCORDANCE  WITH  THE  NOTICE OF CLAIM AND TIME LIMITATION PROVISIONS OF
 TITLE ELEVEN OF ARTICLE NINE OF THE PUBLIC AUTHORITIES LAW.
   2. WHEREVER A NOTICE OF CLAIM IS SERVED UPON THE TRUST, IT SHALL  HAVE
 THE  RIGHT  TO  DEMAND  AN  EXAMINATION  OF THE CLAIMANT RELATIVE TO THE
 OCCURRENCE AND EXTENT OF THE INJURIES OR  DAMAGES  FOR  WHICH  CLAIM  IS
 MADE, IN ACCORDANCE WITH THE PROVISIONS OF SECTION FIFTY-H OF THE GENER-
 AL MUNICIPAL LAW.
   3.  THE  TRUST  MAY  REQUIRE  ANY  PERSON PRESENTING FOR SETTLEMENT AN
 ACCOUNT OR CLAIM FOR ANY CAUSE WHATSOEVER AGAINST THE TRUST TO BE  SWORN
 BEFORE A MEMBER OF THE BOARD, COUNSEL OR AN ATTORNEY, OFFICER OR EMPLOY-
 EE THEREOF DESIGNATED FOR SUCH PURPOSE, CONCERNING SUCH ACCOUNT OR CLAIM
 AND  WHEN  SO  SWORN,  TO ANSWER ORALLY AS TO ANY FACTS RELATIVE TO SUCH
 ACCOUNT OR CLAIM. THE TRUST SHALL HAVE POWER TO  SETTLE  OR  ADJUST  ANY
 CLAIMS IN FAVOR OF OR AGAINST THE TRUST.
   4.  THE RATE OF INTEREST TO BE PAID BY THE TRUST UPON ANY JUDGMENT FOR
 WHICH IT IS LIABLE, OTHER THAN A JUDGMENT ON BONDS, NOTES OR OTHER OBLI-
 GATIONS, SHALL NOT EXCEED THE RATE OF INTEREST ON JUDGMENTS AND  ACCRUED
 CLAIMS  AGAINST MUNICIPAL AUTHORITIES AS PROVIDED IN THE GENERAL MUNICI-
 PAL LAW.  INTEREST ON PAYMENTS OF PRINCIPAL OR INTEREST  ON  ANY  BONDS,
 NOTES OR OTHER OBLIGATIONS IN DEFAULT SHALL ACCRUE AT THE RATE SPECIFIED
 IN THE GENERAL MUNICIPAL LAW UNTIL PAID OR OTHERWISE SATISFIED.
   5.  THE  VENUE  OF  EVERY  ACTION,  SUIT OR SPECIAL PROCEEDING BROUGHT
 AGAINST THE TRUST SHALL BE LAID IN THE COUNTY OF NEW YORK.
   § 618. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP. 1. THE TRUST,  FOR
 THE  PURPOSE OF ADMINISTERING THE CIVIL SERVICE LAW, SHALL BE SUBJECT TO
 THE PROVISIONS OF THE CIVIL SERVICE  LAW  AND  THE  RULES  OF  THE  CITY
 DEPARTMENT  OF  CITYWIDE ADMINISTRATIVE SERVICES OR ANY SUCCESSOR ACTING
 AS THE MUNICIPAL COMMISSION OF THE CITY.  THE  PRESIDENT  OF  THE  TRUST
 SHALL  BE  EMPOWERED  TO  ACT  FOR  THE TRUST IN ALL MATTERS RELATING TO
 COMPLIANCE WITH THIS SUBDIVISION.
   2. WITH RESPECT TO PERSONS EMPLOYED BY NYCHA ON THE EFFECTIVE DATE  OF
 THIS  SECTION, THE TRUST AND NYCHA SHALL BE DEEMED TO BE THE SAME PUBLIC
 EMPLOYER ONLY FOR PURPOSES OF TRANSFER OF  EMPLOYMENT  UNDER  THE  CIVIL
 SERVICE  LAW,  WHICH MAY BE MADE ONLY WITH THE APPROVAL OF THE NYCHA CEO
 AND THE PRESIDENT OF THE TRUST. NO CIVIL SERVICE RIGHT OF AN EMPLOYEE OF
 NYCHA EMPLOYED ON THE EFFECTIVE DATE OF  THIS  ARTICLE  SHALL  BE  LOST,
 IMPAIRED  OR  AFFECTED  BY  REASON OF THE ENACTMENT OF THIS SECTION INTO
 LAW.
   3. ANY PERSON ON AN ELIGIBLE LIST FOR  A  POSITION  WITH  NYCHA  SHALL
 CONTINUE TO HOLD SUCH POSITION ON SUCH LIST AND SHALL BE ENTITLED TO THE
 SAME  CIVIL  SERVICE  RIGHTS. THE TRUST SHALL CONTINUE TO USE ANY NEW OR
 EXISTING CIVIL SERVICE LISTS PROMULGATED BY THE DEPARTMENT  OF  CITYWIDE
 ADMINISTRATIVE  SERVICES  UNTIL SUCH TIME AS SUCCESSOR TITLES ARE ESTAB-
 LISHED. EMPLOYEES OF THE TRUST SHALL HAVE THE SAME RIGHTS  AND  BENEFITS
 AS EMPLOYEES OF NYCHA.

 A. 7805                            22
 
   4.  ANY  OFFICER  OR EMPLOYEE OF NYCHA WHO IS TRANSFERRED TO THE TRUST
 PURSUANT TO THIS SECTION AND WHO AT THE TIME  OF  SUCH  TRANSFER  WAS  A
 MEMBER  OF THE NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM SHALL CONTINUE
 TO BE A MEMBER OF SUCH SYSTEM AS LONG AS HE OR SHE OR THEY CONTINUES  IN
 SUCH  SERVICE, AND SHALL CONTINUE TO HAVE ALL THE RIGHTS, PRIVILEGES AND
 OBLIGATIONS OF MEMBERSHIP IN SUCH SYSTEM. EMPLOYMENT BY THE TRUST  SHALL
 CONSTITUTE  CITY-SERVICE  FOR THE PURPOSES OF CHAPTER ONE OF TITLE THIR-
 TEEN OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   § 619. COLLECTIVE NEGOTIATION. 1. EXCEPT AS OTHERWISE PROVIDED BY THIS
 ARTICLE, THE TRUST, BY MEANS OF A WRITTEN DETERMINATION OF THE PRESIDENT
 OF THE TRUST TRANSMITTED TO THE MAYOR WITHIN ONE HUNDRED TWENTY DAYS  OF
 THE  EFFECTIVE DATE OF THIS SECTION, MAY ELECT TO HAVE THE NEW YORK CITY
 COLLECTIVE BARGAINING LAW APPLY TO THE TRUST, SUBJECT TO APPROVAL OF THE
 MAYOR. SUCH LAW SHALL APPLY TO THE TRUST PENDING SUCH DETERMINATION  AND
 APPROVAL.  IN  THE  EVENT  THAT THE TRUST DOES NOT SO ELECT OR THE MAYOR
 DOES NOT APPROVE THE ELECTION, THE  STATE  PUBLIC  EMPLOYMENT  RELATIONS
 BOARD SHALL HAVE EXCLUSIVE JURISDICTION FOR THE PURPOSE OF ADMINISTERING
 THE  PROVISIONS  OF  ARTICLE  FOURTEEN OF THE CIVIL SERVICE LAW, AND THE
 PROVISIONS OF SECTION TWO HUNDRED TWELVE OF THE CIVIL SERVICE LAW  SHALL
 NOT BE APPLICABLE TO THE TRUST.
   2.  IN  THE  EVENT  THAT  THE  TRUST  ELECTS TO HAVE THE NEW YORK CITY
 COLLECTIVE BARGAINING LAW APPLY TO THE TRUST, FOR THE PURPOSE OF ARTICLE
 FOURTEEN OF THE CIVIL SERVICE LAW  AND  THE  NEW  YORK  CITY  COLLECTIVE
 BARGAINING  LAW,  AS  APPLICABLE,  THE  TRUST, ACTING BY AND THROUGH ITS
 PRESIDENT, SHALL BE DEEMED TO BE THE PUBLIC EMPLOYER AND AS  SUCH  SHALL
 NEGOTIATE WITH AND ENTER INTO WRITTEN AGREEMENTS WITH EMPLOYEE ORGANIZA-
 TIONS  REPRESENTING  THE  STAFF OF THE TRUST THAT HAVE BEEN CERTIFIED OR
 RECOGNIZED UNDER SUCH ARTICLE. IN CARRYING  ON  SUCH  NEGOTIATIONS,  THE
 PRESIDENT  OF  THE  TRUST  MAY CONSULT WITH AND SEEK ASSISTANCE FROM THE
 CITY OFFICE OF LABOR RELATIONS AND NYCHA. THE  PRESIDENT  OF  THE  TRUST
 SHALL  CONSULT  WITH THE APPROPRIATE PUBLIC EMPLOYEE ORGANIZATION ON THE
 ESTABLISHMENT OF, AND BARGAIN ALL  TERMS  AND  CONDITIONS  OF,  ANY  NEW
 TITLES ESTABLISHED FOR THE TRUST WHICH HAVE A COMMUNITY OF INTEREST WITH
 TITLES  ALREADY  REPRESENTED  BY  THE PUBLIC EMPLOYEE ORGANIZATION WHICH
 PRESENTLY HAS REPRESENTATION RIGHTS FOR THOSE TITLES FOR  NYCHA  OR  FOR
 THE  CITY.  ANY SUCH TITLES FOR WHICH TERMS AND CONDITIONS ARE BARGAINED
 PURSUANT TO THIS SUBDIVISION SHALL BE  DEEMED  TO  BE  SUCCESSOR  TITLES
 WITHIN  THE  MEANING  OF APPLICABLE LAW AND, SO LONG AS THE RESPONSIBIL-
 ITIES OF EMPLOYEES IN THESE TITLES ARE REASONABLY RELATED TO THE RESPON-
 SIBILITIES OF EMPLOYEES  CURRENTLY  REPRESENTED  BY  A  PUBLIC  EMPLOYEE
 ORGANIZATION,  SHALL  BE  ACCRETED TO THE APPROPRIATE BARGAINING CERTIF-
 ICATES FOR WHICH SUCH PUBLIC EMPLOYEE ORGANIZATION SHALL BE  VOLUNTARILY
 RECOGNIZED  AS  THE  BARGAINING AGENT UNDER PROCEDURES ACCEPTABLE TO THE
 OFFICE OF COLLECTIVE BARGAINING OR THE STATE PUBLIC EMPLOYMENT RELATIONS
 BOARD, AS APPLICABLE.
   § 620. APPLICATION OF STATE AND LOCAL HUMAN  RIGHTS  LAWS.    NOTWITH-
 STANDING  ANY  PROVISION  OF LAW TO THE CONTRARY, ARTICLE FIFTEEN OF THE
 EXECUTIVE LAW AND TITLE EIGHT OF THE ADMINISTRATIVE CODE OF THE CITY  OF
 NEW YORK SHALL APPLY TO THE TRUST.
   §  621.  LIMITED  LIABILITY.  1.  AS  USED  IN  THIS SECTION, THE TERM
 "EMPLOYEE" SHALL MEAN THE MEMBERS OF  THE  BOARD,  PRESIDENT,  OFFICERS,
 EMPLOYEES,  OR  A  FORMER  EMPLOYEE,  HIS  OR  HER  ESTATE OR JUDICIALLY
 APPOINTED PERSONAL REPRESENTATIVE.
   2. NEITHER THE MEMBERS OF THE BOARD NOR ANY OFFICERS  OR  EMPLOYEE  OF
 THE  TRUST  ACTING  ON  BEHALF THEREOF, WHILE ACTING WITHIN THE SCOPE OF

 A. 7805                            23
 
 SUCH PERSON'S AUTHORITY, SHALL BE SUBJECT  TO  ANY  LIABILITY  RESULTING
 FROM CARRYING OUT ANY OF THE POWERS EXPRESSLY GIVEN IN THIS ARTICLE.
   3. AT THE REQUEST OF THE EMPLOYEE, AND UPON COMPLIANCE BY THE EMPLOYEE
 WITH  THE  PROVISIONS  OF  THIS SECTION, THE TRUST SHALL PROVIDE FOR THE
 DEFENSE OF AN EMPLOYEE IN ANY CIVIL ACTION OR PROCEEDING IN ANY STATE OR
 FEDERAL COURT, ARISING OUT OF ANY ALLEGED  ACT  OR  OMISSION  WHICH  THE
 TRUST  FINDS  OCCURRED WHILE THE EMPLOYEE WAS ACTING WITHIN THE SCOPE OF
 HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF HIS OR  HER  PUBLIC
 DUTIES  AND  WAS NOT IN VIOLATION OF ANY RULE OR REGULATION OF THE TRUST
 AT THE TIME THE ALLEGED ACT OR OMISSION OCCURRED. THIS DUTY  TO  PROVIDE
 FOR  A  DEFENSE  AND  INDEMNIFICATION  SHALL  NOT ARISE WHERE SUCH CIVIL
 ACTION OR PROCEEDING IS BROUGHT BY OR ON BEHALF OF THE TRUST AGAINST THE
 EMPLOYEE.
   4. THE TRUST SHALL INDEMNIFY AND HOLD HARMLESS ITS  EMPLOYEES  IN  THE
 AMOUNT  OF  ANY  CIVIL  JUDGMENT  OBTAINED AGAINST SUCH EMPLOYEES IN ANY
 STATE OR FEDERAL COURT, OR IN THE AMOUNT OF ANY SETTLEMENT  OF  A  CLAIM
 APPROVED  BY THE TRUST PROVIDED THAT THE ACT OR OMISSION FROM WHICH SUCH
 JUDGMENT OR SETTLEMENT AROSE OCCURRED  WHILE  THE  EMPLOYEE  WAS  ACTING
 WITHIN THE SCOPE OF HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF
 HIS  OR  HER PUBLIC DUTIES AND WAS NOT IN VIOLATION OF ANY RULE OR REGU-
 LATION OF THE TRUST AT THE TIME THE ALLEGED DAMAGES WERE SUSTAINED.  THE
 DUTY TO INDEMNIFY AND HOLD HARMLESS PRESCRIBED BY THIS SECTION SHALL NOT
 ARISE  WHERE  THE INJURY OR DAMAGE RESULTED FROM AN INTENTIONAL WRONGDO-
 ING, OR RECKLESSNESS ON THE  PART  OF  THE  EMPLOYEE.  NOTHING  IN  THIS
 SECTION  SHALL  AUTHORIZE  THE  TRUST  TO  INDEMNIFY OR HOLD HARMLESS AN
 EMPLOYEE WITH RESPECT TO PUNITIVE OR EXEMPLARY DAMAGES, FINES OR  PENAL-
 TIES.
   5.  THE  DUTY  TO DEFEND AND INDEMNIFY AND HOLD HARMLESS PRESCRIBED BY
 THIS SECTION SHALL BE CONDITIONED UPON (A) DELIVERY BY THE  EMPLOYEE  TO
 THE PRESIDENT OR GENERAL COUNSEL OF THE TRUST AT THE OFFICE OF THE TRUST
 OF  THE  ORIGINAL  OR  A COPY OF ANY SUMMONS, COMPLAINT, CLAIM, PROCESS,
 NOTICE, DEMAND OR PLEADING WITHIN TEN DAYS AFTER THE EMPLOYEE IS  SERVED
 WITH  SUCH DOCUMENT, AND (B) THE FULL COOPERATION OF THE EMPLOYEE IN THE
 DEFENSE OF SUCH ACTION OR PROCEEDING AND IN DEFENSE  OF  ANY  ACTION  OR
 PROCEEDING AGAINST THE TRUST BASED UPON THE SAME ACT OR OMISSION, AND IN
 THE  PROSECUTION OF ANY APPEAL.  SUCH DELIVERY SHALL BE DEEMED A REQUEST
 BY THE EMPLOYEE THAT THE TRUST PROVIDE FOR HIS OR HER  DEFENSE  PURSUANT
 TO  THIS SECTION. IN THE EVENT THAT THE TRUST SHALL ASSUME AN EMPLOYEE'S
 DEFENSE AND THEREAFTER THE EMPLOYEE FAILS OR REFUSES TO COOPERATE IN THE
 FORMATION OR PRESENTATION OF HIS OR HER DEFENSE, THE COURT SHALL  PERMIT
 THE  TRUST  TO WITHDRAW ITS REPRESENTATION TEN DAYS AFTER GIVING WRITTEN
 NOTICE TO THE EMPLOYEE OF ITS INTENTION TO  DISCONTINUE  SUCH  REPRESEN-
 TATION.
   6. IN THE EVENT THAT THE ACT OR OMISSION UPON WHICH THE COURT PROCEED-
 ING  AGAINST  THE EMPLOYEE IS BASED WAS OR IS ALSO THE BASIS OF A DISCI-
 PLINARY PROCEEDING BY THE TRUST AGAINST THE EMPLOYEE, REPRESENTATION AND
 INDEMNIFICATION BY THE TRUST, AS SET FORTH IN THIS SECTION, MAY BE WITH-
 HELD (A) UNTIL SUCH DISCIPLINARY PROCEEDING HAS BEEN RESOLVED,  AND  (B)
 UNLESS  THE  RESOLUTION  OF  THE  DISCIPLINARY PROCEEDING EXONERATED THE
 EMPLOYEE AS TO SUCH ACT OR OMISSION.
   7. SUBJECT TO THE CONDITIONS SET FORTH IN THIS SECTION, SUCH  EMPLOYEE
 SHALL  BE ENTITLED TO REPRESENTATION BY THE GENERAL COUNSEL OF THE TRUST
 OR BY ANY ATTORNEY OR  ATTORNEYS  DESIGNATED  BY  THE  GENERAL  COUNSEL,
 PROVIDED, HOWEVER, THAT THE EMPLOYEE SHALL BE ENTITLED TO BE REPRESENTED
 BY  PRIVATE COUNSEL OF HIS OR HER CHOICE IN ANY CIVIL ACTION OR PROCEED-
 ING WHENEVER THE TRUST DETERMINES THAT REPRESENTATION WOULD BE  INAPPRO-

 A. 7805                            24
 
 PRIATE,  OR  WHENEVER A COURT, UPON APPROPRIATE MOTION OR OTHERWISE BY A
 SPECIAL PROCEEDING, DETERMINES THAT A CONFLICT OF  INTEREST  EXISTS  AND
 THAT  THE  EMPLOYEE  IS ENTITLED TO BE REPRESENTED BY PRIVATE COUNSEL OF
 THE EMPLOYEE'S CHOICE. THE GENERAL COUNSEL OF THE TRUST SHALL NOTIFY THE
 EMPLOYEE  IN WRITING OF SUCH DETERMINATION THAT THE EMPLOYEE IS ENTITLED
 TO BE REPRESENTED BY PRIVATE COUNSEL. PROVIDED, HOWEVER, THAT THE  TRUST
 MAY  REQUIRE, AS A CONDITION TO PAYMENT OF THE FEES AND EXPENSES OF SUCH
 REPRESENTATION, THAT APPROPRIATE GROUPS OF SUCH EMPLOYEES BE REPRESENTED
 BY THE SAME COUNSEL. REASONABLE ATTORNEYS' FEES AND LITIGATION  EXPENSES
 SHALL  BE  PAID  BY  THE TRUST TO SUCH PRIVATE COUNSEL FROM TIME TO TIME
 DURING THE PENDENCY OF A CIVIL ACTION OR PROCEEDING.
   8. ANY DISPUTE WITH RESPECT TO REPRESENTATION OF MULTIPLE EMPLOYEES BY
 A SINGLE COUNSEL OR THE REASONABLENESS OF ATTORNEYS' FEES OR THE  AMOUNT
 OF  LITIGATION EXPENSES SHALL BE RESOLVED BY THE COURT UPON MOTION OR BY
 WAY OF A SPECIAL PROCEEDING.
   9. THE BENEFITS OF THIS SECTION  SHALL  INURE  ONLY  TO  EMPLOYEES  AS
 DEFINED  IN THIS SECTION AND SHALL NOT ENLARGE OR DIMINISH THE RIGHTS OF
 ANY OTHER PARTY NOR SHALL ANY PROVISION OF THIS SECTION BE CONSTRUED  TO
 AFFECT, ALTER OR REPEAL ANY PROVISION OF THE WORKERS' COMPENSATION LAW.
   10.  THE  PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY
 TO IMPAIR, ALTER, LIMIT OR MODIFY THE  RIGHTS  AND  OBLIGATIONS  OF  ANY
 INSURER UNDER ANY POLICY OF INSURANCE.
   11.  EXCEPT  AS  OTHERWISE  SPECIFICALLY PROVIDED IN THIS SECTION, THE
 PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY TO  IMPAIR,
 ALTER,  LIMIT, MODIFY, ABROGATE OR RESTRICT ANY IMMUNITY AVAILABLE TO OR
 CONFERRED UPON ANY UNIT, ENTITY, MEMBER,  OFFICER  OR  EMPLOYEE  OF  THE
 TRUST,  OR  ANY  RIGHT  TO  DEFENSE  OR INDEMNIFICATION PROVIDED FOR ANY
 MEMBER, OFFICER OR EMPLOYEE BY, IN ACCORDANCE WITH, OR BY REASON OF, ANY
 OTHER PROVISION OF STATE, FEDERAL OR LOCAL LAW OR COMMON LAW.
   12. EVERY ACTION OR PROCEEDING INSTITUTED PURSUANT TO  THE  PROVISIONS
 OF  THIS  SECTION  SHALL  BE  COMMENCED  PURSUANT TO SECTION SIX HUNDRED
 SEVENTEEN OF THIS ARTICLE, AND SUBJECT TO ANY  CONDITION  OR  LIMITATION
 SET FORTH IN SUCH SECTION.
   13.  THE  PROVISIONS  OF  THIS  SECTION SHALL APPLY TO THE ACTIONS AND
 PROCEEDINGS SET FORTH HEREIN NOTWITHSTANDING ANY INCONSISTENT PROVISIONS
 OF STATE OR LOCAL LAW.
   § 622. AUDIT AND ANNUAL REPORTS. THE TRUST SHALL ANNUALLY PREPARE  AND
 SUBMIT  REPORTS  AS  REQUIRED  BY  THIS SECTION, PROVIDED THAT NO REPORT
 SHALL BE REQUIRED DURING THE FIRST YEAR AFTER THE EFFECTIVE DATE OF THIS
 SECTION.
   1. WITHIN ONE ONE HUNDRED TWENTY DAYS OF THE END OF THE CITY'S  FISCAL
 YEAR,  THE  TRUST  SHALL SUBMIT TO THE MAYOR OF THE CITY, THE RECOGNIZED
 CITYWIDE COUNCIL OF PRESIDENTS, OR AN EQUIVALENT SUCCESSOR BODY, AND THE
 NYCHA BOARD A REPORT ON ITS OPERATIONS DURING SUCH FISCAL YEAR. AN ANNU-
 AL AUDIT OF THE TRUST SHALL BE CONDUCTED  BY  AN  INDEPENDENT  CERTIFIED
 PUBLIC  ACCOUNTANT,  AND  THE  TRUST'S  INDEPENDENTLY  AUDITED FINANCIAL
 STATEMENTS SHALL BE INCLUDED IN  THIS  REPORT.  THE  REPORT  SHALL  ALSO
 DETAIL THE EXTENT OF COMPLETION OF ALL PROJECTS FOR DEVELOPMENT, DESIGN,
 CONSTRUCTION, RECONSTRUCTION, IMPROVEMENT, REHABILITATION, REPAIRING AND
 OPERATION  OF  HOUSING  FACILITIES,  INCLUDING,  BY  PROJECT, IDENTIFIED
 SHORTFALLS IN SCHEDULE PERFORMANCE AND PROVIDING  EXPLANATION  FOR  SUCH
 SHORTFALLS. SUCH REPORT SHALL DETAIL THE EXTENT OF COMPLETION AS EXISTED
 ON  THE  LAST  DAY  OF  THE  CITY'S  FISCAL YEAR. SUCH REPORT SHALL ALSO
 INCLUDE A DESCRIPTION OF EACH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT,
 INFORMATION  REGARDING THE PROCUREMENT PROCESS FOR EACH SUCH ALTERNATIVE
 PROJECT DELIVERY CONTRACT INCLUDING THE LIST OF RESPONDING ENTITIES THAT

 A. 7805                            25
 
 DEMONSTRATED THE GENERAL CAPABILITY TO PERFORM SUCH ALTERNATIVE  PROJECT
 DELIVERY  CONTRACT  PURSUANT  TO  PARAGRAPH  (A)  OF  SUBDIVISION ONE OF
 SECTION SIX HUNDRED TEN OF THIS ARTICLE, THE TOTAL COST OF EACH ALTERNA-
 TIVE  PROJECT DELIVERY CONTRACT, AN EXPLANATION OF THE ESTIMATED SAVINGS
 ATTRIBUTABLE FROM THE ALTERNATIVE PROJECT  DELIVERY  CONTRACT  STRUCTURE
 USED,  AND  THE  PARTICIPATION  RATE OF AND TOTAL DOLLAR VALUE OF MONIES
 PAID TO  MINORITY  AND  WOMEN  OWNED  BUSINESS  ENTERPRISES  UNDER  SUCH
 CONTRACT. SUCH REPORT SHALL ALSO INCLUDE A DESCRIPTION OF THE EMPLOYMENT
 AND  OTHER  ECONOMIC  OPPORTUNITIES DIRECTED TO RESIDENTS OF THE HOUSING
 FACILITIES PURSUANT TO SUBDIVISION THREE OF SECTION SIX HUNDRED SEVEN OF
 THIS ARTICLE. THE TRUST SHALL TRANSMIT THE PORTION OF SUCH REPORT RELAT-
 ING TO ALTERNATIVE PROJECT  DELIVERY  CONTRACTS  TO  THE  GOVERNOR,  THE
 TEMPORARY PRESIDENT OF THE SENATE AND THE SPEAKER OF THE ASSEMBLY.
   2.  ON  THE  LAST  BUSINESS DAY IN NOVEMBER OF EACH CALENDAR YEAR, THE
 TRUST SHALL SUBMIT A REPORT DESCRIBING ITS STRATEGIC PLANNING  FRAMEWORK
 FOR THE UPCOMING CALENDAR YEAR TO THE MAYOR OF THE CITY AND TO THE NYCHA
 BOARD.  SUCH REPORT SHALL DESCRIBE ANY CAPITAL IMPROVEMENTS TO BE UNDER-
 TAKEN AND THE APPROXIMATE COSTS OF SUCH IMPROVEMENTS AND  SHALL  PROVIDE
 INFORMATION  REGARDING  OPERATIONS, PROGRAMS, AND SERVICES OF THE TRUST.
 THE TRUST SHALL PRESENT A DRAFT OF THIS REPORT AT A MEETING OF THE BOARD
 SCHEDULED TO OCCUR NO LESS THAN FORTY-FIVE CALENDAR DAYS  PRIOR  TO  THE
 LAST BUSINESS DAY IN NOVEMBER. THE TRUST SHALL MAKE SUCH DRAFT AVAILABLE
 FOR  PUBLIC  REVIEW NO LESS THAN FIFTEEN CALENDAR DAYS BEFORE SUCH MEET-
 ING. THE TRUST SHALL OFFER THE PUBLIC AN  OPPORTUNITY  TO  PROVIDE  ORAL
 COMMENT  ON THE REPORT AT SUCH MEETING AND TO SUBMIT WRITTEN COMMENTS TO
 THE TRUST UNTIL A SPECIFIED DATE PRIOR TO THE DATE ON WHICH  THE  REPORT
 IS FINALIZED. THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED DURING SUCH
 PERIOD PRIOR TO FINALIZING THE REPORT REQUIRED BY THIS SUBDIVISION.
   §  623.  JURISDICTION  OVER  TRUST. 1. THE TRUST SHALL NOT BE DEEMED A
 "COVERED ORGANIZATION" AS DEFINED IN THE NEW YORK STATE FINANCIAL  EMER-
 GENCY ACT FOR THE CITY OF NEW YORK.
   2.  THE DEPARTMENT OF INVESTIGATION OF THE CITY SHALL BE AUTHORIZED TO
 CONDUCT INVESTIGATIONS RELATING TO THE TRUST PURSUANT TO  CHAPTER  THIR-
 TY-FOUR OF THE NEW YORK CITY CHARTER.
   3.  THE  COMPTROLLER  OF  THE  CITY,  OR HIS OR HER LEGALLY AUTHORIZED
 REPRESENTATIVE, IS HEREBY AUTHORIZED AND EMPOWERED FROM TIME TO TIME  TO
 EXAMINE  THE  BOOKS  AND  ACCOUNTS  OF THE TRUST INCLUDING ITS RECEIPTS,
 DISBURSEMENTS, CONTRACTS, RESERVE FUNDS, SINKING FUNDS, INVESTMENTS, AND
 ANY OTHER MATTERS RELATING TO ITS FINANCIAL STANDING.
   4. THE TRUST SHALL NOT BE DEEMED  A  "LOCAL  AUTHORITY"  OR  A  "STATE
 AUTHORITY"  FOR  PURPOSES  OF  THE PUBLIC AUTHORITIES LAW, AND SHALL NOT
 OTHERWISE BE SUBJECT TO PROVISIONS OF SUCH LAW WITH  RESPECT  TO  PUBLIC
 AUTHORITIES, EXCEPT AS MAY BE SPECIFICALLY PROVIDED FOR BY THIS ARTICLE.
   § 624. EFFECT OF INCONSISTENT PROVISIONS. INSOFAR AS THE PROVISIONS OF
 THIS  ARTICLE  ARE  INCONSISTENT  WITH  THE PROVISIONS OF ANY OTHER LAW,
 GENERAL, SPECIAL OR LOCAL OR OF THE NEW YORK CITY CHARTER OR  ANY  LOCAL
 LAW,  ORDINANCE OR RESOLUTION OF THE CITY, THE PROVISION OF THIS ARTICLE
 SHALL BE CONTROLLING, PROVIDED THAT NOTHING CONTAINED  IN  THIS  SECTION
 SHALL  BE HELD TO SUPPLEMENT OR OTHERWISE EXPAND THE POWERS OR DUTIES OF
 THE TRUST OTHERWISE SET FORTH IN THIS ARTICLE.
   § 625. SEVERABILITY. IF ANY PROVISION OF THIS ARTICLE OR ITS  APPLICA-
 TION  TO ANY PERSON OR CIRCUMSTANCE IS HELD UNCONSTITUTIONAL OR INVALID,
 IN WHOLE OR IN PART, BY ANY COURT, SUCH HOLDING  OF  UNCONSTITUTIONALITY
 OR  INVALIDITY  SHALL  IN NO WAY AFFECT OR IMPAIR ANY OTHER PROVISION OF
 THIS ARTICLE OR THE APPLICATION OF  ANY  SUCH  PROVISION  TO  ANY  OTHER

 A. 7805                            26
 
 PERSON  OR  CIRCUMSTANCE, AND TO THIS END THE PROVISIONS OF THIS ARTICLE
 ARE SEVERABLE.
   § 2. Paragraph b of subdivision 3 of section 13-101 of the administra-
 tive  code of the city of New York, as amended by chapter 16 of the laws
 of 1997, is amended to read as follows:
   b. Service as a paid employee of the triborough bridge authority,  the
 Henry  Hudson  parkway  authority, the Marine parkway authority, the New
 York city tunnel authority, the New York city parkway authority, the New
 York city housing authority, THE NEW YORK CITY PUBLIC HOUSING  PRESERVA-
 TION  TRUST,  the  triborough  bridge and tunnel authority, the New York
 city transit authority, the New York  city  housing  development  corpo-
 ration, the New York city health and hospitals corporation, the New York
 city   off-track   betting   corporation,   the  New  York  city  school
 construction authority,  the  New  York  city  municipal  water  finance
 authority, the New York city water board, the transit construction fund,
 the  New  York  city  transitional  finance authority, the New York city
 sports authority and the New York city rehabilitation mortgage insurance
 corporation shall constitute city-service as herein defined.
   § 3. Paragraph 1 of subdivision c of section 13-133 of the administra-
 tive code of the city of New York, subparagraph (C) as added by  chapter
 738  of  the laws of 1988, subparagraphs (D) and (E) as added by chapter
 609 of the laws of 1995, subparagraph (F) as added by chapter 16 of  the
 laws  of 1997, and subparagraph (G) as added by chapter 3 of the laws of
 2013, is amended to read as follows:
   (1) (A) The comptroller shall make monthly payments, in  twelve  equal
 installments,  with  respect to obligations which the city incurs to pay
 sums to the retirement system.
   (B) The New York city health  and  hospitals  corporation  shall  make
 monthly  payments,  in  twelve equal installments, with respect to obli-
 gations which it incurs to pay sums to the retirement system.
   (C) The New York city school construction authority shall make monthly
 payments, in twelve equal  installments,  with  respect  to  obligations
 which it incurs to pay sums to the retirement system.
   (D)  The  New  York  city municipal water finance authority shall make
 monthly payments, in twelve equal installments, with  respect  to  obli-
 gations, if any, which it incurs to pay sums to the retirement system.
   (E)  The  New  York  city  water board shall make monthly payments, in
 twelve equal installments, with respect to obligations, if any, which it
 incurs to pay sums to the retirement system.
   (F) The New York city transitional finance authority shall make month-
 ly payments, in twelve equal installments, with respect  to  obligations
 which it incurs to pay sums to the retirement system.
   (G)  THE  NEW  YORK  CITY PUBLIC HOUSING PRESERVATION TRUST SHALL MAKE
 MONTHLY PAYMENTS, IN TWELVE EQUAL INSTALLMENTS, WITH  RESPECT  TO  OBLI-
 GATIONS WHICH IT INCURS TO PAY SUMS TO THE RETIREMENT SYSTEM.
   (H) Where a responsible obligor (as defined in paragraph ten of subdi-
 vision a of section 13-638.2 of this title) is required to make payments
 to  the  retirement  system  pursuant to applicable provisions of law in
 fiscal year two thousand  twelve--two  thousand  thirteen,  and  in  any
 fiscal  year  thereafter,  and the provisions of this subdivision or the
 provisions of any other applicable law  do  not  otherwise  specifically
 require  such  responsible obligor to make such payments by a particular
 date or dates during such fiscal year, such  responsible  obligor  shall
 make  such  payments  either  (i) in total on or before January first of
 such fiscal year, or (ii)  in  twelve  equal  monthly  installments,  as

 A. 7805                            27

 determined  by  the actuary, with each monthly installment to be paid on
 or before the last day of each month.
   §  4.  This  act  shall take effect on the sixtieth day after it shall
 have become a law. Provided that any public officer or employee, includ-
 ing but not limited to the mayor of the city of New York and  the  chief
 executive  officer of the New York city housing authority, is authorized
 to take any action that is necessary for the  timely  implementation  of
 this act prior to its effective date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7805--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 21, 2021
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ,  FALL, BENEDETTO, BURDICK, COOK,
   TAPIA, CUSICK, J. RIVERA,  SEAWRIGHT,  GIBBS,  DINOWITZ,  EICHENSTEIN,
   FERNANDEZ  --  read  once  and referred to the Committee on Housing --
   recommitted to the Committee on Housing in  accordance  with  Assembly
   Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the public housing law and the  administrative  code  of
   the  city  of  New York, in relation to establishing the New York city
   public housing preservation trust for properties owned or operated  by
   the  New York city housing authority and providing for the issuance of
   certain bonds, notes or other obligations of the New York city housing
   development corporation
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The public housing law is amended by adding a new article
 15 to read as follows:
                                ARTICLE XV
              NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST
 
 SECTION 625. SHORT TITLE.
         626. LEGISLATIVE FINDINGS.
         627. DEFINITIONS.
         628. NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
         629. POWERS AND DUTIES OF THE TRUST.
         630. TRANSFER OF PROPERTY.
         631. EXEMPTION  FROM  LAND  USE  REVIEW  PROCEDURES  AND   OTHER
                REQUIREMENTS.
         632. RESIDENT PROTECTIONS AND OPPORTUNITIES.
         633. COMPLIANCE WITH CODES.
         634. CONTRACTS OF THE TRUST.
         635. ALTERNATIVE PROJECT DELIVERY CONTRACTS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11275-11-2
              

 A. 7805--A                          2
 
         636. ADDITIONAL AUTHORITY.
         637. ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE PROJECT DELIVERY
                CONTRACTS.
         638. BORROWING BY THE TRUST AND  FOR  ITS  BENEFIT;  EFFECTS  OF
                CERTAIN DEFAULTS.
         639. RESOURCES OF THE TRUST.
         640. LEGAL INVESTMENT AND DEPOSIT.
         641. TAX EXEMPTION AND TAX CONTRACT BY THE STATE.
         642. ACTIONS AGAINST THE TRUST.
         643. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP.
         644. COLLECTIVE NEGOTIATION.
         645. APPLICATION OF STATE AND LOCAL HUMAN RIGHTS LAWS.
         646. LIMITED LIABILITY.
         647. AUDIT AND ANNUAL REPORTS.
         648. JURISDICTION OVER TRUST.
         649. EFFECT OF INCONSISTENT PROVISIONS.
         650. SEVERABILITY.
 
   §  625.  SHORT  TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
 THE "NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST ACT".
   § 626. LEGISLATIVE FINDINGS. THE LEGISLATURE HEREBY FINDS AND DECLARES
 THAT SIGNIFICANT CAPITAL INVESTMENT  IS  REQUIRED  TO  DESIGN,  DEVELOP,
 CONSTRUCT, RECONSTRUCT, IMPROVE, MODERNIZE, REHABILITATE, AND REPAIR THE
 AGING BUILDINGS OWNED OR OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY
 WHICH  ARE  DETERIORATING  DUE TO DECADES OF DIMINISHING CAPITAL INVEST-
 MENT. RESTRICTIONS RELATING TO THE NEW  YORK  CITY  HOUSING  AUTHORITY'S
 CONSTRUCTION  PROCESS,  AND  ITS INABILITY TO UTILIZE INNOVATIVE PROJECT
 DELIVERY METHODS, HAVE EXACERBATED ITS CAPITAL NEEDS. A NEW PUBLIC ENTI-
 TY WITH GREATER FLEXIBILITY TO LEVERAGE CAPITAL INVESTMENT AND TO MANAGE
 THE REHABILITATION OF THESE PROPERTIES MUST BE ESTABLISHED.   REPAIRING,
 MODERNIZING,  AND  IMPROVING  NEW  YORK CITY HOUSING AUTHORITY BUILDINGS
 MUST BEGIN IMMEDIATELY SO THAT HUNDREDS OF THOUSANDS OF NEW YORKERS  CAN
 RESIDE IN AFFORDABLE HOUSING THAT IS DECENT, SAFE, SANITARY, AND IN GOOD
 REPAIR.   ESTABLISHING A NEW PUBLIC ENTITY, AND TRANSFERRING A LEASEHOLD
 INTEREST IN THE BUILDINGS OWNED AND OPERATED BY THE NEW YORK CITY  HOUS-
 ING  AUTHORITY TO THIS NEW ENTITY SO THAT THEY CAN UNDERGO THE NECESSARY
 REHABILITATION, REPAIR AND MODERNIZATION, WILL ENSURE THAT THESE  BUILD-
 INGS  CONTINUE  TO  PROVIDE  AFFORDABLE HOUSING TO RESIDENTS OF NEW YORK
 CITY FOR MANY DECADES INTO THE  FUTURE.  IT  IS  THE  UNDERSTANDING  AND
 INTENTION  OF  THE LEGISLATURE THAT ANY BUILDING TRANSFERRED TO THIS NEW
 PUBLIC ENTITY AND OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY  SHALL
 CONTINUE TO BE SUBJECT TO THE OBLIGATIONS IMPOSED BY MARIBEL BAEZ ET AL.
 V. NEW YORK CITY HOUSING AUTHORITY, NO. 13-CIV-8916.
   § 627. DEFINITIONS. AS USED OR REFERRED TO IN THIS ARTICLE:
   1.  "ALTERNATIVE PROJECT DELIVERY CONTRACT" MEANS ANY PROJECT DELIVERY
 METHOD AUTHORIZED BY THIS ARTICLE, INCLUDING CONSTRUCTION MANAGER BUILD,
 CONSTRUCTION MANAGER AT RISK, AND DESIGN-BUILD, PURSUANT TO WHICH ONE OR
 MORE CONTRACTS FOR THE PROVISION OF DESIGN  OR  CONSTRUCTION  MANAGEMENT
 AND  CONSTRUCTION  SERVICES  ARE AWARDED PURSUANT TO AN OPEN AND COMPET-
 ITIVE METHOD OF PROCUREMENT, AS SPECIFIED IN SECTION SIX  HUNDRED  THIR-
 TY-FIVE OF THIS ARTICLE.
   2. "BEST VALUE" MEANS THE BASIS FOR AWARDING CONTRACTS FOR SERVICES TO
 A  PROPOSER  THAT  OPTIMIZES  QUALITY,  COST  AND  EFFICIENCY, PRICE AND
 PERFORMANCE CRITERIA, WHICH MAY INCLUDE, BUT IS NOT LIMITED TO:
   (A) THE QUALITY OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (B) THE TIMELINESS OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
 A. 7805--A                          3

   (C) THE LEVEL OF CUSTOMER SATISFACTION WITH THE PROPOSER'S PERFORMANCE
 ON PREVIOUS PROJECTS;
   (D)  THE  PROPOSER'S  RECORD OF PERFORMING PREVIOUS PROJECTS ON BUDGET
 AND ABILITY TO MINIMIZE COST OVERRUNS;
   (E) THE PROPOSER'S ABILITY TO LIMIT CHANGE ORDERS;
   (F) THE PROPOSER'S ABILITY TO PREPARE APPROPRIATE PROJECT PLANS;
   (G) THE PROPOSER'S TECHNICAL CAPACITIES;
   (H) THE INDIVIDUAL QUALIFICATIONS OF THE PROPOSER'S KEY PERSONNEL;
   (I) THE PROPOSER'S ABILITY TO ASSESS AND MANAGE RISK AND MINIMIZE RISK
 IMPACT;
   (J) THE PROPOSER'S FINANCIAL CAPABILITY;
   (K) THE PROPOSER'S ABILITY TO  COMPLY  WITH  APPLICABLE  REQUIREMENTS,
 INCLUDING THE PROVISIONS OF ARTICLES ONE HUNDRED FORTY-FIVE, ONE HUNDRED
 FORTY-SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW;
   (L)  THE PROPOSER'S PAST RECORD OF COMPLIANCE WITH FEDERAL LAWS, STATE
 AND LOCAL LAWS, RULES, LICENSING  REQUIREMENTS,  WHERE  APPLICABLE,  AND
 EXECUTIVE  ORDERS,  INCLUDING,  BUT NOT LIMITED TO, SECTION THREE OF THE
 HOUSING AND URBAN DEVELOPMENT ACT OF NINETEEN  HUNDRED  SIXTY-EIGHT,  AS
 AMENDED,  OR ANY SUCCESSOR PROVISION, ARTICLE FIFTEEN-A OF THE EXECUTIVE
 LAW, ANY OTHER APPLICABLE  LAWS  CONCERNING  MINORITY-  AND  WOMEN-OWNED
 BUSINESS ENTERPRISE PARTICIPATION, THE LABOR LAW, AND ANY OTHER APPLICA-
 BLE LABOR AND PREVAILING WAGE LAWS;
   (M)  THE PROPOSER'S RECORD OF COMPLYING WITH EXISTING LABOR STANDARDS,
 MAINTAINING HARMONIOUS LABOR RELATIONS, AND PROTECTING  THE  HEALTH  AND
 SAFETY  OF WORKERS AND PAYMENT OF WAGES ABOVE ANY LOCALLY-DEFINED LIVING
 WAGE;
   (N) A QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS  OR  OFFERS
 FOR  AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT ARE CERTIFIED AS
 MINORITY  OR  WOMEN  OWNED  BUSINESS  ENTERPRISES  PURSUANT  TO  ARTICLE
 FIFTEEN-A OF THE EXECUTIVE LAW OR CERTIFIED PURSUANT TO SECTION THIRTEEN
 HUNDRED  FOUR  OF  THE  NEW YORK CITY CHARTER AS MINORITY OR WOMEN OWNED
 BUSINESS ENTERPRISES, OR WHERE THE BIDDER IS A JOINT  VENTURE  INCLUDING
 AT LEAST ONE SUCH CERTIFIED FIRM. WHERE THE TRUST IDENTIFIES A QUANTITA-
 TIVE  FACTOR  PURSUANT  TO  THIS PARAGRAPH, THE TRUST SHALL SPECIFY THAT
 BUSINESSES CERTIFIED AS MINORITY OR  WOMEN  OWNED  BUSINESS  ENTERPRISES
 PURSUANT  TO  ARTICLE  FIFTEEN-A  OF  THE EXECUTIVE LAW AS WELL AS THOSE
 CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT  TO
 SECTION  THIRTEEN  HUNDRED  FOUR  OF THE NEW YORK CITY CHARTER, OR JOINT
 VENTURES INCLUDING AT LEAST ONE SUCH CERTIFIED  FIRM,  ARE  ELIGIBLE  TO
 QUALIFY FOR SUCH FACTOR. NOTHING IN THIS PARAGRAPH SHALL BE CONSTRUED TO
 REQUIRE  THAT  SUCH  BUSINESSES BE CONCURRENTLY CERTIFIED AS MINORITY OR
 WOMEN OWNED BUSINESS ENTERPRISES UNDER SUCH ARTICLE AND SUCH SECTION  TO
 QUALIFY FOR SUCH QUANTITATIVE FACTOR; AND
   (O)  A  QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS OR OFFERS
 FOR AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT CONSTITUTE  BUSI-
 NESS  CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR LOW AND VERY LOW-
 INCOME PERSONS. SUCH BASIS SHALL REFLECT, WHEREVER  POSSIBLE,  OBJECTIVE
 AND QUANTIFIABLE ANALYSIS.
   3. "BOARD" MEANS THE BOARD OF TRUSTEES OF THE TRUST.
   4. "CITY" MEANS THE CITY OF NEW YORK.
   5.  "CONSTRUCTION  MANAGER  AT  RISK"  MEANS A PROJECT DELIVERY METHOD
 WHEREBY A CONSTRUCTION MANAGER:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
 A. 7805--A                          4
 
   (B)  DURING  THE  CONSTRUCTION  PHASE,  ACTS AS GENERAL CONTRACTOR FOR
 AGREED UPON COMPENSATION AS SET FORTH IN  THE  CONSTRUCTION  MANAGER  AT
 RISK AGREEMENT; AND
   (C)  ASSUMES THE RISK OF CONSTRUCTION COSTS EXCEEDING AN AMOUNT SPECI-
 FIED IN THE CONSTRUCTION MANAGER AT RISK AGREEMENT.
   6. "CONSTRUCTION MANAGER BUILD" MEANS A PROJECT DELIVERY METHOD WHERE-
 BY A CONSTRUCTION MANAGER:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
   (B)  UNDER  THE  OVERSIGHT  OF  THE OWNER ACTS AS THE SINGLE SOURCE OF
 RESPONSIBILITY TO BID, SELECT AND HOLD CONSTRUCTION CONTRACTS ON  BEHALF
 OF THE OWNER DURING THE CONSTRUCTION PHASE; AND
   (C) MANAGES THE CONSTRUCTION PROJECT ON BEHALF OF THE OWNER.
   7.  "COST  PLUS"  MEANS  COMPENSATING  A  CONTRACTOR  FOR  THE COST TO
 COMPLETE A CONTRACT BY REIMBURSING ACTUAL COSTS FOR LABOR, EQUIPMENT AND
 MATERIALS PLUS AN ADDITIONAL AMOUNT FOR OVERHEAD AND PROFIT.
   8. "DESIGN-BUILD" MEANS A PROJECT DELIVERY METHOD FOR THE  DESIGN  AND
 CONSTRUCTION  OF  A  PROJECT  WITH  A SINGLE ENTITY, WHICH MAY BE A TEAM
 COMPRISED OF SEPARATE ENTITIES.
   9. "GROUND LEASE" MEANS THE WRITTEN INSTRUMENT PURSUANT TO WHICH NYCHA
 TRANSFERS TO THE TRUST ITS LEASEHOLD INTEREST IN ITS HOUSING  FACILITIES
 AND ANCILLARY PERSONAL PROPERTY.
   10. "HOUSING FACILITIES" MEANS THE LAND AND BUILDINGS THEREON OWNED OR
 OPERATED  BY  NYCHA AND THE IMPROVEMENTS MADE TO SUCH LAND AND BUILDINGS
 FOR USE IN CONNECTION WITH DEVELOPMENT OR OPERATION OF DWELLING ACCOMMO-
 DATIONS FOR LOW-INCOME FAMILIES.
   11. "LOW-INCOME FAMILIES" MEANS LOW-, VERY LOW-, AND EXTREMELY LOW-IN-
 COME FAMILIES AS DEFINED IN PARAGRAPH TWO OF SUBSECTION (B)  OF  SECTION
 1437A  OF  TITLE  FORTY-TWO  OF  THE UNITED STATES CODE OR ANY SUCCESSOR
 PROVISION.
   12. "MAYOR" MEANS THE MAYOR OF THE CITY OF NEW YORK.
   13. "NYCHA" MEANS THE NEW YORK CITY HOUSING AUTHORITY.
   14. "NYCHA BOARD" MEANS THE MEMBERS OF  NYCHA  APPOINTED  PURSUANT  TO
 SUBDIVISION THREE OF SECTION FOUR HUNDRED TWO OF THIS CHAPTER.
   15.  "NYCHA CEO" MEANS THE CHIEF EXECUTIVE OFFICER OF NYCHA WHO SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   16. "NYCHA CFO" MEANS THE CHIEF FINANCIAL OFFICER OF NYCHA WHO  SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   17. "OTHER RESIDENTS" MEANS RESIDENTS WHO ARE:
   (A)  RESIDENTS  OF A HOUSING FACILITY ON THE DATE NYCHA TRANSFERS SUCH
 FACILITY TO THE TRUST BUT ARE NOT LOW-INCOME  FAMILIES,  AS  DEFINED  IN
 THIS SECTION, ON THE DATE OF SUCH TRANSFER;
   (B)  LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, AND RESIDENTS OF
 A HOUSING FACILITY ON THE DATE NYCHA  TRANSFERS  SUCH  FACILITY  TO  THE
 TRUST  BUT WHO, SUBSEQUENT TO SUCH TRANSFER AND DURING THE COURSE OF THE
 TENANCIES OF SUCH RESIDENTS, NO LONGER SATISFY THE DEFINITION OF LOW-IN-
 COME FAMILIES; OR
   (C) LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, UPON COMMENCEMENT
 OF THEIR TENANCIES IN A HOUSING FACILITY OPERATED BY THE TRUST BUT  WHO,
 DURING THE COURSE OF THE TENANCIES OF SUCH RESIDENTS, DO NOT SATISFY THE
 DEFINITION OF LOW-INCOME FAMILIES.
   18. "PROJECT LABOR AGREEMENT" SHALL HAVE THE SAME MEANING AS DESCRIBED
 IN SUBDIVISION ONE OF SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW. A
 PROJECT LABOR AGREEMENT SHALL REQUIRE PARTICIPATION IN APPRENTICE TRAIN-
 ING  PROGRAMS  IN  ACCORDANCE  WITH  PARAGRAPH (E) OF SUBDIVISION TWO OF
 SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW.
 A. 7805--A                          5
 
   19. "RESIDENT" MEANS A NATURAL PERSON WHOSE LAWFUL  PRIMARY  RESIDENCE
 IS A DWELLING UNIT IN A HOUSING FACILITY.
   20. "TRUST" MEANS THE NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
   §  628.  NEW  YORK CITY PUBLIC HOUSING PRESERVATION TRUST. 1. THERE IS
 HEREBY ESTABLISHED A PUBLIC BENEFIT CORPORATION TO BE KNOWN AS THE  "NEW
 YORK  CITY PUBLIC HOUSING PRESERVATION TRUST". THE PURPOSE OF SUCH TRUST
 SHALL BE THE DESIGN, DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION, IMPROVE-
 MENT, MODERNIZATION, REHABILITATION, REPAIRING AND OPERATION OF  HOUSING
 FACILITIES.
   2. THE TRUST SHALL BE GOVERNED BY AND ITS POWERS SHALL BE EXERCISED BY
 A BOARD OF TRUSTEES CONSISTING OF NINE MEMBERS. THE MEMBERS SHALL BE THE
 NYCHA  CEO,  THE  NYCHA  CFO,  THE DEPUTY MAYOR FOR HOUSING AND ECONOMIC
 DEVELOPMENT OF THE CITY OF NEW YORK, OR ANOTHER DEPUTY MAYOR  DESIGNATED
 BY  THE  MAYOR  IF THERE IS NO DEPUTY MAYOR WITH THAT DESIGNATION, THREE
 MEMBERS APPOINTED BY THE NYCHA CEO, INCLUDING TWO HOUSING FACILITY RESI-
 DENT MEMBERS AND ONE MEMBER AT LARGE, PROVIDED  THAT  ONE  SUCH  HOUSING
 FACILITY RESIDENT MEMBER SHALL BE SELECTED FROM TWO CANDIDATES NOMINATED
 BY  THE  RECOGNIZED  CITYWIDE  COUNCIL  OF  PRESIDENTS, OR AN EQUIVALENT
 SUCCESSOR BODY, AND ONE SUCH HOUSING FACILITY RESIDENT MEMBER  SHALL  BE
 SELECTED  FROM  TWO CANDIDATES NOMINATED BY THE RESIDENT ADVISORY BOARD,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  THREE  MEMBERS  APPOINTED  BY  THE
 MAYOR,  INCLUDING  TWO  HOUSING FACILITY RESIDENT MEMBERS, PROVIDED THAT
 ONE SUCH HOUSING FACILITY RESIDENT MEMBER SHALL  BE  SELECTED  FROM  TWO
 CANDIDATES  NOMINATED  BY THE RECOGNIZED CITYWIDE COUNCIL OF PRESIDENTS,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  ONE  MEMBER  WHO  SHALL  REPRESENT
 EMPLOYEES  OF  NYCHA, AS APPLICABLE, AND BE SELECTED FROM TWO CANDIDATES
 NOMINATED BY ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA OR THE TRUST,
 AS APPLICABLE.  THE NYCHA CEO SHALL BE THE CHAIR  OF  THE  TRUST.    THE
 BOARD OF TRUSTEES OF THE TRUST SHALL APPOINT THE PRESIDENT OF THE TRUST.
 THE  TERM  OF EACH MEMBER, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS, SHALL BE THREE YEARS, EXCEPT AT INITIAL APPOINTMENT WHEN  THE
 TERMS  SHALL  BE  STAGGERED  SO THAT NO MORE THAN TWO MEMBERS SHALL HAVE
 TERMS THAT END IN ANY GIVEN YEAR, PROVIDED THAT THE  TERM  OF  ONLY  ONE
 MEMBER APPOINTED BY THE MAYOR SHALL END IN ANY GIVEN YEAR.
   3.  EACH  APPOINTED  MEMBER SHALL CONTINUE IN OFFICE UNTIL A SUCCESSOR
 HAS BEEN APPOINTED AND QUALIFIED UNLESS OTHERWISE REMOVED AS FOLLOWS.  A
 MEMBER  MAY  BE  REMOVED  BY THE NYCHA CEO OR MAYOR, WHICHEVER APPOINTED
 SUCH MEMBER, UPON THE FILING IN THE OFFICE OF THE TRUST AND SERVING UPON
 THE MEMBER THE REASONS  THEREFOR.    SUCH  DOCUMENT  SETTING  FORTH  THE
 REASONS  SHALL  BE  MADE  AVAILABLE  TO  THE  GENERAL PUBLIC WHICH SHALL
 INCLUDE, BUT NOT BE LIMITED TO, PUBLISHING SUCH REASONS ON THE  WEBSITES
 OF  THE  TRUST AND NYCHA. IN THE EVENT A VACANCY OCCURS IN THE OFFICE OF
 AN APPOINTED MEMBER, THE VACANCY SHALL BE FILLED IN THE SAME  MANNER  AS
 WAS THE ORIGINAL APPOINTMENT OF THE MEMBER WHOSE OFFICE BECAME VACANT.
   4. APPOINTED MEMBERS MAY ENGAGE IN PRIVATE EMPLOYMENT, OR IN A PROFES-
 SION  OR  BUSINESS,  UNLESS  OTHERWISE  PROHIBITED BY LAW, RULE OR REGU-
 LATION, PROVIDED, HOWEVER, THAT NOTWITHSTANDING ANY APPLICABLE PROVISION
 OF LAW, THE MEMBERS SHALL BE SUBJECT TO  THE  LIMITATIONS  CONTAINED  IN
 SECTIONS  TWO THOUSAND SIX HUNDRED THREE, TWO THOUSAND SIX HUNDRED FOUR,
 TWO THOUSAND SIX HUNDRED FIVE, AND TWO THOUSAND SIX HUNDRED SIX  OF  THE
 NEW  YORK  CITY  CHARTER.  THE TRUST SHALL BE AN AGENCY AND SUCH MEMBERS
 SHALL BE PUBLIC SERVANTS FOR THE PURPOSES OF SUCH SECTIONS. IN ADDITION,
 SUCH MEMBERS SHALL BE SUBJECT TO THE PROVISIONS OF SECTION ONE  THOUSAND
 ONE  HUNDRED  SIXTEEN  OF  THE  NEW  YORK CITY CHARTER AND SHALL FOR THE
 PURPOSES OF SUCH SECTION BE CONSIDERED OFFICERS OF  THE  CITY.  FURTHER,
 SUCH  MEMBERS, THE PRESIDENT AND CERTAIN CRITICAL EMPLOYEES OF THE TRUST
 A. 7805--A                          6
 
 AS DESIGNATED BY THE BOARD OR THE PRESIDENT, SHALL  BE  SUBJECT  TO  THE
 PROVISIONS  OF  SECTION 12-110 OF THE ADMINISTRATIVE CODE OF THE CITY OF
 NEW YORK PERTAINING TO THE FILING OF ANNUAL DISCLOSURE REPORTS WITH  THE
 CITY  CONFLICTS  OF INTEREST BOARD, AND FOR SUCH PURPOSE, THE MEMBERS OF
 THE BOARD OF TRUSTEES SHALL BE DEEMED TO BE COMPENSATED MEMBERS  OF  THE
 TRUST.
   5.  THE  BOARD  SHALL PROVIDE FOR THE HOLDING OF REGULAR MEETINGS, AND
 SUCH SPECIAL MEETINGS, AT THE CALL OF THE CHAIR OF THE TRUST, AS MAY  BE
 NECESSARY.   A MAJORITY OF THE MEMBERS THEN IN OFFICE SHALL CONSTITUTE A
 QUORUM FOR THE TRANSACTION OF BUSINESS. THE POWERS OF THE BOARD SHALL BE
 VESTED IN AND EXERCISED BY A MAJORITY OF THE  MEMBERS  THEREOF  THEN  IN
 OFFICE.  ANY ONE OR MORE MEMBERS OF THE BOARD MAY PARTICIPATE IN A MEET-
 ING OF THE TRUST BY MEANS OF A CONFERENCE TELEPHONE OR SIMILAR  COMMUNI-
 CATIONS  EQUIPMENT  ALLOWING ALL PERSONS PARTICIPATING IN THE MEETING TO
 HEAR EACH OTHER AT THE SAME TIME.  PARTICIPATION  BY  SUCH  MEANS  SHALL
 CONSTITUTE PRESENCE IN PERSON AT A MEETING.
   6. MEMBERS OF THE BOARD, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS,  SHALL  RECEIVE  A STIPEND IN THE AMOUNT OF TWO HUNDRED FIFTY
 DOLLARS FOR EVERY FOUR HOURS OF WORK PERFORMED FOR  THE  TRUST,  NOT  TO
 EXCEED  ONE  THOUSAND  FIVE  HUNDRED  DOLLARS  PER MONTH.   IN ADDITION,
 MEMBERS SHALL BE  REIMBURSED  FOR  THE  ACTUAL  AND  NECESSARY  EXPENSES
 INCURRED  BY THEM IN THE PERFORMANCE OF THEIR OFFICIAL DUTIES AS MEMBERS
 OF THE BOARD OF TRUSTEES.
   7. THE BOARD SHALL APPOINT A PRESIDENT OF THE TRUST AND DETERMINE  THE
 COMPENSATION  OF THE PRESIDENT. THE PRESIDENT, WHO SHALL NOT BE A MEMBER
 OF THE BOARD, SHALL BE THE CHIEF EXECUTIVE  OFFICER  OF  THE  TRUST  AND
 SHALL  BE RESPONSIBLE FOR THE DISCHARGE OF THE EXECUTIVE AND ADMINISTRA-
 TIVE FUNCTIONS AND POWERS OF THE TRUST, INCLUDING THE  EXERCISE  OF  ANY
 POWERS  DELEGATED  BY  THE  BOARD  TO THE PRESIDENT. THE PRESIDENT SHALL
 SERVE AT THE PLEASURE OF THE BOARD.
   8. THE TRUST SHALL CONTINUE SO LONG AS IT SHALL HAVE NOTES,  BONDS  OR
 OTHER  OBLIGATIONS  OUTSTANDING  (INCLUDING  NOTES, BONDS OR OBLIGATIONS
 HEREAFTER ISSUED OR INCURRED) AND UNTIL ITS EXISTENCE  SHALL  BE  TERMI-
 NATED  BY  LAW.  UPON THE TERMINATION OF THE EXISTENCE OF THE TRUST, ALL
 ITS RIGHTS AND PROPERTIES SHALL PASS TO AND BE VESTED IN NYCHA.
   9. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, NO OFFICER OR
 EMPLOYEE OF THE STATE, OR OF ANY  CIVIL  DIVISION  THEREOF,  OR  OF  ANY
 PUBLIC  CORPORATION, AS DEFINED IN THE GENERAL CONSTRUCTION LAW, INCLUD-
 ING NYCHA, SHALL BE DEEMED TO  HAVE  FORFEITED  OR  SHALL  FORFEIT  SUCH
 PERSON'S OFFICE OR EMPLOYMENT OR ANY BENEFITS PROVIDED UNDER THE RETIRE-
 MENT AND SOCIAL SECURITY LAW OR UNDER ANY PUBLIC RETIREMENT SYSTEM MAIN-
 TAINED  BY  THE  STATE OR BY THE CIVIL DIVISIONS THEREOF, OR BY ANY SUCH
 PUBLIC CORPORATION, BY REASON OF SUCH PERSON'S ACCEPTANCE OF  MEMBERSHIP
 ON  THE  BOARD OF THE TRUST OR BY VIRTUE OF SUCH PERSON BEING AN OFFICER
 OR EMPLOYEE OF THE TRUST.
   § 629. POWERS AND DUTIES OF  THE  TRUST.  THE  TRUST  SHALL  HAVE  THE
 FOLLOWING POWERS AND DUTIES:
   1. TO SUE AND BE SUED;
   2. TO HAVE A SEAL AND ALTER THE SAME AT PLEASURE;
   3.  TO  MAKE  AND,  AS  NECESSARY, TO AMEND AND REPEAL BY-LAWS FOR THE
 TRUST AND THE MANAGEMENT AND REGULATION OF ITS AFFAIRS NOT  INCONSISTENT
 WITH THE PROVISIONS OF THIS ARTICLE;
   4.  TO  APPOINT  THE  PRESIDENT  OF  THE TRUST AND FIX THE PRESIDENT'S
 COMPENSATION, PURSUANT TO SECTION SIX HUNDRED TWENTY-EIGHT OF THIS ARTI-
 CLE, AND TO EXECUTE DIRECT OVERSIGHT OF THE PRESIDENT AND OTHER  MANAGE-
 MENT IN THE EFFECTIVE AND ETHICAL MANAGEMENT OF THE TRUST, AND ESTABLISH
 A. 7805--A                          7
 
 POLICIES  REGARDING  THE  PAYMENT OF SALARY, COMPENSATION AND REIMBURSE-
 MENTS TO, AND ESTABLISH RULES FOR THE TIME AND ATTENDANCE OF THE  PRESI-
 DENT AND MANAGEMENT;
   5.  TO  ENGAGE  OR  ASSIST  IN  THE DEVELOPMENT, DESIGN, CONSTRUCTION,
 RECONSTRUCTION, IMPROVEMENT, MODERNIZATION,  REHABILITATION,  REPAIRING,
 AND OPERATION OF HOUSING FACILITIES;
   6.  TO ACQUIRE OR TRANSFER REAL AND PERSONAL PROPERTY AND IMPROVEMENTS
 THEREON, OR ANY INTEREST THEREIN, BY ANY METHOD, NECESSARY OR CONVENIENT
 FOR THE EXERCISE OF ITS FUNCTIONS, POWERS AND DUTIES;
   7. TO ENCUMBER RESIDENTIAL PROPERTY AND BUILDINGS HELD  BY  THE  TRUST
 AND  LIMIT  USE  TO  RESIDENTS WHO ARE LOW-INCOME FAMILIES AS DEFINED IN
 SUBDIVISION ELEVEN OF SECTION SIX HUNDRED TWENTY-SEVEN OF  THIS  ARTICLE
 AND  OTHER  RESIDENTS AS DEFINED IN SUBDIVISION SEVENTEEN OF SECTION SIX
 HUNDRED TWENTY-SEVEN OF THIS ARTICLE;
   8. TO MAKE AND EXECUTE CONTRACTS AND ALL OTHER  INSTRUMENTS  NECESSARY
 OR  CONVENIENT  FOR  THE  EXERCISE  OF ITS FUNCTIONS, POWERS AND DUTIES,
 INCLUDING PROCUREMENT CONTRACTS CONSISTENT WITH APPLICABLE PROVISIONS OF
 THIS ARTICLE. NOTWITHSTANDING ANY PROVISION  OF  LAW  TO  THE  CONTRARY,
 INCLUDING  BUT  NOT  LIMITED TO ARTICLE EIGHT OF THIS CHAPTER, THE TRUST
 MAY ENTER INTO CONTRACTS, CONSISTENT WITH APPLICABLE PROVISIONS OF  THIS
 ARTICLE, WITH NYCHA OR ON BEHALF OF AND FOR THE BENEFIT OF NYCHA;
   9.  TO  ENTER INTO AGREEMENTS WITH THE NYCHA OR OTHER ENTITIES FOR THE
 PROVISION OF MANAGEMENT, MAINTENANCE AND OTHER SERVICES;
   10. NOTWITHSTANDING THE PROVISIONS OF SECTION TWENTY-FIVE HUNDRED FOUR
 OF THE INSURANCE LAW OR ANY OTHER PROVISION OF LAW TO THE  CONTRARY,  TO
 PROCURE  OR CAUSE TO BE PLACED OR PROCURED INSURANCE ON BEHALF OF ITSELF
 AND OTHERS AGAINST ANY LOSS IN CONNECTION WITH ITS  ACTIVITIES,  PROPER-
 TIES  AND  OTHER  ASSETS,  IN  SUCH AMOUNTS AND FROM SUCH INSURERS AS IT
 DEEMS DESIRABLE;
   11. TO ENTER INTO AGREEMENTS WITH PUBLIC AGENCIES AND PUBLIC  ENTITIES
 FOR THE RECEIPT OF SERVICES;
   12.  TO  BORROW  AND  LOAN FUNDS AND ISSUE BONDS, NOTES OR OTHER OBLI-
 GATIONS CONSISTENT WITH THIS ARTICLE;
   13. TO FORM OR PARTICIPATE AS MEMBERS OR PARTNERS OF PRIVATE ENTITIES,
 WHICH MAY INCLUDE BUT ARE NOT LIMITED TO,  NOT-FOR-PROFIT  CORPORATIONS,
 HOUSING  DEVELOPMENT  FUND CORPORATIONS, LIMITED LIABILITY CORPORATIONS,
 AND LIMITED PARTNERSHIPS, TO FURTHER THE PURPOSES AND POWERS  GIVEN  AND
 GRANTED BY THIS SECTION;
   14.  TO  EARN  FEES  AND OTHER PROCEEDS FROM THE ACTIVITIES AND POWERS
 GIVEN AND GRANTED BY THIS SECTION;
   15. TO APPLY  FOR  OR  ACCEPT  FROM  ANY  SOURCE  ANY  GIFTS,  GRANTS,
 DONATIONS, OR CONVEYANCES OF LAND, MONEY, OTHER REAL OR PERSONAL PROPER-
 TY,  OR OTHER ITEMS OF VALUE, OR LOANS OF FUNDS OR PROPERTY OR FINANCIAL
 OR OTHER AID OR CREDIT ASSISTANCE IN ANY FORM, INCLUDING  ANY  GUARANTY,
 LINE  OF  CREDIT, OR GRANT, FROM THE FEDERAL GOVERNMENT OR ANY AGENCY OR
 INSTRUMENTALITY THEREOF, FROM THE STATE OR ANY AGENCY OR INSTRUMENTALITY
 THEREOF, FROM THE CITY OR ANY AGENCY OR INSTRUMENTALITY THEREOF, OR FROM
 ANY OTHER SOURCE, FOR ANY OR ALL OF THE PURPOSES SPECIFIED IN THIS ARTI-
 CLE, AND IT MAY COMPLY, SUBJECT TO THE PROVISIONS OF THIS ARTICLE,  WITH
 THE TERMS AND CONDITIONS THEREOF;
   16.  PRIOR  TO THE APPROVAL OF ANY RULE OR REGULATION AFFECTING RIGHTS
 AND PROTECTIONS AFFORDED TO RESIDENTS OF HOUSING FACILITIES,  INCLUDING,
 BUT  NOT  LIMITED TO, RESIDENT PROTECTIONS AND OPPORTUNITIES PURSUANT TO
 SECTION SIX HUNDRED THIRTY-TWO OF THIS ARTICLE, LEASE REVISIONS,  SCHED-
 ULES  OF  SPECIAL CHARGES FOR SERVICES, REPAIRS AND UTILITIES, AND RULES
 AND REGULATIONS TO BE INCORPORATED INTO  THE  LEASE  BY  REFERENCE,  THE
 A. 7805--A                          8
 
 TRUST  SHALL POST A NOTICE CONTAINING THE PROPOSED RULE OR REGULATION ON
 THE WEBSITE OF THE TRUST AND IN A PROMINENT  LOCATION  IN  THE  AFFECTED
 HOUSING FACILITY. SUCH NOTICE SHALL INCLUDE (A) A STATEMENT OF THE BASIS
 AND  PURPOSE OF THE PROPOSED RULE, (B) THE TIME AND PLACE OF THE MEETING
 AT WHICH THE BOARD WILL PROVIDE RESIDENTS AN OPPORTUNITY TO PROVIDE ORAL
 COMMENT ON SUCH PROPOSED RULE, PROVIDED THAT A MEETING TO PROVIDE  RESI-
 DENTS  AN  OPPORTUNITY  TO PROVIDE ORAL COMMENT SHALL NOT BE REQUIRED IF
 SUCH RULE IS REQUIRED BY LAW  WITH  ONLY  MINOR,  IF  ANY,  EXERCISE  OF
 DISCRETION  BY  THE  TRUST, OR DOES NOT ADVERSELY AFFECT THE PROTECTIONS
 AFFORDED TO THE RESIDENTS OF THE HOUSING FACILITIES, AND (C) AN OPPORTU-
 NITY TO SUBMIT WRITTEN COMMENTS AND THE FINAL DATE FOR RECEIPT OF  WRIT-
 TEN  COMMENTS.  THE TRUST MAY ADOPT A RULE OR REGULATION AFTER RECEIVING
 WRITTEN COMMENTS ON THE PROPOSED RULE OR REGULATION FOR A PERIOD  OF  AT
 LEAST  THIRTY  DAYS.   THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED IN
 SUCH PERIOD PRIOR TO ADOPTING SUCH RULE OR REGULATION. IN THE EVENT  THE
 TRUST  DETERMINES  THAT  IMMEDIATE ADOPTION OF ANY RULE OR REGULATION IS
 NECESSARY FOR THE PRESERVATION OF HEALTH, SAFETY OR GENERAL WELFARE  AND
 THAT  COMPLIANCE  WITH  THE  FOREGOING  REQUIREMENTS OF THIS SUBDIVISION
 WOULD BE CONTRARY TO THE PUBLIC INTEREST,  SUCH  PROPOSED  ITEM  MAY  BE
 ADOPTED  ON  AN  EMERGENCY BASIS. THE TRUST SHALL PROVIDE WRITTEN JUSTI-
 FICATION FOR SUCH DETERMINATION AND  MAKE  SUCH  JUSTIFICATION  PUBLICLY
 AVAILABLE  INCLUDING  VIA ITS WEBSITE AND IN A PROMINENT LOCATION IN THE
 AFFECTED HOUSING FACILITY. ANY SUCH IMMEDIATE ADOPTION SHALL ONLY REMAIN
 IN EFFECT FOR SIXTY DAYS, AND DURING SUCH TIME THE  TRUST  SHALL  COMPLY
 WITH  THE  REQUIREMENTS OF THIS SUBDIVISION IN ORDER FOR THE ADOPTION OF
 THE RULE OR REGULATION TO BECOME PERMANENT; AND
   17. TO DO ANY AND ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT  AND
 EXERCISE THE POWERS GIVEN AND GRANTED BY THIS ARTICLE.
   §  630.  TRANSFER  OF PROPERTY. 1. NYCHA, ACTING BY NYCHA BOARD RESOL-
 UTION AND IN ACCORDANCE WITH A DISPOSITION OR SIMILAR PLAN  APPROVED  BY
 THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT IN ACCORD-
 ANCE  WITH  APPLICABLE  FEDERAL  LAW,  WHICH  SHALL  INCLUDE A LETTER OF
 APPROVAL FROM THE MAYOR OR A DESIGNEE OF THE MAYOR, MAY TRANSFER TO  THE
 TRUST,  WITH  OR  WITHOUT CONSIDERATION AND WITHOUT ANY FURTHER AUTHORI-
 ZATION, A LEASEHOLD INTEREST IN ITS HOUSING FACILITIES AND ANY ANCILLARY
 PERSONAL PROPERTY OF SUCH FACILITIES. THE AGGREGATE NUMBER  OF  RESIDEN-
 TIAL  UNITS  TRANSFERRED TO THE TRUST PURSUANT TO THIS SECTION SHALL NOT
 EXCEED TWENTY-FIVE THOUSAND. ON AN ANNUAL BASIS,  NYCHA  AND  THE  TRUST
 SHALL REVIEW SUCH LIMIT AND, IF THEY DETERMINE THAT SUCH LIMIT SHOULD BE
 INCREASED,  NYCHA AND THE TRUST SHALL MAKE RECOMMENDATIONS TO THE LEGIS-
 LATURE REGARDING ANY SUCH INCREASE.
   2. THE TRUST SHALL NOT TRANSFER, CONVEY, ASSIGN, MORTGAGE,  PLEDGE  OR
 OTHERWISE  ENCUMBER  ANY  INTEREST IN, OR PERMIT OR SUFFER ANY TRANSFER,
 CONVEYANCE, ASSIGNMENT, MORTGAGE, PLEDGE OR  OTHER  ENCUMBRANCE  OF  ANY
 INTEREST  IN  ANY  HOUSING FACILITIES, OR ANY PART THEREOF WITHOUT PRIOR
 WRITTEN CONSENT OF NYCHA.  SUCH WRITTEN CONSENT SHALL INCLUDE,  BUT  NOT
 BE  LIMITED TO, ALL PROTECTIONS DESCRIBED IN SECTION SIX HUNDRED THIRTY-
 TWO OF THIS ARTICLE AND IN SUBDIVISION FOURTEEN OF SECTION  SIX  HUNDRED
 THIRTY-EIGHT OF THIS ARTICLE.
   3.  THE  TRUST SHALL ENSURE THAT ANY HOUSING FACILITIES TRANSFERRED TO
 THE TRUST PURSUANT TO THIS SECTION AND ANY PORTIONS THEREOF  ARE  LEASED
 IN  ACCORDANCE WITH UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVEL-
 OPMENT ELIGIBILITY AND  INCOME-TARGETING  REQUIREMENTS,  TO  THE  EXTENT
 APPLICABLE  TO  THE UNITS THEREIN. RENTS FOR SUCH UNITS SHALL NOT EXCEED
 APPLICABLE PROGRAM REQUIREMENTS FOR THE PROVISION OF HOUSING FOR LOW-IN-
 COME FAMILIES AS ESTABLISHED PURSUANT TO FEDERAL  LAW  AND  REGULATIONS.
 A. 7805--A                          9
 
 WHERE  NYCHA  RULES,  REGULATIONS  OR  AGREEMENTS  EXCEED  THE  RESIDENT
 PROTECTION STANDARDS SET FORTH IN STATE OR FEDERAL LAW  OR  REGULATIONS,
 ANY HOUSING FACILITIES TRANSFERRED TO THE TRUST PURSUANT TO THIS SECTION
 AND ANY PORTIONS THEREOF SHALL BE LEASED IN ACCORDANCE WITH THE REQUIRE-
 MENTS  SET  FORTH  IN  THE  NYCHA  RULES, REGULATIONS, OR AGREEMENTS, AS
 APPLICABLE.
   4. PRIOR TO THE VOTING PROCESS AND THE TRANSFER OF ANY HOUSING FACILI-
 TY, OR ANY PART THEREOF, NYCHA SHALL ENGAGE  IN  A  COURSE  OF  RESIDENT
 ENGAGEMENT.  SUCH  RESIDENT  ENGAGEMENT  SHALL  INCLUDE:   (A) NOTICE OF
 PROPOSED OPTIONS ON THE WEBSITE OF NYCHA AND IN A PROMINENT LOCATION  OF
 THE  AFFECTED  HOUSING  FACILITY  IN  COMPLIANCE  WITH  LANGUAGE  ACCESS
 REQUIREMENTS IN FEDERAL AND STATE LAW, AS APPLICABLE;
   (B) A SUMMARY DESCRIPTION OF THE PROPOSED OPTIONS;
   (C) THE TIME AND PLACE OF AT LEAST ONE PUBLIC MEETING AT  WHICH  NYCHA
 SHALL  PROVIDE RESIDENTS OF SUCH FACILITY INFORMATION ABOUT THE PROPOSED
 OPTIONS AND AN OPPORTUNITY TO  PROVIDE  ORAL  COMMENT  ON  THE  PROPOSED
 TRANSFER;
   (D)  NOTIFICATION  BY  MAIL TO ALL RESIDENTS OF SUCH HOUSING FACILITY,
 WHICH SHALL INCLUDE INFORMATION DETAILING THE PROPOSED OPTIONS; AND
   (E) AN OPPORTUNITY FOR RESIDENTS TO SUBMIT WRITTEN  COMMENTS  AND  THE
 FINAL  DATE  FOR  SUBMISSION  OF SUCH COMMENTS. NYCHA SHALL CONSIDER AND
 RESPOND TO ALL COMMENTS RECEIVED IN SUCH PERIOD PRIOR  TO  COMPLETING  A
 TRANSFER PURSUANT TO THIS SUBDIVISION.
   5. WITHIN SIXTY DAYS OF THE EFFECTIVE DATE OF THIS ARTICLE, NYCHA WILL
 ISSUE  A SET OF PROPOSED REQUIREMENTS RELATED TO THE VOTING ELIGIBILITY,
 FORM, SUBSTANCE, AND TIMING OF THE VOTING  PROCESS  BY  RESIDENTS  OF  A
 PARTICULAR  HOUSING FACILITY FOR A MODERNIZATION STRATEGY THAT ADDRESSES
 THE CAPITAL NEEDS OF THE HOUSING FACILITY. THERE WILL BE A COMMENT PERI-
 OD FOR THE VOTING PROCESS, AND THE COMMENT PERIOD SHALL INCLUDE AT LEAST
 ONE MEETING OPEN TO THE PUBLIC. NYCHA WILL CONSIDER THE COMMENTS  BEFORE
 ISSUANCE OF THE FINAL REQUIREMENTS FOR THE VOTING PROCESS. THE COMMENTS,
 AND THE RESPONSES TO SUCH COMMENTS, SHALL BE PUBLISHED PUBLICLY, INCLUD-
 ING,  BUT NOT LIMITED TO, ON NYCHA'S WEBSITE.  WITHIN ONE HUNDRED TWENTY
 DAYS OF THE EFFECTIVE DATE OF THIS ARTICLE, THE FINAL  REQUIREMENTS  FOR
 THE  VOTING  PROCESS  SHALL BE POSTED. THE VOTING PROCESS SHALL INCLUDE,
 BUT WILL NOT BE LIMITED TO, THE ABILITY OF  RESIDENTS  AT  A  PARTICULAR
 HOUSING  FACILITY  TO  REJECT  THE  OPTIONS PROPOSED FOR THAT PARTICULAR
 HOUSING FACILITY SUBMITTED AS PART OF THE VOTING PROCESS. IF ALL OPTIONS
 ARE REJECTED AT THAT PARTICULAR HOUSING FACILITY, NONE OF  THE  PROPOSED
 OPTIONS  WILL  BE  IMPLEMENTED AT THAT PARTICULAR HOUSING FACILITY UNTIL
 ANOTHER VOTE IS UNDERTAKEN AT  THAT  PARTICULAR  HOUSING  FACILITY.  THE
 TRUST  SHALL NOT TRANSFER, CONVEY, ASSIGN, MORTGAGE, PLEDGE OR OTHERWISE
 ENCUMBER ANY INTEREST IN, OR PERMIT OR SUFFER ANY TRANSFER,  CONVEYANCE,
 ASSIGNMENT,  MORTGAGE,  PLEDGE  OR  OTHER ENCUMBRANCE OF ANY INTEREST IN
 THAT PARTICULAR HOUSING FACILITY, OR ANY  PART  THEREOF,  PRIOR  TO  THE
 POSTING  OF  THE FINAL REQUIREMENTS FOR THE VOTING PROCESS, PRIOR TO THE
 VOTE AT THAT PARTICULAR HOUSING FACILITY, AND PRIOR TO THE  SATISFACTION
 OF APPLICABLE FEDERAL LAW AND REGULATIONS.
   §  631.  EXEMPTION  FROM LAND USE REVIEW PROCEDURES AND OTHER REQUIRE-
 MENTS. 1. EXCEPT FOR THE PROVISIONS OF ARTICLE  EIGHT  OF  THE  ENVIRON-
 MENTAL  CONSERVATION  LAW  AND ARTICLE FOURTEEN OF THE PARKS, RECREATION
 AND HISTORIC PRESERVATION LAW, NEITHER (A) THE ESTABLISHMENT  OR  AMEND-
 MENT  OF  A  HOUSING  FACILITY'S DISPOSITION OR SIMILAR PLAN PURSUANT TO
 AGREEMENT WITH THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN  DEVEL-
 OPMENT  AND ACTIONS RELATING TO THE FINANCING THEREOF, (B) THE SELECTION
 OF SITES FOR PROJECTS, (C) ANY CONVEYANCE OR OTHER GRANT OF PROPERTY  OR
 A. 7805--A                         10
 
 OF  ANY INTEREST THEREIN BY NYCHA OR ANY OTHER PERSON, FIRM OR ORGANIZA-
 TION TO THE TRUST, (D) THE  DEVELOPMENT  OF  HOUSING  FACILITIES  BY  OR
 THROUGH  THE TRUST, INCLUDING ANY CONTRACTS, APPROVALS, CONSENTS, AGREE-
 MENTS,  PERMITS  OR AUTHORIZATIONS NECESSARY TO ACCOMPLISH THE SAME, AND
 (E) THE RECONVEYANCE OR TRANSFER OF PROPERTY  TO  NYCHA  BY  THE  TRUST,
 SHALL BE SUBJECT TO THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL LAW,
 CITY  CHARTER,  ADMINISTRATIVE  CODE,  ORDINANCE OR RESOLUTION GOVERNING
 UNIFORM LAND USE REVIEW PROCEDURES, ANY OTHER LAND USE  PLANNING  REVIEW
 AND  APPROVALS, HISTORIC PRESERVATION PROCEDURES, ARCHITECTURAL REVIEWS,
 FRANCHISE APPROVALS AND OTHER STATE OR LOCAL REVIEW AND APPROVAL  PROCE-
 DURES  GOVERNING THE USE OF LAND AND THE IMPROVEMENTS THEREON WITHIN THE
 CITY. CAPITAL PROJECTS FOR HOUSING FACILITIES TO  BE  UNDERTAKEN  BY  OR
 THROUGH THE TRUST SHALL NOT BE SUBJECT TO THE PROVISIONS OF THE NEW YORK
 CITY CHARTER RELATING TO SITE SELECTION, LAND USE REVIEW PROCEDURES, ART
 COMMISSION REVIEW PROCEDURES, GENERAL STANDARDS AND COST LIMITS, PROJECT
 SCOPE  AND  DESIGN  PROCEDURES,  OR CONTRACT REGISTRATION AND VOUCHERING
 PROCEDURES.
   2. THE TRUST SHALL BE SUBJECT TO ZONING REGULATIONS TO THE SAME EXTENT
 THAT NYCHA IS SUBJECT TO SUCH REGULATIONS.
   § 632. RESIDENT PROTECTIONS  AND  OPPORTUNITIES.  1.  THE  PROTECTIONS
 AFFORDED  TO  A  RESIDENT OF A HOUSING FACILITY SHALL BE CONSISTENT WITH
 THOSE AFFORDED TO A PUBLIC HOUSING RESIDENT, TO THE EXTENT PERMITTED  IN
 ACCORDANCE WITH FEDERAL LAW, AND SUBJECT TO AND WITH THE APPROVAL OF THE
 UNITED  STATES  DEPARTMENT  OF  HOUSING  AND  URBAN  DEVELOPMENT.  THESE
 PROTECTIONS SHALL INCLUDE, BUT ARE NOT LIMITED TO:
   (A) PRESERVING THE AFFORDABLE CHARACTER OF SUCH  HOUSING  FACILITY  IN
 ACCORDANCE  WITH SECTION EIGHT OF THE UNITED STATES HOUSING ACT OF NINE-
 TEEN HUNDRED THIRTY-SEVEN, AS AMENDED, OR ANY  SUCCESSOR  PROVISION  AND
 WITH  PART  FIVE OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS
 OR ANY SUCCESSOR REGULATION;
   (B) ENSURING THAT ANY RESIDENT REQUIRED TO  RELOCATE  TEMPORARILY  FOR
 PURPOSES  OF REHABILITATION OR REDEVELOPMENT OF SUCH HOUSING FACILITY IS
 ABLE TO RETURN TO SUCH HOUSING FACILITY FOLLOWING THE COMPLETION OF SUCH
 REHABILITATION OR REDEVELOPMENT, AND THAT  THE  RELOCATION  EXPENSES  OF
 SUCH  TEMPORARY RELOCATION BE PAID FOR BY THE TRUST OR NYCHA AS REQUIRED
 BY APPLICABLE FEDERAL LAW;
   (C) PROVIDING A RESIDENT OF SUCH HOUSING FACILITY THE  OPPORTUNITY  TO
 ESTABLISH  AND  OPERATE A COUNCIL TO REPRESENT RESIDENTS IN SUCH HOUSING
 FACILITY TO ADDRESS CONCERNS RELATING  TO  SUCH  FACILITY,  PURSUANT  TO
 SUBPART  B  OF  PART NINE HUNDRED SIXTY-FOUR OF TITLE TWENTY-FOUR OF THE
 CODE OF FEDERAL REGULATIONS OR  ANY  SUCCESSOR  REGULATION,  AND  TO  BE
 ELIGIBLE  FOR  RESIDENT  PARTICIPATION FUNDING FROM THE TRUST CONSISTENT
 WITH FUNDING AVAILABLE  TO  RESIDENTS  OF  PUBLIC  HOUSING  PURSUANT  TO
 SECTION  964.150 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS
 OR ANY SUCCESSOR REGULATION, PROVIDED THAT ANY RESIDENT COUNCIL THAT, AT
 THE TIME OF THE TRANSFER OF A HOUSING FACILITY TO THE TRUST,  IS  CERTI-
 FIED  BY  NYCHA AS THE RESIDENT COUNCIL SHALL BE RECOGNIZED BY THE TRUST
 AS THE RESIDENT COUNCIL OF SUCH HOUSING FACILITY;
   (D) PROVIDING A RESIDENT OF A HOUSING FACILITY AN OPPORTUNITY  FOR  AN
 INFORMAL  HEARING TO GRIEVE ANY DISPUTE THAT SUCH RESIDENT MAY HAVE WITH
 RESPECT TO AN ACTION OF THE TRUST WITH REGARD TO SUCH RESIDENT'S  LEASE,
 CONSISTENT  WITH  THE  OBLIGATION OF A PUBLIC HOUSING AGENCY PURSUANT TO
 PARAGRAPH EIGHT OF SUBDIVISION (E) OF SECTION 966.4 OF TITLE TWENTY-FOUR
 OF THE CODE OF FEDERAL REGULATIONS OR ANY  SUCCESSOR  REGULATIONS    AND
 PURSUANT  TO  SUBPART  B OF PART NINE HUNDRED SIXTY-SIX OF TITLE TWENTY-
 FOUR OF THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATIONS;
 A. 7805--A                         11
 
   (E) PROVIDING A RESIDENT OF A HOUSING FACILITY  AUTOMATIC  RENEWAL  OF
 SUCH  RESIDENT'S LEASES, EXCEPT FOR GOOD CAUSE AS SPECIFIED IN THE LEASE
 BETWEEN SUCH RESIDENT AND THE TRUST, CONSISTENT  WITH  THE  REQUIREMENTS
 RELATING  TO  A  LEASE BETWEEN A PUBLIC HOUSING AGENCY AND A TENANT OF A
 DWELLING  UNIT PURSUANT TO SUBPARAGRAPH (I) OF PARAGRAPH TWO OF SUBDIVI-
 SION (A) AND SUBDIVISION (L) OF SECTION 966.4 OF  TITLE  TWENTY-FOUR  OF
 THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATION;
   (F) DETERMINING SUCCESSION TO A LEASE BETWEEN A RESIDENT AND THE TRUST
 IN  ACCORDANCE  WITH  THE  SUCCESSION POLICY DESCRIBED IN THE MANAGEMENT
 MANUAL, AND ANY AMENDMENTS TO SUCH MANUAL, OF NYCHA;
   (G) PERMITTING A RESIDENT WHOSE TOTAL TENANT PAYMENT,  AS  DEFINED  IN
 SECTION  983.3  OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS,
 OR ANY SUCCESSOR REGULATIONS, WOULD EQUAL OR EXCEED THE RENT  TO  OWNER,
 AS  DEFINED IN SECTION 983.3 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS OR ANY SUCCESSOR REGULATIONS, TO REMAIN IN A HOUSING FACILI-
 TY AND PAY RENT IN AN AMOUNT TO BE DETERMINED BY THE TRUST AND NYCHA AND
 AS SET FORTH IN THE LEASE OF SUCH RESIDENT; AND
   (H) DETERMINING SUCCESSION TO A VOUCHER PURSUANT TO SECTION  EIGHT  OF
 THE  UNITED  STATES  HOUSING  ACT  OF  NINETEEN HUNDRED THIRTY-SEVEN, AS
 AMENDED, OR ANY SUCCESSOR PROVISION,  IN  ACCORDANCE  WITH  THE  HOUSING
 VOUCHER PROGRAM ADMINISTRATIVE PLAN, AND ANY AMENDMENTS TO SUCH PLAN, OF
 NYCHA.
   2.  THE  RESIDENT  PROTECTIONS  DESCRIBED  IN  SUBDIVISION ONE OF THIS
 SECTION SHALL BE ENUMERATED IN THE GROUND  LEASE  OR  OTHER  APPROPRIATE
 AGREEMENT BETWEEN NYCHA AND THE TRUST AND SHALL BE FURTHER ENUMERATED IN
 WRITING  BETWEEN  THE  TRUST  AND  EACH  RESIDENT OF A HOUSING FACILITY.
 NOTHING IN THIS SECTION SHALL PRECLUDE THE TRUST OR NYCHA FROM PROVIDING
 ADDITIONAL RESIDENT PROTECTIONS, WHICH MAY BE  ENUMERATED  IN  ANY  SUCH
 GROUND LEASE OR AGREEMENT.
   3.  THE  TRUST,  TO  THE GREATEST EXTENT FEASIBLE, AND CONSISTENT WITH
 FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, SHALL ENSURE THAT EMPLOY-
 MENT AND OTHER ECONOMIC OPPORTUNITIES BE DIRECTED TO  RESIDENTS  OF  THE
 HOUSING  FACILITIES,  CONSISTENT  WITH  SECTION THREE OF THE HOUSING AND
 URBAN DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS  AMENDED,  AND
 PART  SEVENTY-FIVE  OF  TITLE  TWENTY-FOUR  OF THE CODE OF FEDERAL REGU-
 LATIONS OR ANY SUCCESSOR LAW OR REGULATION. ALL PROJECT LABOR AGREEMENTS
 SHALL BE CONSISTENT WITH THIS SUBDIVISION.
   4. THE TRUST SHALL ACT IN ACCORDANCE WITH  THE  FULL  REQUIREMENTS  OF
 PART NINE HUNDRED SIXTY-FOUR OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS  OR  ANY  SUCCESSOR REGULATION. THE TRUST SHALL, AMONG OTHER
 REQUIREMENTS, SUPPORT RESIDENT PARTICIPATION IN THE  OPERATIONS  OF  THE
 HOUSING  FACILITIES  AND  NEGOTIATE, WITH ANY RESIDENT MANAGEMENT CORPO-
 RATIONS, OR EQUIVALENT THAT SATISFIES THE REQUIREMENTS OF SUCH PART, FOR
 OPERATION OF A HOUSING FACILITY. THE TRUST SHALL  CONSIDER  APPLICATIONS
 OF RESIDENT ORGANIZATIONS, COMMUNITY ORGANIZATIONS OR OTHER LOCAL ORGAN-
 IZATIONS FOR GRANT FUNDING, AS AVAILABLE, TO PROVIDE TRAINING, TECHNICAL
 ASSISTANCE,  AND  EDUCATION  TO  RESIDENTS  TO  SUPPORT  ACTIVE RESIDENT
 PARTICIPATION IN THE PLANNING AND IMPLEMENTATION OF THE CONVERSION PROC-
 ESS.
   5. THE TRUST SHALL ENSURE RESIDENTS  PARTICIPATE  IN  THE  PROCESS  TO
 PROCURE THE VENDORS THAT WILL PERFORM CAPITAL RENOVATION, MODERNIZATION,
 AND CONSTRUCTION WORK, EXCLUDING EMERGENCY PROCUREMENTS.
   6.  THE  TRUST SHALL CREATE COMMITTEES CONSISTING OF MEMBERS AS APPRO-
 PRIATE, WHICH SHALL INCLUDE, BUT NOT BE LIMITED TO, TRUST EMPLOYEES  AND
 RESIDENTS  OF  THE  HOUSING FACILITY WHERE CONSTRUCTION, RECONSTRUCTION,
 REHABILITATION, ALTERATION, RENOVATION, MAINTENANCE AND REPAIR  WORK  IS
 A. 7805--A                         12
 
 BEING  PERFORMED,  AND  SUCH  COMMITTEES SHALL MEET AS NEEDED TO PROVIDE
 INPUT, AND OVERSIGHT, ALONG WITH RECOMMENDATIONS, WITH  RESPECT  TO  THE
 QUALITY OF SUCH WORK PERFORMED BY THE VENDORS OF THE TRUST.
   §  633.  COMPLIANCE  WITH  CODES.   1. THE TRUST SHALL, IN THE DESIGN,
 DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION,  IMPROVEMENT,  MODERNIZATION,
 REHABILITATION,  REPAIR,  AND  OPERATION  OF  OR OTHERWISE PROVIDING FOR
 HOUSING FACILITIES, COMPLY AND CAUSE ALL CONTRACTORS  OF  THE  TRUST  TO
 COMPLY WITH APPLICABLE SANITARY AND BUILDING LAWS AND REGULATIONS.
   2. THE TRUST SHALL ADOPT RULES OR REGULATIONS ESTABLISHING SUSTAINABLE
 DESIGN  GUIDELINES  FOR  THE  DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION,
 IMPROVEMENT, MODERNIZATION, REHABILITATION, REPAIR, AND OPERATION OF, OR
 OTHERWISE PROVIDING FOR, HOUSING FACILITIES, WHICH SHALL INCLUDE  CRITE-
 RIA  FOR  BENEFICIAL  ELECTRIFICATION AND RENEWABLE ENERGY PRODUCTION IN
 FURTHERANCE OF THE GOALS OF DECARBONIZED BUILDINGS, USE  OF  SUSTAINABLE
 MATERIALS, AND ENERGY AND WATER EFFICIENCY.
   § 634. CONTRACTS OF THE TRUST. 1. NOTWITHSTANDING ANY PROVISION OF LAW
 TO  THE  CONTRARY,  THE  TRUST  SHALL ESTABLISH AND MAINTAIN PROCUREMENT
 POLICIES THAT SHALL SET FORTH THE METHODS AND PROCEDURES  BY  WHICH  THE
 TRUST  SHALL PROCURE CONTRACTS FOR GOODS AND SERVICES, INCLUDING BUT NOT
 LIMITED  TO  SERVICES  FOR  DESIGN,  DEVELOPMENT,  CONSTRUCTION,  RECON-
 STRUCTION, IMPROVEMENT, MODERNIZATION, REHABILITATION, REPAIR AND OPERA-
 TION,  RELATED  TO  PROPERTY  OWNED  OR LEASED BY THE TRUST, IN A MANNER
 CONSISTENT WITH THE PROVISIONS OF THIS ARTICLE.    SUCH  POLICIES  SHALL
 SPECIFICALLY INCLUDE:
   (A) A COMPETITIVE SEALED BIDDING PROCESS FOR THE AWARD OF CONTRACTS IN
 WHICH  SEALED  BIDS  ARE  PUBLICLY SOLICITED OR SOLICITED FROM A LIST OF
 PREQUALIFIED BIDDERS AND OPENED AND A CONTRACT IS AWARDED TO THE  LOWEST
 RESPONSIVE, RESPONSIBLE BIDDER;
   (B)  PROCESSES  FOR  AWARDING  CONTRACTS  FOR GOODS AND SERVICES USING
 ALTERNATIVES TO COMPETITIVE  SEALED  BIDDING  WHERE  COMPETITIVE  SEALED
 BIDDING  IS NOT PRACTICABLE OR NOT ADVANTAGEOUS, IN WHICH CASE THE TRUST
 SHALL USE THE MOST COMPETITIVE METHOD OF PROCUREMENT THAT IS APPROPRIATE
 UNDER THE CIRCUMSTANCES TO SELECT THE PROPOSER OFFERING THE  BEST  VALUE
 TO THE TRUST;
   (C)  A PROCESS FOR PREQUALIFYING BIDDERS AND PROPOSERS BASED ON CRITE-
 RIA, WHICH MAY INCLUDE AN ENTITY'S EXPERIENCE, PAST PERFORMANCE, ABILITY
 TO UNDERTAKE WORK, FINANCIAL CAPABILITY, RESPONSIBILITY, RELIABILITY AND
 STATUS AS A CERTIFIED MINORITY OR WOMEN OWNED BUSINESS ENTERPRISE PURSU-
 ANT TO ARTICLE FIFTEEN-A  OF  THE  EXECUTIVE  LAW  OR  SECTION  THIRTEEN
 HUNDRED FOUR OF THE NEW YORK CITY CHARTER;
   (D)  REASONABLE  PROCEDURES  TO SECURE THE MEANINGFUL PARTICIPATION OF
 MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES IN THE TRUST'S PROCUREMENT
 PROCESS.  THE TRUST MAY USE THE SAME MEASURES TO  ENHANCE  MINORITY  AND
 WOMEN  OWNED  BUSINESS  ENTERPRISE PARTICIPATION AS ARE AVAILABLE TO THE
 CITY PURSUANT TO APPLICABLE LAW, INCLUDING SECTION 6-129 OF THE ADMINIS-
 TRATIVE CODE OF THE CITY OF NEW YORK;
   (E) PROCESSES FOR AWARDING ALTERNATIVE PROJECT DELIVERY CONTRACTS,  IN
 A MANNER CONSISTENT WITH THE TERMS OF SECTION SIX HUNDRED THIRTY-FIVE OF
 THIS ARTICLE;
   (F)  PROCEDURES  FOR  THE  FAIR  AND  EQUITABLE RESOLUTION OF CONTRACT
 DISPUTES, FOR APPEALS  OF  RESPONSIVENESS  AND  RESPONSIBILITY  DETERMI-
 NATIONS  BY  THE  TRUST,  AND  FOR  APPEALS OF PREQUALIFICATION DETERMI-
 NATIONS;
   (G) A PROCESS FOR MAKING PURCHASES OFF CONTRACTS  PROCURED  BY  PUBLIC
 AGENCIES AND PUBLIC ENTITIES; AND
 A. 7805--A                         13
 
   (H)  A MECHANISM FOR PROCUREMENTS WITHOUT A FORMAL COMPETITIVE PROCESS
 WHERE:
   (1)  THE EXISTENCE OF AN EMERGENCY INVOLVING DANGER TO LIFE, SAFETY OR
 PROPERTY REQUIRES IMMEDIATE ACTION AND CANNOT AWAIT A COMPETITIVE  PROC-
 ESS  FOR  GOODS  OR SERVICES TO BE PURCHASED, INCLUDING, BUT NOT LIMITED
 TO, SERVICES FOR CONSTRUCTION,  RECONSTRUCTION,  REHABILITATION,  ALTER-
 ATION,  RENOVATION, MAINTENANCE OR REPAIRS, WHICH ARE ESSENTIAL TO EFFI-
 CIENT OPERATION OR THE ADEQUATE PROVISION OF SERVICE BY THE TRUST AND AS
 A CONSEQUENCE OF UNFORESEEN CIRCUMSTANCE SUCH PURCHASE  CANNOT  AWAIT  A
 COMPETITIVE PROCESS;
   (2) A PROCUREMENT'S VALUE DOES NOT EXCEED FIFTY THOUSAND DOLLARS;
   (3)  THE TRUST RECEIVES NO RESPONSIVE BIDS OR ONLY A SINGLE RESPONSIVE
 BID IN RESPONSE TO A SOLICITATION FOR COMPETITIVE BIDS OR PROPOSALS;
   (4) A PROCUREMENT'S  VALUE  DOES  NOT  EXCEED  FIVE  HUNDRED  THOUSAND
 DOLLARS  AND  IS  MADE  FROM A BUSINESS CERTIFIED AS A MINORITY OR WOMEN
 OWNED BUSINESS ENTERPRISE PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE
 LAW AND SECTION THIRTEEN HUNDRED FOUR OF  THE  NEW  YORK  CITY  CHARTER.
 NOTHING  IN THIS PARAGRAPH SHALL BE CONSTRUED TO REQUIRE THAT SUCH BUSI-
 NESS BE CONCURRENTLY CERTIFIED  AS  MINORITY  OR  WOMEN  OWNED  BUSINESS
 ENTERPRISES  UNDER  ARTICLE  FIFTEEN-A  OF THE EXECUTIVE LAW AND SECTION
 THIRTEEN HUNDRED FOUR OF THE NEW YORK CITY CHARTER TO BE AWARDED SUCH  A
 CONTRACT;
   (5) A DULY APPOINTED REPRESENTATIVE OF THE TRUST DETERMINES IN WRITING
 THAT, BASED ON A MARKET ANALYSIS, ONLY ONE SOURCE FOR THE REQUIRED GOODS
 OR  SERVICES,  INCLUDING  BUT NOT LIMITED TO, SERVICES FOR CONSTRUCTION,
 RECONSTRUCTION, REHABILITATION, ALTERATION, RENOVATION, MAINTENANCE  AND
 REPAIRS, ARE AVAILABLE; OR
   (6)  THE  CONTRACT IS A CONTRACT BETWEEN THE TRUST AND ANOTHER GOVERN-
 MENTAL ENTITY, INCLUDING, BUT NOT LIMITED TO NYCHA.
   2. ADDITIONAL REQUIREMENT FOR ALTERNATIVE PROJECT  DELIVERY  CONTRACTS
 OR  CONTRACTS  AWARDED BY COMPETITIVE SEALED BID. CONSTRUCTION PERFORMED
 UNDER A CONTRACT ENTERED INTO BY THE  TRUST  PURSUANT  TO  THIS  ARTICLE
 SHALL  BE  DEEMED  A  PUBLIC WORK TO BE PERFORMED IN ACCORDANCE WITH THE
 PROVISIONS OF ARTICLE EIGHT OF THE LABOR LAW,  AS  WELL  AS  SUBJECT  TO
 SECTIONS  TWO  HUNDRED, TWO HUNDRED FORTY, TWO HUNDRED FORTY-ONE AND TWO
 HUNDRED FORTY-TWO OF THE LABOR LAW AND ENFORCEMENT  OF  PREVAILING  WAGE
 REQUIREMENTS PURSUANT TO APPLICABLE LAW OR, FOR PROJECTS OR PUBLIC WORKS
 RECEIVING  FEDERAL  AID,  APPLICABLE FEDERAL REQUIREMENTS FOR PREVAILING
 WAGE. ANY CONTRACT ENTERED INTO BY COMPETITIVE SEALED BID OR PURSUANT TO
 SECTION SIX HUNDRED THIRTY-FIVE OF THIS  ARTICLE,  SHALL  BE  UNDERTAKEN
 PURSUANT TO A PROJECT LABOR AGREEMENT AND INCLUDE A CLAUSE REQUIRING THE
 SELECTED  ALTERNATIVE PROJECT DELIVERY CONTRACTOR OR SELECTED SEALED BID
 CONTRACTOR TO OBLIGATE EVERY TIER OF CONTRACTOR WORKING  ON  THE  PUBLIC
 WORK  TO COMPLY WITH THE PROJECT LABOR AGREEMENT REQUIRED BY SECTION SIX
 HUNDRED THIRTY-FIVE OF THIS ARTICLE AND THIS SECTION, AND SHALL  INCLUDE
 PROJECT LABOR AGREEMENT COMPLIANCE MONITORING AND ENFORCEMENT PROVISIONS
 CONSISTENT WITH ANY SUCH PROJECT LABOR AGREEMENT.
   3. CONTRACTS OF THE TRUST SHALL BE SUBJECT TO SECTIONS 6-108 AND 6-123
 OF  THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, AND THE TRUST SHALL
 CONSTITUTE A "CONTRACTING AGENCY" FOR THE PURPOSES OF SECTION  6-123  OF
 THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   4.  THE PROVISIONS OF SECTION ONE HUNDRED SIX-B OF THE GENERAL MUNICI-
 PAL LAW SHALL APPLY TO THE TRUST.
   5. UNLESS A FEDERAL REQUIREMENT CONFLICTS WITH ANY PROCUREMENT  PROCE-
 DURE  SET  FORTH  IN THIS ARTICLE, THE TRUST SHALL BE REQUIRED TO COMPLY
 WITH SUCH PROCEDURE.
 A. 7805--A                         14
 
   § 635. ALTERNATIVE PROJECT DELIVERY CONTRACTS. 1.  NOTWITHSTANDING ANY
 PROVISION OF LAW TO THE CONTRARY, INCLUDING BUT NOT LIMITED  TO  SECTION
 SEVENTY-TWO HUNDRED TEN OF THE EDUCATION LAW, AND IN CONFORMITY WITH THE
 REQUIREMENTS OF THIS ARTICLE, FOR ANY PUBLIC WORK UNDERTAKEN PURSUANT TO
 A PROJECT LABOR AGREEMENT THE TRUST MAY USE ALTERNATIVE PROJECT DELIVERY
 CONTRACTS.
   (A)  A  CONTRACTOR  SELECTED BY THE TRUST TO ENTER INTO AN ALTERNATIVE
 PROJECT DELIVERY CONTRACT MAY BE SELECTED THROUGH A TWO-STEP METHOD,  AS
 FOLLOWS:
   (1)  STEP  ONE.  THE  FIRST  STEP SHALL BE THE GENERATION OF A LIST OF
 RESPONDING ENTITIES THAT HAVE DEMONSTRATED  THE  GENERAL  CAPABILITY  TO
 PERFORM  THE  ALTERNATIVE  PROJECT  DELIVERY CONTRACT.   SUCH LIST SHALL
 CONSIST OF A SPECIFIED NUMBER OF RESPONDING ENTITIES, AS  DETERMINED  BY
 THE  TRUST,  AND  SHALL  BE  GENERATED  BASED UPON THE TRUST'S REVIEW OF
 RESPONSES TO A  PUBLICLY  ADVERTISED  REQUEST  FOR  QUALIFICATIONS.  THE
 TRUST'S  REQUEST  FOR QUALIFICATIONS SHALL INCLUDE A GENERAL DESCRIPTION
 OF THE PUBLIC WORK, THE MAXIMUM NUMBER  OF  RESPONDING  ENTITIES  TO  BE
 INCLUDED  ON  SUCH LIST, THE SELECTION CRITERIA TO BE USED AND THE RELA-
 TIVE WEIGHT OF EACH CRITERIA IN GENERATING  SUCH  LIST.  SUCH  SELECTION
 CRITERIA  SHALL  INCLUDE THE QUALIFICATIONS AND EXPERIENCE OF THE ENTITY
 OR TEAM OF ENTITIES, ORGANIZATION, DEMONSTRATED RESPONSIBILITY,  ABILITY
 OF THE ENTITY OR TEAM OF ENTITIES OR OF A MEMBER OR MEMBERS OF THE ENTI-
 TY OR TEAM OF ENTITIES TO COMPLY WITH APPLICABLE REQUIREMENTS, INCLUDING
 THE  PROVISIONS  OF  ARTICLES ONE HUNDRED FORTY-FIVE, ONE HUNDRED FORTY-
 SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW, PAST  RECORD  OF
 COMPLIANCE  WITH  THE LABOR LAW, AND SUCH OTHER QUALIFICATIONS THE TRUST
 DEEMS APPROPRIATE, WHICH MAY INCLUDE BUT  ARE  NOT  LIMITED  TO  PROJECT
 UNDERSTANDING,  FINANCIAL CAPABILITY AND RECORD OF PAST PERFORMANCE. THE
 TRUST SHALL EVALUATE AND RATE ALL RESPONDING ENTITIES TO THE REQUEST FOR
 QUALIFICATIONS. BASED UPON  SUCH  RATINGS,  THE  TRUST  SHALL  LIST  THE
 RESPONDING  ENTITIES  THAT  SHALL  RECEIVE  A  REQUEST  FOR PROPOSALS IN
 ACCORDANCE WITH SUBPARAGRAPH  TWO  OF  THIS  PARAGRAPH.  TO  THE  EXTENT
 CONSISTENT  WITH  APPLICABLE FEDERAL LAW, THE TRUST SHALL CONSIDER, WHEN
 AWARDING ANY CONTRACT PURSUANT TO THIS SECTION, THE PARTICIPATION OF (I)
 RESPONDING ENTITIES THAT ARE CERTIFIED AS MINORITY OR WOMEN OWNED  BUSI-
 NESS  ENTERPRISES PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW, OR
 CERTIFIED PURSUANT TO LOCAL LAW AS  MINORITY  OR  WOMEN  OWNED  BUSINESS
 ENTERPRISES,  (II) SMALL BUSINESS CONCERNS IDENTIFIED PURSUANT TO SUBDI-
 VISION (B) OF SECTION ONE HUNDRED THIRTY-NINE-G  OF  THE  STATE  FINANCE
 LAW, AND (III) BUSINESS CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR
 LOW  AND  VERY  LOW-INCOME PERSONS. IN ADDITION, NOTHING IN THIS SECTION
 SHALL BE DEEMED TO SUPERSEDE ANY PREQUALIFICATION  POLICIES  ADOPTED  BY
 THE TRUST PURSUANT TO SECTION SIX HUNDRED THIRTY-FOUR OF THIS ARTICLE.
   (2)  STEP  TWO. THE SECOND STEP SHALL BE THE SELECTION OF THE PROPOSAL
 WHICH IS THE BEST VALUE TO THE TRUST. THE TRUST SHALL  ISSUE  A  REQUEST
 FOR PROPOSALS TO THE RESPONDING ENTITIES LISTED PURSUANT TO SUBPARAGRAPH
 ONE OF THIS PARAGRAPH. IF SUCH A RESPONDING ENTITY CONSISTS OF A TEAM OF
 SEPARATE  ENTITIES,  THE ENTITIES THAT COMPRISE SUCH A TEAM SHALL REMAIN
 UNCHANGED FROM THE RESPONDING ENTITY AS LISTED PURSUANT TO  SUBPARAGRAPH
 ONE  OF  THIS  PARAGRAPH  UNLESS  OTHERWISE  APPROVED  BY THE TRUST. THE
 REQUEST FOR PROPOSALS SHALL SET FORTH THE PUBLIC WORK'S SCOPE  OF  WORK,
 AND  OTHER  REQUIREMENTS,  AS DETERMINED BY THE TRUST, WHICH MAY INCLUDE
 SEPARATE GOALS FOR WORK UNDER THE CONTRACT TO BE PERFORMED BY BUSINESSES
 CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT  TO
 ARTICLE  FIFTEEN-A  OF THE EXECUTIVE LAW, OR CERTIFIED PURSUANT TO LOCAL
 LAW AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES,  OR  GOALS  ESTAB-
 A. 7805--A                         15
 
 LISHED  PURSUANT  TO  SECTION THREE OF THE HOUSING AND URBAN DEVELOPMENT
 ACT OF NINETEEN  HUNDRED  SIXTY-EIGHT,  AS  AMENDED,  OR  ANY  SUCCESSOR
 PROVISION,  IF  APPLICABLE. THE REQUEST FOR PROPOSALS SHALL ALSO SPECIFY
 THE  CRITERIA  TO  BE  USED  TO  EVALUATE THE RESPONSES AND THE RELATIVE
 WEIGHT OF EACH OF SUCH CRITERIA. SUCH CRITERIA SHALL INCLUDE:  THE QUAL-
 ITY OF THE PROPOSAL'S SOLUTION; THE QUALIFICATIONS AND EXPERIENCE OF THE
 PROPOSER; THE PROPOSAL'S COST, WHICH MAY INCLUDE  FACTORS  THAT  MAY  BE
 CONSIDERED  INDIVIDUALLY  OR IN THE AGGREGATE, SUCH AS THE PROPOSED COST
 OF DESIGN PHASE WORK, THE PROPOSED COST OF CONSTRUCTION PHASE  WORK,  OR
 COST  FACTORS  RELATING  TO  CONSTRUCTION PHASE WORK, AS APPLICABLE; AND
 OTHER FACTORS DEEMED PERTINENT BY THE  TRUST,  WHICH  MAY  INCLUDE,  BUT
 SHALL  NOT  BE LIMITED TO, THE PROPOSAL'S MANNER AND SCHEDULE OF PROJECT
 IMPLEMENTATION, THE PROPOSER'S ABILITY TO COMPLETE THE WORK IN A  TIMELY
 AND SATISFACTORY MANNER, MAINTENANCE COSTS OF THE COMPLETED PUBLIC WORK,
 MAINTENANCE  OF  TRAFFIC  APPROACH, AND COMMUNITY IMPACT.  THE TRUST MAY
 ENGAGE IN NEGOTIATIONS OR OTHER DISCUSSIONS WITH ALL  QUALIFIED  VENDORS
 THAT  HAVE EXPRESSED INTEREST, PROVIDED THAT THE TRUST MAINTAINS A WRIT-
 TEN RECORD OF THE CONDUCT OF NEGOTIATIONS OR DISCUSSIONS AND  THE  BASIS
 FOR EVERY DETERMINATION TO CONTINUE OR SUSPEND NEGOTIATIONS, AND FURTHER
 PROVIDED THAT IF THE TRUST DETERMINES FOR A PARTICULAR CONTRACT OR FOR A
 PARTICULAR  TYPE  OF CONTRACT THAT IT IS IN THE TRUST'S BEST INTEREST TO
 NEGOTIATE OR ENTER INTO DISCUSSIONS WITH FEWER PROPOSERS,  IT  MAY  MAKE
 SUCH  A  DETERMINATION IN WRITING. IF THE TRUST ENTERS INTO SUCH NEGOTI-
 ATIONS, THE TRUST SHALL ALLOW ALL PROPOSERS TO  REVISE  THEIR  PROPOSALS
 UPON CONCLUSION OF NEGOTIATIONS, AND THE TRUST SHALL EVALUATE THE PROPO-
 SERS'  REVISED  PROPOSALS USING THE CRITERIA INCLUDED IN THE REQUEST FOR
 PROPOSALS.   ANY CONTRACT AWARDED PURSUANT  TO  THIS  SECTION  SHALL  BE
 AWARDED  TO  A  RESPONSIVE AND RESPONSIBLE PROPOSER, WHICH, IN CONSIDER-
 ATION OF THESE AND OTHER SPECIFIED CRITERIA DEEMED PERTINENT, OFFERS THE
 BEST VALUE AS DETERMINED BY THE TRUST. THE REQUEST FOR  PROPOSALS  SHALL
 INCLUDE  A  STATEMENT  THAT  PROPOSERS  SHALL DESIGNATE IN WRITING THOSE
 PORTIONS OF THE PROPOSAL THAT CONTAIN TRADE SECRETS OR OTHER PROPRIETARY
 INFORMATION THAT ARE TO REMAIN CONFIDENTIAL, SO THAT THE MATERIAL DESIG-
 NATED AS CONFIDENTIAL SHALL BE  READILY  SEPARABLE  FROM  THE  PROPOSAL.
 NOTHING  IN  THIS  SUBDIVISION  SHALL BE CONSTRUED TO PROHIBIT THE TRUST
 FROM NEGOTIATING FINAL CONTRACT TERMS AND CONDITIONS INCLUDING COST. ALL
 PROPOSALS SUBMITTED SHALL BE SCORED ACCORDING TO THE CRITERIA LISTED  IN
 THE  REQUEST  FOR  PROPOSALS AND SUCH FINAL SCORES SHALL BE PUBLISHED ON
 THE TRUST'S WEBSITE AFTER THE DATE  UPON  WHICH  SUCH  CONTRACT  MAY  BE
 IMPLEMENTED.
   (B) THE TRUST, IN AWARDING AN ALTERNATIVE PROJECT DELIVERY CONTRACT TO
 A  CONTRACTOR  OFFERING  THE  BEST  VALUE MAY USE THE FOLLOWING TYPES OF
 CONTRACTS:
   (1) A COST-PLUS  NOT  TO  EXCEED  GUARANTEED  MAXIMUM  PRICE  FORM  OF
 CONTRACT  IN  WHICH THE TRUST SHALL BE ENTITLED TO MONITOR AND AUDIT ALL
 COSTS. IN ESTABLISHING THE SCHEDULE AND PROCESS FOR DETERMINING A  GUAR-
 ANTEED  MAXIMUM PRICE, THE CONTRACT BETWEEN THE TRUST AND THE CONTRACTOR
 SHALL INCLUDE TERMS SPECIFYING THE PRICE FOR THE  DESIGN  PHASE  OF  THE
 WORK, THE SCOPE OF THE WORK, AND ANY APPLICABLE COST FACTORS RELATING TO
 CONSTRUCTION PHASE WORK THAT WERE INCLUDED IN THE CONTRACTOR'S PROPOSAL.
 A  FAIR  AND  REASONABLE  GUARANTEED  MAXIMUM PRICE FOR THE CONSTRUCTION
 PHASE OF THE  WORK, OR PORTIONS OF THE CONSTRUCTION PHASE OF THE   WORK,
 MAY  BE  AGREED  TO  AS ONE OR MORE AMENDMENTS TO SUCH CONTRACT BASED ON
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT THAT OCCUR AFTER SUCH CONTRACT
 IS EXECUTED.  EACH  GUARANTEED  MAXIMUM  PRICE  AMENDMENT  SHALL:    (I)
 DESCRIBE THE SCOPE OF THE PORTION OF THE CONSTRUCTION PHASE WORK SUBJECT
 A. 7805--A                         16
 
 TO  THE  AMENDMENT,  THE  COST  OF PERFORMING SUCH WORK, AND THE MAXIMUM
 COSTS OF ANY CONTINGENCIES RELATED TO SUCH WORK, (II) INCLUDE A DETAILED
 LINE ITEM COST BREAKDOWN, (III) INCLUDE A LIST OF ALL DRAWINGS, SPECIFI-
 CATIONS  AND  OTHER INFORMATION ON WHICH THE GUARANTEED MAXIMUM PRICE IS
 BASED, (IV) INCLUDE THE DATES OF SUBSTANTIAL  AND  FINAL  COMPLETION  ON
 WHICH  THE  GUARANTEED  MAXIMUM  PRICE  IS BASED, AS APPLICABLE, AND (V)
 INCLUDE A SCHEDULE OF UNIT PRICES.  THE TRUST SHALL MAINTAIN  A  WRITTEN
 RECORD OF EACH GUARANTEED MAXIMUM PRICE AMENDMENT, WHICH SHALL INCLUDE A
 SUMMARY  OF  THE  NEGOTIATION  PROCESS AND A DESCRIPTION OF THE RELEVANT
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT,  INDEPENDENT  COST  ESTIMATES
 PREPARED  BY OR ON BEHALF OF THE TRUST, AS REQUIRED PURSUANT TO A POLICY
 ESTABLISHED BY THE TRUST, THE CONTRACTOR'S  ACTUAL  COST  SCHEDULES  AND
 UNIT  PRICES,  AND  ANY  OTHER FACTORS THAT THE TRUST CONSIDERED. IF THE
 TRUST AND THE CONTRACTOR CANNOT AGREE UPON A  GUARANTEED  MAXIMUM  PRICE
 FOR  ONE  OR  MORE  PORTIONS  OF  CONSTRUCTION PHASE WORK, THE TRUST MAY
 DIRECT THE CONTRACTOR TO ASSIGN ALL OR  A  PORTION  OF  THE  DUTIES  AND
 RIGHTS  UNDER  SUCH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT TO ANOTHER
 RESPONSIVE AND RESPONSIBLE PROPOSER  PURSUANT  TO  SUBPARAGRAPH  TWO  OF
 PARAGRAPH  (A)  OF  THIS  SUBDIVISION THAT OFFERED THE BEST VALUE OF THE
 REMAINING PROPOSERS AND THAT WILL AGREE TO ACCEPT SUCH ASSIGNMENT.  THIS
 SUBPARAGRAPH  SHALL  NOT  BE  DEEMED TO PROHIBIT THE USE OF ANY CONTRACT
 TERMS OR PROCEDURES PURSUANT TO ANY OTHER PROVISION  OF  LAW,  INCLUDING
 BUT NOT LIMITED TO PROVISIONS INCLUDED IN THIS ARTICLE;
   (2) A LUMP SUM CONTRACT IN WHICH THE CONTRACTOR AGREES TO ACCEPT A SET
 DOLLAR  AMOUNT  FOR  A  CONTRACT  WHICH  COMPRISES  A SINGLE BID WITHOUT
 PROVIDING A COST BREAKDOWN FOR ALL COSTS SUCH AS FOR  EQUIPMENT,  LABOR,
 MATERIALS,  AS WELL AS SUCH CONTRACTOR'S PROFIT FOR COMPLETING ALL ITEMS
 OF WORK COMPRISING THE PUBLIC WORK;
   (3) INCENTIVE PAYMENTS IDENTIFIED IN THE  TEXT  OF  THE  CONTRACT  FOR
 PERFORMANCE OBJECTIVES; OR
   (4) A COMBINATION OF ELEMENTS OF THE CONTRACT TYPES LISTED HEREIN.
   2. ALL ALTERNATIVE PROJECT DELIVERY CONTRACTS ENTERED INTO PURSUANT TO
 THIS  SECTION  SHALL  INCLUDE  A  CLAUSE REQUIRING THAT ANY PROFESSIONAL
 SERVICES REGULATED BY  ARTICLES  ONE  HUNDRED  FORTY-FIVE,  ONE  HUNDRED
 FORTY-SEVEN  AND  ONE  HUNDRED FORTY-EIGHT OF THE EDUCATION LAW SHALL BE
 PERFORMED AND STAMPED AND SEALED, WHERE APPROPRIATE, BY  A  PROFESSIONAL
 LICENSED IN ACCORDANCE WITH THE APPROPRIATE ARTICLE.
   3.  THE  SUBMISSION  OF A PROPOSAL OR RESPONSES OR THE EXECUTION OF AN
 ALTERNATIVE PROJECT DELIVERY CONTRACT PURSUANT TO THIS ARTICLE SHALL NOT
 BE CONSTRUED TO BE A VIOLATION OF  SECTION  SIX  THOUSAND  FIVE  HUNDRED
 TWELVE OF THE EDUCATION LAW.
   4.  EACH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT ENTERED INTO BY THE
 TRUST PURSUANT TO THIS ARTICLE SHALL  COMPLY  WITH  THE  OBJECTIVES  AND
 GOALS RELATING TO THE PERFORMANCE OF DESIGN AND CONSTRUCTION SERVICES BY
 MINORITY  AND WOMEN OWNED BUSINESS ENTERPRISES PURSUANT TO SECTION 6-129
 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, OR, FOR PROJECTS  OR
 PUBLIC  WORKS RECEIVING FEDERAL AID, APPLICABLE FEDERAL REQUIREMENTS FOR
 DISADVANTAGED BUSINESS ENTERPRISES OR MINORITY AND WOMEN OWNED  BUSINESS
 ENTERPRISES  AND  SECTION THREE OF THE HOUSING AND URBAN DEVELOPMENT ACT
 OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED, OR ANY SUCCESSOR PROVISION,
 IF APPLICABLE.
   5. (A) NOTWITHSTANDING ANY PROVISION  OF  LAW  TO  THE  CONTRARY,  ALL
 RIGHTS  OR  BENEFITS,  INCLUDING TERMS AND CONDITIONS OF EMPLOYMENT, AND
 PROTECTION OF CIVIL SERVICE AND  COLLECTIVE  BARGAINING  STATUS  OF  ALL
 EMPLOYEES OF NYCHA AND THE TRUST SOLELY IN CONNECTION WITH THE USE OF AN
 A. 7805--A                         17
 
 ALTERNATIVE  PROJECT DELIVERY CONTRACT PURSUANT TO THIS SECTION SHALL BE
 PRESERVED AND PROTECTED.
   (B) THE USE OF ALTERNATIVE PROJECT DELIVERY CONTRACTS PURSUANT TO THIS
 SECTION  SHALL  NOT  RESULT  IN  THE  (1)  DISPLACEMENT OF ANY CURRENTLY
 EMPLOYED  WORKER  OF  NYCHA  OR  LOSS  OF  POSITION,  INCLUDING  PARTIAL
 DISPLACEMENT  SUCH  AS  A  REDUCTION  IN THE HOURS OF NON-OVERTIME WORK,
 WAGES OR EMPLOYMENT BENEFITS, OR RESULT IN THE  IMPAIRMENT  OF  EXISTING
 COLLECTIVE  BARGAINING  AGREEMENTS  TO  WHICH  NYCHA  IS A PARTY, OR (2)
 TRANSFER OF EXISTING DUTIES AND FUNCTIONS  RELATED  TO  MAINTENANCE  AND
 OPERATIONS  CURRENTLY  PERFORMED  BY  EXISTING  EMPLOYEES  OF NYCHA TO A
 CONTRACTOR.
   (C) EMPLOYEES OF THE TRUST AND NYCHA SERVING  IN  POSITIONS  IN  NEWLY
 CREATED  TITLES  SHALL  BE  ASSIGNED TO THE APPROPRIATE BARGAINING UNIT.
 NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED TO AFFECT  (1)  THE
 EXISTING RIGHTS OF EMPLOYEES OF NYCHA PURSUANT TO AN EXISTING COLLECTIVE
 BARGAINING  AGREEMENT,  (2)  THE EXISTING REPRESENTATIONAL RELATIONSHIPS
 AMONG EMPLOYEE ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA, OR (3) THE
 BARGAINING RELATIONSHIPS BETWEEN NYCHA AND SUCH EMPLOYEE ORGANIZATIONS.
   (D)  WITHOUT  LIMITING  CONTRACTORS'  OBLIGATIONS  UNDER   ALTERNATIVE
 PROJECT  DELIVERY CONTRACTS TO ISSUE THEIR OWN INITIAL CERTIFICATIONS OF
 SUBSTANTIAL COMPLETION AND FINAL COMPLETION,  PUBLIC  EMPLOYEES  OF  THE
 TRUST  SHALL REVIEW AND DETERMINE WHETHER THE WORK PERFORMED BY CONTRAC-
 TORS IS ACCEPTABLE AND HAS BEEN PERFORMED IN ACCORDANCE WITH THE  APPLI-
 CABLE ALTERNATIVE PROJECT DELIVERY CONTRACTS, AND IF SUCH PUBLIC EMPLOY-
 EES  SO  DETERMINE,  SUCH  PUBLIC  EMPLOYEES  SHALL  ACCEPT CONTRACTORS'
 SUBSTANTIAL OR FINAL COMPLETION  OF  THE  PUBLIC  WORKS  AS  APPLICABLE.
 PERFORMANCE  BY PUBLIC EMPLOYEES OF THE TRUST OF ANY REVIEW DESCRIBED IN
 THIS SUBDIVISION SHALL NOT BE CONSTRUED TO MODIFY OR LIMIT  CONTRACTORS'
 OBLIGATIONS TO PERFORM THE WORK IN STRICT ACCORDANCE WITH THE APPLICABLE
 ALTERNATIVE PROJECT DELIVERY CONTRACT OR THE CONTRACTORS' OR ANY SUBCON-
 TRACTORS' OBLIGATIONS OR LIABILITIES UNDER ANY LAW.
   §  636.  ADDITIONAL  AUTHORITY. THE PROCUREMENT AUTHORITY CONFERRED BY
 THIS ARTICLE SHALL NOT IMPACT OR IMPAIR, AND SHALL BE  IN  ADDITION  TO,
 THE  AUTHORITY  CONFERRED  BY THE NYCHA MODERNIZATION INVESTMENT ACT AND
 THE NEW YORK CITY PUBLIC WORKS INVESTMENT ACT.
   §  637.  ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE  PROJECT  DELIVERY
 CONTRACTS.   CONSTRUCTION PERFORMED UNDER A CONTRACT ENTERED INTO BY THE
 TRUST PURSUANT TO THIS ARTICLE SHALL BE DEEMED A  "PUBLIC  WORK"  TO  BE
 PERFORMED  IN  ACCORDANCE  WITH  THE  PROVISIONS OF ARTICLE EIGHT OF THE
 LABOR LAW, AS WELL AS SUBJECT  TO  SECTIONS  TWO  HUNDRED,  TWO  HUNDRED
 FORTY,  TWO HUNDRED FORTY-ONE AND TWO HUNDRED FORTY-TWO OF THE LABOR LAW
 AND ENFORCEMENT OF PREVAILING WAGE REQUIREMENTS PURSUANT  TO  APPLICABLE
 LAW  OR,  FOR PROJECTS OR PUBLIC WORKS RECEIVING FEDERAL AID, APPLICABLE
 FEDERAL REQUIREMENTS FOR PREVAILING  WAGE.  ANY  CONTRACT  ENTERED  INTO
 PURSUANT  TO  SECTION  SIX  HUNDRED  THIRTY-FIVE  OF  THIS ARTICLE SHALL
 INCLUDE A CLAUSE REQUIRING THE  SELECTED  ALTERNATIVE  PROJECT  DELIVERY
 CONTRACTOR  TO  OBLIGATE  EVERY TIER OF CONTRACTOR WORKING ON THE PUBLIC
 WORK TO COMPLY WITH THE PROJECT LABOR AGREEMENT REQUIRED BY SECTION  SIX
 HUNDRED  THIRTY-FIVE  OF  THIS  ARTICLE, AND SHALL INCLUDE PROJECT LABOR
 AGREEMENT COMPLIANCE MONITORING AND  ENFORCEMENT  PROVISIONS  CONSISTENT
 WITH ANY SUCH PROJECT LABOR AGREEMENT.
   §  638. BORROWING BY THE TRUST AND FOR ITS BENEFIT; EFFECTS OF CERTAIN
 DEFAULTS. 1. FOR THE PURPOSES OF THIS SECTION, THE TERM "PROJECT"  MEANS
 THE  DEVELOPMENT,  DESIGN,  CONSTRUCTION,  RECONSTRUCTION,  IMPROVEMENT,
 REHABILITATION, REPAIRING AND OPERATION OF HOUSING FACILITIES.
 A. 7805--A                         18
 
   2. THE TRUST SHALL HAVE THE POWER AND IS HEREBY AUTHORIZED  FROM  TIME
 TO  TIME  TO  ISSUE BONDS, NOTES OR OTHER OBLIGATIONS IN CONFORMITY WITH
 APPLICABLE PROVISIONS OF THE UNIFORM COMMERCIAL CODE, IN SUCH  PRINCIPAL
 AMOUNTS  AS  IT  MAY  DETERMINE  TO  BE NECESSARY TO PAY THE COST OF ANY
 PROJECT  AND TO FUND RESERVES TO SECURE SUCH BONDS, NOTES OR OTHER OBLI-
 GATIONS, INCLUDING INCIDENTAL EXPENSES IN  CONNECTION  THEREWITH.    THE
 TRUST  SHALL HAVE THE POWER FROM TIME TO TIME TO REFUND ANY BONDS, NOTES
 OR OTHER OBLIGATIONS OF THE TRUST BY THE ISSUANCE OF NEW BONDS, NOTES OR
 OTHER OBLIGATIONS, AND MAY ISSUE BONDS, NOTES OR OTHER OBLIGATIONS PART-
 LY TO REFUND BONDS,  NOTES  OR  OTHER  OBLIGATIONS  OF  THE  TRUST  THEN
 OUTSTANDING  AND PARTLY TO PAY THE COST OF ANY PROJECT.  BONDS, NOTES OR
 OTHER OBLIGATIONS ISSUED BY THE TRUST SHALL BE PAYABLE AS MAY BE  DESIG-
 NATED  IN  THE  RESOLUTION  OF THE TRUST UNDER WHICH THE BONDS, NOTES OR
 OTHER OBLIGATIONS SHALL BE AUTHORIZED  TO  BE  ISSUED,  SUBJECT  TO  ANY
 AGREEMENTS  WITH  THE HOLDERS OF OUTSTANDING BONDS, NOTES OR OTHER OBLI-
 GATIONS PLEDGING ANY PARTICULAR REVENUES OR MONEYS.  NO BONDS, NOTES  OR
 OTHER  OBLIGATIONS OF THE TRUST OR ANY ENTITY REFERRED TO IN SUBDIVISION
 THIRTEEN OF SECTION SIX HUNDRED TWENTY-NINE OF  THIS  ARTICLE  SHALL  BE
 ISSUED OR INCURRED WITHOUT THE PRIOR WRITTEN APPROVAL OF THE DIRECTOR OF
 MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK.
   3. THE TRUST SHALL BE AUTHORIZED TO OBTAIN INSURANCE, LETTERS OF CRED-
 IT  AND OTHER CREDIT OR LIQUIDITY FACILITIES RELATED TO ITS BONDS, NOTES
 OR OTHER OBLIGATIONS.
   4. THE BOARD MAY DELEGATE TO THE CHAIR OR THE PRESIDENT OF  THE  TRUST
 THE POWER TO SET THE FINAL TERMS OF BONDS, NOTES OR OTHER OBLIGATIONS.
   5.  WHENEVER THE TRUST SHALL DETERMINE THAT THE ISSUANCE OF ITS BONDS,
 NOTES OR OTHER OBLIGATIONS IS APPROPRIATE, THE TRUST SHALL MAKE A DETER-
 MINATION AS TO THE ARRANGEMENTS NECESSARY FOR THE ISSUANCE AND  SALE  OF
 SUCH  BONDS,  NOTES  OR OTHER OBLIGATIONS, INCLUDING THE UNDERWRITING OF
 SUCH BONDS, NOTES OR OTHER OBLIGATIONS THROUGH  THE  PUBLIC  OR  PRIVATE
 SALE  OF  SUCH BONDS, NOTES OR OTHER OBLIGATIONS, AND SUCH DETERMINATION
 SHALL INCLUDE COMPENSATION FOR SERVICES  RENDERED  AS  THE  TRUST  DEEMS
 APPROPRIATE.  SUCH  DETERMINATION  SHALL BE SET FORTH IN A RESOLUTION OF
 THE TRUST, WHICH SHALL AUTHORIZE ISSUANCE OF SUCH BONDS, NOTES OR  OTHER
 OBLIGATIONS.   THE BONDS, NOTES OR OTHER OBLIGATIONS SHALL BEAR INTEREST
 AT SUCH FIXED OR VARIABLE RATES AND SHALL BE IN SUCH  DENOMINATIONS,  BE
 IN  SUCH  FORM,  EITHER  COUPON OR REGISTERED, BE SOLD AT SUCH PUBLIC OR
 PRIVATE SALE, BE EXECUTED IN  SUCH  MANNER,  BE  DENOMINATED  IN  UNITED
 STATES CURRENCY, BE PAYABLE IN SUCH MEDIUM OF PAYMENT, AT SUCH PLACE AND
 BE  SUBJECT TO SUCH TERMS OF REDEMPTION AS THE TRUST MAY PROVIDE IN SUCH
 RESOLUTION.
   6. ANY RESOLUTION OR RESOLUTIONS AUTHORIZING  BONDS,  NOTES  OR  OTHER
 OBLIGATIONS  OR  ANY  ISSUE  OF  BONDS,  NOTES  OR OTHER OBLIGATIONS MAY
 CONTAIN PROVISIONS WHICH MAY BE A PART OF THE CONTRACT WITH THE  HOLDERS
 OF THE BONDS, NOTES OR OTHER OBLIGATIONS THEREBY AUTHORIZED AS TO:
   (A)  PLEDGING  ALL OR PART OF ITS REVENUES, INCLUDING, BUT NOT LIMITED
 TO, PROJECT-BASED OR TENANT-BASED ASSISTANCE PURSUANT TO  SECTION  EIGHT
 OF  THE  UNITED  STATES HOUSING ACT OF NINETEEN HUNDRED THIRTY-SEVEN, AS
 AMENDED, OR ANY SUCCESSOR PROVISION, AND ASSISTANCE  PROVIDED  TO  NYCHA
 PURSUANT  TO  SECTION  NINE OF THE UNITED STATES HOUSING ACT OF NINETEEN
 HUNDRED THIRTY-SEVEN, AS AMENDED, OR ANY SUCCESSOR  PROVISION,  TOGETHER
 WITH ANY OTHER MONEYS, SECURITIES OR CONTRACTS, TO SECURE THE PAYMENT OF
 THE BONDS, NOTES OR OTHER OBLIGATIONS, SUBJECT TO SUCH AGREEMENTS AS MAY
 THEN EXIST;
   (B)  THE  SETTING  ASIDE OF RESERVES AND THE CREATION OF SINKING FUNDS
 AND THE REGULATION AND DISPOSITION THEREOF;
 A. 7805--A                         19

   (C) LIMITATIONS ON THE PURPOSE TO WHICH THE PROCEEDS FROM THE SALE  OF
 BONDS, NOTES OR OTHER OBLIGATIONS MAY BE APPLIED;
   (D)  LIMITATIONS  ON  THE ISSUANCE OF ADDITIONAL BONDS, NOTES OR OTHER
 OBLIGATIONS, THE TERMS UPON WHICH ADDITIONAL BONDS, NOTES OR OTHER OBLI-
 GATIONS MAY BE ISSUED AND SECURED AND THE REFUNDING OF BONDS,  NOTES  OR
 OTHER OBLIGATIONS;
   (E)  THE  PROCEDURE,  IF  ANY, BY WHICH THE TERMS OF ANY CONTRACT WITH
 HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS MAY BE AMENDED OR  ABROGAT-
 ED,  INCLUDING  THE PROPORTION OF HOLDERS OF BONDS, NOTES OR OTHER OBLI-
 GATIONS WHICH ARE NEEDED TO CONSENT THERETO AND THE MANNER IN WHICH SUCH
 CONSENT MAY BE GIVEN;
   (F) VESTING IN A BOND TRUSTEE OR  TRUSTEES  SUCH  PROPERTIES,  RIGHTS,
 POWERS AND DUTIES IN TRUST AS THE TRUST MAY DETERMINE; AND
   (G)  DEFINING  THE  ACTS  OR  OMISSIONS  TO  ACT THAT MAY CONSTITUTE A
 DEFAULT IN THE OBLIGATIONS AND DUTIES OF THE TRUST  TO  THE  HOLDERS  OF
 BONDS, NOTES OR OTHER OBLIGATIONS AND PROVIDING FOR THE RIGHTS AND REME-
 DIES OF THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS IN THE EVENT OF
 SUCH  DEFAULT,  INCLUDING  AS  A  MATTER  OF  RIGHT THE APPOINTMENT OF A
 RECEIVER, PROVIDED, HOWEVER, THAT SUCH RIGHTS AND REMEDIES SHALL NOT  BE
 INCONSISTENT  WITH THE GENERAL LAWS OF THE STATE AND OTHER PROVISIONS OF
 THIS ARTICLE.
   7. IN ADDITION TO THE POWERS HEREIN CONFERRED UPON THE TRUST TO SECURE
 ITS BONDS, NOTES OR OTHER OBLIGATIONS, THE TRUST  SHALL  HAVE  POWER  IN
 CONNECTION  WITH  THE  ISSUANCE  OF BONDS, NOTES OR OTHER OBLIGATIONS TO
 ENTER INTO SUCH AGREEMENTS FOR THE BENEFIT  OF  THE  HOLDERS  OF  BONDS,
 NOTES  OR  OTHER OBLIGATIONS AS THE TRUST MAY DEEM NECESSARY, CONVENIENT
 OR DESIRABLE CONCERNING THE USE OR DISPOSITION OF ITS REVENUES OR  OTHER
 MONEYS,  INCLUDING  THE  ENTRUSTING,  PLEDGING  OR CREATION OF ANY OTHER
 SECURITY INTEREST IN ANY SUCH REVENUES, MONEYS AND THE DOING OF ANY ACT,
 INCLUDING REFRAINING FROM DOING ANY ACT, WHICH THE TRUST WOULD HAVE  THE
 RIGHT  TO  DO  IN  THE  ABSENCE OF SUCH AGREEMENTS. THE TRUST SHALL HAVE
 POWER TO ENTER INTO AMENDMENTS OF ANY SUCH AGREEMENTS WITHIN THE  POWERS
 GRANTED TO THE TRUST BY THIS ARTICLE AND TO PERFORM SUCH AGREEMENTS. THE
 PROVISIONS  OF  ANY  SUCH  AGREEMENTS MAY BE MADE A PART OF THE CONTRACT
 WITH THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST.
   8. NOTWITHSTANDING ANY PROVISION OF THE UNIFORM COMMERCIAL CODE TO THE
 CONTRARY, ANY PLEDGE OF OR OTHER SECURITY INTEREST IN REVENUES,  MONEYS,
 ACCOUNTS, CONTRACT RIGHTS, GENERAL INTANGIBLE OR OTHER PERSONAL PROPERTY
 MADE  OR CREATED BY THE TRUST SHALL BE VALID, BINDING AND PERFECTED FROM
 THE TIME WHEN SUCH PLEDGE IS MADE OR OTHER  SECURITY  INTEREST  ATTACHES
 WITHOUT  ANY PHYSICAL DELIVERY OF THE COLLATERAL OR FURTHER ACT, AND THE
 LIEN OF ANY SUCH PLEDGE OR OTHER SECURITY INTEREST SHALL BE VALID, BIND-
 ING AND PERFECTED AGAINST ALL PARTIES HAVING CLAIMS OF ANY KIND IN TORT,
 CONTRACT OR OTHERWISE AGAINST THE TRUST IRRESPECTIVE OF WHETHER  OR  NOT
 SUCH  PARTIES  HAVE NOTICE THEREOF. NO INSTRUMENT BY WHICH SUCH A PLEDGE
 OR SECURITY INTEREST IS CREATED NOR  ANY  FINANCING  STATEMENT  NEED  BE
 RECORDED OR FILED.
   9.  WHETHER  OR NOT THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST
 ARE OF SUCH FORM AND CHARACTER AS TO BE NEGOTIABLE INSTRUMENTS UNDER THE
 TERMS OF THE UNIFORM COMMERCIAL CODE, THE BONDS, NOTES  OR  OTHER  OBLI-
 GATIONS ARE HEREBY MADE NEGOTIABLE INSTRUMENTS WITHIN THE MEANING OF AND
 FOR ALL THE PURPOSES OF THE UNIFORM COMMERCIAL CODE, SUBJECT ONLY TO THE
 PROVISIONS OF THE BONDS, NOTES OR OTHER OBLIGATIONS FOR REGISTRATION.
   10.  NEITHER  THE  MEMBERS OF THE BOARD NOR ANY PERSON EXECUTING BONDS
 SHALL BE LIABLE PERSONALLY THEREON OR BE SUBJECT TO ANY PERSONAL LIABIL-
 ITY OR ACCOUNTABILITY SOLELY BY REASON  OF  THE  ISSUANCE  THEREOF.  THE
 A. 7805--A                         20
 
 BONDS,  NOTES  OR  OTHER OBLIGATIONS OF THE TRUST SHALL NOT BE A DEBT OF
 NYCHA, THE CITY, OR THE STATE, AND NEITHER NYCHA, THE CITY NOR THE STATE
 SHALL BE LIABLE THEREON, NOR SHALL THEY BE  PAYABLE  OUT  OF  ANY  FUNDS
 OTHER  THAN  THOSE  OF  THE  TRUST, AND SUCH BONDS, NOTES OR OTHER OBLI-
 GATIONS SHALL CONTAIN ON THE FACE THEREOF A STATEMENT TO SUCH EFFECT.
   11. THE TRUST, SUBJECT TO SUCH AGREEMENTS WITH BONDHOLDERS AS THEN MAY
 EXIST, SHALL HAVE POWER TO PURCHASE BONDS, NOTES OR OTHER OBLIGATIONS OF
 THE TRUST OUT OF ANY MONEYS AVAILABLE THEREFOR, WHICH SHALL THEREUPON BE
 CANCELLED.
   12. NOTWITHSTANDING ANY PROVISION OF ARTICLE  TWELVE  OF  THE  PRIVATE
 HOUSING  FINANCE  LAW,  SECTION  TWENTY-NINE  HUNDRED SEVENTY-SIX OF THE
 PUBLIC AUTHORITIES LAW OR ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO THE
 CONTRARY, (A) THE PURPOSES OF THE  NEW  YORK  CITY  HOUSING  DEVELOPMENT
 CORPORATION  AND  ITS  POWERS  GRANTED  IN ARTICLE TWELVE OF THE PRIVATE
 HOUSING FINANCE LAW ALSO SHALL INCLUDE, SUBJECT TO THE PROVISIONS OF ANY
 CONTRACT WITH HOLDERS OF ITS BONDS,  NOTES  OR  OTHER  OBLIGATIONS,  THE
 MAKING  OF  LOANS  TO  THE TRUST AND ENTITIES REFERRED TO IN SUBDIVISION
 THIRTEEN OF SECTION SIX HUNDRED TWENTY-NINE OF  THIS  ARTICLE,  AND  (B)
 BONDS,  NOTES OR OTHER OBLIGATIONS OF THE NEW YORK CITY HOUSING DEVELOP-
 MENT CORPORATION ISSUED FOR, OR TO REFUND BONDS, NOTES  OR  OTHER  OBLI-
 GATIONS  ISSUED  FOR,  SUCH  PURPOSE  OR THE PURPOSES OF PAYING COSTS OF
 ISSUANCE THEREOF OR FUNDING RESERVES TO  SECURE  SUCH  BONDS,  NOTES  OR
 OTHER  OBLIGATIONS  (I) MAY BE SOLD WITHOUT ANY CONSULTATION OR APPROVAL
 OTHERWISE REQUIRED BY SUBDIVISION TWO OF SECTION SIX HUNDRED  FIFTY-FIVE
 OF  THE  PRIVATE  HOUSING FINANCE LAW, (II) SHALL NOT BE INCLUDED IN ANY
 CALCULATION  OF  OUTSTANDING  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  FOR
 PURPOSES OF SECTION SIX HUNDRED FIFTY-SIX OF THE PRIVATE HOUSING FINANCE
 LAW  AND  SHALL  NOT  BE SECURED BY ANY CAPITAL RESERVE FUND ESTABLISHED
 PURSUANT THERETO, AND (III) SHALL NOT BE INCLUDED IN ANY CALCULATION  OF
 BONDS,  NOTES  OR  OTHER OBLIGATIONS ISSUED BY THE NEW YORK CITY HOUSING
 DEVELOPMENT CORPORATION FOR  PURPOSES  OF  SECTION  TWENTY-NINE  HUNDRED
 SEVENTY-SIX OF THE PUBLIC AUTHORITIES LAW.
   13.  IN  THE  EVENT  THAT ANY DEFAULT ON ANY BOND, NOTE OR OTHER OBLI-
 GATION THAT IS SECURED BY AN ASSIGNMENT OF, MORTGAGE ON,  PLEDGE  OF  OR
 OTHER  ENCUMBRANCE  ON ANY INTEREST OF THE TRUST, OR ANY ENTITY REFERRED
 TO IN SUBDIVISION THIRTEEN OF SECTION SIX HUNDRED  TWENTY-NINE  OF  THIS
 ARTICLE,  IN  ANY  HOUSING  FACILITIES,  HAS  OCCURRED AND IS CONTINUING
 BEYOND THE APPLICABLE CURE PERIOD, IF ANY, PROVIDED TO THE TRUST OR SUCH
 ENTITY IN THE INSTRUMENT GRANTING SUCH ASSIGNMENT, MORTGAGE,  PLEDGE  OR
 OTHER ENCUMBRANCE, NOTWITHSTANDING ANY PROVISION IN SUCH INSTRUMENT, ANY
 RIGHT  OF  THE BENEFICIARY OF SUCH INSTRUMENT TO OBTAIN SUCH INTEREST IN
 SUCH HOUSING FACILITIES AS A REMEDY TO ANY SUCH  DEFAULT  SHALL,  FOR  A
 PERIOD  ENDING THIRTY DAYS AFTER THE END OF SUCH CURE PERIOD, BE SUBJECT
 TO:
   (A) THE RIGHT OF THE CITY OF NEW YORK TO REMEDY, OR CAUSE TO BE  REME-
 DIED, SUCH DEFAULT; AND
   (B) THE RIGHT OF THE STATE OF NEW YORK TO REMEDY, OR CAUSE TO BE REME-
 DIED,  SUCH DEFAULT; PROVIDED, HOWEVER, THAT NOTHING IN THIS SUBDIVISION
 SHALL BE CONSTRUED TO IMPOSE ANY OBLIGATION ON THE CITY OF NEW  YORK  OR
 ON  THE  STATE  OF  NEW  YORK  TO  REMEDY, OR CAUSE TO BE REMEDIED, SUCH
 DEFAULT.
   14. NOTWITHSTANDING ANY DEFAULT  ON  ANY  OBLIGATION  REFERRED  TO  IN
 SUBDIVISION  THIRTEEN  OF  THIS SECTION, AND ANY REMEDIES EXERCISED AS A
 RESULT OF SUCH DEFAULT, PROVISIONS RELATING TO THE RESTRICTED USE OF THE
 HOUSING FACILITIES FOR THE PROVISION AND OPERATION OF HOUSING  FOR  LOW-
 INCOME  FAMILIES AND CURRENT RESIDENTS SHALL AT ALL TIMES CONTINUE TO BE
 A. 7805--A                         21
 
 IN EFFECT IN PERPETUITY, AND THE HOUSING FACILITIES SHALL REMAIN SUBJECT
 TO THE PROVISIONS OF SUBDIVISION THREE OF SECTION SIX HUNDRED THIRTY  OF
 THIS  ARTICLE  AND  SECTION  SIX HUNDRED THIRTY-TWO OF THIS ARTICLE. THE
 TRUST  SHALL  NOT  PLEDGE THE FEE OWNERSHIP OF THE HOUSING FACILITIES AS
 PART OF A FINANCING ARRANGEMENT.
   15. AT LEAST QUARTERLY, THE TRUST SHALL PROVIDE FINANCIAL  REPORTS  TO
 THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK CONTAINING
 SUCH INFORMATION AS THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF
 NEW YORK MAY REQUEST.
   §  639.  RESOURCES  OF THE TRUST. 1. SUBJECT TO THE PROVISIONS OF THIS
 ARTICLE, THE MEMBERS OF THE BOARD SHALL RECEIVE, ACCEPT, INVEST,  ADMIN-
 ISTER,  EXPEND  AND DISBURSE FOR ITS CORPORATE PURPOSES ALL MONEY OF THE
 TRUST FROM WHATEVER SOURCES DERIVED INCLUDING (A) THE PROCEEDS OF BONDS,
 NOTES AND OTHER OBLIGATIONS, AND  (B)  ANY  OTHER  PAYMENTS,  GIFTS,  OR
 APPROPRIATIONS TO THE TRUST FROM ANY OTHER SOURCE.
   2.  SUBJECT  TO  THE PROVISIONS OF ANY CONTRACT WITH HOLDERS OF BONDS,
 NOTES OR OTHER OBLIGATIONS, THE MONEY OF THE TRUST SHALL BE PAID TO  THE
 TRUST AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEY. THE MONEY OF THE
 TRUST  SHALL  BE  DEPOSITED  IN ACCOUNTS HELD IN THE TRUST'S NAME IN THE
 BANK OR BANKS IN THE STATE DESIGNATED BY THE TRUST.
   3. THE MONEYS IN SUCH ACCOUNTS SHALL BE PAID  OUT  ON  CHECKS  OF  THE
 TRUST  UPON  REQUISITION BY THE CHAIR OR SUCH OFFICER OR OFFICERS AS THE
 TRUST MAY AUTHORIZE TO MAKE SUCH REQUISITIONS, OR  PURSUANT  TO  A  BOND
 RESOLUTION OR TRUST INDENTURE.
   4. ANY MONEYS ON DEPOSIT IN THE ACCOUNTS OF THE TRUST NOT REQUIRED FOR
 IMMEDIATE  EXPENDITURE SHALL BE INVESTED IN OBLIGATIONS IN WHICH A MUNI-
 CIPALITY MAY BE AUTHORIZED TO INVEST IN ACCORDANCE WITH  SECTION  ELEVEN
 OF  THE  GENERAL MUNICIPAL LAW, PROVIDED, HOWEVER, THAT SUCH FUNDS SHALL
 NOT BE INVESTED IN INSTRUMENTS COMMONLY KNOWN AS REPURCHASE  AGREEMENTS.
 THE  TRUST  SHALL HAVE THE POWER, NOTWITHSTANDING THE PROVISIONS OF THIS
 SECTION, TO CONTRACT WITH THE HOLDERS OF ANY OF  ITS  BONDS,  NOTES  AND
 OTHER  OBLIGATIONS  AS  TO THE CUSTODY, COLLECTION, SECURING, INVESTMENT
 AND PAYMENT OF ANY MONEY OF THE TRUST OR ANY  MONEY  HELD  IN  TRUST  OR
 OTHERWISE  FOR  THE  PAYMENT OF BONDS, NOTES AND OTHER OBLIGATIONS OR IN
 ANY WAY TO SECURE BONDS, NOTES AND OTHER OBLIGATIONS, AND TO  CARRY  OUT
 ANY SUCH CONTRACT.
   §  640.  LEGAL INVESTMENT AND DEPOSIT. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS OF THE TRUST ARE HEREBY MADE  SECURITIES  IN  WHICH  ALL  PUBLIC
 OFFICERS  AND  BODIES  OF THE STATE AND ALL PUBLIC CORPORATIONS, MUNICI-
 PALITIES AND MUNICIPAL SUBDIVISIONS, ALL INSURANCE COMPANIES AND ASSOCI-
 ATIONS AND OTHER PERSONS CARRYING ON AN INSURANCE BUSINESS,  ALL  BANKS,
 BANKERS, TRUST COMPANIES, SAVINGS BANKS AND SAVINGS ASSOCIATIONS INCLUD-
 ING  SAVINGS  AND  LOAN  ASSOCIATIONS,  BUILDING  AND LOAN ASSOCIATIONS,
 INVESTMENT COMPANIES AND OTHER PERSONS CARRYING ON A  BANKING  BUSINESS,
 ALL  ADMINISTRATORS,  CONSERVATORS,  GUARDIANS,  EXECUTORS, TRUSTEES AND
 OTHER FIDUCIARIES, AND ALL OTHER PERSONS WHATSOEVER WHO ARE NOW  OR  MAY
 HEREAFTER  BE  AUTHORIZED  TO INVEST IN BONDS OR IN OTHER OBLIGATIONS OF
 THE STATE, MAY PROPERLY AND LEGALLY INVEST FUNDS, INCLUDING CAPITAL,  IN
 THEIR  CONTROL  OR  BELONGING  TO  THEM. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS ARE ALSO HEREBY MADE SECURITIES WHICH MAY BE DEPOSITED WITH  AND
 MAY  BE  RECEIVED BY ALL PUBLIC OFFICERS AND BODIES OF THE STATE AND ALL
 MUNICIPALITIES AND PUBLIC CORPORATIONS FOR ANY  PURPOSE  FOR  WHICH  THE
 DEPOSIT  OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE STATE IS NOW OR MAY
 HEREAFTER BE AUTHORIZED.
   § 641. TAX EXEMPTION AND TAX CONTRACT BY THE STATE. 1.  IT  IS  HEREBY
 DETERMINED  THAT  THE  CREATION OF THE TRUST AND THE CARRYING OUT OF ITS
 A. 7805--A                         22
 
 CORPORATE PURPOSES IS IN ALL RESPECTS FOR THE BENEFIT OF THE  PEOPLE  OF
 THE  STATE  OF  NEW YORK AND IS A PUBLIC PURPOSE. ACCORDINGLY, THE TRUST
 SHALL BE REGARDED AS PERFORMING AN ESSENTIAL  GOVERNMENTAL  FUNCTION  IN
 THE  EXERCISE  OF  THE POWERS CONFERRED UPON IT BY THIS ARTICLE, AND THE
 TRUST SHALL NOT BE REQUIRED TO PAY ANY FEES, TAXES, SPECIAL  AD  VALOREM
 LEVIES  OR ASSESSMENTS OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, FRAN-
 CHISE TAXES, SALES TAXES OR OTHER TAXES, UPON OR  WITH  RESPECT  TO  ANY
 PROPERTY  OWNED BY IT OR UNDER ITS JURISDICTION, CONTROL OR SUPERVISION,
 OR UPON THE USES THEREOF, OR UPON OR WITH RESPECT TO ITS  ACTIVITIES  OR
 OPERATIONS  IN FURTHERANCE OF THE POWERS CONFERRED UPON IT BY THIS ARTI-
 CLE, OR UPON OR WITH RESPECT TO ANY FARES, TOLLS, RENTALS, RATES, CHARG-
 ES, FEES, REVENUES OR OTHER INCOME RECEIVED BY THE TRUST.
   2. ANY BONDS, NOTES OR OTHER OBLIGATIONS ISSUED PURSUANT TO THIS ARTI-
 CLE TOGETHER WITH THE INCOME THEREFROM SHALL AT ALL TIMES BE EXEMPT FROM
 TAXATION.
   3. THE STATE HEREBY COVENANTS WITH THE PURCHASERS AND WITH ALL  SUBSE-
 QUENT  HOLDERS  AND  TRANSFEREES  OF  BONDS,  NOTES OR OTHER OBLIGATIONS
 ISSUED BY THE TRUST PURSUANT TO THIS ARTICLE, IN  CONSIDERATION  OF  THE
 ACCEPTANCE  OF  AND  PAYMENT  FOR THE BONDS, NOTES OR OTHER OBLIGATIONS,
 THAT THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST ISSUED  PURSUANT
 TO  THIS  ARTICLE AND THE INCOME THEREFROM AND ALL REVENUES, MONIES, AND
 OTHER PROPERTY PLEDGED TO PAY OR TO SECURE THE PAYMENT  OF  SUCH  BONDS,
 NOTES OR OTHER OBLIGATIONS SHALL AT ALL TIMES BE FREE FROM TAXATION.
   §  642. ACTIONS AGAINST THE TRUST. 1. EXCEPT IN AN ACTION FOR WRONGFUL
 DEATH, NO ACTION OR PROCEEDING SHALL BE PROSECUTED OR MAINTAINED AGAINST
 THE TRUST FOR PERSONAL INJURY OR DAMAGE TO  REAL  OR  PERSONAL  PROPERTY
 ALLEGED  TO  HAVE BEEN SUSTAINED BY REASON OF THE NEGLIGENCE OR WRONGFUL
 ACT OF THE TRUST OR OF ANY  MEMBER  OF  THE  BOARD,  OFFICER,  AGENT  OR
 EMPLOYEE  THEREOF, UNLESS (A) IT SHALL APPEAR BY AND AS AN ALLEGATION IN
 THE COMPLAINT OR MOVING PAPERS THAT A NOTICE OF CLAIM  SHALL  HAVE  BEEN
 MADE  AND SERVED UPON THE TRUST, WITHIN THE TIME LIMIT PRESCRIBED BY AND
 IN COMPLIANCE WITH SECTION FIFTY-E OF THE GENERAL MUNICIPAL LAW, (B)  IT
 SHALL  APPEAR  BY AND AS AN ALLEGATION IN THE COMPLAINT OR MOVING PAPERS
 THAT AT LEAST THIRTY DAYS HAVE ELAPSED SINCE THE SERVICE OF SUCH  NOTICE
 AND  THAT  ADJUSTMENT  OR PAYMENT THEREOF HAS BEEN NEGLECTED OR REFUSED,
 AND (C) THE ACTION OR PROCEEDING SHALL BE COMMENCED  WITHIN  THE  PERIOD
 PROVIDED  UNDER SECTION FIFTY-I OF THE GENERAL MUNICIPAL LAW.  AN ACTION
 AGAINST THE TRUST FOR WRONGFUL DEATH SHALL BE  COMMENCED  IN  ACCORDANCE
 WITH  THE NOTICE OF CLAIM AND TIME LIMITATION PROVISIONS OF TITLE ELEVEN
 OF ARTICLE NINE OF THE PUBLIC AUTHORITIES LAW.
   2. WHEREVER A NOTICE OF CLAIM IS SERVED UPON THE TRUST, IT SHALL  HAVE
 THE  RIGHT  TO  DEMAND  AN  EXAMINATION  OF THE CLAIMANT RELATIVE TO THE
 OCCURRENCE AND EXTENT OF THE INJURIES OR  DAMAGES  FOR  WHICH  CLAIM  IS
 MADE, IN ACCORDANCE WITH THE PROVISIONS OF SECTION FIFTY-H OF THE GENER-
 AL MUNICIPAL LAW.
   3.  THE  TRUST  MAY  REQUIRE  ANY  PERSON PRESENTING FOR SETTLEMENT AN
 ACCOUNT OR CLAIM FOR ANY CAUSE WHATSOEVER AGAINST THE TRUST TO BE  SWORN
 BEFORE A MEMBER OF THE BOARD, COUNSEL OR AN ATTORNEY, OFFICER OR EMPLOY-
 EE THEREOF DESIGNATED FOR SUCH PURPOSE, CONCERNING SUCH ACCOUNT OR CLAIM
 AND  WHEN  SO  SWORN,  TO ANSWER ORALLY AS TO ANY FACTS RELATIVE TO SUCH
 ACCOUNT OR CLAIM. THE TRUST SHALL HAVE POWER TO  SETTLE  OR  ADJUST  ANY
 CLAIMS IN FAVOR OF OR AGAINST THE TRUST.
   4.  THE RATE OF INTEREST TO BE PAID BY THE TRUST UPON ANY JUDGMENT FOR
 WHICH IT IS LIABLE, OTHER THAN A JUDGMENT ON BONDS, NOTES OR OTHER OBLI-
 GATIONS, SHALL NOT EXCEED THE RATE OF INTEREST ON JUDGMENTS AND  ACCRUED
 CLAIMS  AGAINST MUNICIPAL AUTHORITIES AS PROVIDED IN THE GENERAL MUNICI-
 A. 7805--A                         23
 
 PAL LAW.  INTEREST ON PAYMENTS OF PRINCIPAL OR INTEREST  ON  ANY  BONDS,
 NOTES OR OTHER OBLIGATIONS IN DEFAULT SHALL ACCRUE AT THE RATE SPECIFIED
 IN THE GENERAL MUNICIPAL LAW UNTIL PAID OR OTHERWISE SATISFIED.
   5.  THE  VENUE  OF  EVERY  ACTION,  SUIT OR SPECIAL PROCEEDING BROUGHT
 AGAINST THE TRUST SHALL BE LAID IN THE COUNTY OF NEW YORK.
   § 643. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP. 1. THE TRUST,  FOR
 THE  PURPOSE OF ADMINISTERING THE CIVIL SERVICE LAW, SHALL BE SUBJECT TO
 THE PROVISIONS OF THE CIVIL SERVICE  LAW  AND  THE  RULES  OF  THE  CITY
 DEPARTMENT  OF  CITYWIDE ADMINISTRATIVE SERVICES OR ANY SUCCESSOR ACTING
 AS THE MUNICIPAL COMMISSION OF THE CITY.  THE  PRESIDENT  OF  THE  TRUST
 SHALL  BE  EMPOWERED  TO  ACT  FOR  THE TRUST IN ALL MATTERS RELATING TO
 COMPLIANCE WITH THIS SUBDIVISION.
   2. WITH RESPECT TO PERSONS EMPLOYED BY NYCHA ON THE EFFECTIVE DATE  OF
 THIS  SECTION, THE TRUST AND NYCHA SHALL BE DEEMED TO BE THE SAME PUBLIC
 EMPLOYER ONLY FOR PURPOSES OF TRANSFER OF  EMPLOYMENT  UNDER  THE  CIVIL
 SERVICE  LAW,  WHICH MAY BE MADE ONLY WITH THE APPROVAL OF THE NYCHA CEO
 AND THE PRESIDENT OF THE TRUST. NO CIVIL SERVICE RIGHT OF AN EMPLOYEE OF
 NYCHA EMPLOYED ON THE EFFECTIVE DATE OF  THIS  ARTICLE  SHALL  BE  LOST,
 IMPAIRED  OR  AFFECTED  BY  REASON OF THE ENACTMENT OF THIS SECTION INTO
 LAW.
   3. ANY PERSON ON AN ELIGIBLE LIST FOR  A  POSITION  WITH  NYCHA  SHALL
 CONTINUE TO HOLD SUCH POSITION ON SUCH LIST AND SHALL BE ENTITLED TO THE
 SAME  CIVIL  SERVICE  RIGHTS. THE TRUST SHALL CONTINUE TO USE ANY NEW OR
 EXISTING CIVIL SERVICE LISTS PROMULGATED BY THE DEPARTMENT  OF  CITYWIDE
 ADMINISTRATIVE  SERVICES  UNTIL SUCH TIME AS SUCCESSOR TITLES ARE ESTAB-
 LISHED. EMPLOYEES OF THE TRUST SHALL HAVE THE SAME RIGHTS  AND  BENEFITS
 AS EMPLOYEES OF NYCHA.
   4.  ANY  OFFICER  OR EMPLOYEE OF NYCHA WHO IS TRANSFERRED TO THE TRUST
 PURSUANT TO THIS SECTION AND WHO AT THE TIME  OF  SUCH  TRANSFER  WAS  A
 MEMBER  OF THE NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM SHALL CONTINUE
 TO BE A MEMBER OF SUCH SYSTEM AS LONG AS HE OR SHE OR THEY CONTINUES  IN
 SUCH  SERVICE, AND SHALL CONTINUE TO HAVE ALL THE RIGHTS, PRIVILEGES AND
 OBLIGATIONS OF MEMBERSHIP IN SUCH SYSTEM. EMPLOYMENT BY THE TRUST  SHALL
 CONSTITUTE  CITY-SERVICE  FOR THE PURPOSES OF CHAPTER ONE OF TITLE THIR-
 TEEN OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   § 644. COLLECTIVE NEGOTIATION. 1. EXCEPT AS OTHERWISE PROVIDED BY THIS
 ARTICLE, THE TRUST, BY MEANS OF A WRITTEN DETERMINATION OF THE PRESIDENT
 OF THE TRUST TRANSMITTED TO THE MAYOR WITHIN ONE HUNDRED TWENTY DAYS  OF
 THE  EFFECTIVE DATE OF THIS SECTION, MAY ELECT TO HAVE THE NEW YORK CITY
 COLLECTIVE BARGAINING LAW APPLY TO THE TRUST, SUBJECT TO APPROVAL OF THE
 MAYOR. SUCH LAW SHALL APPLY TO THE TRUST PENDING SUCH DETERMINATION  AND
 APPROVAL.  IN  THE  EVENT  THAT THE TRUST DOES NOT SO ELECT OR THE MAYOR
 DOES NOT APPROVE THE ELECTION, THE  STATE  PUBLIC  EMPLOYMENT  RELATIONS
 BOARD SHALL HAVE EXCLUSIVE JURISDICTION FOR THE PURPOSE OF ADMINISTERING
 THE  PROVISIONS  OF  ARTICLE  FOURTEEN OF THE CIVIL SERVICE LAW, AND THE
 PROVISIONS OF SECTION TWO HUNDRED TWELVE OF THE CIVIL SERVICE LAW  SHALL
 NOT BE APPLICABLE TO THE TRUST.
   2.  IN  THE  EVENT  THAT  THE  TRUST  ELECTS TO HAVE THE NEW YORK CITY
 COLLECTIVE BARGAINING LAW APPLY TO THE TRUST, FOR THE PURPOSE OF ARTICLE
 FOURTEEN OF THE CIVIL SERVICE LAW  AND  THE  NEW  YORK  CITY  COLLECTIVE
 BARGAINING  LAW,  AS  APPLICABLE,  THE  TRUST, ACTING BY AND THROUGH ITS
 PRESIDENT, SHALL BE DEEMED TO BE THE PUBLIC EMPLOYER AND AS  SUCH  SHALL
 NEGOTIATE WITH AND ENTER INTO WRITTEN AGREEMENTS WITH EMPLOYEE ORGANIZA-
 TIONS  REPRESENTING  THE  STAFF OF THE TRUST THAT HAVE BEEN CERTIFIED OR
 RECOGNIZED UNDER SUCH ARTICLE. IN CARRYING  ON  SUCH  NEGOTIATIONS,  THE
 PRESIDENT  OF  THE  TRUST  MAY CONSULT WITH AND SEEK ASSISTANCE FROM THE
 A. 7805--A                         24

 CITY OFFICE OF LABOR RELATIONS AND NYCHA. THE  PRESIDENT  OF  THE  TRUST
 SHALL  CONSULT  WITH THE APPROPRIATE PUBLIC EMPLOYEE ORGANIZATION ON THE
 ESTABLISHMENT OF, AND BARGAIN ALL  TERMS  AND  CONDITIONS  OF,  ANY  NEW
 TITLES ESTABLISHED FOR THE TRUST WHICH HAVE A COMMUNITY OF INTEREST WITH
 TITLES  ALREADY  REPRESENTED  BY  THE PUBLIC EMPLOYEE ORGANIZATION WHICH
 PRESENTLY HAS REPRESENTATION RIGHTS FOR THOSE TITLES FOR  NYCHA  OR  FOR
 THE  CITY.  ANY SUCH TITLES FOR WHICH TERMS AND CONDITIONS ARE BARGAINED
 PURSUANT TO THIS SUBDIVISION SHALL BE  DEEMED  TO  BE  SUCCESSOR  TITLES
 WITHIN  THE  MEANING  OF APPLICABLE LAW AND, SO LONG AS THE RESPONSIBIL-
 ITIES OF EMPLOYEES IN THESE TITLES ARE REASONABLY RELATED TO THE RESPON-
 SIBILITIES OF EMPLOYEES  CURRENTLY  REPRESENTED  BY  A  PUBLIC  EMPLOYEE
 ORGANIZATION,  SHALL  BE  ACCRETED TO THE APPROPRIATE BARGAINING CERTIF-
 ICATES FOR WHICH SUCH PUBLIC EMPLOYEE ORGANIZATION SHALL BE  VOLUNTARILY
 RECOGNIZED  AS  THE  BARGAINING AGENT UNDER PROCEDURES ACCEPTABLE TO THE
 OFFICE OF COLLECTIVE BARGAINING OR THE STATE PUBLIC EMPLOYMENT RELATIONS
 BOARD, AS APPLICABLE.
   § 645. APPLICATION OF STATE AND LOCAL HUMAN  RIGHTS  LAWS.    NOTWITH-
 STANDING  ANY  PROVISION  OF LAW TO THE CONTRARY, ARTICLE FIFTEEN OF THE
 EXECUTIVE LAW AND TITLE EIGHT OF THE ADMINISTRATIVE CODE OF THE CITY  OF
 NEW YORK SHALL APPLY TO THE TRUST.
   §  646.  LIMITED  LIABILITY.  1.  AS  USED  IN  THIS SECTION, THE TERM
 "EMPLOYEE" SHALL MEAN THE MEMBERS OF  THE  BOARD,  PRESIDENT,  OFFICERS,
 EMPLOYEES,  OR  A  FORMER  EMPLOYEE,  HIS  OR  HER  ESTATE OR JUDICIALLY
 APPOINTED PERSONAL REPRESENTATIVE.
   2. NEITHER THE MEMBERS OF THE BOARD NOR ANY OFFICERS  OR  EMPLOYEE  OF
 THE  TRUST  ACTING  ON  BEHALF THEREOF, WHILE ACTING WITHIN THE SCOPE OF
 SUCH PERSON'S AUTHORITY, SHALL BE SUBJECT  TO  ANY  LIABILITY  RESULTING
 FROM CARRYING OUT ANY OF THE POWERS EXPRESSLY GIVEN IN THIS ARTICLE.
   3. AT THE REQUEST OF THE EMPLOYEE, AND UPON COMPLIANCE BY THE EMPLOYEE
 WITH  THE  PROVISIONS  OF  THIS SECTION, THE TRUST SHALL PROVIDE FOR THE
 DEFENSE OF AN EMPLOYEE IN ANY CIVIL ACTION OR PROCEEDING IN ANY STATE OR
 FEDERAL COURT, ARISING OUT OF ANY ALLEGED  ACT  OR  OMISSION  WHICH  THE
 TRUST  FINDS  OCCURRED WHILE THE EMPLOYEE WAS ACTING WITHIN THE SCOPE OF
 HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF HIS OR  HER  PUBLIC
 DUTIES  AND  WAS NOT IN VIOLATION OF ANY RULE OR REGULATION OF THE TRUST
 AT THE TIME THE ALLEGED ACT OR OMISSION OCCURRED. THIS DUTY  TO  PROVIDE
 FOR  A  DEFENSE  AND  INDEMNIFICATION  SHALL  NOT ARISE WHERE SUCH CIVIL
 ACTION OR PROCEEDING IS BROUGHT BY OR ON BEHALF OF THE TRUST AGAINST THE
 EMPLOYEE.
   4. THE TRUST SHALL INDEMNIFY AND HOLD HARMLESS ITS  EMPLOYEES  IN  THE
 AMOUNT  OF  ANY  CIVIL  JUDGMENT  OBTAINED AGAINST SUCH EMPLOYEES IN ANY
 STATE OR FEDERAL COURT, OR IN THE AMOUNT OF ANY SETTLEMENT  OF  A  CLAIM
 APPROVED  BY THE TRUST PROVIDED THAT THE ACT OR OMISSION FROM WHICH SUCH
 JUDGMENT OR SETTLEMENT AROSE OCCURRED  WHILE  THE  EMPLOYEE  WAS  ACTING
 WITHIN THE SCOPE OF HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF
 HIS  OR  HER PUBLIC DUTIES AND WAS NOT IN VIOLATION OF ANY RULE OR REGU-
 LATION OF THE TRUST AT THE TIME THE ALLEGED DAMAGES WERE SUSTAINED.  THE
 DUTY TO INDEMNIFY AND HOLD HARMLESS PRESCRIBED BY THIS SECTION SHALL NOT
 ARISE  WHERE  THE INJURY OR DAMAGE RESULTED FROM AN INTENTIONAL WRONGDO-
 ING, OR RECKLESSNESS ON THE  PART  OF  THE  EMPLOYEE.  NOTHING  IN  THIS
 SECTION  SHALL  AUTHORIZE  THE  TRUST  TO  INDEMNIFY OR HOLD HARMLESS AN
 EMPLOYEE WITH RESPECT TO PUNITIVE OR EXEMPLARY DAMAGES, FINES OR  PENAL-
 TIES.
   5.  THE  DUTY  TO DEFEND AND INDEMNIFY AND HOLD HARMLESS PRESCRIBED BY
 THIS SECTION SHALL BE CONDITIONED UPON (A) DELIVERY BY THE  EMPLOYEE  TO
 THE PRESIDENT OR GENERAL COUNSEL OF THE TRUST AT THE OFFICE OF THE TRUST
 A. 7805--A                         25
 
 OF  THE  ORIGINAL  OR  A COPY OF ANY SUMMONS, COMPLAINT, CLAIM, PROCESS,
 NOTICE, DEMAND OR PLEADING WITHIN TEN DAYS AFTER THE EMPLOYEE IS  SERVED
 WITH  SUCH DOCUMENT, AND (B) THE FULL COOPERATION OF THE EMPLOYEE IN THE
 DEFENSE  OF  SUCH  ACTION  OR PROCEEDING AND IN DEFENSE OF ANY ACTION OR
 PROCEEDING AGAINST THE TRUST BASED UPON THE SAME ACT OR OMISSION, AND IN
 THE PROSECUTION OF ANY APPEAL.  SUCH DELIVERY SHALL BE DEEMED A  REQUEST
 BY  THE  EMPLOYEE THAT THE TRUST PROVIDE FOR HIS OR HER DEFENSE PURSUANT
 TO THIS SECTION. IN THE EVENT THAT THE TRUST SHALL ASSUME AN  EMPLOYEE'S
 DEFENSE AND THEREAFTER THE EMPLOYEE FAILS OR REFUSES TO COOPERATE IN THE
 FORMATION  OR PRESENTATION OF HIS OR HER DEFENSE, THE COURT SHALL PERMIT
 THE TRUST TO WITHDRAW ITS REPRESENTATION TEN DAYS AFTER  GIVING  WRITTEN
 NOTICE  TO  THE  EMPLOYEE OF ITS INTENTION TO DISCONTINUE SUCH REPRESEN-
 TATION.
   6. IN THE EVENT THAT THE ACT OR OMISSION UPON WHICH THE COURT PROCEED-
 ING AGAINST THE EMPLOYEE IS BASED WAS OR IS ALSO THE BASIS OF  A  DISCI-
 PLINARY PROCEEDING BY THE TRUST AGAINST THE EMPLOYEE, REPRESENTATION AND
 INDEMNIFICATION BY THE TRUST, AS SET FORTH IN THIS SECTION, MAY BE WITH-
 HELD  (A)  UNTIL SUCH DISCIPLINARY PROCEEDING HAS BEEN RESOLVED, AND (B)
 UNLESS THE RESOLUTION OF  THE  DISCIPLINARY  PROCEEDING  EXONERATED  THE
 EMPLOYEE AS TO SUCH ACT OR OMISSION.
   7.  SUBJECT TO THE CONDITIONS SET FORTH IN THIS SECTION, SUCH EMPLOYEE
 SHALL BE ENTITLED TO REPRESENTATION BY THE GENERAL COUNSEL OF THE  TRUST
 OR  BY  ANY  ATTORNEY  OR  ATTORNEYS  DESIGNATED BY THE GENERAL COUNSEL,
 PROVIDED, HOWEVER, THAT THE EMPLOYEE SHALL BE ENTITLED TO BE REPRESENTED
 BY PRIVATE COUNSEL OF HIS OR HER CHOICE IN ANY CIVIL ACTION OR  PROCEED-
 ING  WHENEVER THE TRUST DETERMINES THAT REPRESENTATION WOULD BE INAPPRO-
 PRIATE, OR WHENEVER A COURT, UPON APPROPRIATE MOTION OR OTHERWISE  BY  A
 SPECIAL  PROCEEDING,  DETERMINES  THAT A CONFLICT OF INTEREST EXISTS AND
 THAT THE EMPLOYEE IS ENTITLED TO BE REPRESENTED BY  PRIVATE  COUNSEL  OF
 THE EMPLOYEE'S CHOICE. THE GENERAL COUNSEL OF THE TRUST SHALL NOTIFY THE
 EMPLOYEE  IN WRITING OF SUCH DETERMINATION THAT THE EMPLOYEE IS ENTITLED
 TO BE REPRESENTED BY PRIVATE COUNSEL. PROVIDED, HOWEVER, THAT THE  TRUST
 MAY  REQUIRE, AS A CONDITION TO PAYMENT OF THE FEES AND EXPENSES OF SUCH
 REPRESENTATION, THAT APPROPRIATE GROUPS OF SUCH EMPLOYEES BE REPRESENTED
 BY THE SAME COUNSEL. REASONABLE ATTORNEYS' FEES AND LITIGATION  EXPENSES
 SHALL  BE  PAID  BY  THE TRUST TO SUCH PRIVATE COUNSEL FROM TIME TO TIME
 DURING THE PENDENCY OF A CIVIL ACTION OR PROCEEDING.
   8. ANY DISPUTE WITH RESPECT TO REPRESENTATION OF MULTIPLE EMPLOYEES BY
 A SINGLE COUNSEL OR THE REASONABLENESS OF ATTORNEYS' FEES OR THE  AMOUNT
 OF  LITIGATION EXPENSES SHALL BE RESOLVED BY THE COURT UPON MOTION OR BY
 WAY OF A SPECIAL PROCEEDING.
   9. THE BENEFITS OF THIS SECTION  SHALL  INURE  ONLY  TO  EMPLOYEES  AS
 DEFINED  IN THIS SECTION AND SHALL NOT ENLARGE OR DIMINISH THE RIGHTS OF
 ANY OTHER PARTY NOR SHALL ANY PROVISION OF THIS SECTION BE CONSTRUED  TO
 AFFECT, ALTER OR REPEAL ANY PROVISION OF THE WORKERS' COMPENSATION LAW.
   10.  THE  PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY
 TO IMPAIR, ALTER, LIMIT OR MODIFY THE  RIGHTS  AND  OBLIGATIONS  OF  ANY
 INSURER UNDER ANY POLICY OF INSURANCE.
   11.  EXCEPT  AS  OTHERWISE  SPECIFICALLY PROVIDED IN THIS SECTION, THE
 PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY TO  IMPAIR,
 ALTER,  LIMIT, MODIFY, ABROGATE OR RESTRICT ANY IMMUNITY AVAILABLE TO OR
 CONFERRED UPON ANY UNIT, ENTITY, MEMBER,  OFFICER  OR  EMPLOYEE  OF  THE
 TRUST,  OR  ANY  RIGHT  TO  DEFENSE  OR INDEMNIFICATION PROVIDED FOR ANY
 MEMBER, OFFICER OR EMPLOYEE BY, IN ACCORDANCE WITH, OR BY REASON OF, ANY
 OTHER PROVISION OF STATE, FEDERAL OR LOCAL LAW OR COMMON LAW.
 A. 7805--A                         26
 
   12. EVERY ACTION OR PROCEEDING INSTITUTED PURSUANT TO  THE  PROVISIONS
 OF  THIS  SECTION  SHALL  BE  COMMENCED  PURSUANT TO SECTION SIX HUNDRED
 FORTY-TWO OF THIS ARTICLE, AND SUBJECT TO ANY  CONDITION  OR  LIMITATION
 SET FORTH IN SUCH SECTION.
   13.  THE  PROVISIONS  OF  THIS  SECTION SHALL APPLY TO THE ACTIONS AND
 PROCEEDINGS SET FORTH HEREIN NOTWITHSTANDING ANY INCONSISTENT PROVISIONS
 OF STATE OR LOCAL LAW.
   § 647. AUDIT AND ANNUAL REPORTS. THE  TRUST  SHALL  HAVE  AN  INTERNAL
 AUDIT FUNCTION AND SHALL ANNUALLY PREPARE AND SUBMIT REPORTS AS REQUIRED
 BY  THIS  SECTION,  PROVIDED THAT NO REPORT SHALL BE REQUIRED DURING THE
 FIRST YEAR AFTER THE EFFECTIVE DATE OF THIS SECTION.
   1. WITHIN ONE ONE HUNDRED TWENTY DAYS OF THE END OF THE CITY'S  FISCAL
 YEAR,  THE  TRUST  SHALL SUBMIT TO THE MAYOR OF THE CITY, THE RECOGNIZED
 CITYWIDE COUNCIL OF PRESIDENTS, OR AN EQUIVALENT SUCCESSOR BODY, AND THE
 NYCHA BOARD A REPORT ON ITS OPERATIONS DURING SUCH FISCAL YEAR. AN ANNU-
 AL AUDIT OF THE TRUST SHALL BE CONDUCTED  BY  AN  INDEPENDENT  CERTIFIED
 PUBLIC  ACCOUNTANT,  AND  THE  TRUST'S  INDEPENDENTLY  AUDITED FINANCIAL
 STATEMENTS SHALL BE INCLUDED IN  THIS  REPORT.  THE  REPORT  SHALL  ALSO
 DETAIL THE EXTENT OF COMPLETION OF ALL PROJECTS FOR DEVELOPMENT, DESIGN,
 CONSTRUCTION, RECONSTRUCTION, IMPROVEMENT, REHABILITATION, REPAIRING AND
 OPERATION  OF  HOUSING  FACILITIES,  INCLUDING,  BY  PROJECT, IDENTIFIED
 SHORTFALLS IN SCHEDULE PERFORMANCE AND PROVIDING  EXPLANATION  FOR  SUCH
 SHORTFALLS. SUCH REPORT SHALL DETAIL THE EXTENT OF COMPLETION AS EXISTED
 ON  THE  LAST  DAY  OF  THE  CITY'S  FISCAL YEAR. SUCH REPORT SHALL ALSO
 INCLUDE A DESCRIPTION OF EACH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT,
 INFORMATION  REGARDING THE PROCUREMENT PROCESS FOR EACH SUCH ALTERNATIVE
 PROJECT DELIVERY CONTRACT INCLUDING THE LIST OF RESPONDING ENTITIES THAT
 DEMONSTRATED THE GENERAL CAPABILITY TO PERFORM SUCH ALTERNATIVE  PROJECT
 DELIVERY  CONTRACT  PURSUANT  TO  PARAGRAPH  (A)  OF  SUBDIVISION ONE OF
 SECTION SIX HUNDRED THIRTY-FIVE OF THIS ARTICLE, THE TOTAL COST OF  EACH
 ALTERNATIVE  PROJECT  DELIVERY CONTRACT, AN EXPLANATION OF THE ESTIMATED
 SAVINGS ATTRIBUTABLE FROM  THE  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT
 STRUCTURE  USED, AND THE PARTICIPATION RATE OF AND TOTAL DOLLAR VALUE OF
 MONIES PAID TO MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES UNDER  SUCH
 CONTRACT. SUCH REPORT SHALL ALSO INCLUDE A DESCRIPTION OF THE EMPLOYMENT
 AND  OTHER  ECONOMIC  OPPORTUNITIES DIRECTED TO RESIDENTS OF THE HOUSING
 FACILITIES, SUCH AS REPORTING RELATED TO SECTION THREE  OF  THE  HOUSING
 AND  URBAN  DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED,
 PURSUANT TO SUBDIVISION THREE OF SECTION SIX HUNDRED THIRTY-TWO OF  THIS
 ARTICLE.  SUCH REPORT SHALL ALSO INCLUDE (I) AN ASSESSMENT OF THE EFFEC-
 TIVENESS  OF  INTERNAL  CONTROLS,  (II) ORGANIZATION CHART, (III) SALARY
 INFORMATION FOR ALL EMPLOYEES, (IV) DEBT ISSUANCE INFORMATION (INCLUDING
 OUTSTANDING DEBT AND ANY NEW DEBT TO BE ISSUED, COSTS OF ISSUANCE  DATA,
 BONDS  REDEEMED),  (V)  CERTAIN SUMMARY FINANCIAL INFORMATION, INCLUDING
 RECEIPTS AND DISBURSEMENTS, AS WELL  AS  ASSETS  AND  LIABILITIES,  (VI)
 ANNUAL PROCUREMENT REPORT, (VII) INVESTMENT OF AGENCY FUNDS INFORMATION,
 (VIII) INFORMATION REGARDING THE DISPOSITION OF TENANT COMPLAINTS, MAIN-
 TENANCE  OF  APARTMENTS AND FACILITIES, AND OTHER INFORMATION PERTAINING
 TO THE RIGHTS OF TENANTS TO REMAIN IN THEIR APARTMENT; AND (IX) INFORMA-
 TION REGARDING THE LEVEL OF OUTREACH TO, AND PARTICIPATION OF, RESIDENTS
 RELATED TO THE TRUST.   THE TRUST SHALL TRANSMIT  THE  PORTION  OF  SUCH
 REPORT  RELATING TO ALTERNATIVE PROJECT DELIVERY CONTRACTS TO THE GOVER-
 NOR, THE TEMPORARY PRESIDENT OF THE SENATE AND THE SPEAKER OF THE ASSEM-
 BLY.
   2. ON THE LAST BUSINESS DAY IN NOVEMBER OF  EACH  CALENDAR  YEAR,  THE
 TRUST  SHALL SUBMIT A REPORT DESCRIBING ITS STRATEGIC PLANNING FRAMEWORK
 A. 7805--A                         27
 
 FOR THE UPCOMING CALENDAR YEAR TO THE MAYOR OF THE CITY AND TO THE NYCHA
 BOARD. SUCH REPORT SHALL DESCRIBE ANY CAPITAL IMPROVEMENTS TO BE  UNDER-
 TAKEN  AND  THE APPROXIMATE COSTS OF SUCH IMPROVEMENTS AND SHALL PROVIDE
 INFORMATION  REGARDING  OPERATIONS, PROGRAMS, AND SERVICES OF THE TRUST.
 THE TRUST SHALL PRESENT A DRAFT OF THIS REPORT AT A MEETING OF THE BOARD
 SCHEDULED TO OCCUR NO LESS THAN FORTY-FIVE CALENDAR DAYS  PRIOR  TO  THE
 LAST BUSINESS DAY IN NOVEMBER. THE TRUST SHALL MAKE SUCH DRAFT AVAILABLE
 FOR  PUBLIC  REVIEW NO LESS THAN FIFTEEN CALENDAR DAYS BEFORE SUCH MEET-
 ING. THE TRUST SHALL OFFER THE PUBLIC AN  OPPORTUNITY  TO  PROVIDE  ORAL
 COMMENT  ON THE REPORT AT SUCH MEETING AND TO SUBMIT WRITTEN COMMENTS TO
 THE TRUST UNTIL A SPECIFIED DATE PRIOR TO THE DATE ON WHICH  THE  REPORT
 IS FINALIZED. THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED DURING SUCH
 PERIOD PRIOR TO FINALIZING THE REPORT REQUIRED BY THIS SUBDIVISION.
   §  648.  JURISDICTION  OVER  TRUST. 1. THE TRUST SHALL NOT BE DEEMED A
 "COVERED ORGANIZATION" AS DEFINED IN THE NEW YORK STATE FINANCIAL  EMER-
 GENCY ACT FOR THE CITY OF NEW YORK.
   2.  THE DEPARTMENT OF INVESTIGATION OF THE CITY SHALL BE AUTHORIZED TO
 CONDUCT INVESTIGATIONS RELATING TO THE TRUST PURSUANT TO  CHAPTER  THIR-
 TY-FOUR OF THE NEW YORK CITY CHARTER.
   3.  THE  COMPTROLLER  OF  THE  CITY,  OR HIS OR HER LEGALLY AUTHORIZED
 REPRESENTATIVE, IS HEREBY AUTHORIZED AND EMPOWERED FROM TIME TO TIME  TO
 EXAMINE  THE  BOOKS  AND  ACCOUNTS  OF THE TRUST INCLUDING ITS RECEIPTS,
 DISBURSEMENTS, CONTRACTS, RESERVE FUNDS, SINKING FUNDS, INVESTMENTS, AND
 ANY OTHER MATTERS RELATING TO ITS FINANCIAL STANDING.
   4. THE TRUST SHALL NOT BE DEEMED  A  "LOCAL  AUTHORITY"  OR  A  "STATE
 AUTHORITY"  FOR  PURPOSES  OF  THE PUBLIC AUTHORITIES LAW, AND SHALL NOT
 OTHERWISE BE SUBJECT TO PROVISIONS OF SUCH LAW WITH  RESPECT  TO  PUBLIC
 AUTHORITIES, EXCEPT AS MAY BE SPECIFICALLY PROVIDED FOR BY THIS ARTICLE.
   § 649. EFFECT OF INCONSISTENT PROVISIONS. INSOFAR AS THE PROVISIONS OF
 THIS  ARTICLE  ARE  INCONSISTENT  WITH  THE PROVISIONS OF ANY OTHER LAW,
 GENERAL, SPECIAL OR LOCAL OR OF THE NEW YORK CITY CHARTER OR  ANY  LOCAL
 LAW,  ORDINANCE OR RESOLUTION OF THE CITY, THE PROVISION OF THIS ARTICLE
 SHALL BE CONTROLLING, PROVIDED THAT NOTHING CONTAINED  IN  THIS  SECTION
 SHALL  BE HELD TO SUPPLEMENT OR OTHERWISE EXPAND THE POWERS OR DUTIES OF
 THE TRUST OTHERWISE SET FORTH IN THIS ARTICLE.
   § 650. SEVERABILITY. IF ANY PROVISION OF THIS ARTICLE OR ITS  APPLICA-
 TION  TO ANY PERSON OR CIRCUMSTANCE IS HELD UNCONSTITUTIONAL OR INVALID,
 IN WHOLE OR IN PART, BY ANY COURT, SUCH HOLDING  OF  UNCONSTITUTIONALITY
 OR  INVALIDITY  SHALL  IN NO WAY AFFECT OR IMPAIR ANY OTHER PROVISION OF
 THIS ARTICLE OR THE APPLICATION OF  ANY  SUCH  PROVISION  TO  ANY  OTHER
 PERSON  OR  CIRCUMSTANCE, AND TO THIS END THE PROVISIONS OF THIS ARTICLE
 ARE SEVERABLE.
   § 2. Paragraph b of subdivision 3 of section 13-101 of the administra-
 tive code of the city of New York, as amended by chapter 16 of the  laws
 of 1997, is amended to read as follows:
   b.  Service as a paid employee of the triborough bridge authority, the
 Henry Hudson parkway authority, the Marine parkway  authority,  the  New
 York city tunnel authority, the New York city parkway authority, the New
 York  city housing authority, THE NEW YORK CITY PUBLIC HOUSING PRESERVA-
 TION TRUST, the triborough bridge and tunnel  authority,  the  New  York
 city  transit  authority,  the  New York city housing development corpo-
 ration, the New York city health and hospitals corporation, the New York
 city  off-track  betting  corporation,  the   New   York   city   school
 construction  authority,  the  New  York  city  municipal  water finance
 authority, the New York city water board, the transit construction fund,
 the New York city transitional finance  authority,  the  New  York  city
 A. 7805--A                         28
 
 sports authority and the New York city rehabilitation mortgage insurance
 corporation shall constitute city-service as herein defined.
   § 3. Paragraph 1 of subdivision c of section 13-133 of the administra-
 tive  code of the city of New York, subparagraph (C) as added by chapter
 738 of the laws of 1988, subparagraphs (D) and (E) as added  by  chapter
 609  of the laws of 1995, subparagraph (F) as added by chapter 16 of the
 laws of 1997, and subparagraph (G) as added by chapter 3 of the laws  of
 2013, is amended to read as follows:
   (1)  (A)  The comptroller shall make monthly payments, in twelve equal
 installments, with respect to obligations which the city incurs  to  pay
 sums to the retirement system.
   (B)  The  New  York  city  health and hospitals corporation shall make
 monthly payments, in twelve equal installments, with  respect  to  obli-
 gations which it incurs to pay sums to the retirement system.
   (C) The New York city school construction authority shall make monthly
 payments,  in  twelve  equal  installments,  with respect to obligations
 which it incurs to pay sums to the retirement system.
   (D) The New York city municipal water  finance  authority  shall  make
 monthly  payments,  in  twelve equal installments, with respect to obli-
 gations, if any, which it incurs to pay sums to the retirement system.
   (E) The New York city water board  shall  make  monthly  payments,  in
 twelve equal installments, with respect to obligations, if any, which it
 incurs to pay sums to the retirement system.
   (F) The New York city transitional finance authority shall make month-
 ly  payments,  in twelve equal installments, with respect to obligations
 which it incurs to pay sums to the retirement system.
   (G) THE NEW YORK CITY PUBLIC HOUSING  PRESERVATION  TRUST  SHALL  MAKE
 MONTHLY  PAYMENTS,  IN  TWELVE EQUAL INSTALLMENTS, WITH RESPECT TO OBLI-
 GATIONS WHICH IT INCURS TO PAY SUMS TO THE RETIREMENT SYSTEM.
   (H) Where a responsible obligor (as defined in paragraph ten of subdi-
 vision a of section 13-638.2 of this title) is required to make payments
 to the retirement system pursuant to applicable  provisions  of  law  in
 fiscal  year  two  thousand  twelve--two  thousand  thirteen, and in any
 fiscal year thereafter, and the provisions of this  subdivision  or  the
 provisions  of  any  other  applicable law do not otherwise specifically
 require such responsible obligor to make such payments by  a  particular
 date  or  dates  during such fiscal year, such responsible obligor shall
 make such payments either (i) in total on or  before  January  first  of
 such  fiscal  year,  or  (ii)  in  twelve equal monthly installments, as
 determined by the actuary, with each monthly installment to be  paid  on
 or before the last day of each month.
   §  4.  This  act  shall take effect on the sixtieth day after it shall
 have become a law. Provided that any public officer or employee, includ-
 ing but not limited to the mayor of the city of New York and  the  chief
 executive  officer of the New York city housing authority, is authorized
 to take any action that is necessary for the  timely  implementation  of
 this act prior to its effective date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7805--B
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 21, 2021
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ,  FALL, BENEDETTO, BURDICK, COOK,
   TAPIA, CUSICK, J. RIVERA, SEAWRIGHT, DINOWITZ, EICHENSTEIN, KIM, DAVI-
   LA, D. ROSENTHAL -- read once and referred to the Committee on Housing
   -- recommitted to the Committee on Housing in accordance with Assembly
   Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
   reprinted  as  amended  and  recommitted  to  said  committee -- again
   reported from said committee with  amendments,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  amend the public housing law and the administrative code of
   the city of New York, in relation to establishing the  New  York  city
   public  housing preservation trust for properties owned or operated by
   the New York city housing authority and providing for the issuance  of
   certain bonds, notes or other obligations of the New York city housing
   development corporation
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The public housing law is amended by adding a  new  article
 15 to read as follows:
                                ARTICLE XV
              NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST
 
 SECTION 625. SHORT TITLE.
         626. LEGISLATIVE FINDINGS.
         627. DEFINITIONS.
         628. NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
         629. POWERS AND DUTIES OF THE TRUST.
         630. TRANSFER OF PROPERTY.
         631. EXEMPTION   FROM  LAND  USE  REVIEW  PROCEDURES  AND  OTHER
                REQUIREMENTS.
         632. RESIDENT PROTECTIONS AND OPPORTUNITIES.
         633. COMPLIANCE WITH CODES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11275-14-2
              

 A. 7805--B                          2
 
         634. CONTRACTS OF THE TRUST.
         635. ALTERNATIVE PROJECT DELIVERY CONTRACTS.
         636. ADDITIONAL AUTHORITY.
         637. ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE PROJECT DELIVERY
                CONTRACTS.
         638. BORROWING BY THE TRUST AND  FOR  ITS  BENEFIT;  EFFECTS  OF
                CERTAIN DEFAULTS.
         639. RESOURCES OF THE TRUST.
         640. LEGAL INVESTMENT AND DEPOSIT.
         641. TAX EXEMPTION AND TAX CONTRACT BY THE STATE.
         642. ACTIONS AGAINST THE TRUST.
         643. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP.
         644. COLLECTIVE NEGOTIATION.
         645. APPLICATION OF STATE AND LOCAL HUMAN RIGHTS LAWS.
         646. LIMITED LIABILITY.
         647. AUDIT AND ANNUAL REPORTS.
         648. JURISDICTION OVER TRUST.
         649. EFFECT OF INCONSISTENT PROVISIONS.
         650. SEVERABILITY.
 
   §  625.  SHORT  TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
 THE "NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST ACT".
   § 626. LEGISLATIVE FINDINGS. THE LEGISLATURE HEREBY FINDS AND DECLARES
 THAT SIGNIFICANT CAPITAL INVESTMENT  IS  REQUIRED  TO  DESIGN,  DEVELOP,
 CONSTRUCT, RECONSTRUCT, IMPROVE, MODERNIZE, REHABILITATE, AND REPAIR THE
 AGING BUILDINGS OWNED OR OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY
 WHICH  ARE  DETERIORATING  DUE TO DECADES OF DIMINISHING CAPITAL INVEST-
 MENT. RESTRICTIONS RELATING TO THE NEW  YORK  CITY  HOUSING  AUTHORITY'S
 CONSTRUCTION  PROCESS,  AND  ITS INABILITY TO UTILIZE INNOVATIVE PROJECT
 DELIVERY METHODS, HAVE EXACERBATED ITS CAPITAL NEEDS. A NEW PUBLIC ENTI-
 TY WITH GREATER FLEXIBILITY TO LEVERAGE CAPITAL INVESTMENT AND TO MANAGE
 THE REHABILITATION OF THESE PROPERTIES MUST BE ESTABLISHED.   REPAIRING,
 MODERNIZING,  AND  IMPROVING  NEW  YORK CITY HOUSING AUTHORITY BUILDINGS
 MUST BEGIN IMMEDIATELY SO THAT HUNDREDS OF THOUSANDS OF NEW YORKERS  CAN
 RESIDE IN AFFORDABLE HOUSING THAT IS DECENT, SAFE, SANITARY, AND IN GOOD
 REPAIR.   ESTABLISHING A NEW PUBLIC ENTITY, AND TRANSFERRING A LEASEHOLD
 INTEREST IN THE BUILDINGS OWNED AND OPERATED BY THE NEW YORK CITY  HOUS-
 ING  AUTHORITY TO THIS NEW ENTITY SO THAT THEY CAN UNDERGO THE NECESSARY
 REHABILITATION, REPAIR AND MODERNIZATION, WILL ENSURE THAT THESE  BUILD-
 INGS  CONTINUE  TO  PROVIDE  AFFORDABLE HOUSING TO RESIDENTS OF NEW YORK
 CITY FOR MANY DECADES INTO THE  FUTURE.  IT  IS  THE  UNDERSTANDING  AND
 INTENTION  OF  THE LEGISLATURE THAT ANY BUILDING TRANSFERRED TO THIS NEW
 PUBLIC ENTITY AND OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY  SHALL
 CONTINUE TO BE SUBJECT TO THE OBLIGATIONS IMPOSED BY MARIBEL BAEZ ET AL.
 V. NEW YORK CITY HOUSING AUTHORITY, NO. 13-CIV-8916.
   § 627. DEFINITIONS. AS USED OR REFERRED TO IN THIS ARTICLE:
   1.  "ALTERNATIVE PROJECT DELIVERY CONTRACT" MEANS ANY PROJECT DELIVERY
 METHOD AUTHORIZED BY THIS ARTICLE, INCLUDING CONSTRUCTION MANAGER BUILD,
 CONSTRUCTION MANAGER AT RISK, AND DESIGN-BUILD, PURSUANT TO WHICH ONE OR
 MORE CONTRACTS FOR THE PROVISION OF DESIGN  OR  CONSTRUCTION  MANAGEMENT
 AND  CONSTRUCTION  SERVICES  ARE AWARDED PURSUANT TO AN OPEN AND COMPET-
 ITIVE METHOD OF PROCUREMENT, AS SPECIFIED IN SECTION SIX  HUNDRED  THIR-
 TY-FIVE OF THIS ARTICLE.
   2. "BEST VALUE" MEANS THE BASIS FOR AWARDING CONTRACTS FOR SERVICES TO
 A  PROPOSER  THAT  OPTIMIZES  QUALITY,  COST  AND  EFFICIENCY, PRICE AND
 PERFORMANCE CRITERIA, WHICH MAY INCLUDE, BUT IS NOT LIMITED TO:
 A. 7805--B                          3

   (A) THE QUALITY OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (B) THE TIMELINESS OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (C) THE LEVEL OF CUSTOMER SATISFACTION WITH THE PROPOSER'S PERFORMANCE
 ON PREVIOUS PROJECTS;
   (D)  THE  PROPOSER'S  RECORD OF PERFORMING PREVIOUS PROJECTS ON BUDGET
 AND ABILITY TO MINIMIZE COST OVERRUNS;
   (E) THE PROPOSER'S ABILITY TO LIMIT CHANGE ORDERS;
   (F) THE PROPOSER'S ABILITY TO PREPARE APPROPRIATE PROJECT PLANS;
   (G) THE PROPOSER'S TECHNICAL CAPACITIES;
   (H) THE INDIVIDUAL QUALIFICATIONS OF THE PROPOSER'S KEY PERSONNEL;
   (I) THE PROPOSER'S ABILITY TO ASSESS AND MANAGE RISK AND MINIMIZE RISK
 IMPACT;
   (J) THE PROPOSER'S FINANCIAL CAPABILITY;
   (K) THE PROPOSER'S ABILITY TO  COMPLY  WITH  APPLICABLE  REQUIREMENTS,
 INCLUDING THE PROVISIONS OF ARTICLES ONE HUNDRED FORTY-FIVE, ONE HUNDRED
 FORTY-SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW;
   (L)  THE PROPOSER'S PAST RECORD OF COMPLIANCE WITH FEDERAL LAWS, STATE
 AND LOCAL LAWS, RULES, LICENSING  REQUIREMENTS,  WHERE  APPLICABLE,  AND
 EXECUTIVE  ORDERS,  INCLUDING,  BUT NOT LIMITED TO, SECTION THREE OF THE
 HOUSING AND URBAN DEVELOPMENT ACT OF NINETEEN  HUNDRED  SIXTY-EIGHT,  AS
 AMENDED,  OR ANY SUCCESSOR PROVISION, ARTICLE FIFTEEN-A OF THE EXECUTIVE
 LAW, ANY OTHER APPLICABLE  LAWS  CONCERNING  MINORITY-  AND  WOMEN-OWNED
 BUSINESS ENTERPRISE PARTICIPATION, THE LABOR LAW, AND ANY OTHER APPLICA-
 BLE LABOR AND PREVAILING WAGE LAWS;
   (M)  THE PROPOSER'S RECORD OF COMPLYING WITH EXISTING LABOR STANDARDS,
 MAINTAINING HARMONIOUS LABOR RELATIONS, AND PROTECTING  THE  HEALTH  AND
 SAFETY  OF WORKERS AND PAYMENT OF WAGES ABOVE ANY LOCALLY-DEFINED LIVING
 WAGE;
   (N) A QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS  OR  OFFERS
 FOR  AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT ARE CERTIFIED AS
 MINORITY  OR  WOMEN  OWNED  BUSINESS  ENTERPRISES  PURSUANT  TO  ARTICLE
 FIFTEEN-A OF THE EXECUTIVE LAW OR CERTIFIED PURSUANT TO SECTION THIRTEEN
 HUNDRED  FOUR  OF  THE  NEW YORK CITY CHARTER AS MINORITY OR WOMEN OWNED
 BUSINESS ENTERPRISES, OR WHERE THE BIDDER IS A JOINT  VENTURE  INCLUDING
 AT LEAST ONE SUCH CERTIFIED FIRM. WHERE THE TRUST IDENTIFIES A QUANTITA-
 TIVE  FACTOR  PURSUANT  TO  THIS PARAGRAPH, THE TRUST SHALL SPECIFY THAT
 BUSINESSES CERTIFIED AS MINORITY OR  WOMEN  OWNED  BUSINESS  ENTERPRISES
 PURSUANT  TO  ARTICLE  FIFTEEN-A  OF  THE EXECUTIVE LAW AS WELL AS THOSE
 CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT  TO
 SECTION  THIRTEEN  HUNDRED  FOUR  OF THE NEW YORK CITY CHARTER, OR JOINT
 VENTURES INCLUDING AT LEAST ONE SUCH CERTIFIED  FIRM,  ARE  ELIGIBLE  TO
 QUALIFY FOR SUCH FACTOR. NOTHING IN THIS PARAGRAPH SHALL BE CONSTRUED TO
 REQUIRE  THAT  SUCH  BUSINESSES BE CONCURRENTLY CERTIFIED AS MINORITY OR
 WOMEN OWNED BUSINESS ENTERPRISES UNDER SUCH ARTICLE AND SUCH SECTION  TO
 QUALIFY FOR SUCH QUANTITATIVE FACTOR; AND
   (O)  A  QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS OR OFFERS
 FOR AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT CONSTITUTE  BUSI-
 NESS  CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR LOW AND VERY LOW-
 INCOME PERSONS. SUCH BASIS SHALL REFLECT, WHEREVER  POSSIBLE,  OBJECTIVE
 AND QUANTIFIABLE ANALYSIS.
   3. "BOARD" MEANS THE BOARD OF TRUSTEES OF THE TRUST.
   4. "CITY" MEANS THE CITY OF NEW YORK.
   5.  "CONSTRUCTION  MANAGER  AT  RISK"  MEANS A PROJECT DELIVERY METHOD
 WHEREBY A CONSTRUCTION MANAGER:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
 A. 7805--B                          4

   (B)  DURING  THE  CONSTRUCTION  PHASE,  ACTS AS GENERAL CONTRACTOR FOR
 AGREED UPON COMPENSATION AS SET FORTH IN  THE  CONSTRUCTION  MANAGER  AT
 RISK AGREEMENT; AND
   (C)  ASSUMES THE RISK OF CONSTRUCTION COSTS EXCEEDING AN AMOUNT SPECI-
 FIED IN THE CONSTRUCTION MANAGER AT RISK AGREEMENT.
   6. "CONSTRUCTION MANAGER BUILD" MEANS A PROJECT DELIVERY METHOD WHERE-
 BY A CONSTRUCTION MANAGER:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
   (B)  UNDER  THE  OVERSIGHT  OF  THE OWNER ACTS AS THE SINGLE SOURCE OF
 RESPONSIBILITY TO BID, SELECT AND HOLD CONSTRUCTION CONTRACTS ON  BEHALF
 OF THE OWNER DURING THE CONSTRUCTION PHASE; AND
   (C) MANAGES THE CONSTRUCTION PROJECT ON BEHALF OF THE OWNER.
   7.  "COST  PLUS"  MEANS  COMPENSATING  A  CONTRACTOR  FOR  THE COST TO
 COMPLETE A CONTRACT BY REIMBURSING ACTUAL COSTS FOR LABOR, EQUIPMENT AND
 MATERIALS PLUS AN ADDITIONAL AMOUNT FOR OVERHEAD AND PROFIT.
   8. "DESIGN-BUILD" MEANS A PROJECT DELIVERY METHOD FOR THE  DESIGN  AND
 CONSTRUCTION  OF  A  PROJECT  WITH  A SINGLE ENTITY, WHICH MAY BE A TEAM
 COMPRISED OF SEPARATE ENTITIES.
   9. "GROUND LEASE" MEANS THE WRITTEN INSTRUMENT PURSUANT TO WHICH NYCHA
 TRANSFERS TO THE TRUST ITS LEASEHOLD INTEREST IN ITS HOUSING  FACILITIES
 AND ANCILLARY PERSONAL PROPERTY.
   10. "HOUSING FACILITIES" MEANS THE LAND AND BUILDINGS THEREON OWNED OR
 OPERATED  BY  NYCHA AND THE IMPROVEMENTS MADE TO SUCH LAND AND BUILDINGS
 FOR USE IN CONNECTION WITH DEVELOPMENT OR OPERATION OF DWELLING ACCOMMO-
 DATIONS FOR LOW-INCOME FAMILIES.
   11. "LOW-INCOME FAMILIES" MEANS LOW-, VERY LOW-, AND EXTREMELY LOW-IN-
 COME FAMILIES AS DEFINED IN PARAGRAPH TWO OF SUBSECTION (B)  OF  SECTION
 1437A  OF  TITLE  FORTY-TWO  OF  THE UNITED STATES CODE OR ANY SUCCESSOR
 PROVISION.
   12. "MAYOR" MEANS THE MAYOR OF THE CITY OF NEW YORK.
   13. "NYCHA" MEANS THE NEW YORK CITY HOUSING AUTHORITY.
   14. "NYCHA BOARD" MEANS THE MEMBERS OF  NYCHA  APPOINTED  PURSUANT  TO
 SUBDIVISION THREE OF SECTION FOUR HUNDRED TWO OF THIS CHAPTER.
   15.  "NYCHA CEO" MEANS THE CHIEF EXECUTIVE OFFICER OF NYCHA WHO SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   16. "NYCHA CFO" MEANS THE CHIEF FINANCIAL OFFICER OF NYCHA WHO  SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   17. "OTHER RESIDENTS" MEANS RESIDENTS WHO ARE:
   (A)  RESIDENTS  OF A HOUSING FACILITY ON THE DATE NYCHA TRANSFERS SUCH
 FACILITY TO THE TRUST BUT ARE NOT LOW-INCOME  FAMILIES,  AS  DEFINED  IN
 THIS SECTION, ON THE DATE OF SUCH TRANSFER;
   (B)  LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, AND RESIDENTS OF
 A HOUSING FACILITY ON THE DATE NYCHA  TRANSFERS  SUCH  FACILITY  TO  THE
 TRUST  BUT WHO, SUBSEQUENT TO SUCH TRANSFER AND DURING THE COURSE OF THE
 TENANCIES OF SUCH RESIDENTS, NO LONGER SATISFY THE DEFINITION OF LOW-IN-
 COME FAMILIES; OR
   (C) LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, UPON COMMENCEMENT
 OF THEIR TENANCIES IN A HOUSING FACILITY OPERATED BY THE TRUST BUT  WHO,
 DURING THE COURSE OF THE TENANCIES OF SUCH RESIDENTS, DO NOT SATISFY THE
 DEFINITION OF LOW-INCOME FAMILIES.
   18. "PROJECT LABOR AGREEMENT" SHALL HAVE THE SAME MEANING AS DESCRIBED
 IN SUBDIVISION ONE OF SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW. A
 PROJECT LABOR AGREEMENT SHALL REQUIRE PARTICIPATION IN APPRENTICE TRAIN-
 ING  PROGRAMS  IN  ACCORDANCE  WITH  PARAGRAPH (E) OF SUBDIVISION TWO OF
 SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW.
 A. 7805--B                          5
 
   19. "RESIDENT" MEANS A NATURAL PERSON WHOSE LAWFUL  PRIMARY  RESIDENCE
 IS A DWELLING UNIT IN A HOUSING FACILITY.
   20. "TRUST" MEANS THE NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
   21.  "VOTING  PROCESS" MEANS THE PROCESS THAT SHALL BE UNDERTAKEN AT A
 PARTICULAR HOUSING FACILITY  BEFORE  THE  TRUST  MAY  TRANSFER,  CONVEY,
 ASSIGN,  MORTGAGE,  PLEDGE  OR  OTHERWISE  ENCUMBER  ANY INTEREST IN, OR
 PERMIT OR SUFFER ANY TRANSFER, CONVEYANCE, ASSIGNMENT, MORTGAGE,  PLEDGE
 OR  OTHER  ENCUMBRANCE  OF  ANY  INTEREST  IN SUCH HOUSING FACILITY. THE
 VOTING PROCESS SHALL BE FURTHER DEFINED AS  SET  FORTH  IN  REQUIREMENTS
 PROMULGATED PURSUANT TO SECTION SIX HUNDRED THIRTY OF THIS ARTICLE.
   §  628.  NEW  YORK CITY PUBLIC HOUSING PRESERVATION TRUST. 1. THERE IS
 HEREBY ESTABLISHED A PUBLIC BENEFIT CORPORATION TO BE KNOWN AS THE  "NEW
 YORK  CITY PUBLIC HOUSING PRESERVATION TRUST". THE PURPOSE OF SUCH TRUST
 SHALL BE THE DESIGN, DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION, IMPROVE-
 MENT, MODERNIZATION, REHABILITATION, REPAIRING AND OPERATION OF  HOUSING
 FACILITIES.
   2. THE TRUST SHALL BE GOVERNED BY AND ITS POWERS SHALL BE EXERCISED BY
 A BOARD OF TRUSTEES CONSISTING OF NINE MEMBERS. THE MEMBERS SHALL BE THE
 NYCHA  CEO,  THE  NYCHA  CFO,  THE DEPUTY MAYOR FOR HOUSING AND ECONOMIC
 DEVELOPMENT OF THE CITY OF NEW YORK, OR ANOTHER DEPUTY MAYOR  DESIGNATED
 BY  THE  MAYOR  IF THERE IS NO DEPUTY MAYOR WITH THAT DESIGNATION, THREE
 MEMBERS APPOINTED BY THE NYCHA CEO, INCLUDING TWO HOUSING FACILITY RESI-
 DENT MEMBERS AND ONE MEMBER AT LARGE, PROVIDED  THAT  ONE  SUCH  HOUSING
 FACILITY RESIDENT MEMBER SHALL BE SELECTED FROM TWO CANDIDATES NOMINATED
 BY  THE  RECOGNIZED  CITYWIDE  COUNCIL  OF  PRESIDENTS, OR AN EQUIVALENT
 SUCCESSOR BODY, AND ONE SUCH HOUSING FACILITY RESIDENT MEMBER  SHALL  BE
 SELECTED  FROM  TWO CANDIDATES NOMINATED BY THE RESIDENT ADVISORY BOARD,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  THREE  MEMBERS  APPOINTED  BY  THE
 MAYOR,  INCLUDING  TWO  HOUSING FACILITY RESIDENT MEMBERS, PROVIDED THAT
 ONE SUCH HOUSING FACILITY RESIDENT MEMBER SHALL  BE  SELECTED  FROM  TWO
 CANDIDATES  NOMINATED  BY THE RECOGNIZED CITYWIDE COUNCIL OF PRESIDENTS,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  ONE  MEMBER  WHO  SHALL  REPRESENT
 EMPLOYEES  OF  NYCHA, AS APPLICABLE, AND BE SELECTED FROM TWO CANDIDATES
 NOMINATED BY ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA OR THE TRUST,
 AS APPLICABLE.  THE NYCHA CEO SHALL BE THE CHAIR  OF  THE  TRUST.    THE
 BOARD OF TRUSTEES OF THE TRUST SHALL APPOINT THE PRESIDENT OF THE TRUST.
 THE  TERM  OF EACH MEMBER, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS, SHALL BE THREE YEARS, EXCEPT AT INITIAL APPOINTMENT WHEN  THE
 TERMS  SHALL  BE  STAGGERED  SO THAT NO MORE THAN TWO MEMBERS SHALL HAVE
 TERMS THAT END IN ANY GIVEN YEAR, PROVIDED THAT THE  TERM  OF  ONLY  ONE
 MEMBER APPOINTED BY THE MAYOR SHALL END IN ANY GIVEN YEAR.
   3.  EACH  APPOINTED  MEMBER SHALL CONTINUE IN OFFICE UNTIL A SUCCESSOR
 HAS BEEN APPOINTED AND QUALIFIED UNLESS OTHERWISE REMOVED AS FOLLOWS.  A
 MEMBER  MAY  BE  REMOVED  BY THE NYCHA CEO OR MAYOR, WHICHEVER APPOINTED
 SUCH MEMBER, UPON THE FILING IN THE OFFICE OF THE TRUST AND SERVING UPON
 THE MEMBER THE REASONS  THEREFOR.    SUCH  DOCUMENT  SETTING  FORTH  THE
 REASONS  SHALL  BE  MADE  AVAILABLE  TO  THE  GENERAL PUBLIC WHICH SHALL
 INCLUDE, BUT NOT BE LIMITED TO, PUBLISHING SUCH REASONS ON THE  WEBSITES
 OF  THE  TRUST AND NYCHA. IN THE EVENT A VACANCY OCCURS IN THE OFFICE OF
 AN APPOINTED MEMBER, THE VACANCY SHALL BE FILLED IN THE SAME  MANNER  AS
 WAS THE ORIGINAL APPOINTMENT OF THE MEMBER WHOSE OFFICE BECAME VACANT.
   4. APPOINTED MEMBERS MAY ENGAGE IN PRIVATE EMPLOYMENT, OR IN A PROFES-
 SION  OR  BUSINESS,  UNLESS  OTHERWISE  PROHIBITED BY LAW, RULE OR REGU-
 LATION, PROVIDED, HOWEVER, THAT NOTWITHSTANDING ANY APPLICABLE PROVISION
 OF LAW, THE MEMBERS SHALL BE SUBJECT TO  THE  LIMITATIONS  CONTAINED  IN
 SECTIONS  TWO THOUSAND SIX HUNDRED THREE, TWO THOUSAND SIX HUNDRED FOUR,
 A. 7805--B                          6
 
 TWO THOUSAND SIX HUNDRED FIVE, AND TWO THOUSAND SIX HUNDRED SIX  OF  THE
 NEW  YORK  CITY  CHARTER.  THE TRUST SHALL BE AN AGENCY AND SUCH MEMBERS
 SHALL BE PUBLIC SERVANTS FOR THE PURPOSES OF SUCH SECTIONS. IN ADDITION,
 SUCH  MEMBERS SHALL BE SUBJECT TO THE PROVISIONS OF SECTION ONE THOUSAND
 ONE HUNDRED SIXTEEN OF THE NEW YORK  CITY  CHARTER  AND  SHALL  FOR  THE
 PURPOSES  OF  SUCH  SECTION BE CONSIDERED OFFICERS OF THE CITY. FURTHER,
 SUCH MEMBERS, THE PRESIDENT AND CERTAIN CRITICAL EMPLOYEES OF THE  TRUST
 AS  DESIGNATED  BY  THE  BOARD OR THE PRESIDENT, SHALL BE SUBJECT TO THE
 PROVISIONS OF SECTION 12-110 OF THE ADMINISTRATIVE CODE OF THE  CITY  OF
 NEW  YORK PERTAINING TO THE FILING OF ANNUAL DISCLOSURE REPORTS WITH THE
 CITY CONFLICTS OF INTEREST BOARD, AND FOR SUCH PURPOSE, THE  MEMBERS  OF
 THE  BOARD  OF TRUSTEES SHALL BE DEEMED TO BE COMPENSATED MEMBERS OF THE
 TRUST.
   5. THE BOARD SHALL PROVIDE FOR THE HOLDING OF  REGULAR  MEETINGS,  AND
 SUCH  SPECIAL MEETINGS, AT THE CALL OF THE CHAIR OF THE TRUST, AS MAY BE
 NECESSARY.  A MAJORITY OF THE WHOLE NUMBER OF MEMBERS SHALL CONSTITUTE A
 QUORUM FOR THE TRANSACTION OF BUSINESS. THE POWERS OF THE BOARD SHALL BE
 VESTED IN AND EXERCISED BY A MAJORITY OF THE WHOLE NUMBER OF THE MEMBERS
 THEREOF.  ANY ONE OR MORE MEMBERS OF THE  BOARD  MAY  PARTICIPATE  IN  A
 MEETING OF THE TRUST BY MEANS OF VIDEOCONFERENCING CONSISTENT WITH ARTI-
 CLE SEVEN OF THE PUBLIC OFFICERS LAW.
   6. MEMBERS OF THE BOARD, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS,  SHALL  RECEIVE  A STIPEND IN THE AMOUNT OF TWO HUNDRED FIFTY
 DOLLARS FOR EVERY FOUR HOURS OF WORK PERFORMED FOR  THE  TRUST,  NOT  TO
 EXCEED  ONE  THOUSAND  FIVE  HUNDRED  DOLLARS  PER MONTH.   IN ADDITION,
 MEMBERS SHALL BE  REIMBURSED  FOR  THE  ACTUAL  AND  NECESSARY  EXPENSES
 INCURRED  BY THEM IN THE PERFORMANCE OF THEIR OFFICIAL DUTIES AS MEMBERS
 OF THE BOARD OF TRUSTEES.
   7. THE BOARD SHALL APPOINT A PRESIDENT OF THE TRUST AND DETERMINE  THE
 COMPENSATION  OF THE PRESIDENT. THE PRESIDENT, WHO SHALL NOT BE A MEMBER
 OF THE BOARD, SHALL BE THE CHIEF EXECUTIVE  OFFICER  OF  THE  TRUST  AND
 SHALL  BE RESPONSIBLE FOR THE DISCHARGE OF THE EXECUTIVE AND ADMINISTRA-
 TIVE FUNCTIONS AND POWERS OF THE TRUST, INCLUDING THE  EXERCISE  OF  ANY
 POWERS  DELEGATED  BY  THE  BOARD  TO THE PRESIDENT. THE PRESIDENT SHALL
 SERVE AT THE PLEASURE OF THE BOARD.
   8. THE TRUST SHALL CONTINUE SO LONG AS IT SHALL HAVE NOTES,  BONDS  OR
 OTHER  OBLIGATIONS  OUTSTANDING  (INCLUDING  NOTES, BONDS OR OBLIGATIONS
 HEREAFTER ISSUED OR INCURRED) AND UNTIL ITS EXISTENCE  SHALL  BE  TERMI-
 NATED  BY  LAW.  UPON THE TERMINATION OF THE EXISTENCE OF THE TRUST, ALL
 ITS RIGHTS AND PROPERTIES SHALL PASS TO AND BE VESTED IN NYCHA.
   9. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, NO OFFICER OR
 EMPLOYEE OF THE STATE, OR OF ANY  CIVIL  DIVISION  THEREOF,  OR  OF  ANY
 PUBLIC  CORPORATION, AS DEFINED IN THE GENERAL CONSTRUCTION LAW, INCLUD-
 ING NYCHA, SHALL BE DEEMED TO  HAVE  FORFEITED  OR  SHALL  FORFEIT  SUCH
 PERSON'S OFFICE OR EMPLOYMENT OR ANY BENEFITS PROVIDED UNDER THE RETIRE-
 MENT AND SOCIAL SECURITY LAW OR UNDER ANY PUBLIC RETIREMENT SYSTEM MAIN-
 TAINED  BY  THE  STATE OR BY THE CIVIL DIVISIONS THEREOF, OR BY ANY SUCH
 PUBLIC CORPORATION, BY REASON OF SUCH PERSON'S ACCEPTANCE OF  MEMBERSHIP
 ON  THE  BOARD OF THE TRUST OR BY VIRTUE OF SUCH PERSON BEING AN OFFICER
 OR EMPLOYEE OF THE TRUST.
   § 629. POWERS AND DUTIES OF  THE  TRUST.  THE  TRUST  SHALL  HAVE  THE
 FOLLOWING POWERS AND DUTIES:
   1. TO SUE AND BE SUED;
   2. TO HAVE A SEAL AND ALTER THE SAME AT PLEASURE;
 A. 7805--B                          7
 
   3.  TO  MAKE  AND,  AS  NECESSARY, TO AMEND AND REPEAL BY-LAWS FOR THE
 TRUST AND THE MANAGEMENT AND REGULATION OF ITS AFFAIRS NOT  INCONSISTENT
 WITH THE PROVISIONS OF THIS ARTICLE;
   4.  TO  APPOINT  THE  PRESIDENT  OF  THE TRUST AND FIX THE PRESIDENT'S
 COMPENSATION, PURSUANT TO SECTION SIX HUNDRED TWENTY-EIGHT OF THIS ARTI-
 CLE, AND TO EXECUTE DIRECT OVERSIGHT OF THE PRESIDENT AND OTHER  MANAGE-
 MENT IN THE EFFECTIVE AND ETHICAL MANAGEMENT OF THE TRUST, AND ESTABLISH
 POLICIES  REGARDING  THE  PAYMENT OF SALARY, COMPENSATION AND REIMBURSE-
 MENTS TO, AND ESTABLISH RULES FOR THE TIME AND ATTENDANCE OF THE  PRESI-
 DENT AND MANAGEMENT;
   5.  TO  ENGAGE  OR  ASSIST  IN  THE DEVELOPMENT, DESIGN, CONSTRUCTION,
 RECONSTRUCTION, IMPROVEMENT, MODERNIZATION,  REHABILITATION,  REPAIRING,
 AND OPERATION OF HOUSING FACILITIES;
   6.  TO ACQUIRE OR TRANSFER REAL AND PERSONAL PROPERTY AND IMPROVEMENTS
 THEREON, OR ANY INTEREST THEREIN, BY ANY METHOD, NECESSARY OR CONVENIENT
 FOR THE EXERCISE OF ITS FUNCTIONS, POWERS AND DUTIES;
   7. TO ENCUMBER RESIDENTIAL PROPERTY AND BUILDINGS HELD  BY  THE  TRUST
 AND  LIMIT  USE  TO  RESIDENTS WHO ARE LOW-INCOME FAMILIES AS DEFINED IN
 SUBDIVISION ELEVEN OF SECTION SIX HUNDRED TWENTY-SEVEN OF  THIS  ARTICLE
 AND  OTHER  RESIDENTS AS DEFINED IN SUBDIVISION SEVENTEEN OF SECTION SIX
 HUNDRED TWENTY-SEVEN OF THIS ARTICLE;
   8. TO MAKE AND EXECUTE CONTRACTS AND ALL OTHER  INSTRUMENTS  NECESSARY
 OR  CONVENIENT  FOR  THE  EXERCISE  OF ITS FUNCTIONS, POWERS AND DUTIES,
 INCLUDING PROCUREMENT CONTRACTS CONSISTENT WITH APPLICABLE PROVISIONS OF
 THIS ARTICLE. NOTWITHSTANDING ANY PROVISION  OF  LAW  TO  THE  CONTRARY,
 INCLUDING  BUT  NOT  LIMITED TO ARTICLE EIGHT OF THIS CHAPTER, THE TRUST
 MAY ENTER INTO CONTRACTS, CONSISTENT WITH APPLICABLE PROVISIONS OF  THIS
 ARTICLE, WITH NYCHA OR ON BEHALF OF AND FOR THE BENEFIT OF NYCHA;
   9.  TO  ENTER INTO AGREEMENTS WITH THE NYCHA OR OTHER ENTITIES FOR THE
 PROVISION OF MANAGEMENT, MAINTENANCE AND OTHER SERVICES;
   10. NOTWITHSTANDING THE PROVISIONS OF SECTION TWENTY-FIVE HUNDRED FOUR
 OF THE INSURANCE LAW OR ANY OTHER PROVISION OF LAW TO THE  CONTRARY,  TO
 PROCURE  OR CAUSE TO BE PLACED OR PROCURED INSURANCE ON BEHALF OF ITSELF
 AND OTHERS AGAINST ANY LOSS IN CONNECTION WITH ITS  ACTIVITIES,  PROPER-
 TIES  AND  OTHER  ASSETS,  IN  SUCH AMOUNTS AND FROM SUCH INSURERS AS IT
 DEEMS DESIRABLE;
   11. TO ENTER INTO AGREEMENTS WITH PUBLIC AGENCIES AND PUBLIC  ENTITIES
 FOR THE RECEIPT OF SERVICES;
   12.  TO  BORROW  AND  LOAN FUNDS AND ISSUE BONDS, NOTES OR OTHER OBLI-
 GATIONS CONSISTENT WITH THIS ARTICLE;
   13. TO FORM OR PARTICIPATE AS MEMBERS OR PARTNERS OF PRIVATE ENTITIES,
 WHICH MAY INCLUDE BUT ARE NOT LIMITED TO,  NOT-FOR-PROFIT  CORPORATIONS,
 HOUSING  DEVELOPMENT  FUND CORPORATIONS, LIMITED LIABILITY CORPORATIONS,
 AND LIMITED PARTNERSHIPS, TO FURTHER THE PURPOSES AND POWERS  GIVEN  AND
 GRANTED BY THIS SECTION;
   14.  TO  EARN  FEES  AND OTHER PROCEEDS FROM THE ACTIVITIES AND POWERS
 GIVEN AND GRANTED BY THIS SECTION;
   15. TO APPLY  FOR  OR  ACCEPT  FROM  ANY  SOURCE  ANY  GIFTS,  GRANTS,
 DONATIONS, OR CONVEYANCES OF LAND, MONEY, OTHER REAL OR PERSONAL PROPER-
 TY,  OR OTHER ITEMS OF VALUE, OR LOANS OF FUNDS OR PROPERTY OR FINANCIAL
 OR OTHER AID OR CREDIT ASSISTANCE IN ANY FORM, INCLUDING  ANY  GUARANTY,
 LINE  OF  CREDIT, OR GRANT, FROM THE FEDERAL GOVERNMENT OR ANY AGENCY OR
 INSTRUMENTALITY THEREOF, FROM THE STATE OR ANY AGENCY OR INSTRUMENTALITY
 THEREOF, FROM THE CITY OR ANY AGENCY OR INSTRUMENTALITY THEREOF, OR FROM
 ANY OTHER SOURCE, FOR ANY OR ALL OF THE PURPOSES SPECIFIED IN THIS ARTI-
 A. 7805--B                          8
 
 CLE, AND IT MAY COMPLY, SUBJECT TO THE PROVISIONS OF THIS ARTICLE,  WITH
 THE TERMS AND CONDITIONS THEREOF;
   16.  PRIOR  TO THE APPROVAL OF ANY RULE OR REGULATION AFFECTING RIGHTS
 AND PROTECTIONS AFFORDED TO RESIDENTS OF HOUSING FACILITIES,  INCLUDING,
 BUT  NOT  LIMITED TO, RESIDENT PROTECTIONS AND OPPORTUNITIES PURSUANT TO
 SECTION SIX HUNDRED THIRTY-TWO OF THIS ARTICLE, LEASE REVISIONS,  SCHED-
 ULES  OF  SPECIAL CHARGES FOR SERVICES, REPAIRS AND UTILITIES, AND RULES
 AND REGULATIONS TO BE INCORPORATED INTO  THE  LEASE  BY  REFERENCE,  THE
 TRUST  SHALL POST A NOTICE CONTAINING THE PROPOSED RULE OR REGULATION ON
 THE WEBSITE OF THE TRUST AND IN A PROMINENT  LOCATION  IN  THE  AFFECTED
 HOUSING FACILITY. SUCH NOTICE SHALL INCLUDE (A) A STATEMENT OF THE BASIS
 AND  PURPOSE OF THE PROPOSED RULE, (B) THE TIME AND PLACE OF THE MEETING
 AT WHICH THE BOARD WILL PROVIDE RESIDENTS AN OPPORTUNITY TO PROVIDE ORAL
 COMMENT ON SUCH PROPOSED RULE, PROVIDED THAT A MEETING TO PROVIDE  RESI-
 DENTS  AN  OPPORTUNITY  TO PROVIDE ORAL COMMENT SHALL NOT BE REQUIRED IF
 SUCH RULE IS REQUIRED BY LAW  WITH  ONLY  MINOR,  IF  ANY,  EXERCISE  OF
 DISCRETION  BY  THE  TRUST, OR DOES NOT ADVERSELY AFFECT THE PROTECTIONS
 AFFORDED TO THE RESIDENTS OF THE HOUSING FACILITIES, AND (C) AN OPPORTU-
 NITY TO SUBMIT WRITTEN COMMENTS AND THE FINAL DATE FOR RECEIPT OF  WRIT-
 TEN  COMMENTS.  THE TRUST MAY ADOPT A RULE OR REGULATION AFTER RECEIVING
 WRITTEN COMMENTS ON THE PROPOSED RULE OR REGULATION FOR A PERIOD  OF  AT
 LEAST  THIRTY  DAYS.   THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED IN
 SUCH PERIOD PRIOR TO ADOPTING SUCH RULE OR REGULATION. IN THE EVENT  THE
 TRUST  DETERMINES  THAT  IMMEDIATE ADOPTION OF ANY RULE OR REGULATION IS
 NECESSARY FOR THE PRESERVATION OF HEALTH, SAFETY OR GENERAL WELFARE  AND
 THAT  COMPLIANCE  WITH  THE  FOREGOING  REQUIREMENTS OF THIS SUBDIVISION
 WOULD BE CONTRARY TO THE PUBLIC INTEREST,  SUCH  PROPOSED  ITEM  MAY  BE
 ADOPTED  ON  AN  EMERGENCY BASIS. THE TRUST SHALL PROVIDE WRITTEN JUSTI-
 FICATION FOR SUCH DETERMINATION AND  MAKE  SUCH  JUSTIFICATION  PUBLICLY
 AVAILABLE  INCLUDING  VIA ITS WEBSITE AND IN A PROMINENT LOCATION IN THE
 AFFECTED HOUSING FACILITY. ANY SUCH IMMEDIATE ADOPTION SHALL ONLY REMAIN
 IN EFFECT FOR SIXTY DAYS, AND DURING SUCH TIME THE  TRUST  SHALL  COMPLY
 WITH  THE  REQUIREMENTS OF THIS SUBDIVISION IN ORDER FOR THE ADOPTION OF
 THE RULE OR REGULATION TO BECOME PERMANENT; AND
   17. TO DO ANY AND ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT  AND
 EXERCISE THE POWERS GIVEN AND GRANTED BY THIS ARTICLE.
   §  630.  TRANSFER  OF PROPERTY. 1. NYCHA, ACTING BY NYCHA BOARD RESOL-
 UTION AND IN ACCORDANCE WITH A DISPOSITION OR SIMILAR PLAN  APPROVED  BY
 THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT IN ACCORD-
 ANCE  WITH  APPLICABLE  FEDERAL  LAW,  WHICH  SHALL  INCLUDE A LETTER OF
 APPROVAL FROM THE MAYOR OR A DESIGNEE OF THE MAYOR, MAY TRANSFER TO  THE
 TRUST,  WITH  OR  WITHOUT CONSIDERATION AND WITHOUT ANY FURTHER AUTHORI-
 ZATION, A LEASEHOLD INTEREST IN ITS HOUSING FACILITIES AND ANY ANCILLARY
 PERSONAL PROPERTY OF SUCH FACILITIES. THE AGGREGATE NUMBER  OF  RESIDEN-
 TIAL  UNITS  TRANSFERRED TO THE TRUST PURSUANT TO THIS SECTION SHALL NOT
 EXCEED TWENTY-FIVE THOUSAND. ON AN ANNUAL BASIS,  NYCHA  AND  THE  TRUST
 SHALL REVIEW SUCH LIMIT AND, IF THEY DETERMINE THAT SUCH LIMIT SHOULD BE
 INCREASED,  NYCHA AND THE TRUST SHALL MAKE RECOMMENDATIONS TO THE LEGIS-
 LATURE REGARDING ANY SUCH INCREASE.
   2. WITHIN SIXTY DAYS OF THE EFFECTIVE  DATE  OF  THIS  ARTICLE,  NYCHA
 SHALL  ISSUE  A SET OF PROPOSED REQUIREMENTS RELATED TO THE VOTING PROC-
 ESS. THERE SHALL BE A COMMENT PERIOD FOR THE  VOTING  PROCESS,  AND  THE
 COMMENT  PERIOD  SHALL  INCLUDE AT LEAST ONE MEETING OPEN TO THE PUBLIC.
 NYCHA SHALL CONSIDER THE COMMENTS BEFORE ISSUANCE OF THE FINAL  REQUIRE-
 MENTS  FOR  THE  VOTING PROCESS. THE COMMENTS, AND THE RESPONSES TO SUCH
 COMMENTS, SHALL BE PUBLISHED PUBLICLY, INCLUDING, BUT NOT LIMITED TO, ON
 A. 7805--B                          9
 
 NYCHA'S WEBSITE.  WITHIN ONE HUNDRED TWENTY DAYS OF THE  EFFECTIVE  DATE
 OF  THIS ARTICLE, THE FINAL REQUIREMENTS FOR THE VOTING PROCESS SHALL BE
 POSTED. SUCH VOTING PROCESS  REQUIREMENTS  SHALL  INCLUDE:  THE  MINIMUM
 REQUIREMENTS  FOR  VOTER  OUTREACH  THAT  SHALL OCCUR PRIOR TO ANY VOTE,
 WHICH SHALL, AT A MINIMUM, CONFORM TO  THE  REQUIREMENTS  SET  FORTH  IN
 SUBDIVISION   FIVE  OF  THIS  SECTION,  VOTING  ELIGIBILITY,  THE  FORM,
 SUBSTANCE, AND TIMING OF THE VOTING PROCESS, AND THE CRITERIA  BY  WHICH
 AN  OPTION  SHALL BE DEEMED TO BE ACCEPTED OR REJECTED BY RESIDENTS OF A
 PARTICULAR HOUSING FACILITY FOR A MODERNIZATION STRATEGY THAT  ADDRESSES
 THE  CAPITAL  NEEDS  OF  SUCH HOUSING FACILITY. THE VOTING PROCESS SHALL
 ALSO INCLUDE, BUT SHALL NOT BE LIMITED TO, THE ABILITY OF RESIDENTS AT A
 PARTICULAR HOUSING FACILITY TO REJECT  THE  OPTIONS  PROPOSED  FOR  SUCH
 HOUSING FACILITY SUBMITTED AS PART OF THE VOTING PROCESS. IF ALL OPTIONS
 ARE  REJECTED  AT  A  PARTICULAR  HOUSING FACILITY, NONE OF THE PROPOSED
 OPTIONS SHALL BE IMPLEMENTED AT SUCH HOUSING FACILITY UNTIL ANOTHER VOTE
 IS UNDERTAKEN AT SUCH HOUSING FACILITY. THE TRUST  SHALL  NOT  TRANSFER,
 CONVEY,  ASSIGN, MORTGAGE, PLEDGE OR OTHERWISE ENCUMBER ANY INTEREST IN,
 OR PERMIT OR SUFFER  ANY  TRANSFER,  CONVEYANCE,  ASSIGNMENT,  MORTGAGE,
 PLEDGE OR OTHER ENCUMBRANCE OF ANY INTEREST IN SUCH HOUSING FACILITY, OR
 ANY PART THEREOF, PRIOR TO THE POSTING OF THE FINAL REQUIREMENTS FOR THE
 VOTING PROCESS, PRIOR TO THE VOTE AT SUCH HOUSING FACILITY, AND PRIOR TO
 THE SATISFACTION OF APPLICABLE FEDERAL LAW AND REGULATIONS.
   3.  THE  TRUST SHALL NOT TRANSFER, CONVEY, ASSIGN, MORTGAGE, PLEDGE OR
 OTHERWISE ENCUMBER ANY INTEREST IN, OR PERMIT OR  SUFFER  ANY  TRANSFER,
 CONVEYANCE,  ASSIGNMENT,  MORTGAGE,  PLEDGE  OR OTHER ENCUMBRANCE OF ANY
 INTEREST IN ANY HOUSING FACILITIES, OR ANY PART  THEREOF  WITHOUT  PRIOR
 WRITTEN  CONSENT  OF NYCHA.  SUCH WRITTEN CONSENT SHALL INCLUDE, BUT NOT
 BE LIMITED TO, ALL PROTECTIONS DESCRIBED IN SECTION SIX HUNDRED  THIRTY-
 TWO  OF  THIS ARTICLE AND IN SUBDIVISION FOURTEEN OF SECTION SIX HUNDRED
 THIRTY-EIGHT OF THIS ARTICLE.
   4. THE TRUST SHALL ENSURE THAT ANY HOUSING FACILITIES  TRANSFERRED  TO
 THE  TRUST  PURSUANT TO THIS SECTION AND ANY PORTIONS THEREOF ARE LEASED
 IN ACCORDANCE WITH UNITED STATES DEPARTMENT OF HOUSING AND URBAN  DEVEL-
 OPMENT  ELIGIBILITY  AND  INCOME-TARGETING  REQUIREMENTS,  TO THE EXTENT
 APPLICABLE TO THE UNITS THEREIN. RENTS FOR SUCH UNITS SHALL  NOT  EXCEED
 APPLICABLE PROGRAM REQUIREMENTS FOR THE PROVISION OF HOUSING FOR LOW-IN-
 COME  FAMILIES  AS  ESTABLISHED PURSUANT TO FEDERAL LAW AND REGULATIONS.
 WHERE  NYCHA  RULES,  REGULATIONS  OR  AGREEMENTS  EXCEED  THE  RESIDENT
 PROTECTION  STANDARDS  SET FORTH IN STATE OR FEDERAL LAW OR REGULATIONS,
 ANY HOUSING FACILITIES TRANSFERRED TO THE TRUST PURSUANT TO THIS SECTION
 AND ANY PORTIONS THEREOF SHALL BE LEASED IN ACCORDANCE WITH THE REQUIRE-
 MENTS SET FORTH IN THE  NYCHA  RULES,  REGULATIONS,  OR  AGREEMENTS,  AS
 APPLICABLE.
   5.  AS  PART  OF  THE  VOTING PROCESS AND PRIOR TO THE TRANSFER OF ANY
 HOUSING FACILITY, OR ANY PART THEREOF, TO THE TRUST, NYCHA SHALL  ENGAGE
 IN  A  COURSE  OF  RESIDENT  ENGAGEMENT.  SUCH RESIDENT ENGAGEMENT SHALL
 INCLUDE:  (A) NOTICE OF PROPOSED OPTIONS ON THE WEBSITE OF NYCHA AND  IN
 A PROMINENT LOCATION OF THE AFFECTED HOUSING FACILITY IN COMPLIANCE WITH
 LANGUAGE ACCESS REQUIREMENTS IN FEDERAL AND STATE LAW, AS APPLICABLE;
   (B) A SUMMARY DESCRIPTION OF THE PROPOSED OPTIONS;
   (C)  THE  TIME AND PLACE OF AT LEAST ONE PUBLIC MEETING AT WHICH NYCHA
 SHALL PROVIDE RESIDENTS OF SUCH FACILITY INFORMATION ABOUT THE  PROPOSED
 OPTIONS  AND  AN  OPPORTUNITY  TO  PROVIDE  ORAL COMMENT ON THE PROPOSED
 TRANSFER;
   (D) NOTIFICATION BY MAIL TO ALL RESIDENTS OF  SUCH  HOUSING  FACILITY,
 WHICH SHALL INCLUDE INFORMATION DETAILING THE PROPOSED OPTIONS; AND
 A. 7805--B                         10
 
   (E)  AN  OPPORTUNITY  FOR RESIDENTS TO SUBMIT WRITTEN COMMENTS AND THE
 FINAL DATE FOR SUBMISSION OF SUCH COMMENTS.  NYCHA  SHALL  CONSIDER  AND
 RESPOND  TO  ALL  COMMENTS RECEIVED IN SUCH PERIOD PRIOR TO COMPLETING A
 TRANSFER PURSUANT TO THIS SUBDIVISION.
   §  631.  EXEMPTION  FROM LAND USE REVIEW PROCEDURES AND OTHER REQUIRE-
 MENTS. 1. EXCEPT FOR THE PROVISIONS OF ARTICLE  EIGHT  OF  THE  ENVIRON-
 MENTAL  CONSERVATION  LAW  AND ARTICLE FOURTEEN OF THE PARKS, RECREATION
 AND HISTORIC PRESERVATION LAW, NEITHER (A) THE ESTABLISHMENT  OR  AMEND-
 MENT  OF  A  HOUSING  FACILITY'S DISPOSITION OR SIMILAR PLAN PURSUANT TO
 AGREEMENT WITH THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN  DEVEL-
 OPMENT  AND ACTIONS RELATING TO THE FINANCING THEREOF, (B) THE SELECTION
 OF SITES FOR PROJECTS, (C) ANY CONVEYANCE OR OTHER GRANT OF PROPERTY  OR
 OF  ANY INTEREST THEREIN BY NYCHA OR ANY OTHER PERSON, FIRM OR ORGANIZA-
 TION TO THE TRUST, (D) THE  DEVELOPMENT  OF  HOUSING  FACILITIES  BY  OR
 THROUGH  THE TRUST, INCLUDING ANY CONTRACTS, APPROVALS, CONSENTS, AGREE-
 MENTS, PERMITS OR AUTHORIZATIONS NECESSARY TO ACCOMPLISH THE  SAME,  AND
 (E)  THE  RECONVEYANCE  OR  TRANSFER  OF PROPERTY TO NYCHA BY THE TRUST,
 SHALL BE SUBJECT TO THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL LAW,
 CITY CHARTER, ADMINISTRATIVE CODE,  ORDINANCE  OR  RESOLUTION  GOVERNING
 UNIFORM  LAND  USE REVIEW PROCEDURES, ANY OTHER LAND USE PLANNING REVIEW
 AND APPROVALS, HISTORIC PRESERVATION PROCEDURES, ARCHITECTURAL  REVIEWS,
 FRANCHISE  APPROVALS AND OTHER STATE OR LOCAL REVIEW AND APPROVAL PROCE-
 DURES GOVERNING THE USE OF LAND AND THE IMPROVEMENTS THEREON WITHIN  THE
 CITY.  CAPITAL  PROJECTS  FOR  HOUSING FACILITIES TO BE UNDERTAKEN BY OR
 THROUGH THE TRUST SHALL NOT BE SUBJECT TO THE PROVISIONS OF THE NEW YORK
 CITY CHARTER RELATING TO SITE SELECTION, LAND USE REVIEW PROCEDURES, ART
 COMMISSION REVIEW PROCEDURES, GENERAL STANDARDS AND COST LIMITS, PROJECT
 SCOPE AND DESIGN PROCEDURES, OR  CONTRACT  REGISTRATION  AND  VOUCHERING
 PROCEDURES.
   2. THE TRUST SHALL BE SUBJECT TO ZONING REGULATIONS TO THE SAME EXTENT
 THAT NYCHA IS SUBJECT TO SUCH REGULATIONS.
   §  632.  RESIDENT  PROTECTIONS  AND  OPPORTUNITIES. 1. THE PROTECTIONS
 AFFORDED TO A RESIDENT OF A HOUSING FACILITY SHALL  BE  CONSISTENT  WITH
 THOSE  AFFORDED TO A PUBLIC HOUSING RESIDENT, TO THE EXTENT PERMITTED IN
 ACCORDANCE WITH FEDERAL LAW, AND SUBJECT TO AND WITH THE APPROVAL OF THE
 UNITED  STATES  DEPARTMENT  OF  HOUSING  AND  URBAN  DEVELOPMENT.  THESE
 PROTECTIONS SHALL INCLUDE, BUT ARE NOT LIMITED TO:
   (A)  PRESERVING  THE  AFFORDABLE CHARACTER OF SUCH HOUSING FACILITY IN
 ACCORDANCE WITH SECTION EIGHT OF THE UNITED STATES HOUSING ACT OF  NINE-
 TEEN  HUNDRED  THIRTY-SEVEN,  AS AMENDED, OR ANY SUCCESSOR PROVISION AND
 WITH PART FIVE OF TITLE TWENTY-FOUR OF THE CODE OF  FEDERAL  REGULATIONS
 OR ANY SUCCESSOR REGULATION;
   (B)  ENSURING  THAT  ANY RESIDENT REQUIRED TO RELOCATE TEMPORARILY FOR
 PURPOSES OF REHABILITATION OR REDEVELOPMENT OF SUCH HOUSING FACILITY  IS
 ABLE TO RETURN TO SUCH HOUSING FACILITY FOLLOWING THE COMPLETION OF SUCH
 REHABILITATION  OR  REDEVELOPMENT,  AND  THAT THE RELOCATION EXPENSES OF
 SUCH TEMPORARY RELOCATION BE PAID FOR BY THE TRUST OR NYCHA AS  REQUIRED
 BY APPLICABLE FEDERAL LAW;
   (C)  PROVIDING  A RESIDENT OF SUCH HOUSING FACILITY THE OPPORTUNITY TO
 ESTABLISH AND OPERATE A COUNCIL TO REPRESENT RESIDENTS IN  SUCH  HOUSING
 FACILITY  TO  ADDRESS  CONCERNS  RELATING  TO SUCH FACILITY, PURSUANT TO
 SUBPART B OF PART NINE HUNDRED SIXTY-FOUR OF TITLE  TWENTY-FOUR  OF  THE
 CODE  OF  FEDERAL  REGULATIONS  OR  ANY  SUCCESSOR REGULATION, AND TO BE
 ELIGIBLE FOR RESIDENT PARTICIPATION FUNDING FROM  THE  TRUST  CONSISTENT
 WITH  FUNDING  AVAILABLE  TO  RESIDENTS  OF  PUBLIC  HOUSING PURSUANT TO
 SECTION 964.150 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL  REGULATIONS
 A. 7805--B                         11
 
 OR ANY SUCCESSOR REGULATION, PROVIDED THAT ANY RESIDENT COUNCIL THAT, AT
 THE  TIME  OF THE TRANSFER OF A HOUSING FACILITY TO THE TRUST, IS CERTI-
 FIED BY NYCHA AS THE RESIDENT COUNCIL SHALL BE RECOGNIZED BY  THE  TRUST
 AS THE RESIDENT COUNCIL OF SUCH HOUSING FACILITY;
   (D)  PROVIDING  A RESIDENT OF A HOUSING FACILITY AN OPPORTUNITY FOR AN
 INFORMAL HEARING TO GRIEVE ANY DISPUTE THAT SUCH RESIDENT MAY HAVE  WITH
 RESPECT  TO AN ACTION OF THE TRUST WITH REGARD TO SUCH RESIDENT'S LEASE,
 CONSISTENT WITH THE OBLIGATION OF A PUBLIC HOUSING  AGENCY  PURSUANT  TO
 PARAGRAPH EIGHT OF SUBDIVISION (E) OF SECTION 966.4 OF TITLE TWENTY-FOUR
 OF  THE  CODE  OF  FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATIONS  AND
 PURSUANT TO SUBPART B OF PART NINE HUNDRED SIXTY-SIX  OF  TITLE  TWENTY-
 FOUR OF THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATIONS;
   (E)  PROVIDING  A  RESIDENT OF A HOUSING FACILITY AUTOMATIC RENEWAL OF
 SUCH RESIDENT'S LEASES, EXCEPT FOR GOOD CAUSE AS SPECIFIED IN THE  LEASE
 BETWEEN  SUCH  RESIDENT  AND THE TRUST, CONSISTENT WITH THE REQUIREMENTS
 RELATING TO A LEASE BETWEEN A PUBLIC HOUSING AGENCY AND A  TENANT  OF  A
 DWELLING  UNIT PURSUANT TO SUBPARAGRAPH (I) OF PARAGRAPH TWO OF SUBDIVI-
 SION (A) AND SUBDIVISION (L) OF SECTION 966.4 OF  TITLE  TWENTY-FOUR  OF
 THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATION;
   (F) DETERMINING SUCCESSION TO A LEASE BETWEEN A RESIDENT AND THE TRUST
 IN  ACCORDANCE  WITH  THE  SUCCESSION POLICY DESCRIBED IN THE MANAGEMENT
 MANUAL, AND ANY AMENDMENTS TO SUCH MANUAL, OF NYCHA;
   (G) PERMITTING A RESIDENT WHOSE TOTAL TENANT PAYMENT,  AS  DEFINED  IN
 SECTION  983.3  OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS,
 OR ANY SUCCESSOR REGULATIONS, WOULD EQUAL OR EXCEED THE RENT  TO  OWNER,
 AS  DEFINED IN SECTION 983.3 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS OR ANY SUCCESSOR REGULATIONS, TO REMAIN IN A HOUSING FACILI-
 TY AND PAY RENT IN AN AMOUNT TO BE DETERMINED BY THE TRUST AND NYCHA AND
 AS SET FORTH IN THE LEASE OF SUCH RESIDENT; AND
   (H) DETERMINING SUCCESSION TO A VOUCHER PURSUANT TO SECTION  EIGHT  OF
 THE  UNITED  STATES  HOUSING  ACT  OF  NINETEEN HUNDRED THIRTY-SEVEN, AS
 AMENDED, OR ANY SUCCESSOR PROVISION,  IN  ACCORDANCE  WITH  THE  HOUSING
 VOUCHER PROGRAM ADMINISTRATIVE PLAN, AND ANY AMENDMENTS TO SUCH PLAN, OF
 NYCHA.
   2.  THE  RESIDENT  PROTECTIONS  DESCRIBED  IN  SUBDIVISION ONE OF THIS
 SECTION SHALL BE ENUMERATED IN THE GROUND  LEASE  OR  OTHER  APPROPRIATE
 AGREEMENT BETWEEN NYCHA AND THE TRUST AND SHALL BE FURTHER ENUMERATED IN
 WRITING  BETWEEN  THE  TRUST  AND  EACH  RESIDENT OF A HOUSING FACILITY.
 NOTHING IN THIS SECTION SHALL PRECLUDE THE TRUST OR NYCHA FROM PROVIDING
 ADDITIONAL RESIDENT PROTECTIONS, WHICH MAY BE  ENUMERATED  IN  ANY  SUCH
 GROUND LEASE OR AGREEMENT.
   3.  THE  TRUST,  TO  THE GREATEST EXTENT FEASIBLE, AND CONSISTENT WITH
 FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, SHALL ENSURE THAT EMPLOY-
 MENT AND OTHER ECONOMIC OPPORTUNITIES BE DIRECTED TO  RESIDENTS  OF  THE
 HOUSING  FACILITIES,  CONSISTENT  WITH  SECTION THREE OF THE HOUSING AND
 URBAN DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS  AMENDED,  AND
 PART  SEVENTY-FIVE  OF  TITLE  TWENTY-FOUR  OF THE CODE OF FEDERAL REGU-
 LATIONS OR ANY SUCCESSOR LAW OR REGULATION. ALL PROJECT LABOR AGREEMENTS
 SHALL BE CONSISTENT WITH THIS SUBDIVISION.
   4. THE TRUST SHALL ACT IN ACCORDANCE WITH  THE  FULL  REQUIREMENTS  OF
 PART NINE HUNDRED SIXTY-FOUR OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS  OR  ANY  SUCCESSOR REGULATION. THE TRUST SHALL, AMONG OTHER
 REQUIREMENTS, SUPPORT RESIDENT PARTICIPATION IN THE  OPERATIONS  OF  THE
 HOUSING  FACILITIES  AND  NEGOTIATE, WITH ANY RESIDENT MANAGEMENT CORPO-
 RATIONS, OR EQUIVALENT THAT SATISFIES THE REQUIREMENTS OF SUCH PART, FOR
 OPERATION OF A HOUSING FACILITY. THE TRUST SHALL  CONSIDER  APPLICATIONS
 A. 7805--B                         12
 
 OF RESIDENT ORGANIZATIONS, COMMUNITY ORGANIZATIONS OR OTHER LOCAL ORGAN-
 IZATIONS FOR GRANT FUNDING, AS AVAILABLE, TO PROVIDE TRAINING, TECHNICAL
 ASSISTANCE,  AND  EDUCATION  TO  RESIDENTS  TO  SUPPORT  ACTIVE RESIDENT
 PARTICIPATION IN THE PLANNING AND IMPLEMENTATION OF THE CONVERSION PROC-
 ESS.
   5.  THE  TRUST  SHALL  ENSURE  RESIDENTS PARTICIPATE IN THE PROCESS TO
 PROCURE THE VENDORS THAT WILL PERFORM CAPITAL RENOVATION, MODERNIZATION,
 AND CONSTRUCTION WORK, EXCLUDING EMERGENCY PROCUREMENTS.
   6. THE TRUST SHALL CREATE COMMITTEES CONSISTING OF MEMBERS  AS  APPRO-
 PRIATE,  WHICH SHALL INCLUDE, BUT NOT BE LIMITED TO, TRUST EMPLOYEES AND
 RESIDENTS OF THE HOUSING FACILITY  WHERE  CONSTRUCTION,  RECONSTRUCTION,
 REHABILITATION,  ALTERATION,  RENOVATION, MAINTENANCE AND REPAIR WORK IS
 BEING PERFORMED, AND SUCH COMMITTEES SHALL MEET  AS  NEEDED  TO  PROVIDE
 INPUT,  AND  OVERSIGHT,  ALONG WITH RECOMMENDATIONS, WITH RESPECT TO THE
 QUALITY OF SUCH WORK PERFORMED BY THE VENDORS OF THE TRUST.
   7. THE TRUST SHALL, IN ACCORDANCE WITH  APPLICABLE  LAW,  ESTABLISH  A
 PROCEDURE  AND  ELIGIBILITY  REQUIREMENTS BY WHICH A PERSON WHO IS NOT A
 TENANT OF RECORD MAY BECOME A TENANT OF RECORD BASED ON CONSIDERATION OF
 THE NEXUS OF SUCH PERSON TO A TENANT OF RECORD.
   § 633. COMPLIANCE WITH CODES.   1. THE TRUST  SHALL,  IN  THE  DESIGN,
 DEVELOPMENT,  CONSTRUCTION,  RECONSTRUCTION, IMPROVEMENT, MODERNIZATION,
 REHABILITATION, REPAIR, AND OPERATION  OF  OR  OTHERWISE  PROVIDING  FOR
 HOUSING  FACILITIES,  COMPLY  AND  CAUSE ALL CONTRACTORS OF THE TRUST TO
 COMPLY WITH APPLICABLE SANITARY AND BUILDING LAWS AND REGULATIONS.
   2. THE TRUST SHALL ADOPT RULES OR REGULATIONS ESTABLISHING SUSTAINABLE
 DESIGN GUIDELINES FOR  THE  DEVELOPMENT,  CONSTRUCTION,  RECONSTRUCTION,
 IMPROVEMENT, MODERNIZATION, REHABILITATION, REPAIR, AND OPERATION OF, OR
 OTHERWISE  PROVIDING FOR, HOUSING FACILITIES, WHICH SHALL INCLUDE CRITE-
 RIA FOR BENEFICIAL ELECTRIFICATION AND RENEWABLE  ENERGY  PRODUCTION  IN
 FURTHERANCE  OF  THE GOALS OF DECARBONIZED BUILDINGS, USE OF SUSTAINABLE
 MATERIALS, AND ENERGY AND WATER EFFICIENCY.
   § 634. CONTRACTS OF THE TRUST. 1. NOTWITHSTANDING ANY PROVISION OF LAW
 TO THE CONTRARY, INCLUDING BUT NOT LIMITED  TO  ARTICLE  EIGHT  OF  THIS
 CHAPTER,  THE  TRUST  SHALL  ESTABLISH AND MAINTAIN PROCUREMENT POLICIES
 THAT SHALL SET FORTH THE METHODS AND PROCEDURES BY WHICH THE TRUST SHALL
 PROCURE CONTRACTS FOR GOODS AND SERVICES, INCLUDING BUT NOT  LIMITED  TO
 SERVICES FOR DESIGN, DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION, IMPROVE-
 MENT,  MODERNIZATION,  REHABILITATION,  REPAIR AND OPERATION, RELATED TO
 PROPERTY OWNED OR LEASED BY THE TRUST, IN A MANNER CONSISTENT  WITH  THE
 PROVISIONS OF THIS ARTICLE.  SUCH POLICIES SHALL SPECIFICALLY INCLUDE:
   (A) A COMPETITIVE SEALED BIDDING PROCESS FOR THE AWARD OF CONTRACTS IN
 WHICH  SEALED  BIDS  ARE  PUBLICLY SOLICITED OR SOLICITED FROM A LIST OF
 PREQUALIFIED BIDDERS AND OPENED AND A CONTRACT IS AWARDED TO THE  LOWEST
 RESPONSIVE, RESPONSIBLE BIDDER;
   (B)  PROCESSES  FOR  AWARDING  CONTRACTS  FOR GOODS AND SERVICES USING
 ALTERNATIVES TO COMPETITIVE  SEALED  BIDDING  WHERE  COMPETITIVE  SEALED
 BIDDING  IS NOT PRACTICABLE OR NOT ADVANTAGEOUS, IN WHICH CASE THE TRUST
 SHALL USE THE MOST COMPETITIVE METHOD OF PROCUREMENT THAT IS APPROPRIATE
 UNDER THE CIRCUMSTANCES TO SELECT THE PROPOSER OFFERING THE  BEST  VALUE
 TO THE TRUST;
   (C)  A PROCESS FOR PREQUALIFYING BIDDERS AND PROPOSERS BASED ON CRITE-
 RIA, WHICH MAY INCLUDE AN ENTITY'S EXPERIENCE, PAST PERFORMANCE, ABILITY
 TO UNDERTAKE WORK, FINANCIAL CAPABILITY, RESPONSIBILITY, RELIABILITY AND
 STATUS AS A CERTIFIED MINORITY OR WOMEN OWNED BUSINESS ENTERPRISE PURSU-
 ANT TO ARTICLE FIFTEEN-A  OF  THE  EXECUTIVE  LAW  OR  SECTION  THIRTEEN
 HUNDRED FOUR OF THE NEW YORK CITY CHARTER;
 A. 7805--B                         13
 
   (D)  REASONABLE  PROCEDURES  TO SECURE THE MEANINGFUL PARTICIPATION OF
 MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES IN THE TRUST'S PROCUREMENT
 PROCESS.  THE TRUST MAY USE THE SAME MEASURES TO  ENHANCE  MINORITY  AND
 WOMEN  OWNED  BUSINESS  ENTERPRISE PARTICIPATION AS ARE AVAILABLE TO THE
 CITY PURSUANT TO APPLICABLE LAW, INCLUDING SECTION 6-129 OF THE ADMINIS-
 TRATIVE CODE OF THE CITY OF NEW YORK;
   (E)  PROCESSES FOR AWARDING ALTERNATIVE PROJECT DELIVERY CONTRACTS, IN
 A MANNER CONSISTENT WITH THE TERMS OF SECTION SIX HUNDRED THIRTY-FIVE OF
 THIS ARTICLE;
   (F) PROCEDURES FOR THE  FAIR  AND  EQUITABLE  RESOLUTION  OF  CONTRACT
 DISPUTES,  FOR  APPEALS  OF  RESPONSIVENESS  AND RESPONSIBILITY DETERMI-
 NATIONS BY THE TRUST,  AND  FOR  APPEALS  OF  PREQUALIFICATION  DETERMI-
 NATIONS;
   (G)  A  PROCESS  FOR MAKING PURCHASES OFF CONTRACTS PROCURED BY PUBLIC
 AGENCIES AND PUBLIC ENTITIES; AND
   (H) A MECHANISM FOR PROCUREMENTS WITHOUT A FORMAL COMPETITIVE  PROCESS
 WHERE:
   (1)  THE EXISTENCE OF AN EMERGENCY INVOLVING DANGER TO LIFE, SAFETY OR
 PROPERTY REQUIRES IMMEDIATE ACTION AND CANNOT AWAIT A COMPETITIVE  PROC-
 ESS  FOR  GOODS  OR SERVICES TO BE PURCHASED, INCLUDING, BUT NOT LIMITED
 TO, SERVICES FOR CONSTRUCTION,  RECONSTRUCTION,  REHABILITATION,  ALTER-
 ATION,  RENOVATION, MAINTENANCE OR REPAIRS, WHICH ARE ESSENTIAL TO EFFI-
 CIENT OPERATION OR THE ADEQUATE PROVISION OF SERVICE BY THE TRUST AND AS
 A CONSEQUENCE OF UNFORESEEN CIRCUMSTANCE SUCH PURCHASE  CANNOT  AWAIT  A
 COMPETITIVE PROCESS;
   (2) A PROCUREMENT'S VALUE DOES NOT EXCEED FIFTY THOUSAND DOLLARS;
   (3)  THE TRUST RECEIVES NO RESPONSIVE BIDS OR ONLY A SINGLE RESPONSIVE
 BID IN RESPONSE TO A SOLICITATION FOR COMPETITIVE BIDS OR PROPOSALS;
   (4) A PROCUREMENT'S  VALUE  DOES  NOT  EXCEED  FIVE  HUNDRED  THOUSAND
 DOLLARS  AND  IS  MADE  FROM A BUSINESS CERTIFIED AS A MINORITY OR WOMEN
 OWNED BUSINESS ENTERPRISE PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE
 LAW AND SECTION THIRTEEN HUNDRED FOUR OF  THE  NEW  YORK  CITY  CHARTER.
 NOTHING  IN THIS PARAGRAPH SHALL BE CONSTRUED TO REQUIRE THAT SUCH BUSI-
 NESS BE CONCURRENTLY CERTIFIED  AS  MINORITY  OR  WOMEN  OWNED  BUSINESS
 ENTERPRISES  UNDER  ARTICLE  FIFTEEN-A  OF THE EXECUTIVE LAW AND SECTION
 THIRTEEN HUNDRED FOUR OF THE NEW YORK CITY CHARTER TO BE AWARDED SUCH  A
 CONTRACT;
   (5) A DULY APPOINTED REPRESENTATIVE OF THE TRUST DETERMINES IN WRITING
 THAT, BASED ON A MARKET ANALYSIS, ONLY ONE SOURCE FOR THE REQUIRED GOODS
 OR  SERVICES,  INCLUDING  BUT NOT LIMITED TO, SERVICES FOR CONSTRUCTION,
 RECONSTRUCTION, REHABILITATION, ALTERATION, RENOVATION, MAINTENANCE  AND
 REPAIRS, ARE AVAILABLE; OR
   (6)  THE  CONTRACT IS A CONTRACT BETWEEN THE TRUST AND ANOTHER GOVERN-
 MENTAL ENTITY, INCLUDING, BUT NOT LIMITED TO NYCHA.
   2. CONSTRUCTION PERFORMED UNDER A CONTRACT ENTERED INTO BY  THE  TRUST
 PURSUANT  TO  THIS ARTICLE SHALL BE DEEMED A PUBLIC WORK TO BE PERFORMED
 IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE EIGHT OF THE LABOR LAW  AND
 ENFORCEMENT  OF  PREVAILING WAGE REQUIREMENTS PURSUANT TO APPLICABLE LAW
 OR, FOR PROJECTS OR  PUBLIC  WORKS  RECEIVING  FEDERAL  AID,  APPLICABLE
 FEDERAL  REQUIREMENTS  FOR  PREVAILING WAGE. ANY CONTRACT, THE PRINCIPAL
 PURPOSE OF WHICH IS TO PROVIDE CONSTRUCTION SERVICES AND THAT IS  EITHER
 ENTERED INTO THROUGH A COMPETITIVE SEALED BIDDING PROCESS OR PURSUANT TO
 SECTION  SIX  HUNDRED  THIRTY-FIVE  OF THIS ARTICLE, SHALL BE UNDERTAKEN
 PURSUANT TO A PROJECT LABOR AGREEMENT AND INCLUDE A CLAUSE REQUIRING THE
 SELECTED ALTERNATIVE  PROJECT  DELIVERY  CONTRACTOR  OR  THE  CONTRACTOR
 SELECTED  ON  THE  BASIS  OF  ITS  SEALED  BID TO OBLIGATE EVERY TIER OF
 A. 7805--B                         14
 
 CONTRACTOR WORKING ON THE PUBLIC WORK TO COMPLY WITH THE  PROJECT  LABOR
 AGREEMENT  REQUIRED  BY  SECTION SIX HUNDRED THIRTY-FIVE OF THIS ARTICLE
 AND THIS SECTION, AND SHALL INCLUDE PROJECT LABOR  AGREEMENT  COMPLIANCE
 MONITORING  AND  ENFORCEMENT PROVISIONS CONSISTENT WITH ANY SUCH PROJECT
 LABOR AGREEMENT.
   3. CONTRACTS OF THE TRUST SHALL BE SUBJECT TO SECTIONS 6-108 AND 6-123
 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, AND THE TRUST  SHALL
 CONSTITUTE  A  "CONTRACTING AGENCY" FOR THE PURPOSES OF SECTION 6-123 OF
 THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   4. THE PROVISIONS OF SECTION ONE HUNDRED SIX-B OF THE GENERAL  MUNICI-
 PAL LAW SHALL APPLY TO THE TRUST.
   5.  UNLESS A FEDERAL REQUIREMENT CONFLICTS WITH ANY PROCUREMENT PROCE-
 DURE SET FORTH IN THIS ARTICLE, THE TRUST SHALL BE  REQUIRED  TO  COMPLY
 WITH SUCH PROCEDURE.
   § 635. ALTERNATIVE PROJECT DELIVERY CONTRACTS. 1.  NOTWITHSTANDING ANY
 PROVISION  OF  LAW TO THE CONTRARY, INCLUDING BUT NOT LIMITED TO SECTION
 SEVENTY-TWO HUNDRED TEN OF THE EDUCATION LAW, AND IN CONFORMITY WITH THE
 REQUIREMENTS OF THIS ARTICLE, FOR ANY PUBLIC WORK UNDERTAKEN PURSUANT TO
 A PROJECT LABOR AGREEMENT THE TRUST MAY USE ALTERNATIVE PROJECT DELIVERY
 CONTRACTS.
   (A) A CONTRACTOR SELECTED BY THE TRUST TO ENTER  INTO  AN  ALTERNATIVE
 PROJECT  DELIVERY CONTRACT MAY BE SELECTED THROUGH A TWO-STEP METHOD, AS
 FOLLOWS:
   (1) STEP ONE. THE FIRST STEP SHALL BE THE  GENERATION  OF  A  LIST  OF
 RESPONDING  ENTITIES  THAT  HAVE  DEMONSTRATED THE GENERAL CAPABILITY TO
 PERFORM THE ALTERNATIVE PROJECT DELIVERY  CONTRACT.    SUCH  LIST  SHALL
 CONSIST  OF  A SPECIFIED NUMBER OF RESPONDING ENTITIES, AS DETERMINED BY
 THE TRUST, AND SHALL BE GENERATED  BASED  UPON  THE  TRUST'S  REVIEW  OF
 RESPONSES  TO  A  PUBLICLY  ADVERTISED  REQUEST  FOR QUALIFICATIONS. THE
 TRUST'S REQUEST FOR QUALIFICATIONS SHALL INCLUDE A  GENERAL  DESCRIPTION
 OF  THE  PUBLIC  WORK,  THE  MAXIMUM NUMBER OF RESPONDING ENTITIES TO BE
 INCLUDED ON SUCH LIST, THE SELECTION CRITERIA TO BE USED AND  THE  RELA-
 TIVE  WEIGHT  OF  EACH  CRITERIA IN GENERATING SUCH LIST. SUCH SELECTION
 CRITERIA SHALL INCLUDE THE QUALIFICATIONS AND EXPERIENCE OF  THE  ENTITY
 OR  TEAM OF ENTITIES, ORGANIZATION, DEMONSTRATED RESPONSIBILITY, ABILITY
 OF THE ENTITY OR TEAM OF ENTITIES OR OF A MEMBER OR MEMBERS OF THE ENTI-
 TY OR TEAM OF ENTITIES TO COMPLY WITH APPLICABLE REQUIREMENTS, INCLUDING
 THE PROVISIONS OF ARTICLES ONE HUNDRED FORTY-FIVE,  ONE  HUNDRED  FORTY-
 SEVEN  AND  ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW, PAST RECORD OF
 COMPLIANCE WITH THE LABOR LAW, AND SUCH OTHER QUALIFICATIONS  THE  TRUST
 DEEMS  APPROPRIATE,  WHICH  MAY  INCLUDE  BUT ARE NOT LIMITED TO PROJECT
 UNDERSTANDING, FINANCIAL CAPABILITY AND RECORD OF PAST PERFORMANCE.  THE
 TRUST SHALL EVALUATE AND RATE ALL RESPONDING ENTITIES TO THE REQUEST FOR
 QUALIFICATIONS.  BASED  UPON  SUCH  RATINGS,  THE  TRUST  SHALL LIST THE
 RESPONDING ENTITIES THAT  SHALL  RECEIVE  A  REQUEST  FOR  PROPOSALS  IN
 ACCORDANCE  WITH  SUBPARAGRAPH  TWO  OF  THIS  PARAGRAPH.  TO THE EXTENT
 CONSISTENT WITH APPLICABLE FEDERAL LAW, THE TRUST SHALL  CONSIDER,  WHEN
 AWARDING ANY CONTRACT PURSUANT TO THIS SECTION, THE PARTICIPATION OF (I)
 RESPONDING  ENTITIES THAT ARE CERTIFIED AS MINORITY OR WOMEN OWNED BUSI-
 NESS ENTERPRISES PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW,  OR
 CERTIFIED  PURSUANT  TO  LOCAL  LAW  AS MINORITY OR WOMEN OWNED BUSINESS
 ENTERPRISES, (II) SMALL BUSINESS CONCERNS IDENTIFIED PURSUANT TO  SUBDI-
 VISION  (B)  OF  SECTION  ONE HUNDRED THIRTY-NINE-G OF THE STATE FINANCE
 LAW, AND (III) BUSINESS CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR
 LOW AND VERY LOW-INCOME PERSONS. IN ADDITION, NOTHING  IN  THIS  SECTION
 A. 7805--B                         15
 
 SHALL  BE  DEEMED  TO SUPERSEDE ANY PREQUALIFICATION POLICIES ADOPTED BY
 THE TRUST PURSUANT TO SECTION SIX HUNDRED THIRTY-FOUR OF THIS ARTICLE.
   (2)  STEP  TWO. THE SECOND STEP SHALL BE THE SELECTION OF THE PROPOSAL
 WHICH IS THE BEST VALUE TO THE TRUST. THE TRUST SHALL  ISSUE  A  REQUEST
 FOR PROPOSALS TO THE RESPONDING ENTITIES LISTED PURSUANT TO SUBPARAGRAPH
 ONE OF THIS PARAGRAPH. IF SUCH A RESPONDING ENTITY CONSISTS OF A TEAM OF
 SEPARATE  ENTITIES,  THE ENTITIES THAT COMPRISE SUCH A TEAM SHALL REMAIN
 UNCHANGED FROM THE RESPONDING ENTITY AS LISTED PURSUANT TO  SUBPARAGRAPH
 ONE  OF  THIS  PARAGRAPH  UNLESS  OTHERWISE  APPROVED  BY THE TRUST. THE
 REQUEST FOR PROPOSALS SHALL SET FORTH THE PUBLIC WORK'S SCOPE  OF  WORK,
 AND  OTHER  REQUIREMENTS,  AS DETERMINED BY THE TRUST, WHICH MAY INCLUDE
 SEPARATE GOALS FOR WORK UNDER THE CONTRACT TO BE PERFORMED BY BUSINESSES
 CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT  TO
 ARTICLE  FIFTEEN-A  OF THE EXECUTIVE LAW, OR CERTIFIED PURSUANT TO LOCAL
 LAW AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES,  OR  GOALS  ESTAB-
 LISHED  PURSUANT  TO  SECTION THREE OF THE HOUSING AND URBAN DEVELOPMENT
 ACT OF NINETEEN  HUNDRED  SIXTY-EIGHT,  AS  AMENDED,  OR  ANY  SUCCESSOR
 PROVISION,  IF  APPLICABLE. THE REQUEST FOR PROPOSALS SHALL ALSO SPECIFY
 THE CRITERIA TO BE USED TO  EVALUATE  THE  RESPONSES  AND  THE  RELATIVE
 WEIGHT OF EACH OF SUCH CRITERIA. SUCH CRITERIA SHALL INCLUDE:  THE QUAL-
 ITY OF THE PROPOSAL'S SOLUTION; THE QUALIFICATIONS AND EXPERIENCE OF THE
 PROPOSER;  THE  PROPOSAL'S  COST,  WHICH MAY INCLUDE FACTORS THAT MAY BE
 CONSIDERED INDIVIDUALLY OR IN THE AGGREGATE, SUCH AS THE  PROPOSED  COST
 OF  DESIGN  PHASE WORK, THE PROPOSED COST OF CONSTRUCTION PHASE WORK, OR
 COST FACTORS RELATING TO CONSTRUCTION PHASE  WORK,  AS  APPLICABLE;  AND
 OTHER  FACTORS  DEEMED  PERTINENT  BY  THE TRUST, WHICH MAY INCLUDE, BUT
 SHALL NOT BE LIMITED TO, THE PROPOSAL'S MANNER AND SCHEDULE  OF  PROJECT
 IMPLEMENTATION,  THE PROPOSER'S ABILITY TO COMPLETE THE WORK IN A TIMELY
 AND SATISFACTORY MANNER, MAINTENANCE COSTS OF THE COMPLETED PUBLIC WORK,
 MAINTENANCE OF TRAFFIC APPROACH, AND COMMUNITY IMPACT.   THE  TRUST  MAY
 ENGAGE  IN  NEGOTIATIONS OR OTHER DISCUSSIONS WITH ALL QUALIFIED VENDORS
 THAT HAVE EXPRESSED INTEREST, PROVIDED THAT THE TRUST MAINTAINS A  WRIT-
 TEN  RECORD  OF THE CONDUCT OF NEGOTIATIONS OR DISCUSSIONS AND THE BASIS
 FOR EVERY DETERMINATION TO CONTINUE OR SUSPEND NEGOTIATIONS, AND FURTHER
 PROVIDED THAT IF THE TRUST DETERMINES FOR A PARTICULAR CONTRACT OR FOR A
 PARTICULAR TYPE OF CONTRACT THAT IT IS IN THE TRUST'S BEST  INTEREST  TO
 NEGOTIATE  OR  ENTER  INTO DISCUSSIONS WITH FEWER PROPOSERS, IT MAY MAKE
 SUCH A DETERMINATION IN WRITING. IF THE TRUST ENTERS INTO  SUCH  NEGOTI-
 ATIONS,  THE  TRUST  SHALL ALLOW ALL PROPOSERS TO REVISE THEIR PROPOSALS
 UPON CONCLUSION OF NEGOTIATIONS, AND THE TRUST SHALL EVALUATE THE PROPO-
 SERS' REVISED PROPOSALS USING THE CRITERIA INCLUDED IN THE  REQUEST  FOR
 PROPOSALS.    ANY  CONTRACT  AWARDED  PURSUANT  TO THIS SECTION SHALL BE
 AWARDED TO A RESPONSIVE AND RESPONSIBLE PROPOSER,  WHICH,  IN  CONSIDER-
 ATION OF THESE AND OTHER SPECIFIED CRITERIA DEEMED PERTINENT, OFFERS THE
 BEST  VALUE  AS DETERMINED BY THE TRUST. THE REQUEST FOR PROPOSALS SHALL
 INCLUDE A STATEMENT THAT PROPOSERS  SHALL  DESIGNATE  IN  WRITING  THOSE
 PORTIONS OF THE PROPOSAL THAT CONTAIN TRADE SECRETS OR OTHER PROPRIETARY
 INFORMATION THAT ARE TO REMAIN CONFIDENTIAL, SO THAT THE MATERIAL DESIG-
 NATED  AS  CONFIDENTIAL  SHALL  BE  READILY SEPARABLE FROM THE PROPOSAL.
 NOTHING IN THIS SUBDIVISION SHALL BE CONSTRUED  TO  PROHIBIT  THE  TRUST
 FROM NEGOTIATING FINAL CONTRACT TERMS AND CONDITIONS INCLUDING COST. ALL
 PROPOSALS  SUBMITTED SHALL BE SCORED ACCORDING TO THE CRITERIA LISTED IN
 THE REQUEST FOR PROPOSALS AND SUCH FINAL SCORES SHALL  BE  PUBLISHED  ON
 THE  TRUST'S  WEBSITE  AFTER  THE  DATE  UPON WHICH SUCH CONTRACT MAY BE
 IMPLEMENTED.
 A. 7805--B                         16
 
   (B) THE TRUST, IN AWARDING AN ALTERNATIVE PROJECT DELIVERY CONTRACT TO
 A CONTRACTOR OFFERING THE BEST VALUE MAY  USE  THE  FOLLOWING  TYPES  OF
 CONTRACTS:
   (1)  A  COST-PLUS  NOT  TO  EXCEED  GUARANTEED  MAXIMUM  PRICE FORM OF
 CONTRACT IN WHICH THE TRUST SHALL BE ENTITLED TO MONITOR AND  AUDIT  ALL
 COSTS.  IN ESTABLISHING THE SCHEDULE AND PROCESS FOR DETERMINING A GUAR-
 ANTEED MAXIMUM PRICE, THE CONTRACT BETWEEN THE TRUST AND THE  CONTRACTOR
 SHALL  INCLUDE  TERMS  SPECIFYING  THE PRICE FOR THE DESIGN PHASE OF THE
 WORK, THE SCOPE OF THE WORK, AND ANY APPLICABLE COST FACTORS RELATING TO
 CONSTRUCTION PHASE WORK THAT WERE INCLUDED IN THE CONTRACTOR'S PROPOSAL.
 A FAIR AND REASONABLE GUARANTEED  MAXIMUM  PRICE  FOR  THE  CONSTRUCTION
 PHASE  OF THE  WORK, OR PORTIONS OF THE CONSTRUCTION PHASE OF THE  WORK,
 MAY BE AGREED TO AS ONE OR MORE AMENDMENTS TO  SUCH  CONTRACT  BASED  ON
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT THAT OCCUR AFTER SUCH CONTRACT
 IS  EXECUTED.  EACH  GUARANTEED  MAXIMUM  PRICE  AMENDMENT  SHALL:   (I)
 DESCRIBE THE SCOPE OF THE PORTION OF THE CONSTRUCTION PHASE WORK SUBJECT
 TO THE AMENDMENT, THE COST OF PERFORMING  SUCH  WORK,  AND  THE  MAXIMUM
 COSTS OF ANY CONTINGENCIES RELATED TO SUCH WORK, (II) INCLUDE A DETAILED
 LINE ITEM COST BREAKDOWN, (III) INCLUDE A LIST OF ALL DRAWINGS, SPECIFI-
 CATIONS  AND  OTHER INFORMATION ON WHICH THE GUARANTEED MAXIMUM PRICE IS
 BASED, (IV) INCLUDE THE DATES OF SUBSTANTIAL  AND  FINAL  COMPLETION  ON
 WHICH  THE  GUARANTEED  MAXIMUM  PRICE  IS BASED, AS APPLICABLE, AND (V)
 INCLUDE A SCHEDULE OF UNIT PRICES.  THE TRUST SHALL MAINTAIN  A  WRITTEN
 RECORD OF EACH GUARANTEED MAXIMUM PRICE AMENDMENT, WHICH SHALL INCLUDE A
 SUMMARY  OF  THE  NEGOTIATION  PROCESS AND A DESCRIPTION OF THE RELEVANT
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT,  INDEPENDENT  COST  ESTIMATES
 PREPARED  BY OR ON BEHALF OF THE TRUST, AS REQUIRED PURSUANT TO A POLICY
 ESTABLISHED BY THE TRUST, THE CONTRACTOR'S  ACTUAL  COST  SCHEDULES  AND
 UNIT  PRICES,  AND  ANY  OTHER FACTORS THAT THE TRUST CONSIDERED. IF THE
 TRUST AND THE CONTRACTOR CANNOT AGREE UPON A  GUARANTEED  MAXIMUM  PRICE
 FOR  ONE  OR  MORE  PORTIONS  OF  CONSTRUCTION PHASE WORK, THE TRUST MAY
 DIRECT THE CONTRACTOR TO ASSIGN ALL OR  A  PORTION  OF  THE  DUTIES  AND
 RIGHTS  UNDER  SUCH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT TO ANOTHER
 RESPONSIVE AND RESPONSIBLE PROPOSER  PURSUANT  TO  SUBPARAGRAPH  TWO  OF
 PARAGRAPH  (A)  OF  THIS  SUBDIVISION THAT OFFERED THE BEST VALUE OF THE
 REMAINING PROPOSERS AND THAT WILL AGREE TO ACCEPT SUCH ASSIGNMENT.  THIS
 SUBPARAGRAPH  SHALL  NOT  BE  DEEMED TO PROHIBIT THE USE OF ANY CONTRACT
 TERMS OR PROCEDURES PURSUANT TO ANY OTHER PROVISION  OF  LAW,  INCLUDING
 BUT NOT LIMITED TO PROVISIONS INCLUDED IN THIS ARTICLE;
   (2) A LUMP SUM CONTRACT IN WHICH THE CONTRACTOR AGREES TO ACCEPT A SET
 DOLLAR  AMOUNT  FOR  A  CONTRACT  WHICH  COMPRISES  A SINGLE BID WITHOUT
 PROVIDING A COST BREAKDOWN FOR ALL COSTS SUCH AS FOR  EQUIPMENT,  LABOR,
 MATERIALS,  AS WELL AS SUCH CONTRACTOR'S PROFIT FOR COMPLETING ALL ITEMS
 OF WORK COMPRISING THE PUBLIC WORK;
   (3) INCENTIVE PAYMENTS IDENTIFIED IN THE  TEXT  OF  THE  CONTRACT  FOR
 PERFORMANCE OBJECTIVES; OR
   (4) A COMBINATION OF ELEMENTS OF THE CONTRACT TYPES LISTED HEREIN.
   2. ALL ALTERNATIVE PROJECT DELIVERY CONTRACTS ENTERED INTO PURSUANT TO
 THIS  SECTION  SHALL  INCLUDE  A  CLAUSE REQUIRING THAT ANY PROFESSIONAL
 SERVICES REGULATED BY  ARTICLES  ONE  HUNDRED  FORTY-FIVE,  ONE  HUNDRED
 FORTY-SEVEN  AND  ONE  HUNDRED FORTY-EIGHT OF THE EDUCATION LAW SHALL BE
 PERFORMED AND STAMPED AND SEALED, WHERE APPROPRIATE, BY  A  PROFESSIONAL
 LICENSED IN ACCORDANCE WITH THE APPROPRIATE ARTICLE.
   3.  THE  SUBMISSION  OF A PROPOSAL OR RESPONSES OR THE EXECUTION OF AN
 ALTERNATIVE PROJECT DELIVERY CONTRACT PURSUANT TO THIS ARTICLE SHALL NOT
 A. 7805--B                         17
 
 BE CONSTRUED TO BE A VIOLATION OF  SECTION  SIX  THOUSAND  FIVE  HUNDRED
 TWELVE OF THE EDUCATION LAW.
   4.  EACH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT ENTERED INTO BY THE
 TRUST PURSUANT TO THIS ARTICLE SHALL  COMPLY  WITH  THE  OBJECTIVES  AND
 GOALS RELATING TO THE PERFORMANCE OF DESIGN AND CONSTRUCTION SERVICES BY
 MINORITY  AND WOMEN OWNED BUSINESS ENTERPRISES PURSUANT TO SECTION 6-129
 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, OR, FOR PROJECTS  OR
 PUBLIC  WORKS RECEIVING FEDERAL AID, APPLICABLE FEDERAL REQUIREMENTS FOR
 DISADVANTAGED BUSINESS ENTERPRISES OR MINORITY AND WOMEN OWNED  BUSINESS
 ENTERPRISES  AND  SECTION THREE OF THE HOUSING AND URBAN DEVELOPMENT ACT
 OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED, OR ANY SUCCESSOR PROVISION,
 IF APPLICABLE.
   5. (A) NOTWITHSTANDING ANY PROVISION  OF  LAW  TO  THE  CONTRARY,  ALL
 RIGHTS  OR  BENEFITS,  INCLUDING TERMS AND CONDITIONS OF EMPLOYMENT, AND
 PROTECTION OF CIVIL SERVICE AND  COLLECTIVE  BARGAINING  STATUS  OF  ALL
 EMPLOYEES OF NYCHA AND THE TRUST SOLELY IN CONNECTION WITH THE USE OF AN
 ALTERNATIVE  PROJECT DELIVERY CONTRACT PURSUANT TO THIS SECTION SHALL BE
 PRESERVED AND PROTECTED.
   (B) THE USE OF ALTERNATIVE PROJECT DELIVERY CONTRACTS PURSUANT TO THIS
 SECTION SHALL NOT RESULT  IN  THE  (1)  DISPLACEMENT  OF  ANY  CURRENTLY
 EMPLOYED  WORKER  OF  NYCHA  OR  LOSS  OF  POSITION,  INCLUDING  PARTIAL
 DISPLACEMENT SUCH AS A REDUCTION IN  THE  HOURS  OF  NON-OVERTIME  WORK,
 WAGES  OR  EMPLOYMENT  BENEFITS, OR RESULT IN THE IMPAIRMENT OF EXISTING
 COLLECTIVE BARGAINING AGREEMENTS TO WHICH  NYCHA  IS  A  PARTY,  OR  (2)
 TRANSFER  OF  EXISTING  DUTIES  AND FUNCTIONS RELATED TO MAINTENANCE AND
 OPERATIONS CURRENTLY PERFORMED BY  EXISTING  EMPLOYEES  OF  NYCHA  TO  A
 CONTRACTOR.
   (C)  EMPLOYEES  OF  THE  TRUST AND NYCHA SERVING IN POSITIONS IN NEWLY
 CREATED TITLES SHALL BE ASSIGNED TO  THE  APPROPRIATE  BARGAINING  UNIT.
 NOTHING  CONTAINED  IN THIS SECTION SHALL BE CONSTRUED TO AFFECT (1) THE
 EXISTING RIGHTS OF EMPLOYEES OF NYCHA PURSUANT TO AN EXISTING COLLECTIVE
 BARGAINING AGREEMENT, (2) THE  EXISTING  REPRESENTATIONAL  RELATIONSHIPS
 AMONG EMPLOYEE ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA, OR (3) THE
 BARGAINING RELATIONSHIPS BETWEEN NYCHA AND SUCH EMPLOYEE ORGANIZATIONS.
   (D)   WITHOUT  LIMITING  CONTRACTORS'  OBLIGATIONS  UNDER  ALTERNATIVE
 PROJECT DELIVERY CONTRACTS TO ISSUE THEIR OWN INITIAL CERTIFICATIONS  OF
 SUBSTANTIAL  COMPLETION  AND  FINAL  COMPLETION, PUBLIC EMPLOYEES OF THE
 TRUST SHALL REVIEW AND DETERMINE WHETHER THE WORK PERFORMED BY  CONTRAC-
 TORS  IS ACCEPTABLE AND HAS BEEN PERFORMED IN ACCORDANCE WITH THE APPLI-
 CABLE ALTERNATIVE PROJECT DELIVERY CONTRACTS, AND IF SUCH PUBLIC EMPLOY-
 EES SO  DETERMINE,  SUCH  PUBLIC  EMPLOYEES  SHALL  ACCEPT  CONTRACTORS'
 SUBSTANTIAL  OR  FINAL  COMPLETION  OF  THE  PUBLIC WORKS AS APPLICABLE.
 PERFORMANCE BY PUBLIC EMPLOYEES OF THE TRUST OF ANY REVIEW DESCRIBED  IN
 THIS  SUBDIVISION SHALL NOT BE CONSTRUED TO MODIFY OR LIMIT CONTRACTORS'
 OBLIGATIONS TO PERFORM THE WORK IN STRICT ACCORDANCE WITH THE APPLICABLE
 ALTERNATIVE PROJECT DELIVERY CONTRACT OR THE CONTRACTORS' OR ANY SUBCON-
 TRACTORS' OBLIGATIONS OR LIABILITIES UNDER ANY LAW.
   § 636. ADDITIONAL AUTHORITY. THE PROCUREMENT  AUTHORITY  CONFERRED  BY
 THIS  ARTICLE  SHALL  NOT IMPACT OR IMPAIR, AND SHALL BE IN ADDITION TO,
 THE AUTHORITY CONFERRED BY THE NYCHA MODERNIZATION  INVESTMENT  ACT  AND
 THE NEW YORK CITY PUBLIC WORKS INVESTMENT ACT.
   §  637.  ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE  PROJECT  DELIVERY
 CONTRACTS.  CONSTRUCTION PERFORMED UNDER A CONTRACT ENTERED INTO BY  THE
 TRUST  PURSUANT  TO  THIS  ARTICLE SHALL BE DEEMED A "PUBLIC WORK" TO BE
 PERFORMED IN ACCORDANCE WITH THE PROVISIONS  OF  ARTICLE  EIGHT  OF  THE
 LABOR  LAW,  AS  WELL  AS  SUBJECT  TO SECTIONS TWO HUNDRED, TWO HUNDRED
 A. 7805--B                         18
 
 FORTY, TWO HUNDRED FORTY-ONE AND TWO HUNDRED FORTY-TWO OF THE LABOR  LAW
 AND  ENFORCEMENT  OF PREVAILING WAGE REQUIREMENTS PURSUANT TO APPLICABLE
 LAW OR, FOR PROJECTS OR PUBLIC WORKS RECEIVING FEDERAL  AID,  APPLICABLE
 FEDERAL  REQUIREMENTS  FOR  PREVAILING  WAGE.  ANY CONTRACT ENTERED INTO
 PURSUANT TO SECTION  SIX  HUNDRED  THIRTY-FIVE  OF  THIS  ARTICLE  SHALL
 INCLUDE  A  CLAUSE  REQUIRING  THE SELECTED ALTERNATIVE PROJECT DELIVERY
 CONTRACTOR TO OBLIGATE EVERY TIER OF CONTRACTOR WORKING  ON  THE  PUBLIC
 WORK  TO COMPLY WITH THE PROJECT LABOR AGREEMENT REQUIRED BY SECTION SIX
 HUNDRED THIRTY-FIVE OF THIS ARTICLE, AND  SHALL  INCLUDE  PROJECT  LABOR
 AGREEMENT  COMPLIANCE  MONITORING  AND ENFORCEMENT PROVISIONS CONSISTENT
 WITH ANY SUCH PROJECT LABOR AGREEMENT.
   § 638. BORROWING BY THE TRUST AND FOR ITS BENEFIT; EFFECTS OF  CERTAIN
 DEFAULTS.  1. FOR THE PURPOSES OF THIS SECTION, THE TERM "PROJECT" MEANS
 THE  DEVELOPMENT,  DESIGN,  CONSTRUCTION,  RECONSTRUCTION,  IMPROVEMENT,
 REHABILITATION, REPAIRING AND OPERATION OF HOUSING FACILITIES.
   2.  THE  TRUST SHALL HAVE THE POWER AND IS HEREBY AUTHORIZED FROM TIME
 TO TIME TO ISSUE BONDS, NOTES OR OTHER OBLIGATIONS  IN  CONFORMITY  WITH
 APPLICABLE  PROVISIONS OF THE UNIFORM COMMERCIAL CODE, IN SUCH PRINCIPAL
 AMOUNTS AS IT MAY DETERMINE TO BE NECESSARY  TO  PAY  THE  COST  OF  ANY
 PROJECT  AND TO FUND RESERVES TO SECURE SUCH BONDS, NOTES OR OTHER OBLI-
 GATIONS, INCLUDING COSTS OF ISSUANCE AND  ANY  ADMINISTRATIVE  OR  INCI-
 DENTAL EXPENSES IN CONNECTION THEREWITH.  THE TRUST SHALL HAVE THE POWER
 FROM TIME TO TIME TO REFUND ANY BONDS, NOTES OR OTHER OBLIGATIONS OF THE
 TRUST  BY THE ISSUANCE OF NEW BONDS, NOTES OR OTHER OBLIGATIONS, AND MAY
 ISSUE BONDS, NOTES OR OTHER OBLIGATIONS PARTLY TO REFUND BONDS, NOTES OR
 OTHER OBLIGATIONS OF THE TRUST THEN OUTSTANDING AND PARTLY  TO  PAY  THE
 COST  OF  ANY PROJECT.   BONDS, NOTES OR OTHER OBLIGATIONS ISSUED BY THE
 TRUST SHALL BE PAYABLE AS MAY BE DESIGNATED IN  THE  RESOLUTION  OF  THE
 TRUST UNDER WHICH THE BONDS, NOTES OR OTHER OBLIGATIONS SHALL BE AUTHOR-
 IZED  TO  BE  ISSUED,  SUBJECT  TO  ANY  AGREEMENTS  WITH THE HOLDERS OF
 OUTSTANDING BONDS, NOTES OR OTHER OBLIGATIONS  PLEDGING  ANY  PARTICULAR
 REVENUES  OR MONEYS.   NO BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST
 OR ANY ENTITY REFERRED TO IN SUBDIVISION THIRTEEN OF SECTION SIX HUNDRED
 TWENTY-NINE OF THIS ARTICLE SHALL BE  ISSUED  OR  INCURRED  WITHOUT  THE
 PRIOR  WRITTEN  APPROVAL OF THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE
 CITY OF NEW YORK.
   3. THE TRUST SHALL BE AUTHORIZED TO OBTAIN INSURANCE, LETTERS OF CRED-
 IT AND OTHER CREDIT OR LIQUIDITY FACILITIES RELATED TO ITS BONDS,  NOTES
 OR OTHER OBLIGATIONS.
   4.  THE  BOARD MAY DELEGATE TO THE CHAIR OR THE PRESIDENT OF THE TRUST
 THE POWER TO SET THE FINAL TERMS OF BONDS, NOTES OR OTHER OBLIGATIONS.
   5. WHENEVER THE TRUST SHALL DETERMINE THAT THE ISSUANCE OF ITS  BONDS,
 NOTES OR OTHER OBLIGATIONS IS APPROPRIATE, THE TRUST SHALL MAKE A DETER-
 MINATION  AS  TO THE ARRANGEMENTS NECESSARY FOR THE ISSUANCE AND SALE OF
 SUCH BONDS, NOTES OR OTHER OBLIGATIONS, INCLUDING  THE  UNDERWRITING  OF
 SUCH  BONDS,  NOTES  OR  OTHER OBLIGATIONS THROUGH THE PUBLIC OR PRIVATE
 SALE OF SUCH BONDS, NOTES OR OTHER OBLIGATIONS, AND  SUCH  DETERMINATION
 SHALL  INCLUDE  COMPENSATION  FOR  SERVICES  RENDERED AS THE TRUST DEEMS
 APPROPRIATE. SUCH DETERMINATION SHALL BE SET FORTH IN  A  RESOLUTION  OF
 THE  TRUST, WHICH SHALL AUTHORIZE ISSUANCE OF SUCH BONDS, NOTES OR OTHER
 OBLIGATIONS.  THE BONDS, NOTES OR OTHER OBLIGATIONS SHALL BEAR  INTEREST
 AT  SUCH  FIXED OR VARIABLE RATES AND SHALL BE IN SUCH DENOMINATIONS, BE
 IN SUCH FORM, EITHER COUPON OR REGISTERED, BE SOLD  AT  SUCH  PUBLIC  OR
 PRIVATE  SALE,  BE  EXECUTED  IN  SUCH  MANNER, BE DENOMINATED IN UNITED
 STATES CURRENCY, BE PAYABLE IN SUCH MEDIUM OF PAYMENT, AT SUCH PLACE AND
 A. 7805--B                         19
 
 BE SUBJECT TO SUCH TERMS OF REDEMPTION AS THE TRUST MAY PROVIDE IN  SUCH
 RESOLUTION.
   6.  ANY  RESOLUTION  OR  RESOLUTIONS AUTHORIZING BONDS, NOTES OR OTHER
 OBLIGATIONS OR ANY ISSUE  OF  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  MAY
 CONTAIN  PROVISIONS WHICH MAY BE A PART OF THE CONTRACT WITH THE HOLDERS
 OF THE BONDS, NOTES OR OTHER OBLIGATIONS THEREBY AUTHORIZED AS TO:
   (A) PLEDGING ALL OR PART OF ITS REVENUES, INCLUDING, BUT  NOT  LIMITED
 TO,  PROJECT-BASED  OR TENANT-BASED ASSISTANCE PURSUANT TO SECTION EIGHT
 OF THE UNITED STATES HOUSING ACT OF NINETEEN  HUNDRED  THIRTY-SEVEN,  AS
 AMENDED,  OR  ANY  SUCCESSOR PROVISION, AND ASSISTANCE PROVIDED TO NYCHA
 PURSUANT TO SECTION NINE OF THE UNITED STATES HOUSING  ACT  OF  NINETEEN
 HUNDRED  THIRTY-SEVEN,  AS AMENDED, OR ANY SUCCESSOR PROVISION, TOGETHER
 WITH ANY OTHER MONEYS, SECURITIES OR CONTRACTS, TO SECURE THE PAYMENT OF
 THE BONDS, NOTES OR OTHER OBLIGATIONS, SUBJECT TO SUCH AGREEMENTS AS MAY
 THEN EXIST;
   (B) THE SETTING ASIDE OF RESERVES AND THE CREATION  OF  SINKING  FUNDS
 AND THE REGULATION AND DISPOSITION THEREOF;
   (C)  LIMITATIONS ON THE PURPOSE TO WHICH THE PROCEEDS FROM THE SALE OF
 BONDS, NOTES OR OTHER OBLIGATIONS MAY BE APPLIED;
   (D) LIMITATIONS ON THE ISSUANCE OF ADDITIONAL BONDS,  NOTES  OR  OTHER
 OBLIGATIONS, THE TERMS UPON WHICH ADDITIONAL BONDS, NOTES OR OTHER OBLI-
 GATIONS  MAY  BE ISSUED AND SECURED AND THE REFUNDING OF BONDS, NOTES OR
 OTHER OBLIGATIONS;
   (E) THE PROCEDURE, IF ANY, BY WHICH THE TERMS  OF  ANY  CONTRACT  WITH
 HOLDERS  OF BONDS, NOTES OR OTHER OBLIGATIONS MAY BE AMENDED OR ABROGAT-
 ED, INCLUDING THE PROPORTION OF HOLDERS OF BONDS, NOTES OR  OTHER  OBLI-
 GATIONS WHICH ARE NEEDED TO CONSENT THERETO AND THE MANNER IN WHICH SUCH
 CONSENT MAY BE GIVEN;
   (F)  VESTING  IN  A  BOND TRUSTEE OR TRUSTEES SUCH PROPERTIES, RIGHTS,
 POWERS AND DUTIES IN TRUST AS THE TRUST MAY DETERMINE; AND
   (G) DEFINING THE ACTS OR  OMISSIONS  TO  ACT  THAT  MAY  CONSTITUTE  A
 DEFAULT  IN  THE  OBLIGATIONS  AND DUTIES OF THE TRUST TO THE HOLDERS OF
 BONDS, NOTES OR OTHER OBLIGATIONS AND PROVIDING FOR THE RIGHTS AND REME-
 DIES OF THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS IN THE EVENT OF
 SUCH DEFAULT, INCLUDING AS A  MATTER  OF  RIGHT  THE  APPOINTMENT  OF  A
 RECEIVER,  PROVIDED, HOWEVER, THAT SUCH RIGHTS AND REMEDIES SHALL NOT BE
 INCONSISTENT WITH THE GENERAL LAWS OF THE STATE AND OTHER PROVISIONS  OF
 THIS ARTICLE.
   7. IN ADDITION TO THE POWERS HEREIN CONFERRED UPON THE TRUST TO SECURE
 ITS  BONDS,  NOTES  OR  OTHER OBLIGATIONS, THE TRUST SHALL HAVE POWER IN
 CONNECTION WITH THE ISSUANCE OF BONDS, NOTES  OR  OTHER  OBLIGATIONS  TO
 ENTER  INTO  SUCH  AGREEMENTS  FOR  THE BENEFIT OF THE HOLDERS OF BONDS,
 NOTES OR OTHER OBLIGATIONS AS THE TRUST MAY DEEM  NECESSARY,  CONVENIENT
 OR  DESIRABLE CONCERNING THE USE OR DISPOSITION OF ITS REVENUES OR OTHER
 MONEYS, INCLUDING THE ENTRUSTING, PLEDGING  OR  CREATION  OF  ANY  OTHER
 SECURITY INTEREST IN ANY SUCH REVENUES, MONEYS AND THE DOING OF ANY ACT,
 INCLUDING  REFRAINING FROM DOING ANY ACT, WHICH THE TRUST WOULD HAVE THE
 RIGHT TO DO IN THE ABSENCE OF SUCH  AGREEMENTS.  THE  TRUST  SHALL  HAVE
 POWER  TO ENTER INTO AMENDMENTS OF ANY SUCH AGREEMENTS WITHIN THE POWERS
 GRANTED TO THE TRUST BY THIS ARTICLE AND TO PERFORM SUCH AGREEMENTS. THE
 PROVISIONS OF ANY SUCH AGREEMENTS MAY BE MADE A  PART  OF  THE  CONTRACT
 WITH THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST.
   8. NOTWITHSTANDING ANY PROVISION OF THE UNIFORM COMMERCIAL CODE TO THE
 CONTRARY,  ANY PLEDGE OF OR OTHER SECURITY INTEREST IN REVENUES, MONEYS,
 ACCOUNTS, CONTRACT RIGHTS, GENERAL INTANGIBLE OR OTHER PERSONAL PROPERTY
 MADE OR CREATED BY THE TRUST SHALL BE VALID, BINDING AND PERFECTED  FROM
 A. 7805--B                         20
 
 THE  TIME  WHEN  SUCH PLEDGE IS MADE OR OTHER SECURITY INTEREST ATTACHES
 WITHOUT ANY PHYSICAL DELIVERY OF THE COLLATERAL OR FURTHER ACT, AND  THE
 LIEN OF ANY SUCH PLEDGE OR OTHER SECURITY INTEREST SHALL BE VALID, BIND-
 ING AND PERFECTED AGAINST ALL PARTIES HAVING CLAIMS OF ANY KIND IN TORT,
 CONTRACT  OR  OTHERWISE AGAINST THE TRUST IRRESPECTIVE OF WHETHER OR NOT
 SUCH PARTIES HAVE NOTICE THEREOF. NO INSTRUMENT BY WHICH SUCH  A  PLEDGE
 OR  SECURITY  INTEREST  IS  CREATED  NOR ANY FINANCING STATEMENT NEED BE
 RECORDED OR FILED.
   9. WHETHER OR NOT THE BONDS, NOTES OR OTHER OBLIGATIONS OF  THE  TRUST
 ARE OF SUCH FORM AND CHARACTER AS TO BE NEGOTIABLE INSTRUMENTS UNDER THE
 TERMS  OF  THE  UNIFORM COMMERCIAL CODE, THE BONDS, NOTES OR OTHER OBLI-
 GATIONS ARE HEREBY MADE NEGOTIABLE INSTRUMENTS WITHIN THE MEANING OF AND
 FOR ALL THE PURPOSES OF THE UNIFORM COMMERCIAL CODE, SUBJECT ONLY TO THE
 PROVISIONS OF THE BONDS, NOTES OR OTHER OBLIGATIONS FOR REGISTRATION.
   10. NEITHER THE MEMBERS OF THE BOARD NOR ANY  PERSON  EXECUTING  BONDS
 SHALL BE LIABLE PERSONALLY THEREON OR BE SUBJECT TO ANY PERSONAL LIABIL-
 ITY  OR  ACCOUNTABILITY  SOLELY  BY  REASON OF THE ISSUANCE THEREOF. THE
 BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST SHALL NOT BE  A  DEBT  OF
 NYCHA, THE CITY, OR THE STATE, AND NEITHER NYCHA, THE CITY NOR THE STATE
 SHALL  BE  LIABLE  THEREON,  NOR  SHALL THEY BE PAYABLE OUT OF ANY FUNDS
 OTHER THAN THOSE OF THE TRUST, AND SUCH  BONDS,  NOTES  OR  OTHER  OBLI-
 GATIONS SHALL CONTAIN ON THE FACE THEREOF A STATEMENT TO SUCH EFFECT.
   11. THE TRUST, SUBJECT TO SUCH AGREEMENTS WITH BONDHOLDERS AS THEN MAY
 EXIST, SHALL HAVE POWER TO PURCHASE BONDS, NOTES OR OTHER OBLIGATIONS OF
 THE TRUST OUT OF ANY MONEYS AVAILABLE THEREFOR, WHICH SHALL THEREUPON BE
 CANCELLED.
   12.  NOTWITHSTANDING  ANY  PROVISION  OF ARTICLE TWELVE OF THE PRIVATE
 HOUSING FINANCE LAW, SECTION  TWENTY-NINE  HUNDRED  SEVENTY-SIX  OF  THE
 PUBLIC AUTHORITIES LAW OR ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO THE
 CONTRARY,  (A)  THE  PURPOSES  OF  THE NEW YORK CITY HOUSING DEVELOPMENT
 CORPORATION AND ITS POWERS GRANTED IN  ARTICLE  TWELVE  OF  THE  PRIVATE
 HOUSING FINANCE LAW ALSO SHALL INCLUDE, SUBJECT TO THE PROVISIONS OF ANY
 CONTRACT  WITH  HOLDERS  OF  ITS  BONDS, NOTES OR OTHER OBLIGATIONS, THE
 MAKING OF LOANS TO THE TRUST AND ENTITIES  REFERRED  TO  IN  SUBDIVISION
 THIRTEEN  OF  SECTION  SIX  HUNDRED TWENTY-NINE OF THIS ARTICLE, AND (B)
 BONDS, NOTES OR OTHER OBLIGATIONS OF THE NEW YORK CITY HOUSING  DEVELOP-
 MENT  CORPORATION  ISSUED  FOR, OR TO REFUND BONDS, NOTES OR OTHER OBLI-
 GATIONS ISSUED FOR, SUCH PURPOSE OR THE  PURPOSES  OF  PAYING  COSTS  OF
 ISSUANCE  THEREOF  OR  FUNDING  RESERVES  TO SECURE SUCH BONDS, NOTES OR
 OTHER OBLIGATIONS (I) MAY BE SOLD WITHOUT ANY CONSULTATION  OR  APPROVAL
 OTHERWISE  REQUIRED BY SUBDIVISION TWO OF SECTION SIX HUNDRED FIFTY-FIVE
 OF THE PRIVATE HOUSING FINANCE LAW, (II) SHALL NOT BE  INCLUDED  IN  ANY
 CALCULATION  OF  OUTSTANDING  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  FOR
 PURPOSES OF SECTION SIX HUNDRED FIFTY-SIX OF THE PRIVATE HOUSING FINANCE
 LAW AND SHALL NOT BE SECURED BY ANY  CAPITAL  RESERVE  FUND  ESTABLISHED
 PURSUANT  THERETO, AND (III) SHALL NOT BE INCLUDED IN ANY CALCULATION OF
 BONDS, NOTES OR OTHER OBLIGATIONS ISSUED BY THE NEW  YORK  CITY  HOUSING
 DEVELOPMENT  CORPORATION  FOR  PURPOSES  OF  SECTION TWENTY-NINE HUNDRED
 SEVENTY-SIX OF THE PUBLIC AUTHORITIES LAW.
   13. IN THE EVENT THAT ANY DEFAULT ON ANY BOND,  NOTE  OR  OTHER  OBLI-
 GATION  THAT  IS  SECURED BY AN ASSIGNMENT OF, MORTGAGE ON, PLEDGE OF OR
 OTHER ENCUMBRANCE ON ANY INTEREST OF THE TRUST, OR ANY  ENTITY  REFERRED
 TO  IN  SUBDIVISION  THIRTEEN OF SECTION SIX HUNDRED TWENTY-NINE OF THIS
 ARTICLE, IN ANY HOUSING  FACILITIES,  HAS  OCCURRED  AND  IS  CONTINUING
 BEYOND THE APPLICABLE CURE PERIOD, IF ANY, PROVIDED TO THE TRUST OR SUCH
 ENTITY  IN  THE INSTRUMENT GRANTING SUCH ASSIGNMENT, MORTGAGE, PLEDGE OR
 A. 7805--B                         21

 OTHER ENCUMBRANCE, NOTWITHSTANDING ANY PROVISION IN SUCH INSTRUMENT, ANY
 RIGHT OF THE BENEFICIARY OF SUCH INSTRUMENT TO OBTAIN SUCH  INTEREST  IN
 SUCH  HOUSING  FACILITIES  AS  A REMEDY TO ANY SUCH DEFAULT SHALL, FOR A
 PERIOD  ENDING THIRTY DAYS AFTER THE END OF SUCH CURE PERIOD, BE SUBJECT
 TO:
   (A) THE RIGHT OF THE CITY OF NEW YORK TO REMEDY, OR CAUSE TO BE  REME-
 DIED, SUCH DEFAULT; AND
   (B) THE RIGHT OF THE STATE OF NEW YORK TO REMEDY, OR CAUSE TO BE REME-
 DIED,  SUCH DEFAULT; PROVIDED, HOWEVER, THAT NOTHING IN THIS SUBDIVISION
 SHALL BE CONSTRUED TO IMPOSE ANY OBLIGATION ON THE CITY OF NEW  YORK  OR
 ON  THE  STATE  OF  NEW  YORK  TO  REMEDY, OR CAUSE TO BE REMEDIED, SUCH
 DEFAULT.
   14. NOTWITHSTANDING ANY DEFAULT  ON  ANY  OBLIGATION  REFERRED  TO  IN
 SUBDIVISION  THIRTEEN  OF  THIS SECTION, AND ANY REMEDIES EXERCISED AS A
 RESULT OF SUCH DEFAULT, PROVISIONS RELATING TO THE RESTRICTED USE OF THE
 HOUSING FACILITIES FOR THE PROVISION AND OPERATION OF HOUSING  FOR  LOW-
 INCOME  FAMILIES AND CURRENT RESIDENTS SHALL AT ALL TIMES CONTINUE TO BE
 IN EFFECT IN PERPETUITY, AND THE HOUSING FACILITIES SHALL REMAIN SUBJECT
 TO THE PROVISIONS OF SUBDIVISION FOUR OF SECTION SIX HUNDRED  THIRTY  OF
 THIS  ARTICLE  AND  SECTION  SIX HUNDRED THIRTY-TWO OF THIS ARTICLE. THE
 TRUST SHALL NOT PLEDGE THE FEE OWNERSHIP OF THE  HOUSING  FACILITIES  AS
 PART OF A FINANCING ARRANGEMENT.
   15.  AT  LEAST QUARTERLY, THE TRUST SHALL PROVIDE FINANCIAL REPORTS TO
 THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK CONTAINING
 SUCH INFORMATION AS THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF
 NEW YORK MAY REQUEST.
   § 639. RESOURCES OF THE TRUST. 1. SUBJECT TO THE  PROVISIONS  OF  THIS
 ARTICLE,  THE MEMBERS OF THE BOARD SHALL RECEIVE, ACCEPT, INVEST, ADMIN-
 ISTER, EXPEND AND DISBURSE FOR ITS CORPORATE PURPOSES ALL MONEY  OF  THE
 TRUST FROM WHATEVER SOURCES DERIVED INCLUDING (A) THE PROCEEDS OF BONDS,
 NOTES  AND  OTHER  OBLIGATIONS,  AND  (B)  ANY OTHER PAYMENTS, GIFTS, OR
 APPROPRIATIONS TO THE TRUST FROM ANY OTHER SOURCE.
   2. SUBJECT TO THE PROVISIONS OF ANY CONTRACT WITH  HOLDERS  OF  BONDS,
 NOTES  OR OTHER OBLIGATIONS, THE MONEY OF THE TRUST SHALL BE PAID TO THE
 TRUST AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEY. THE MONEY OF THE
 TRUST SHALL BE DEPOSITED IN ACCOUNTS HELD IN THE  TRUST'S  NAME  IN  THE
 BANK OR BANKS IN THE STATE DESIGNATED BY THE TRUST.
   3.  THE  MONEYS  IN  SUCH  ACCOUNTS SHALL BE PAID OUT ON CHECKS OF THE
 TRUST UPON REQUISITION BY THE CHAIR OR SUCH OFFICER OR OFFICERS  AS  THE
 TRUST  MAY  AUTHORIZE  TO  MAKE SUCH REQUISITIONS, OR PURSUANT TO A BOND
 RESOLUTION OR TRUST INDENTURE.
   4. ANY MONEYS ON DEPOSIT IN THE ACCOUNTS OF THE TRUST NOT REQUIRED FOR
 IMMEDIATE EXPENDITURE SHALL BE INVESTED IN OBLIGATIONS IN WHICH A  MUNI-
 CIPALITY  MAY  BE AUTHORIZED TO INVEST IN ACCORDANCE WITH SECTION ELEVEN
 OF THE GENERAL MUNICIPAL LAW, PROVIDED, HOWEVER, THAT SUCH  FUNDS  SHALL
 NOT  BE INVESTED IN INSTRUMENTS COMMONLY KNOWN AS REPURCHASE AGREEMENTS.
 THE TRUST SHALL HAVE THE POWER, NOTWITHSTANDING THE PROVISIONS  OF  THIS
 SECTION,  TO  CONTRACT  WITH  THE HOLDERS OF ANY OF ITS BONDS, NOTES AND
 OTHER OBLIGATIONS AS TO THE CUSTODY,  COLLECTION,  SECURING,  INVESTMENT
 AND  PAYMENT  OF  ANY  MONEY  OF THE TRUST OR ANY MONEY HELD IN TRUST OR
 OTHERWISE FOR THE PAYMENT OF BONDS, NOTES AND OTHER  OBLIGATIONS  OR  IN
 ANY  WAY  TO SECURE BONDS, NOTES AND OTHER OBLIGATIONS, AND TO CARRY OUT
 ANY SUCH CONTRACT.
   § 640. LEGAL INVESTMENT AND DEPOSIT. THE BONDS, NOTES OR  OTHER  OBLI-
 GATIONS  OF  THE  TRUST  ARE  HEREBY MADE SECURITIES IN WHICH ALL PUBLIC
 OFFICERS AND BODIES OF THE STATE AND ALL  PUBLIC  CORPORATIONS,  MUNICI-
 A. 7805--B                         22
 
 PALITIES AND MUNICIPAL SUBDIVISIONS, ALL INSURANCE COMPANIES AND ASSOCI-
 ATIONS  AND  OTHER PERSONS CARRYING ON AN INSURANCE BUSINESS, ALL BANKS,
 BANKERS, TRUST COMPANIES, SAVINGS BANKS AND SAVINGS ASSOCIATIONS INCLUD-
 ING  SAVINGS  AND  LOAN  ASSOCIATIONS,  BUILDING  AND LOAN ASSOCIATIONS,
 INVESTMENT COMPANIES AND OTHER PERSONS CARRYING ON A  BANKING  BUSINESS,
 ALL  ADMINISTRATORS,  CONSERVATORS,  GUARDIANS,  EXECUTORS, TRUSTEES AND
 OTHER FIDUCIARIES, AND ALL OTHER PERSONS WHATSOEVER WHO ARE NOW  OR  MAY
 HEREAFTER  BE  AUTHORIZED  TO INVEST IN BONDS OR IN OTHER OBLIGATIONS OF
 THE STATE, MAY PROPERLY AND LEGALLY INVEST FUNDS, INCLUDING CAPITAL,  IN
 THEIR  CONTROL  OR  BELONGING  TO  THEM. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS ARE ALSO HEREBY MADE SECURITIES WHICH MAY BE DEPOSITED WITH  AND
 MAY  BE  RECEIVED BY ALL PUBLIC OFFICERS AND BODIES OF THE STATE AND ALL
 MUNICIPALITIES AND PUBLIC CORPORATIONS FOR ANY  PURPOSE  FOR  WHICH  THE
 DEPOSIT  OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE STATE IS NOW OR MAY
 HEREAFTER BE AUTHORIZED.
   § 641. TAX EXEMPTION AND TAX CONTRACT BY THE STATE. 1.  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  OF  NEW YORK AND IS A PUBLIC PURPOSE. ACCORDINGLY, THE TRUST
 SHALL BE REGARDED AS PERFORMING AN ESSENTIAL  GOVERNMENTAL  FUNCTION  IN
 THE  EXERCISE  OF  THE POWERS CONFERRED UPON IT BY THIS ARTICLE, AND THE
 TRUST SHALL NOT BE REQUIRED TO PAY ANY FEES, TAXES, SPECIAL  AD  VALOREM
 LEVIES  OR ASSESSMENTS OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, FRAN-
 CHISE TAXES, SALES TAXES OR OTHER TAXES, UPON OR  WITH  RESPECT  TO  ANY
 PROPERTY  OWNED BY IT OR UNDER ITS JURISDICTION, CONTROL OR SUPERVISION,
 OR UPON THE USES THEREOF, OR UPON OR WITH RESPECT TO ITS  ACTIVITIES  OR
 OPERATIONS  IN FURTHERANCE OF THE POWERS CONFERRED UPON IT BY THIS ARTI-
 CLE, OR UPON OR WITH RESPECT TO ANY FARES, TOLLS, RENTALS, RATES, CHARG-
 ES, FEES, REVENUES OR OTHER INCOME RECEIVED BY THE TRUST.
   2. ANY BONDS, NOTES OR OTHER OBLIGATIONS ISSUED PURSUANT TO THIS ARTI-
 CLE TOGETHER WITH THE INCOME THEREFROM SHALL AT ALL TIMES BE EXEMPT FROM
 TAXATION.
   3. THE STATE HEREBY COVENANTS WITH THE PURCHASERS AND WITH ALL  SUBSE-
 QUENT  HOLDERS  AND  TRANSFEREES  OF  BONDS,  NOTES OR OTHER OBLIGATIONS
 ISSUED BY THE TRUST PURSUANT TO THIS ARTICLE, IN  CONSIDERATION  OF  THE
 ACCEPTANCE  OF  AND  PAYMENT  FOR THE BONDS, NOTES OR OTHER OBLIGATIONS,
 THAT THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST ISSUED  PURSUANT
 TO  THIS  ARTICLE AND THE INCOME THEREFROM AND ALL REVENUES, MONIES, AND
 OTHER PROPERTY PLEDGED TO PAY OR TO SECURE THE PAYMENT  OF  SUCH  BONDS,
 NOTES OR OTHER OBLIGATIONS SHALL AT ALL TIMES BE FREE FROM TAXATION.
   §  642. ACTIONS AGAINST THE TRUST. 1. EXCEPT IN AN ACTION FOR WRONGFUL
 DEATH, NO ACTION OR PROCEEDING SHALL BE PROSECUTED OR MAINTAINED AGAINST
 THE TRUST FOR PERSONAL INJURY OR DAMAGE TO  REAL  OR  PERSONAL  PROPERTY
 ALLEGED  TO  HAVE BEEN SUSTAINED BY REASON OF THE NEGLIGENCE OR WRONGFUL
 ACT OF THE TRUST OR OF ANY  MEMBER  OF  THE  BOARD,  OFFICER,  AGENT  OR
 EMPLOYEE  THEREOF, UNLESS (A) IT SHALL APPEAR BY AND AS AN ALLEGATION IN
 THE COMPLAINT OR MOVING PAPERS THAT A NOTICE OF CLAIM  SHALL  HAVE  BEEN
 MADE  AND SERVED UPON THE TRUST, WITHIN THE TIME LIMIT PRESCRIBED BY AND
 IN COMPLIANCE WITH SECTION FIFTY-E OF THE GENERAL MUNICIPAL LAW, (B)  IT
 SHALL  APPEAR  BY AND AS AN ALLEGATION IN THE COMPLAINT OR MOVING PAPERS
 THAT AT LEAST THIRTY DAYS HAVE ELAPSED SINCE THE SERVICE OF SUCH  NOTICE
 AND  THAT  ADJUSTMENT  OR PAYMENT THEREOF HAS BEEN NEGLECTED OR REFUSED,
 AND (C) THE ACTION OR PROCEEDING SHALL BE COMMENCED  WITHIN  THE  PERIOD
 PROVIDED  UNDER SECTION FIFTY-I OF THE GENERAL MUNICIPAL LAW.  AN ACTION
 AGAINST THE TRUST FOR WRONGFUL DEATH SHALL BE  COMMENCED  IN  ACCORDANCE
 A. 7805--B                         23
 
 WITH  THE NOTICE OF CLAIM AND TIME LIMITATION PROVISIONS OF TITLE ELEVEN
 OF ARTICLE NINE OF THE PUBLIC AUTHORITIES LAW.
   2.  WHEREVER A NOTICE OF CLAIM IS SERVED UPON THE TRUST, IT SHALL HAVE
 THE RIGHT TO DEMAND AN EXAMINATION  OF  THE  CLAIMANT  RELATIVE  TO  THE
 OCCURRENCE  AND  EXTENT  OF  THE  INJURIES OR DAMAGES FOR WHICH CLAIM IS
 MADE, IN ACCORDANCE WITH THE PROVISIONS OF SECTION FIFTY-H OF THE GENER-
 AL MUNICIPAL LAW.
   3. THE TRUST MAY REQUIRE  ANY  PERSON  PRESENTING  FOR  SETTLEMENT  AN
 ACCOUNT  OR CLAIM FOR ANY CAUSE WHATSOEVER AGAINST THE TRUST TO BE SWORN
 BEFORE A MEMBER OF THE BOARD, COUNSEL OR AN ATTORNEY, OFFICER OR EMPLOY-
 EE THEREOF DESIGNATED FOR SUCH PURPOSE, CONCERNING SUCH ACCOUNT OR CLAIM
 AND WHEN SO SWORN, TO ANSWER ORALLY AS TO ANY  FACTS  RELATIVE  TO  SUCH
 ACCOUNT  OR  CLAIM.  THE  TRUST SHALL HAVE POWER TO SETTLE OR ADJUST ANY
 CLAIMS IN FAVOR OF OR AGAINST THE TRUST.
   4. THE RATE OF INTEREST TO BE PAID BY THE TRUST UPON ANY JUDGMENT  FOR
 WHICH IT IS LIABLE, OTHER THAN A JUDGMENT ON BONDS, NOTES OR OTHER OBLI-
 GATIONS,  SHALL NOT EXCEED THE RATE OF INTEREST ON JUDGMENTS AND ACCRUED
 CLAIMS AGAINST MUNICIPAL AUTHORITIES AS PROVIDED IN THE GENERAL  MUNICI-
 PAL  LAW.    INTEREST ON PAYMENTS OF PRINCIPAL OR INTEREST ON ANY BONDS,
 NOTES OR OTHER OBLIGATIONS IN DEFAULT SHALL ACCRUE AT THE RATE SPECIFIED
 IN THE GENERAL MUNICIPAL LAW UNTIL PAID OR OTHERWISE SATISFIED.
   5. THE VENUE OF EVERY  ACTION,  SUIT  OR  SPECIAL  PROCEEDING  BROUGHT
 AGAINST THE TRUST SHALL BE LAID IN THE COUNTY OF NEW YORK.
   §  643. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP. 1. THE TRUST, FOR
 THE PURPOSE OF ADMINISTERING THE CIVIL SERVICE LAW, SHALL BE SUBJECT  TO
 THE  PROVISIONS  OF  THE  CIVIL  SERVICE  LAW  AND THE RULES OF THE CITY
 DEPARTMENT OF CITYWIDE ADMINISTRATIVE SERVICES OR ANY  SUCCESSOR  ACTING
 AS  THE  MUNICIPAL  COMMISSION  OF  THE CITY. THE PRESIDENT OF THE TRUST
 SHALL BE EMPOWERED TO ACT FOR THE  TRUST  IN  ALL  MATTERS  RELATING  TO
 COMPLIANCE WITH THIS SUBDIVISION.
   2.  WITH RESPECT TO PERSONS EMPLOYED BY NYCHA ON THE EFFECTIVE DATE OF
 THIS SECTION, THE TRUST AND NYCHA SHALL BE DEEMED TO BE THE SAME  PUBLIC
 EMPLOYER  ONLY  FOR  PURPOSES  OF TRANSFER OF EMPLOYMENT UNDER THE CIVIL
 SERVICE LAW, WHICH MAY BE MADE ONLY WITH THE APPROVAL OF THE  NYCHA  CEO
 AND THE PRESIDENT OF THE TRUST. NO CIVIL SERVICE RIGHT OF AN EMPLOYEE OF
 NYCHA  EMPLOYED  ON  THE  EFFECTIVE  DATE OF THIS ARTICLE SHALL BE LOST,
 IMPAIRED OR AFFECTED BY REASON OF THE ENACTMENT  OF  THIS  SECTION  INTO
 LAW.
   3.  ANY  PERSON  ON  AN  ELIGIBLE LIST FOR A POSITION WITH NYCHA SHALL
 CONTINUE TO HOLD SUCH POSITION ON SUCH LIST AND SHALL BE ENTITLED TO THE
 SAME CIVIL SERVICE RIGHTS. THE TRUST SHALL CONTINUE TO USE  ANY  NEW  OR
 EXISTING  CIVIL  SERVICE LISTS PROMULGATED BY THE DEPARTMENT OF CITYWIDE
 ADMINISTRATIVE SERVICES UNTIL SUCH TIME AS SUCCESSOR TITLES  ARE  ESTAB-
 LISHED.  EMPLOYEES  OF THE TRUST SHALL HAVE THE SAME RIGHTS AND BENEFITS
 AS EMPLOYEES OF NYCHA.
   4. ANY OFFICER OR EMPLOYEE OF NYCHA WHO IS TRANSFERRED  TO  THE  TRUST
 PURSUANT  TO  THIS  SECTION  AND  WHO AT THE TIME OF SUCH TRANSFER WAS A
 MEMBER OF THE NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM SHALL  CONTINUE
 TO  BE A MEMBER OF SUCH SYSTEM AS LONG AS HE OR SHE OR THEY CONTINUES IN
 SUCH SERVICE, AND SHALL CONTINUE TO HAVE ALL THE RIGHTS, PRIVILEGES  AND
 OBLIGATIONS  OF MEMBERSHIP IN SUCH SYSTEM. EMPLOYMENT BY THE TRUST SHALL
 CONSTITUTE CITY-SERVICE FOR THE PURPOSES OF CHAPTER ONE OF  TITLE  THIR-
 TEEN OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   § 644. COLLECTIVE NEGOTIATION. 1. EXCEPT AS OTHERWISE PROVIDED BY THIS
 ARTICLE, THE TRUST, BY MEANS OF A WRITTEN DETERMINATION OF THE PRESIDENT
 OF  THE TRUST TRANSMITTED TO THE MAYOR WITHIN ONE HUNDRED TWENTY DAYS OF
 A. 7805--B                         24
 
 THE EFFECTIVE DATE OF THIS SECTION, MAY ELECT TO HAVE THE NEW YORK  CITY
 COLLECTIVE BARGAINING LAW APPLY TO THE TRUST, SUBJECT TO APPROVAL OF THE
 MAYOR.  SUCH LAW SHALL APPLY TO THE TRUST PENDING SUCH DETERMINATION AND
 APPROVAL.  IN  THE  EVENT  THAT THE TRUST DOES NOT SO ELECT OR THE MAYOR
 DOES NOT APPROVE THE ELECTION, THE  STATE  PUBLIC  EMPLOYMENT  RELATIONS
 BOARD SHALL HAVE EXCLUSIVE JURISDICTION FOR THE PURPOSE OF ADMINISTERING
 THE  PROVISIONS  OF  ARTICLE  FOURTEEN OF THE CIVIL SERVICE LAW, AND THE
 PROVISIONS OF SECTION TWO HUNDRED TWELVE OF THE CIVIL SERVICE LAW  SHALL
 NOT BE APPLICABLE TO THE TRUST.
   2.  IN  THE  EVENT  THAT  THE  TRUST  ELECTS TO HAVE THE NEW YORK CITY
 COLLECTIVE BARGAINING LAW APPLY TO THE TRUST, FOR THE PURPOSE OF ARTICLE
 FOURTEEN OF THE CIVIL SERVICE LAW  AND  THE  NEW  YORK  CITY  COLLECTIVE
 BARGAINING  LAW,  AS  APPLICABLE,  THE  TRUST, ACTING BY AND THROUGH ITS
 PRESIDENT, SHALL BE DEEMED TO BE THE PUBLIC EMPLOYER AND AS  SUCH  SHALL
 NEGOTIATE WITH AND ENTER INTO WRITTEN AGREEMENTS WITH EMPLOYEE ORGANIZA-
 TIONS  REPRESENTING  THE  STAFF OF THE TRUST THAT HAVE BEEN CERTIFIED OR
 RECOGNIZED UNDER SUCH ARTICLE. IN CARRYING  ON  SUCH  NEGOTIATIONS,  THE
 PRESIDENT  OF  THE  TRUST  MAY CONSULT WITH AND SEEK ASSISTANCE FROM THE
 CITY OFFICE OF LABOR RELATIONS AND NYCHA. THE  PRESIDENT  OF  THE  TRUST
 SHALL  CONSULT  WITH THE APPROPRIATE PUBLIC EMPLOYEE ORGANIZATION ON THE
 ESTABLISHMENT OF, AND BARGAIN ALL  TERMS  AND  CONDITIONS  OF,  ANY  NEW
 TITLES ESTABLISHED FOR THE TRUST WHICH HAVE A COMMUNITY OF INTEREST WITH
 TITLES  ALREADY  REPRESENTED  BY  THE PUBLIC EMPLOYEE ORGANIZATION WHICH
 PRESENTLY HAS REPRESENTATION RIGHTS FOR THOSE TITLES FOR  NYCHA  OR  FOR
 THE  CITY.  ANY SUCH TITLES FOR WHICH TERMS AND CONDITIONS ARE BARGAINED
 PURSUANT TO THIS SUBDIVISION SHALL BE  DEEMED  TO  BE  SUCCESSOR  TITLES
 WITHIN  THE  MEANING  OF APPLICABLE LAW AND, SO LONG AS THE RESPONSIBIL-
 ITIES OF EMPLOYEES IN THESE TITLES ARE REASONABLY RELATED TO THE RESPON-
 SIBILITIES OF EMPLOYEES  CURRENTLY  REPRESENTED  BY  A  PUBLIC  EMPLOYEE
 ORGANIZATION,  SHALL  BE  ACCRETED TO THE APPROPRIATE BARGAINING CERTIF-
 ICATES FOR WHICH SUCH PUBLIC EMPLOYEE ORGANIZATION SHALL BE  VOLUNTARILY
 RECOGNIZED  AS  THE  BARGAINING AGENT UNDER PROCEDURES ACCEPTABLE TO THE
 OFFICE OF COLLECTIVE BARGAINING OR THE STATE PUBLIC EMPLOYMENT RELATIONS
 BOARD, AS APPLICABLE.
   § 645. APPLICATION OF STATE AND LOCAL HUMAN  RIGHTS  LAWS.    NOTWITH-
 STANDING  ANY  PROVISION  OF LAW TO THE CONTRARY, ARTICLE FIFTEEN OF THE
 EXECUTIVE LAW AND TITLE EIGHT OF THE ADMINISTRATIVE CODE OF THE CITY  OF
 NEW YORK SHALL APPLY TO THE TRUST.
   §  646.  LIMITED  LIABILITY.  1.  AS  USED  IN  THIS SECTION, THE TERM
 "EMPLOYEE" SHALL MEAN THE MEMBERS OF  THE  BOARD,  PRESIDENT,  OFFICERS,
 EMPLOYEES,  OR  A  FORMER  EMPLOYEE,  HIS  OR  HER  ESTATE OR JUDICIALLY
 APPOINTED PERSONAL REPRESENTATIVE.
   2. NEITHER THE MEMBERS OF THE BOARD NOR ANY OFFICERS  OR  EMPLOYEE  OF
 THE  TRUST  ACTING  ON  BEHALF THEREOF, WHILE ACTING WITHIN THE SCOPE OF
 SUCH PERSON'S AUTHORITY, SHALL BE SUBJECT  TO  ANY  LIABILITY  RESULTING
 FROM CARRYING OUT ANY OF THE POWERS EXPRESSLY GIVEN IN THIS ARTICLE.
   3. AT THE REQUEST OF THE EMPLOYEE, AND UPON COMPLIANCE BY THE EMPLOYEE
 WITH  THE  PROVISIONS  OF  THIS SECTION, THE TRUST SHALL PROVIDE FOR THE
 DEFENSE OF AN EMPLOYEE IN ANY CIVIL ACTION OR PROCEEDING IN ANY STATE OR
 FEDERAL COURT, ARISING OUT OF ANY ALLEGED  ACT  OR  OMISSION  WHICH  THE
 TRUST  FINDS  OCCURRED WHILE THE EMPLOYEE WAS ACTING WITHIN THE SCOPE OF
 HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF HIS OR  HER  PUBLIC
 DUTIES  AND  WAS NOT IN VIOLATION OF ANY RULE OR REGULATION OF THE TRUST
 AT THE TIME THE ALLEGED ACT OR OMISSION OCCURRED. THIS DUTY  TO  PROVIDE
 FOR  A  DEFENSE  AND  INDEMNIFICATION  SHALL  NOT ARISE WHERE SUCH CIVIL
 A. 7805--B                         25
 
 ACTION OR PROCEEDING IS BROUGHT BY OR ON BEHALF OF THE TRUST AGAINST THE
 EMPLOYEE.
   4.  THE  TRUST  SHALL INDEMNIFY AND HOLD HARMLESS ITS EMPLOYEES IN THE
 AMOUNT OF ANY CIVIL JUDGMENT OBTAINED  AGAINST  SUCH  EMPLOYEES  IN  ANY
 STATE  OR  FEDERAL  COURT, OR IN THE AMOUNT OF ANY SETTLEMENT OF A CLAIM
 APPROVED BY THE TRUST PROVIDED THAT THE ACT OR OMISSION FROM WHICH  SUCH
 JUDGMENT  OR  SETTLEMENT  AROSE  OCCURRED  WHILE THE EMPLOYEE WAS ACTING
 WITHIN THE SCOPE OF HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF
 HIS OR HER PUBLIC DUTIES AND WAS NOT IN VIOLATION OF ANY RULE  OR  REGU-
 LATION  OF THE TRUST AT THE TIME THE ALLEGED DAMAGES WERE SUSTAINED. THE
 DUTY TO INDEMNIFY AND HOLD HARMLESS PRESCRIBED BY THIS SECTION SHALL NOT
 ARISE WHERE THE INJURY OR DAMAGE RESULTED FROM AN  INTENTIONAL  WRONGDO-
 ING,  OR  RECKLESSNESS  ON  THE  PART  OF  THE EMPLOYEE. NOTHING IN THIS
 SECTION SHALL AUTHORIZE THE TRUST  TO  INDEMNIFY  OR  HOLD  HARMLESS  AN
 EMPLOYEE  WITH RESPECT TO PUNITIVE OR EXEMPLARY DAMAGES, FINES OR PENAL-
 TIES.
   5. THE DUTY TO DEFEND AND INDEMNIFY AND HOLD  HARMLESS  PRESCRIBED  BY
 THIS  SECTION  SHALL BE CONDITIONED UPON (A) DELIVERY BY THE EMPLOYEE TO
 THE PRESIDENT OR GENERAL COUNSEL OF THE TRUST AT THE OFFICE OF THE TRUST
 OF THE ORIGINAL OR A COPY OF ANY  SUMMONS,  COMPLAINT,  CLAIM,  PROCESS,
 NOTICE,  DEMAND OR PLEADING WITHIN TEN DAYS AFTER THE EMPLOYEE IS SERVED
 WITH SUCH DOCUMENT, AND (B) THE FULL COOPERATION OF THE EMPLOYEE IN  THE
 DEFENSE  OF  SUCH  ACTION  OR PROCEEDING AND IN DEFENSE OF ANY ACTION OR
 PROCEEDING AGAINST THE TRUST BASED UPON THE SAME ACT OR OMISSION, AND IN
 THE PROSECUTION OF ANY APPEAL.  SUCH DELIVERY SHALL BE DEEMED A  REQUEST
 BY  THE  EMPLOYEE THAT THE TRUST PROVIDE FOR HIS OR HER DEFENSE PURSUANT
 TO THIS SECTION. IN THE EVENT THAT THE TRUST SHALL ASSUME AN  EMPLOYEE'S
 DEFENSE AND THEREAFTER THE EMPLOYEE FAILS OR REFUSES TO COOPERATE IN THE
 FORMATION  OR PRESENTATION OF HIS OR HER DEFENSE, THE COURT SHALL PERMIT
 THE TRUST TO WITHDRAW ITS REPRESENTATION TEN DAYS AFTER  GIVING  WRITTEN
 NOTICE  TO  THE  EMPLOYEE OF ITS INTENTION TO DISCONTINUE SUCH REPRESEN-
 TATION.
   6. IN THE EVENT THAT THE ACT OR OMISSION UPON WHICH THE COURT PROCEED-
 ING AGAINST THE EMPLOYEE IS BASED WAS OR IS ALSO THE BASIS OF  A  DISCI-
 PLINARY PROCEEDING BY THE TRUST AGAINST THE EMPLOYEE, REPRESENTATION AND
 INDEMNIFICATION BY THE TRUST, AS SET FORTH IN THIS SECTION, MAY BE WITH-
 HELD  (A)  UNTIL SUCH DISCIPLINARY PROCEEDING HAS BEEN RESOLVED, AND (B)
 UNLESS THE RESOLUTION OF  THE  DISCIPLINARY  PROCEEDING  EXONERATED  THE
 EMPLOYEE AS TO SUCH ACT OR OMISSION.
   7.  SUBJECT TO THE CONDITIONS SET FORTH IN THIS SECTION, SUCH EMPLOYEE
 SHALL BE ENTITLED TO REPRESENTATION BY THE GENERAL COUNSEL OF THE  TRUST
 OR  BY  ANY  ATTORNEY  OR  ATTORNEYS  DESIGNATED BY THE GENERAL COUNSEL,
 PROVIDED, HOWEVER, THAT THE EMPLOYEE SHALL BE ENTITLED TO BE REPRESENTED
 BY PRIVATE COUNSEL OF HIS OR HER CHOICE IN ANY CIVIL ACTION OR  PROCEED-
 ING  WHENEVER THE TRUST DETERMINES THAT REPRESENTATION WOULD BE INAPPRO-
 PRIATE, OR WHENEVER A COURT, UPON APPROPRIATE MOTION OR OTHERWISE  BY  A
 SPECIAL  PROCEEDING,  DETERMINES  THAT A CONFLICT OF INTEREST EXISTS AND
 THAT THE EMPLOYEE IS ENTITLED TO BE REPRESENTED BY  PRIVATE  COUNSEL  OF
 THE EMPLOYEE'S CHOICE. THE GENERAL COUNSEL OF THE TRUST SHALL NOTIFY THE
 EMPLOYEE  IN WRITING OF SUCH DETERMINATION THAT THE EMPLOYEE IS ENTITLED
 TO BE REPRESENTED BY PRIVATE COUNSEL. PROVIDED, HOWEVER, THAT THE  TRUST
 MAY  REQUIRE, AS A CONDITION TO PAYMENT OF THE FEES AND EXPENSES OF SUCH
 REPRESENTATION, THAT APPROPRIATE GROUPS OF SUCH EMPLOYEES BE REPRESENTED
 BY THE SAME COUNSEL. REASONABLE ATTORNEYS' FEES AND LITIGATION  EXPENSES
 SHALL  BE  PAID  BY  THE TRUST TO SUCH PRIVATE COUNSEL FROM TIME TO TIME
 DURING THE PENDENCY OF A CIVIL ACTION OR PROCEEDING.
 A. 7805--B                         26

   8. ANY DISPUTE WITH RESPECT TO REPRESENTATION OF MULTIPLE EMPLOYEES BY
 A SINGLE COUNSEL OR THE REASONABLENESS OF ATTORNEYS' FEES OR THE  AMOUNT
 OF  LITIGATION EXPENSES SHALL BE RESOLVED BY THE COURT UPON MOTION OR BY
 WAY OF A SPECIAL PROCEEDING.
   9.  THE  BENEFITS  OF  THIS  SECTION  SHALL INURE ONLY TO EMPLOYEES AS
 DEFINED IN THIS SECTION AND SHALL NOT ENLARGE OR DIMINISH THE RIGHTS  OF
 ANY  OTHER PARTY NOR SHALL ANY PROVISION OF THIS SECTION BE CONSTRUED TO
 AFFECT, ALTER OR REPEAL ANY PROVISION OF THE WORKERS' COMPENSATION LAW.
   10. THE PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN  ANY  WAY
 TO  IMPAIR,  ALTER,  LIMIT  OR  MODIFY THE RIGHTS AND OBLIGATIONS OF ANY
 INSURER UNDER ANY POLICY OF INSURANCE.
   11. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED  IN  THIS  SECTION,  THE
 PROVISIONS  OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY TO IMPAIR,
 ALTER, LIMIT, MODIFY, ABROGATE OR RESTRICT ANY IMMUNITY AVAILABLE TO  OR
 CONFERRED  UPON  ANY  UNIT,  ENTITY,  MEMBER, OFFICER OR EMPLOYEE OF THE
 TRUST, OR ANY RIGHT TO  DEFENSE  OR  INDEMNIFICATION  PROVIDED  FOR  ANY
 MEMBER, OFFICER OR EMPLOYEE BY, IN ACCORDANCE WITH, OR BY REASON OF, ANY
 OTHER PROVISION OF STATE, FEDERAL OR LOCAL LAW OR COMMON LAW.
   12.  EVERY  ACTION OR PROCEEDING INSTITUTED PURSUANT TO THE PROVISIONS
 OF THIS SECTION SHALL BE  COMMENCED  PURSUANT  TO  SECTION  SIX  HUNDRED
 FORTY-TWO  OF  THIS  ARTICLE, AND SUBJECT TO ANY CONDITION OR LIMITATION
 SET FORTH IN SUCH SECTION.
   13. THE PROVISIONS OF THIS SECTION SHALL  APPLY  TO  THE  ACTIONS  AND
 PROCEEDINGS SET FORTH HEREIN NOTWITHSTANDING ANY INCONSISTENT PROVISIONS
 OF STATE OR LOCAL LAW.
   §  647.  AUDIT  AND  ANNUAL  REPORTS. THE TRUST SHALL HAVE AN INTERNAL
 AUDIT FUNCTION AND SHALL ANNUALLY PREPARE AND SUBMIT REPORTS AS REQUIRED
 BY THIS SECTION, PROVIDED THAT NO REPORT SHALL BE  REQUIRED  DURING  THE
 EARLIER  OF  THE  FIRST YEAR AFTER THE TRUST COMMENCES ITS OPERATIONS OR
 ONE YEAR AND NINE MONTHS AFTER THE EFFECTIVE DATE OF THIS SECTION.
   1. WITHIN ONE ONE HUNDRED TWENTY DAYS OF THE END OF THE CITY'S  FISCAL
 YEAR,  THE  TRUST  SHALL SUBMIT TO THE MAYOR OF THE CITY, THE RECOGNIZED
 CITYWIDE COUNCIL OF PRESIDENTS, OR AN EQUIVALENT SUCCESSOR BODY, AND THE
 NYCHA BOARD A REPORT ON ITS OPERATIONS DURING SUCH FISCAL YEAR. AN ANNU-
 AL AUDIT OF THE TRUST SHALL BE CONDUCTED  BY  AN  INDEPENDENT  CERTIFIED
 PUBLIC  ACCOUNTANT,  AND  THE  TRUST'S  INDEPENDENTLY  AUDITED FINANCIAL
 STATEMENTS SHALL BE INCLUDED IN  THIS  REPORT.  THE  REPORT  SHALL  ALSO
 DETAIL THE EXTENT OF COMPLETION OF ALL PROJECTS FOR DEVELOPMENT, DESIGN,
 CONSTRUCTION, RECONSTRUCTION, IMPROVEMENT, REHABILITATION, REPAIRING AND
 OPERATION  OF  HOUSING  FACILITIES,  INCLUDING,  BY  PROJECT, IDENTIFIED
 SHORTFALLS IN SCHEDULE PERFORMANCE AND PROVIDING  EXPLANATION  FOR  SUCH
 SHORTFALLS. SUCH REPORT SHALL DETAIL THE EXTENT OF COMPLETION AS EXISTED
 ON  THE  LAST  DAY  OF  THE  CITY'S  FISCAL YEAR. SUCH REPORT SHALL ALSO
 INCLUDE A DESCRIPTION OF EACH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT,
 INFORMATION  REGARDING THE PROCUREMENT PROCESS FOR EACH SUCH ALTERNATIVE
 PROJECT DELIVERY CONTRACT INCLUDING THE LIST OF RESPONDING ENTITIES THAT
 DEMONSTRATED THE GENERAL CAPABILITY TO PERFORM SUCH ALTERNATIVE  PROJECT
 DELIVERY  CONTRACT  PURSUANT  TO  PARAGRAPH  (A)  OF  SUBDIVISION ONE OF
 SECTION SIX HUNDRED THIRTY-FIVE OF THIS ARTICLE, THE TOTAL COST OF  EACH
 ALTERNATIVE  PROJECT  DELIVERY CONTRACT, AN EXPLANATION OF THE ESTIMATED
 SAVINGS ATTRIBUTABLE FROM  THE  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT
 STRUCTURE  USED, AND THE PARTICIPATION RATE OF AND TOTAL DOLLAR VALUE OF
 MONIES PAID TO MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES UNDER  SUCH
 CONTRACT. SUCH REPORT SHALL ALSO INCLUDE A DESCRIPTION OF THE EMPLOYMENT
 AND  OTHER  ECONOMIC  OPPORTUNITIES DIRECTED TO RESIDENTS OF THE HOUSING
 FACILITIES, SUCH AS REPORTING RELATED TO SECTION THREE  OF  THE  HOUSING
 A. 7805--B                         27
 
 AND  URBAN  DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED,
 PURSUANT TO SUBDIVISION THREE OF SECTION SIX HUNDRED THIRTY-TWO OF  THIS
 ARTICLE.  SUCH REPORT SHALL ALSO INCLUDE (I) AN ASSESSMENT OF THE EFFEC-
 TIVENESS  OF  INTERNAL  CONTROLS,  (II) ORGANIZATION CHART, (III) SALARY
 INFORMATION FOR ALL EMPLOYEES, (IV) DEBT ISSUANCE INFORMATION (INCLUDING
 OUTSTANDING DEBT AND ANY NEW DEBT TO BE ISSUED, COSTS OF ISSUANCE  DATA,
 BONDS  REDEEMED),  (V)  CERTAIN SUMMARY FINANCIAL INFORMATION, INCLUDING
 RECEIPTS AND DISBURSEMENTS, AS WELL  AS  ASSETS  AND  LIABILITIES,  (VI)
 ANNUAL PROCUREMENT REPORT, (VII) INVESTMENT OF AGENCY FUNDS INFORMATION,
 (VIII) INFORMATION REGARDING THE DISPOSITION OF TENANT COMPLAINTS, MAIN-
 TENANCE  OF  APARTMENTS AND FACILITIES, AND OTHER INFORMATION PERTAINING
 TO THE RIGHTS OF TENANTS TO REMAIN IN THEIR APARTMENT; AND (IX) INFORMA-
 TION REGARDING THE LEVEL OF OUTREACH TO, AND PARTICIPATION OF, RESIDENTS
 RELATED TO THE TRUST.   THE TRUST SHALL TRANSMIT  THE  PORTION  OF  SUCH
 REPORT  RELATING TO ALTERNATIVE PROJECT DELIVERY CONTRACTS TO THE GOVER-
 NOR, THE TEMPORARY PRESIDENT OF THE SENATE AND THE SPEAKER OF THE ASSEM-
 BLY.  SUCH REPORT SHALL BE MADE PUBLICLY AVAILABLE.
   2. ON THE LAST BUSINESS DAY IN NOVEMBER OF  EACH  CALENDAR  YEAR,  THE
 TRUST  SHALL SUBMIT A REPORT DESCRIBING ITS STRATEGIC PLANNING FRAMEWORK
 FOR THE UPCOMING CALENDAR YEAR TO THE MAYOR OF THE CITY AND TO THE NYCHA
 BOARD. SUCH REPORT SHALL DESCRIBE ANY CAPITAL IMPROVEMENTS TO BE  UNDER-
 TAKEN  AND  THE APPROXIMATE COSTS OF SUCH IMPROVEMENTS AND SHALL PROVIDE
 INFORMATION REGARDING OPERATIONS, PROGRAMS, AND SERVICES OF  THE  TRUST.
 THE TRUST SHALL PRESENT A DRAFT OF THIS REPORT AT A MEETING OF THE BOARD
 SCHEDULED  TO  OCCUR  NO LESS THAN FORTY-FIVE CALENDAR DAYS PRIOR TO THE
 LAST BUSINESS DAY IN NOVEMBER. THE TRUST SHALL MAKE SUCH DRAFT AVAILABLE
 FOR PUBLIC REVIEW NO LESS THAN FIFTEEN CALENDAR DAYS BEFORE  SUCH  MEET-
 ING.  THE  TRUST  SHALL  OFFER THE PUBLIC AN OPPORTUNITY TO PROVIDE ORAL
 COMMENT ON THE REPORT AT SUCH MEETING AND TO SUBMIT WRITTEN COMMENTS  TO
 THE  TRUST  UNTIL A SPECIFIED DATE PRIOR TO THE DATE ON WHICH THE REPORT
 IS FINALIZED. THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED DURING SUCH
 PERIOD PRIOR TO FINALIZING THE REPORT REQUIRED BY THIS SUBDIVISION.
   § 648. JURISDICTION OVER TRUST. 1. THE TRUST SHALL  NOT  BE  DEEMED  A
 "COVERED  ORGANIZATION" AS DEFINED IN THE NEW YORK STATE FINANCIAL EMER-
 GENCY ACT FOR THE CITY OF NEW YORK.
   2. THE DEPARTMENT OF INVESTIGATION OF THE CITY SHALL BE AUTHORIZED  TO
 CONDUCT  INVESTIGATIONS  RELATING TO THE TRUST PURSUANT TO CHAPTER THIR-
 TY-FOUR OF THE NEW YORK CITY CHARTER.
   3. THE COMPTROLLER OF THE CITY,  OR  HIS  OR  HER  LEGALLY  AUTHORIZED
 REPRESENTATIVE,  IS HEREBY AUTHORIZED AND EMPOWERED FROM TIME TO TIME TO
 EXAMINE THE BOOKS AND ACCOUNTS OF  THE  TRUST  INCLUDING  ITS  RECEIPTS,
 DISBURSEMENTS, CONTRACTS, RESERVE FUNDS, SINKING FUNDS, INVESTMENTS, AND
 ANY OTHER MATTERS RELATING TO ITS FINANCIAL STANDING.
   4.  THE  TRUST  SHALL  NOT  BE  DEEMED A "LOCAL AUTHORITY" OR A "STATE
 AUTHORITY" FOR PURPOSES OF THE PUBLIC AUTHORITIES  LAW,  AND  SHALL  NOT
 OTHERWISE  BE  SUBJECT  TO PROVISIONS OF SUCH LAW WITH RESPECT TO PUBLIC
 AUTHORITIES, EXCEPT AS MAY BE SPECIFICALLY PROVIDED FOR BY THIS ARTICLE.
   § 649. EFFECT OF INCONSISTENT PROVISIONS. INSOFAR AS THE PROVISIONS OF
 THIS ARTICLE ARE INCONSISTENT WITH THE  PROVISIONS  OF  ANY  OTHER  LAW,
 GENERAL,  SPECIAL  OR LOCAL OR OF THE NEW YORK CITY CHARTER OR ANY LOCAL
 LAW, ORDINANCE OR RESOLUTION OF THE CITY, THE PROVISION OF THIS  ARTICLE
 SHALL  BE  CONTROLLING,  PROVIDED THAT NOTHING CONTAINED IN THIS SECTION
 SHALL BE HELD TO SUPPLEMENT OR OTHERWISE EXPAND THE POWERS OR DUTIES  OF
 THE TRUST OTHERWISE SET FORTH IN THIS ARTICLE.
   §  650. SEVERABILITY. IF ANY PROVISION OF THIS ARTICLE OR ITS APPLICA-
 TION TO ANY PERSON OR CIRCUMSTANCE IS HELD UNCONSTITUTIONAL OR  INVALID,
 A. 7805--B                         28

 IN  WHOLE  OR IN PART, BY ANY COURT, SUCH HOLDING OF UNCONSTITUTIONALITY
 OR INVALIDITY SHALL IN NO WAY AFFECT OR IMPAIR ANY  OTHER  PROVISION  OF
 THIS  ARTICLE  OR  THE  APPLICATION  OF  ANY SUCH PROVISION TO ANY OTHER
 PERSON  OR  CIRCUMSTANCE, AND TO THIS END THE PROVISIONS OF THIS ARTICLE
 ARE SEVERABLE.
   § 2. Paragraph b of subdivision 3 of section 13-101 of the administra-
 tive code of the city of New York, as amended by chapter 16 of the  laws
 of 1997, is amended to read as follows:
   b.  Service as a paid employee of the triborough bridge authority, the
 Henry Hudson parkway authority, the Marine parkway  authority,  the  New
 York city tunnel authority, the New York city parkway authority, the New
 York  city housing authority, THE NEW YORK CITY PUBLIC HOUSING PRESERVA-
 TION TRUST, the triborough bridge and tunnel  authority,  the  New  York
 city  transit  authority,  the  New York city housing development corpo-
 ration, the New York city health and hospitals corporation, the New York
 city  off-track  betting  corporation,  the   New   York   city   school
 construction  authority,  the  New  York  city  municipal  water finance
 authority, the New York city water board, the transit construction fund,
 the New York city transitional finance  authority,  the  New  York  city
 sports authority and the New York city rehabilitation mortgage insurance
 corporation shall constitute city-service as herein defined.
   § 3. Paragraph 1 of subdivision c of section 13-133 of the administra-
 tive  code of the city of New York, subparagraph (C) as added by chapter
 738 of the laws of 1988, subparagraphs (D) and (E) as added  by  chapter
 609  of the laws of 1995, subparagraph (F) as added by chapter 16 of the
 laws of 1997, and subparagraph (G) as added by chapter 3 of the laws  of
 2013, is amended to read as follows:
   (1)  (A)  The comptroller shall make monthly payments, in twelve equal
 installments, with respect to obligations which the city incurs  to  pay
 sums to the retirement system.
   (B)  The  New  York  city  health and hospitals corporation shall make
 monthly payments, in twelve equal installments, with  respect  to  obli-
 gations which it incurs to pay sums to the retirement system.
   (C) The New York city school construction authority shall make monthly
 payments,  in  twelve  equal  installments,  with respect to obligations
 which it incurs to pay sums to the retirement system.
   (D) The New York city municipal water  finance  authority  shall  make
 monthly  payments,  in  twelve equal installments, with respect to obli-
 gations, if any, which it incurs to pay sums to the retirement system.
   (E) The New York city water board  shall  make  monthly  payments,  in
 twelve equal installments, with respect to obligations, if any, which it
 incurs to pay sums to the retirement system.
   (F) The New York city transitional finance authority shall make month-
 ly  payments,  in twelve equal installments, with respect to obligations
 which it incurs to pay sums to the retirement system.
   (G) THE NEW YORK CITY PUBLIC HOUSING  PRESERVATION  TRUST  SHALL  MAKE
 MONTHLY  PAYMENTS,  IN  TWELVE EQUAL INSTALLMENTS, WITH RESPECT TO OBLI-
 GATIONS WHICH IT INCURS TO PAY SUMS TO THE RETIREMENT SYSTEM.
   (H) Where a responsible obligor (as defined in paragraph ten of subdi-
 vision a of section 13-638.2 of this title) is required to make payments
 to the retirement system pursuant to applicable  provisions  of  law  in
 fiscal  year  two  thousand  twelve--two  thousand  thirteen, and in any
 fiscal year thereafter, and the provisions of this  subdivision  or  the
 provisions  of  any  other  applicable law do not otherwise specifically
 require such responsible obligor to make such payments by  a  particular
 date  or  dates  during such fiscal year, such responsible obligor shall
 A. 7805--B                         29
 
 make such payments either (i) in total on or  before  January  first  of
 such  fiscal  year,  or  (ii)  in  twelve equal monthly installments, as
 determined by the actuary, with each monthly installment to be  paid  on
 or before the last day of each month.
   §  4.  This  act  shall take effect on the sixtieth day after it shall
 have become a law. Provided that any public officer or employee, includ-
 ing but not limited to the mayor of the city of New York and  the  chief
 executive  officer of the New York city housing authority, is authorized
 to take any action that is necessary for the  timely  implementation  of
 this act prior to its effective date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7805--D
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 21, 2021
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ,  FALL, BENEDETTO, BURDICK, COOK,
   TAPIA, J. RIVERA, SEAWRIGHT, DINOWITZ, EICHENSTEIN, DAVILA,  D. ROSEN-
   THAL,  HYNDMAN,  HEVESI,  TAYLOR,  NOLAN,  COLTON,  BICHOTTE HERMELYN,
   WILLIAMS, CARROLL, RAJKUMAR -- read once and referred to the Committee
   on Housing -- recommitted to the Committee on  Housing  in  accordance
   with  Assembly  Rule  3, sec. 2 -- committee discharged, bill amended,
   ordered reprinted as amended and  recommitted  to  said  committee  --
   again  reported from said committee with amendments, ordered reprinted
   as amended and recommitted to said committee -- reported and  referred
   to  the  Committee  on  Codes  --  committee discharged, bill amended,
   ordered reprinted as amended and  recommitted  to  said  committee  --
   reported  and referred to the Committee on Ways and Means -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the public housing law and the  administrative  code  of
   the  city  of  New York, in relation to establishing the New York city
   public housing preservation trust for properties owned or operated  by
   the  New York city housing authority and providing for the issuance of
   certain bonds, notes or other obligations of the New York city housing
   development corporation
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The public housing law is amended by adding a new article
 15 to read as follows:
                                ARTICLE XV
              NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST
 
 SECTION 625. SHORT TITLE.
         626. LEGISLATIVE FINDINGS.
         627. DEFINITIONS.
         628. NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11275-23-2
              

 A. 7805--D                          2
 
         629. POWERS AND DUTIES OF THE TRUST.
         630. TRANSFER OF PROPERTY.
         631. RESIDENT PROTECTIONS AND OPPORTUNITIES.
         632. COMPLIANCE WITH CODES.
         633. CONTRACTS OF THE TRUST.
         634. ALTERNATIVE PROJECT DELIVERY CONTRACTS.
         635. ADDITIONAL AUTHORITY.
         636. ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE PROJECT DELIVERY
                CONTRACTS.
         637. BORROWING BY THE TRUST AND  FOR  ITS  BENEFIT;  EFFECTS  OF
                CERTAIN DEFAULTS.
         638. RESOURCES OF THE TRUST.
         639. LEGAL INVESTMENT AND DEPOSIT.
         640. TAX EXEMPTION AND TAX CONTRACT BY THE STATE.
         641. ACTIONS AGAINST THE TRUST.
         642. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP.
         643. COLLECTIVE NEGOTIATION.
         644. APPLICATION OF STATE AND LOCAL HUMAN RIGHTS LAWS.
         645. LIMITED LIABILITY.
         646. AUDIT AND ANNUAL REPORTS.
         647. JURISDICTION OVER TRUST.
         648. EFFECT OF INCONSISTENT PROVISIONS.
         649. SEVERABILITY.
 
   §  625.  SHORT  TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
 THE "NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST ACT".
   § 626. LEGISLATIVE FINDINGS. THE LEGISLATURE HEREBY FINDS AND DECLARES
 THAT SIGNIFICANT CAPITAL INVESTMENT  IS  REQUIRED  TO  DESIGN,  DEVELOP,
 CONSTRUCT, RECONSTRUCT, IMPROVE, MODERNIZE, REHABILITATE, AND REPAIR THE
 AGING BUILDINGS OWNED OR OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY
 WHICH  ARE  DETERIORATING  DUE TO DECADES OF DIMINISHING CAPITAL INVEST-
 MENT. RESTRICTIONS RELATING TO THE NEW  YORK  CITY  HOUSING  AUTHORITY'S
 CONSTRUCTION  PROCESS,  AND  ITS INABILITY TO UTILIZE INNOVATIVE PROJECT
 DELIVERY METHODS, HAVE EXACERBATED ITS CAPITAL NEEDS. A NEW PUBLIC ENTI-
 TY WITH GREATER FLEXIBILITY TO LEVERAGE CAPITAL INVESTMENT AND TO MANAGE
 THE REHABILITATION OF THESE PROPERTIES MUST BE ESTABLISHED.   REPAIRING,
 MODERNIZING,  AND  IMPROVING  NEW  YORK CITY HOUSING AUTHORITY BUILDINGS
 MUST BEGIN IMMEDIATELY SO THAT HUNDREDS OF THOUSANDS OF NEW YORKERS  CAN
 RESIDE IN AFFORDABLE HOUSING THAT IS DECENT, SAFE, SANITARY, AND IN GOOD
 REPAIR.   ESTABLISHING A NEW PUBLIC ENTITY, AND TRANSFERRING A LEASEHOLD
 INTEREST IN THE BUILDINGS OWNED AND OPERATED BY THE NEW YORK CITY  HOUS-
 ING  AUTHORITY TO THIS NEW ENTITY SO THAT THEY CAN UNDERGO THE NECESSARY
 REHABILITATION, REPAIR AND MODERNIZATION, WILL ENSURE THAT THESE  BUILD-
 INGS  CONTINUE  TO  PROVIDE  AFFORDABLE HOUSING TO RESIDENTS OF NEW YORK
 CITY FOR MANY DECADES INTO THE  FUTURE.  IT  IS  THE  UNDERSTANDING  AND
 INTENTION  OF  THE LEGISLATURE THAT ANY BUILDING TRANSFERRED TO THIS NEW
 PUBLIC ENTITY AND OPERATED BY THE NEW YORK CITY HOUSING AUTHORITY  SHALL
 CONTINUE TO BE SUBJECT TO THE OBLIGATIONS IMPOSED BY MARIBEL BAEZ ET AL.
 V. NEW YORK CITY HOUSING AUTHORITY, NO. 13-CIV-8916.
   § 627. DEFINITIONS. AS USED OR REFERRED TO IN THIS ARTICLE:
   1.  "ALTERNATIVE PROJECT DELIVERY CONTRACT" MEANS ANY PROJECT DELIVERY
 METHOD AUTHORIZED BY THIS ARTICLE, INCLUDING CONSTRUCTION MANAGER BUILD,
 CONSTRUCTION MANAGER AT RISK, AND DESIGN-BUILD, PURSUANT TO WHICH ONE OR
 MORE CONTRACTS FOR THE PROVISION OF DESIGN  OR  CONSTRUCTION  MANAGEMENT
 AND  CONSTRUCTION  SERVICES  ARE AWARDED PURSUANT TO AN OPEN AND COMPET-
 A. 7805--D                          3

 ITIVE METHOD OF PROCUREMENT, AS SPECIFIED IN SECTION SIX  HUNDRED  THIR-
 TY-FOUR OF THIS ARTICLE.
   2. "BEST VALUE" MEANS THE BASIS FOR AWARDING CONTRACTS FOR SERVICES TO
 A  PROPOSER  THAT  OPTIMIZES  QUALITY,  COST  AND  EFFICIENCY, PRICE AND
 PERFORMANCE CRITERIA, WHICH MAY INCLUDE, BUT IS NOT LIMITED TO:
   (A) THE QUALITY OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (B) THE TIMELINESS OF THE PROPOSER'S PERFORMANCE ON PREVIOUS PROJECTS;
   (C) THE LEVEL OF CUSTOMER SATISFACTION WITH THE PROPOSER'S PERFORMANCE
 ON PREVIOUS PROJECTS;
   (D) THE PROPOSER'S RECORD OF PERFORMING PREVIOUS  PROJECTS  ON  BUDGET
 AND ABILITY TO MINIMIZE COST OVERRUNS;
   (E) THE PROPOSER'S ABILITY TO LIMIT CHANGE ORDERS;
   (F) THE PROPOSER'S ABILITY TO PREPARE APPROPRIATE PROJECT PLANS;
   (G) THE PROPOSER'S TECHNICAL CAPACITIES;
   (H) THE INDIVIDUAL QUALIFICATIONS OF THE PROPOSER'S KEY PERSONNEL;
   (I) THE PROPOSER'S ABILITY TO ASSESS AND MANAGE RISK AND MINIMIZE RISK
 IMPACT;
   (J) THE PROPOSER'S FINANCIAL CAPABILITY;
   (K)  THE  PROPOSER'S  ABILITY  TO COMPLY WITH APPLICABLE REQUIREMENTS,
 INCLUDING THE PROVISIONS OF ARTICLES ONE HUNDRED FORTY-FIVE, ONE HUNDRED
 FORTY-SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW;
   (L) THE PROPOSER'S PAST RECORD OF COMPLIANCE WITH FEDERAL LAWS,  STATE
 AND  LOCAL  LAWS,  RULES,  LICENSING REQUIREMENTS, WHERE APPLICABLE, AND
 EXECUTIVE ORDERS, INCLUDING, BUT NOT LIMITED TO, SECTION  THREE  OF  THE
 FEDERAL  HOUSING  AND  URBAN  DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-
 EIGHT, AS AMENDED, OR ANY SUCCESSOR PROVISION, ARTICLE FIFTEEN-A OF  THE
 EXECUTIVE  LAW,  ANY  OTHER  APPLICABLE  LAWS  CONCERNING  MINORITY- AND
 WOMEN-OWNED BUSINESS ENTERPRISE PARTICIPATION, THE LABOR  LAW,  AND  ANY
 OTHER APPLICABLE LABOR AND PREVAILING WAGE LAWS;
   (M)  THE PROPOSER'S RECORD OF COMPLYING WITH EXISTING LABOR STANDARDS,
 MAINTAINING HARMONIOUS LABOR RELATIONS, AND PROTECTING  THE  HEALTH  AND
 SAFETY  OF WORKERS AND PAYMENT OF WAGES ABOVE ANY LOCALLY-DEFINED LIVING
 WAGE;
   (N) A QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS  OR  OFFERS
 FOR  AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT ARE CERTIFIED AS
 MINORITY  OR  WOMEN  OWNED  BUSINESS  ENTERPRISES  PURSUANT  TO  ARTICLE
 FIFTEEN-A OF THE EXECUTIVE LAW OR CERTIFIED PURSUANT TO SECTION THIRTEEN
 HUNDRED  FOUR  OF  THE  NEW YORK CITY CHARTER AS MINORITY OR WOMEN OWNED
 BUSINESS ENTERPRISES, OR WHERE THE BIDDER IS A JOINT  VENTURE  INCLUDING
 AT LEAST ONE SUCH CERTIFIED FIRM. WHERE THE TRUST IDENTIFIES A QUANTITA-
 TIVE  FACTOR  PURSUANT  TO  THIS PARAGRAPH, THE TRUST SHALL SPECIFY THAT
 BUSINESSES CERTIFIED AS MINORITY OR  WOMEN  OWNED  BUSINESS  ENTERPRISES
 PURSUANT  TO  ARTICLE  FIFTEEN-A  OF  THE EXECUTIVE LAW AS WELL AS THOSE
 CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT  TO
 SECTION  THIRTEEN  HUNDRED  FOUR  OF THE NEW YORK CITY CHARTER, OR JOINT
 VENTURES INCLUDING AT LEAST ONE SUCH CERTIFIED  FIRM,  ARE  ELIGIBLE  TO
 QUALIFY FOR SUCH FACTOR. NOTHING IN THIS PARAGRAPH SHALL BE CONSTRUED TO
 REQUIRE  THAT  SUCH  BUSINESSES BE CONCURRENTLY CERTIFIED AS MINORITY OR
 WOMEN OWNED BUSINESS ENTERPRISES UNDER SUCH ARTICLE AND SUCH SECTION  TO
 QUALIFY FOR SUCH QUANTITATIVE FACTOR; AND
   (O)  A  QUANTITATIVE FACTOR TO BE USED IN EVALUATION OF BIDS OR OFFERS
 FOR AWARDING OF CONTRACTS FOR BIDDERS OR OFFERORS THAT PROVIDE  ECONOMIC
 OPPORTUNITIES  FOR  LOW  AND  VERY LOW-INCOME PERSONS IN ACCORDANCE WITH
 SECTION THREE OF THE FEDERAL HOUSING AND URBAN DEVELOPMENT ACT OF  NINE-
 TEEN HUNDRED SIXTY-EIGHT, AS AMENDED, WHERE APPLICABLE, OR ANY SUCCESSOR
 A. 7805--D                          4
 
 PROVISION.  SUCH  BASIS  SHALL REFLECT, WHEREVER POSSIBLE, OBJECTIVE AND
 QUANTIFIABLE ANALYSIS.
   3. "BOARD" MEANS THE BOARD OF TRUSTEES OF THE TRUST.
   4. "CITY" MEANS THE CITY OF NEW YORK.
   5.  "CONSTRUCTION  MANAGER  AT  RISK"  MEANS A PROJECT DELIVERY METHOD
 WHEREBY A CONSTRUCTION MANAGER:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
   (B)  DURING  THE  CONSTRUCTION  PHASE,  ACTS AS GENERAL CONTRACTOR FOR
 AGREED UPON COMPENSATION AS SET FORTH IN  THE  CONSTRUCTION  MANAGER  AT
 RISK AGREEMENT; AND
   (C)  ASSUMES THE RISK OF CONSTRUCTION COSTS EXCEEDING AN AMOUNT SPECI-
 FIED IN THE CONSTRUCTION MANAGER AT RISK AGREEMENT.
   6. "CONSTRUCTION MANAGER BUILD" MEANS A PROJECT DELIVERY METHOD WHERE-
 BY A CONSTRUCTION MANAGER, FOLLOWING A DECLARATION OF A DISASTER BY  THE
 GOVERNOR OR STATE OF EMERGENCY BY THE MAYOR PURSUANT TO ARTICLE TWO-B OF
 THE  EXECUTIVE  LAW  OR CHAPTER ONE OF TITLE THREE OF THE ADMINISTRATIVE
 CODE OF THE CITY OF NEW YORK, OR FOLLOWING AN INDEPENDENT COST  ESTIMATE
 AND A CONCURRENCE BY NYCHA THAT CONSTRUCTION WORK IS REQUIRED AT A HOUS-
 ING  FACILITY  TO  REMEDY  DEFECTS  TO  BRING  THE HOUSING FACILITY INTO
 DECENT, SAFE, AND SANITARY CONDITION:
   (A) SERVES AS PART OF A TEAM IN CONJUNCTION  WITH  THE  OWNER  IN  THE
 DESIGN PHASE OF THE PROJECT;
   (B)  UNDER  THE  OVERSIGHT  OF  THE OWNER ACTS AS THE SINGLE SOURCE OF
 RESPONSIBILITY TO BID, SELECT AND HOLD CONSTRUCTION CONTRACTS ON  BEHALF
 OF THE OWNER DURING THE CONSTRUCTION PHASE; AND
   (C) MANAGES THE CONSTRUCTION PROJECT ON BEHALF OF THE OWNER.
   7.  "COST  PLUS"  MEANS  COMPENSATING  A  CONTRACTOR  FOR  THE COST TO
 COMPLETE A CONTRACT BY REIMBURSING ACTUAL COSTS FOR LABOR, EQUIPMENT AND
 MATERIALS PLUS AN ADDITIONAL AMOUNT FOR OVERHEAD AND PROFIT.
   8. "DESIGN-BUILD" MEANS A PROJECT DELIVERY METHOD FOR THE  DESIGN  AND
 CONSTRUCTION  OF  A  PROJECT  WITH  A SINGLE ENTITY, WHICH MAY BE A TEAM
 COMPRISED OF SEPARATE ENTITIES.
   9. "GROUND LEASE" MEANS THE WRITTEN INSTRUMENT PURSUANT TO WHICH NYCHA
 TRANSFERS TO THE TRUST ITS LEASEHOLD INTEREST IN ITS HOUSING  FACILITIES
 AND ANCILLARY PERSONAL PROPERTY.
   10. "HOUSING FACILITIES" MEANS THE LAND AND BUILDINGS THEREON OWNED OR
 OPERATED  BY  NYCHA AND THE IMPROVEMENTS MADE TO SUCH LAND AND BUILDINGS
 FOR USE IN CONNECTION WITH DEVELOPMENT OR OPERATION OF DWELLING ACCOMMO-
 DATIONS FOR LOW-INCOME FAMILIES.
   11. "LOW-INCOME FAMILIES" MEANS LOW-, VERY LOW-, AND EXTREMELY LOW-IN-
 COME FAMILIES AS DEFINED IN PARAGRAPH TWO OF SUBSECTION (B)  OF  SECTION
 1437A  OF  TITLE  FORTY-TWO  OF  THE UNITED STATES CODE OR ANY SUCCESSOR
 PROVISION.
   12. "MAYOR" MEANS THE MAYOR OF THE CITY OF NEW YORK.
   13. "NYCHA" MEANS THE NEW YORK CITY HOUSING AUTHORITY.
   14. "NYCHA BOARD" MEANS THE MEMBERS OF  NYCHA  APPOINTED  PURSUANT  TO
 SUBDIVISION THREE OF SECTION FOUR HUNDRED TWO OF THIS CHAPTER.
   15.  "NYCHA CEO" MEANS THE CHIEF EXECUTIVE OFFICER OF NYCHA WHO SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   16. "NYCHA CFO" MEANS THE CHIEF FINANCIAL OFFICER OF NYCHA WHO  SERVES
 PURSUANT TO NYCHA'S BY-LAWS.
   17. "OTHER RESIDENTS" MEANS RESIDENTS WHO ARE:
   (A)  RESIDENTS  OF A HOUSING FACILITY ON THE DATE NYCHA TRANSFERS SUCH
 FACILITY TO THE TRUST BUT ARE NOT LOW-INCOME  FAMILIES,  AS  DEFINED  IN
 THIS SECTION, ON THE DATE OF SUCH TRANSFER;
 A. 7805--D                          5
 
   (B)  LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, AND RESIDENTS OF
 A HOUSING FACILITY ON THE DATE NYCHA  TRANSFERS  SUCH  FACILITY  TO  THE
 TRUST  BUT WHO, SUBSEQUENT TO SUCH TRANSFER AND DURING THE COURSE OF THE
 TENANCIES OF SUCH RESIDENTS, NO LONGER SATISFY THE DEFINITION OF LOW-IN-
 COME FAMILIES; OR
   (C) LOW-INCOME FAMILIES, AS DEFINED IN THIS SECTION, UPON COMMENCEMENT
 OF  THEIR TENANCIES IN A HOUSING FACILITY OPERATED BY THE TRUST BUT WHO,
 DURING THE COURSE OF THE TENANCIES OF SUCH RESIDENTS, DO NOT SATISFY THE
 DEFINITION OF LOW-INCOME FAMILIES.
   18. "PROJECT LABOR AGREEMENT" SHALL HAVE THE SAME MEANING AS DESCRIBED
 IN SECTION TWO HUNDRED TWENTY-TWO OF THE LABOR LAW.
   19. "RESIDENT" MEANS A NATURAL PERSON WHOSE LAWFUL  PRIMARY  RESIDENCE
 IS A DWELLING UNIT IN A HOUSING FACILITY.
   20. "TRUST" MEANS THE NEW YORK CITY PUBLIC HOUSING PRESERVATION TRUST.
   21.  "VOTING  PROCESS" MEANS THE PROCESS THAT SHALL BE UNDERTAKEN AT A
 PARTICULAR HOUSING FACILITY  BEFORE  THE  TRUST  MAY  TRANSFER,  CONVEY,
 ASSIGN,  MORTGAGE,  PLEDGE  OR  OTHERWISE  ENCUMBER  ANY INTEREST IN, OR
 PERMIT OR SUFFER ANY TRANSFER, CONVEYANCE, ASSIGNMENT, MORTGAGE,  PLEDGE
 OR  OTHER  ENCUMBRANCE  OF  ANY  INTEREST  IN SUCH HOUSING FACILITY. THE
 VOTING PROCESS SHALL BE FURTHER DEFINED AS  SET  FORTH  IN  REQUIREMENTS
 PROMULGATED PURSUANT TO SECTION SIX HUNDRED THIRTY OF THIS ARTICLE.
   §  628.  NEW  YORK CITY PUBLIC HOUSING PRESERVATION TRUST. 1. THERE IS
 HEREBY ESTABLISHED A PUBLIC BENEFIT CORPORATION TO BE KNOWN AS THE  "NEW
 YORK  CITY PUBLIC HOUSING PRESERVATION TRUST". THE PURPOSE OF SUCH TRUST
 SHALL BE THE DESIGN, DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION, IMPROVE-
 MENT, MODERNIZATION, REHABILITATION, REPAIRING AND OPERATION OF  HOUSING
 FACILITIES.
   2. THE TRUST SHALL BE GOVERNED BY AND ITS POWERS SHALL BE EXERCISED BY
 A BOARD OF TRUSTEES CONSISTING OF NINE MEMBERS. THE MEMBERS SHALL BE THE
 NYCHA  CEO,  THE  NYCHA  CFO,  THE DEPUTY MAYOR FOR HOUSING AND ECONOMIC
 DEVELOPMENT OF THE CITY OF NEW YORK, OR ANOTHER DEPUTY MAYOR  DESIGNATED
 BY  THE  MAYOR  IF THERE IS NO DEPUTY MAYOR WITH THAT DESIGNATION, THREE
 MEMBERS APPOINTED BY THE NYCHA CEO, INCLUDING TWO HOUSING FACILITY RESI-
 DENT MEMBERS AND ONE MEMBER AT LARGE, PROVIDED  THAT  ONE  SUCH  HOUSING
 FACILITY RESIDENT MEMBER SHALL BE SELECTED FROM TWO CANDIDATES NOMINATED
 BY  THE  RECOGNIZED  CITYWIDE  COUNCIL  OF  PRESIDENTS, OR AN EQUIVALENT
 SUCCESSOR BODY, AND ONE SUCH HOUSING FACILITY RESIDENT MEMBER  SHALL  BE
 SELECTED  FROM  TWO CANDIDATES NOMINATED BY THE RESIDENT ADVISORY BOARD,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  THREE  MEMBERS  APPOINTED  BY  THE
 MAYOR,  INCLUDING  TWO  HOUSING FACILITY RESIDENT MEMBERS, PROVIDED THAT
 ONE SUCH HOUSING FACILITY RESIDENT MEMBER SHALL  BE  SELECTED  FROM  TWO
 CANDIDATES  NOMINATED  BY THE RECOGNIZED CITYWIDE COUNCIL OF PRESIDENTS,
 OR AN EQUIVALENT SUCCESSOR BODY, AND  ONE  MEMBER  WHO  SHALL  REPRESENT
 EMPLOYEES  OF  NYCHA, AS APPLICABLE, AND BE SELECTED FROM TWO CANDIDATES
 NOMINATED BY ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA OR THE TRUST,
 AS APPLICABLE.  THE NYCHA CEO SHALL BE THE CHAIR  OF  THE  TRUST.    THE
 BOARD OF TRUSTEES OF THE TRUST SHALL APPOINT THE PRESIDENT OF THE TRUST.
 THE  TERM  OF EACH MEMBER, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS, SHALL BE THREE YEARS, EXCEPT AT INITIAL APPOINTMENT WHEN  THE
 TERMS  SHALL  BE  STAGGERED  SO THAT NO MORE THAN TWO MEMBERS SHALL HAVE
 TERMS THAT END IN ANY GIVEN YEAR, PROVIDED THAT THE  TERM  OF  ONLY  ONE
 MEMBER APPOINTED BY THE MAYOR SHALL END IN ANY GIVEN YEAR.
   3.  EACH  APPOINTED  MEMBER SHALL CONTINUE IN OFFICE UNTIL A SUCCESSOR
 HAS BEEN APPOINTED AND QUALIFIED UNLESS OTHERWISE REMOVED AS FOLLOWS.  A
 MEMBER  MAY  BE  REMOVED  BY THE NYCHA CEO OR MAYOR, WHICHEVER APPOINTED
 SUCH MEMBER, UPON THE FILING IN THE OFFICE OF THE TRUST AND SERVING UPON
 A. 7805--D                          6
 
 THE MEMBER THE REASONS  THEREFOR.    SUCH  DOCUMENT  SETTING  FORTH  THE
 REASONS  SHALL  BE  MADE  AVAILABLE  TO  THE  GENERAL PUBLIC WHICH SHALL
 INCLUDE, BUT NOT BE LIMITED TO, PUBLISHING SUCH REASONS ON THE  WEBSITES
 OF  THE  TRUST AND NYCHA. IN THE EVENT A VACANCY OCCURS IN THE OFFICE OF
 AN APPOINTED MEMBER, THE VACANCY SHALL BE FILLED IN THE SAME  MANNER  AS
 WAS THE ORIGINAL APPOINTMENT OF THE MEMBER WHOSE OFFICE BECAME VACANT.
   4. APPOINTED MEMBERS MAY ENGAGE IN PRIVATE EMPLOYMENT, OR IN A PROFES-
 SION  OR  BUSINESS,  UNLESS  OTHERWISE  PROHIBITED BY LAW, RULE OR REGU-
 LATION, PROVIDED, HOWEVER, THAT NOTWITHSTANDING ANY APPLICABLE PROVISION
 OF LAW, THE MEMBERS SHALL BE SUBJECT TO  THE  LIMITATIONS  CONTAINED  IN
 SECTIONS  TWO THOUSAND SIX HUNDRED THREE, TWO THOUSAND SIX HUNDRED FOUR,
 TWO THOUSAND SIX HUNDRED FIVE, AND TWO THOUSAND SIX HUNDRED SIX  OF  THE
 NEW  YORK  CITY  CHARTER.  THE TRUST SHALL BE AN AGENCY AND SUCH MEMBERS
 SHALL BE PUBLIC SERVANTS FOR THE PURPOSES OF SUCH SECTIONS. IN ADDITION,
 SUCH MEMBERS SHALL BE SUBJECT TO THE PROVISIONS OF SECTION ONE  THOUSAND
 ONE  HUNDRED  SIXTEEN  OF  THE  NEW  YORK CITY CHARTER AND SHALL FOR THE
 PURPOSES OF SUCH SECTION BE CONSIDERED OFFICERS OF  THE  CITY.  FURTHER,
 SUCH  MEMBERS, THE PRESIDENT AND CERTAIN CRITICAL EMPLOYEES OF THE TRUST
 AS DESIGNATED BY THE BOARD OR THE PRESIDENT, SHALL  BE  SUBJECT  TO  THE
 PROVISIONS  OF  SECTION 12-110 OF THE ADMINISTRATIVE CODE OF THE CITY OF
 NEW YORK PERTAINING TO THE FILING OF ANNUAL DISCLOSURE REPORTS WITH  THE
 CITY  CONFLICTS  OF INTEREST BOARD, AND FOR SUCH PURPOSE, THE MEMBERS OF
 THE BOARD OF TRUSTEES SHALL BE DEEMED TO BE COMPENSATED MEMBERS  OF  THE
 TRUST.
   5.  THE  BOARD  SHALL PROVIDE FOR THE HOLDING OF REGULAR MEETINGS, AND
 SUCH SPECIAL MEETINGS, AT THE CALL OF THE CHAIR OF THE TRUST, AS MAY  BE
 NECESSARY.  A MAJORITY OF THE WHOLE NUMBER OF MEMBERS SHALL CONSTITUTE A
 QUORUM FOR THE TRANSACTION OF BUSINESS. THE POWERS OF THE BOARD SHALL BE
 VESTED IN AND EXERCISED BY A MAJORITY OF THE WHOLE NUMBER OF THE MEMBERS
 THEREOF.    ANY  ONE  OR  MORE MEMBERS OF THE BOARD MAY PARTICIPATE IN A
 MEETING OF THE TRUST BY MEANS OF VIDEOCONFERENCING CONSISTENT WITH ARTI-
 CLE SEVEN OF THE PUBLIC OFFICERS LAW.
   6. MEMBERS OF THE BOARD, OTHER THAN MEMBERS SERVING BY VIRTUE OF THEIR
 POSITIONS, SHALL RECEIVE A STIPEND IN THE AMOUNT OF  TWO  HUNDRED  FIFTY
 DOLLARS  FOR  EVERY  FOUR  HOURS OF WORK PERFORMED FOR THE TRUST, NOT TO
 EXCEED ONE THOUSAND FIVE  HUNDRED  DOLLARS  PER  MONTH.    IN  ADDITION,
 MEMBERS  SHALL  BE  REIMBURSED  FOR  THE  ACTUAL  AND NECESSARY EXPENSES
 INCURRED BY THEM IN THE PERFORMANCE OF THEIR OFFICIAL DUTIES AS  MEMBERS
 OF THE BOARD OF TRUSTEES.
   7.  THE BOARD SHALL APPOINT A PRESIDENT OF THE TRUST AND DETERMINE THE
 COMPENSATION OF THE PRESIDENT. THE PRESIDENT, WHO SHALL NOT BE A  MEMBER
 OF  THE  BOARD,  SHALL  BE  THE CHIEF EXECUTIVE OFFICER OF THE TRUST AND
 SHALL BE RESPONSIBLE FOR THE DISCHARGE OF THE EXECUTIVE AND  ADMINISTRA-
 TIVE  FUNCTIONS  AND  POWERS OF THE TRUST, INCLUDING THE EXERCISE OF ANY
 POWERS DELEGATED BY THE BOARD TO  THE  PRESIDENT.  THE  PRESIDENT  SHALL
 SERVE AT THE PLEASURE OF THE BOARD.
   8.  THE  TRUST AND ITS CORPORATE EXISTENCE SHALL CONTINUE UNTIL TERMI-
 NATED BY LAW, PROVIDED, HOWEVER, THAT NO SUCH LAW SHALL TAKE  EFFECT  SO
 LONG  AS  THE  TRUST  SHALL  HAVE  BONDS,  NOTES  AND  OTHER OBLIGATIONS
 OUTSTANDING, UNLESS ADEQUATE PROVISION HAS BEEN  MADE  FOR  THE  PAYMENT
 THEREOF.    UPON  THE TERMINATION OF THE EXISTENCE OF THE TRUST, ALL ITS
 RIGHTS AND PROPERTIES SHALL PASS TO AND BE VESTED IN NYCHA.
   9. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, NO OFFICER OR
 EMPLOYEE OF THE STATE, OR OF ANY  CIVIL  DIVISION  THEREOF,  OR  OF  ANY
 PUBLIC  CORPORATION, AS DEFINED IN THE GENERAL CONSTRUCTION LAW, INCLUD-
 ING NYCHA, SHALL BE DEEMED TO  HAVE  FORFEITED  OR  SHALL  FORFEIT  SUCH
 A. 7805--D                          7
 
 PERSON'S OFFICE OR EMPLOYMENT OR ANY BENEFITS PROVIDED UNDER THE RETIRE-
 MENT AND SOCIAL SECURITY LAW OR UNDER ANY PUBLIC RETIREMENT SYSTEM MAIN-
 TAINED  BY  THE  STATE OR BY THE CIVIL DIVISIONS THEREOF, OR BY ANY SUCH
 PUBLIC  CORPORATION, BY REASON OF SUCH PERSON'S ACCEPTANCE OF MEMBERSHIP
 ON THE BOARD OF THE TRUST OR BY VIRTUE OF SUCH PERSON BEING  AN  OFFICER
 OR EMPLOYEE OF THE TRUST.
   §  629.  POWERS  AND  DUTIES  OF  THE  TRUST. THE TRUST SHALL HAVE THE
 FOLLOWING POWERS AND DUTIES:
   1. TO SUE AND BE SUED;
   2. TO HAVE A SEAL AND ALTER THE SAME AT PLEASURE;
   3. TO MAKE AND, AS NECESSARY, TO AMEND  AND  REPEAL  BY-LAWS  FOR  THE
 TRUST  AND THE MANAGEMENT AND REGULATION OF ITS AFFAIRS NOT INCONSISTENT
 WITH THE PROVISIONS OF THIS ARTICLE;
   4. TO APPOINT THE PRESIDENT OF  THE  TRUST  AND  FIX  THE  PRESIDENT'S
 COMPENSATION, PURSUANT TO SECTION SIX HUNDRED TWENTY-EIGHT OF THIS ARTI-
 CLE,  AND TO EXECUTE DIRECT OVERSIGHT OF THE PRESIDENT AND OTHER MANAGE-
 MENT IN THE EFFECTIVE AND ETHICAL MANAGEMENT OF THE TRUST, AND ESTABLISH
 POLICIES REGARDING THE PAYMENT OF SALARY,  COMPENSATION  AND  REIMBURSE-
 MENTS  TO, AND ESTABLISH RULES FOR THE TIME AND ATTENDANCE OF THE PRESI-
 DENT AND MANAGEMENT;
   5. TO ENGAGE OR  ASSIST  IN  THE  DEVELOPMENT,  DESIGN,  CONSTRUCTION,
 RECONSTRUCTION,  IMPROVEMENT,  MODERNIZATION, REHABILITATION, REPAIRING,
 AND OPERATION OF HOUSING FACILITIES  PURSUANT  TO  SECTION  TWO  HUNDRED
 TWENTY OF THE LABOR LAW;
   6.  TO ACQUIRE OR TRANSFER REAL AND PERSONAL PROPERTY AND IMPROVEMENTS
 THEREON, OR ANY INTEREST THEREIN, BY ANY METHOD, NECESSARY OR CONVENIENT
 FOR THE EXERCISE OF ITS FUNCTIONS, POWERS AND DUTIES; PROVIDED THAT SUCH
 TRANSFER SHALL NOT BE UTILIZED TO AVOID  THE  USE  OF  A  PROJECT  LABOR
 AGREEMENT  OR  PAYMENT  OF THE PREVAILING WAGE REQUIREMENTS SET FORTH IN
 SECTION TWO HUNDRED TWENTY OF THE LABOR LAW;
   7. TO ENCUMBER RESIDENTIAL PROPERTY AND BUILDINGS HELD  BY  THE  TRUST
 AND  LIMIT  USE  TO  RESIDENTS WHO ARE LOW-INCOME FAMILIES AS DEFINED IN
 SUBDIVISION ELEVEN OF SECTION SIX HUNDRED TWENTY-SEVEN OF  THIS  ARTICLE
 AND  OTHER  RESIDENTS AS DEFINED IN SUBDIVISION SEVENTEEN OF SECTION SIX
 HUNDRED TWENTY-SEVEN OF THIS ARTICLE;
   8. TO MAKE AND EXECUTE CONTRACTS AND ALL OTHER  INSTRUMENTS  NECESSARY
 OR  CONVENIENT  FOR  THE  EXERCISE  OF ITS FUNCTIONS, POWERS AND DUTIES,
 INCLUDING PROCUREMENT CONTRACTS CONSISTENT WITH APPLICABLE PROVISIONS OF
 THIS ARTICLE. NOTWITHSTANDING ANY PROVISION  OF  LAW  TO  THE  CONTRARY,
 INCLUDING  BUT  NOT  LIMITED TO ARTICLE EIGHT OF THIS CHAPTER, THE TRUST
 MAY ENTER INTO CONTRACTS, CONSISTENT WITH APPLICABLE PROVISIONS OF  THIS
 ARTICLE, WITH NYCHA OR ON BEHALF OF AND FOR THE BENEFIT OF NYCHA;
   9.  TO  ENTER INTO AGREEMENTS WITH THE NYCHA OR OTHER ENTITIES FOR THE
 PROVISION OF MANAGEMENT, MAINTENANCE AND OTHER SERVICES;
   10. NOTWITHSTANDING THE PROVISIONS OF SECTION TWENTY-FIVE HUNDRED FOUR
 OF THE INSURANCE LAW OR ANY OTHER PROVISION OF LAW TO THE  CONTRARY,  TO
 PROCURE  OR CAUSE TO BE PLACED OR PROCURED INSURANCE ON BEHALF OF ITSELF
 AND OTHERS AGAINST ANY LOSS IN CONNECTION WITH ITS  ACTIVITIES,  PROPER-
 TIES  AND  OTHER  ASSETS,  IN  SUCH AMOUNTS AND FROM SUCH INSURERS AS IT
 DEEMS DESIRABLE;
   11. TO ENTER INTO AGREEMENTS WITH PUBLIC AGENCIES AND PUBLIC  ENTITIES
 FOR THE RECEIPT OF SERVICES;
   12.  TO  BORROW  AND  LOAN FUNDS AND ISSUE BONDS, NOTES OR OTHER OBLI-
 GATIONS CONSISTENT WITH THIS ARTICLE;
   13. TO FORM OR PARTICIPATE AS MEMBERS OR PARTNERS OF PRIVATE ENTITIES,
 WHICH MAY INCLUDE BUT ARE NOT LIMITED TO,  NOT-FOR-PROFIT  CORPORATIONS,
 A. 7805--D                          8
 
 HOUSING  DEVELOPMENT  FUND CORPORATIONS, LIMITED LIABILITY CORPORATIONS,
 AND LIMITED PARTNERSHIPS, TO FURTHER THE PURPOSES AND POWERS  GIVEN  AND
 GRANTED BY THIS SECTION;
   14.  TO  EARN  FEES  AND OTHER PROCEEDS FROM THE ACTIVITIES AND POWERS
 GIVEN AND GRANTED BY THIS SECTION;
   15. TO APPLY  FOR  OR  ACCEPT  FROM  ANY  SOURCE  ANY  GIFTS,  GRANTS,
 DONATIONS, OR CONVEYANCES OF LAND, MONEY, OTHER REAL OR PERSONAL PROPER-
 TY,  OR OTHER ITEMS OF VALUE, OR LOANS OF FUNDS OR PROPERTY OR FINANCIAL
 OR OTHER AID OR CREDIT ASSISTANCE IN ANY FORM, INCLUDING  ANY  GUARANTY,
 LINE  OF  CREDIT, OR GRANT, FROM THE FEDERAL GOVERNMENT OR ANY AGENCY OR
 INSTRUMENTALITY THEREOF, FROM THE STATE OR ANY AGENCY OR INSTRUMENTALITY
 THEREOF, FROM THE CITY OR ANY AGENCY OR INSTRUMENTALITY THEREOF, OR FROM
 ANY OTHER SOURCE, FOR ANY OR ALL OF THE PURPOSES SPECIFIED IN THIS ARTI-
 CLE, AND IT MAY COMPLY, SUBJECT TO THE PROVISIONS OF THIS ARTICLE,  WITH
 THE TERMS AND CONDITIONS THEREOF;
   16.  PRIOR  TO THE APPROVAL OF ANY RULE OR REGULATION AFFECTING RIGHTS
 AND PROTECTIONS AFFORDED TO RESIDENTS OF HOUSING FACILITIES,  INCLUDING,
 BUT  NOT  LIMITED TO, RESIDENT PROTECTIONS AND OPPORTUNITIES PURSUANT TO
 SECTION SIX HUNDRED THIRTY-ONE OF THIS ARTICLE, LEASE REVISIONS,  SCHED-
 ULES  OF  SPECIAL CHARGES FOR SERVICES, REPAIRS AND UTILITIES, AND RULES
 AND REGULATIONS TO BE INCORPORATED INTO  THE  LEASE  BY  REFERENCE,  THE
 TRUST  SHALL POST A NOTICE CONTAINING THE PROPOSED RULE OR REGULATION ON
 THE WEBSITE OF THE TRUST AND IN A PROMINENT  LOCATION  IN  THE  AFFECTED
 HOUSING FACILITY. SUCH NOTICE SHALL INCLUDE (A) A STATEMENT OF THE BASIS
 AND  PURPOSE OF THE PROPOSED RULE, (B) THE TIME AND PLACE OF THE MEETING
 AT WHICH THE BOARD WILL PROVIDE RESIDENTS AN OPPORTUNITY TO PROVIDE ORAL
 COMMENT ON SUCH PROPOSED RULE, PROVIDED THAT A MEETING TO PROVIDE  RESI-
 DENTS  AN  OPPORTUNITY  TO PROVIDE ORAL COMMENT SHALL NOT BE REQUIRED IF
 SUCH RULE IS REQUIRED BY LAW  WITH  ONLY  MINOR,  IF  ANY,  EXERCISE  OF
 DISCRETION  BY  THE  TRUST, OR DOES NOT ADVERSELY AFFECT THE PROTECTIONS
 AFFORDED TO THE RESIDENTS OF THE HOUSING FACILITIES, AND (C) AN OPPORTU-
 NITY TO SUBMIT WRITTEN COMMENTS AND THE FINAL DATE FOR RECEIPT OF  WRIT-
 TEN  COMMENTS.  THE TRUST MAY ADOPT A RULE OR REGULATION AFTER RECEIVING
 WRITTEN COMMENTS ON THE PROPOSED RULE OR REGULATION FOR A PERIOD  OF  AT
 LEAST  THIRTY  DAYS.   THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED IN
 SUCH PERIOD PRIOR TO ADOPTING SUCH RULE OR REGULATION. IN THE EVENT  THE
 TRUST  DETERMINES  THAT  IMMEDIATE ADOPTION OF ANY RULE OR REGULATION IS
 NECESSARY FOR THE PRESERVATION OF HEALTH, SAFETY OR GENERAL WELFARE  AND
 THAT  COMPLIANCE  WITH  THE  FOREGOING  REQUIREMENTS OF THIS SUBDIVISION
 WOULD BE CONTRARY TO THE PUBLIC INTEREST,  SUCH  PROPOSED  ITEM  MAY  BE
 ADOPTED  ON  AN  EMERGENCY BASIS. THE TRUST SHALL PROVIDE WRITTEN JUSTI-
 FICATION FOR SUCH DETERMINATION AND  MAKE  SUCH  JUSTIFICATION  PUBLICLY
 AVAILABLE  INCLUDING  VIA ITS WEBSITE AND IN A PROMINENT LOCATION IN THE
 AFFECTED HOUSING FACILITY. ANY SUCH IMMEDIATE ADOPTION SHALL ONLY REMAIN
 IN EFFECT FOR SIXTY DAYS, AND DURING SUCH TIME THE  TRUST  SHALL  COMPLY
 WITH  THE  REQUIREMENTS OF THIS SUBDIVISION IN ORDER FOR THE ADOPTION OF
 THE RULE OR REGULATION TO BECOME PERMANENT. ALL NOTICE SHALL  BE  UNDER-
 TAKEN  IN  COMPLIANCE  WITH  LANGUAGE ACCESS REQUIREMENTS IN FEDERAL AND
 STATE LAW, AS APPLICABLE; AND
   17. TO DO ANY AND ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT  AND
 EXERCISE THE POWERS GIVEN AND GRANTED BY THIS ARTICLE.
   §  630.  TRANSFER  OF PROPERTY. 1. NYCHA, ACTING BY NYCHA BOARD RESOL-
 UTION AND IN ACCORDANCE WITH A DISPOSITION OR SIMILAR PLAN  APPROVED  BY
 THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT IN ACCORD-
 ANCE  WITH  APPLICABLE  FEDERAL  LAW,  WHICH  SHALL  INCLUDE A LETTER OF
 APPROVAL FROM THE MAYOR OR A DESIGNEE OF THE MAYOR, MAY TRANSFER TO  THE
 A. 7805--D                          9
 
 TRUST,  WITH  OR  WITHOUT CONSIDERATION AND WITHOUT ANY FURTHER AUTHORI-
 ZATION, A LEASEHOLD INTEREST IN ITS HOUSING FACILITIES AND ANY ANCILLARY
 PERSONAL PROPERTY OF SUCH FACILITIES. THE AGGREGATE NUMBER  OF  RESIDEN-
 TIAL  UNITS  TRANSFERRED TO THE TRUST PURSUANT TO THIS SECTION SHALL NOT
 EXCEED TWENTY-FIVE THOUSAND. ON AN ANNUAL BASIS,  NYCHA  AND  THE  TRUST
 SHALL REVIEW SUCH LIMIT AND, IF THEY DETERMINE THAT SUCH LIMIT SHOULD BE
 INCREASED,  NYCHA AND THE TRUST SHALL MAKE RECOMMENDATIONS TO THE LEGIS-
 LATURE REGARDING ANY SUCH INCREASE.
   2. WITHIN SIXTY DAYS OF THE EFFECTIVE  DATE  OF  THIS  ARTICLE,  NYCHA
 SHALL  ISSUE  A SET OF PROPOSED REQUIREMENTS RELATED TO THE VOTING PROC-
 ESS. THERE SHALL BE A COMMENT PERIOD FOR THE  VOTING  PROCESS,  AND  THE
 COMMENT  PERIOD  SHALL  INCLUDE AT LEAST ONE MEETING OPEN TO THE PUBLIC.
 NYCHA SHALL CONSIDER THE COMMENTS BEFORE ISSUANCE OF THE FINAL  REQUIRE-
 MENTS  FOR  THE  VOTING PROCESS. THE COMMENTS, AND THE RESPONSES TO SUCH
 COMMENTS, SHALL BE PUBLISHED PUBLICLY, INCLUDING, BUT NOT LIMITED TO, ON
 NYCHA'S WEBSITE.  WITHIN ONE HUNDRED TWENTY DAYS OF THE  EFFECTIVE  DATE
 OF  THIS  ARTICLE,  THE FINAL REQUIREMENTS FOR THE VOTING PROCESS, WHICH
 MAY BE AMENDED AS NEEDED PURSUANT  TO  THE  PROCESS  DESCRIBED  IN  THIS
 SECTION,  SHALL  BE  POSTED.  SUCH  VOTING  PROCESS  REQUIREMENTS  SHALL
 INCLUDE: THE MINIMUM REQUIREMENTS FOR VOTER OUTREACH  THAT  SHALL  OCCUR
 PRIOR  TO  ANY  VOTE, WHICH SHALL, AT A MINIMUM, CONFORM TO THE REQUIRE-
 MENTS SET FORTH IN SUBDIVISION FIVE OF THIS SECTION, VOTING ELIGIBILITY,
 THE FORM, SUBSTANCE, AND  TIMING  OF  THE  VOTING  PROCESS,  THE  VOTING
 REQUIREMENTS REGARDING THE SELECTION OF ANY OTHER PROPOSED MODERNIZATION
 STRATEGY  AT  A  HOUSING FACILITY IN CONNECTION WITH THE VOTING PROCESS,
 AND THE CRITERIA BY WHICH AN OPTION SHALL BE DEEMED TO  BE  ACCEPTED  OR
 REJECTED  BY RESIDENTS OF A PARTICULAR HOUSING FACILITY FOR A MODERNIZA-
 TION STRATEGY THAT ADDRESSES THE CAPITAL NEEDS OF SUCH HOUSING FACILITY.
 THE VOTING PROCESS SHALL ENSURE THAT ALL TENANTS OF RECORD ABOVE THE AGE
 OF EIGHTEEN ARE ELIGIBLE TO  VOTE.  THE  VOTING  PROCESS  SHALL  INCLUDE
 OPTIONS TO VOTE IN PERSON, BY MAIL, AND ONLINE. THE VOTING PROCESS SHALL
 ALSO  REQUIRE  A MINIMUM PERCENTAGE OF TENANTS OF RECORD AT SUCH HOUSING
 FACILITY TO PARTICIPATE IN THE VOTING PROCESS FOR SUCH VOTING PROCESS TO
 BE VALID. THE VOTING PROCESS SHALL ALSO INCLUDE, BUT SHALL NOT BE LIMIT-
 ED TO, THE ABILITY OF RESIDENTS AT  A  PARTICULAR  HOUSING  FACILITY  TO
 REJECT  THE OPTIONS PROPOSED FOR SUCH HOUSING FACILITY SUBMITTED AS PART
 OF THE VOTING PROCESS. IF ALL OPTIONS ARE REJECTED AT A PARTICULAR HOUS-
 ING FACILITY, NONE OF THE PROPOSED OPTIONS SHALL BE IMPLEMENTED AT  SUCH
 HOUSING FACILITY UNTIL ANOTHER VOTE IS UNDERTAKEN AT SUCH HOUSING FACIL-
 ITY.  NYCHA  SHALL  COMPLY  WITH  A  VOTE  TO  ACCEPT OR REJECT ANY SUCH
 OPTIONS. THE TRUST SHALL NOT TRANSFER, CONVEY, ASSIGN, MORTGAGE,  PLEDGE
 OR OTHERWISE ENCUMBER ANY INTEREST IN, OR PERMIT OR SUFFER ANY TRANSFER,
 CONVEYANCE,  ASSIGNMENT,  MORTGAGE,  PLEDGE  OR OTHER ENCUMBRANCE OF ANY
 INTEREST IN SUCH HOUSING FACILITY, OR ANY PART  THEREOF,  PRIOR  TO  THE
 POSTING  OF  THE FINAL REQUIREMENTS FOR THE VOTING PROCESS, PRIOR TO THE
 COMPLETED VOTE AT SUCH HOUSING FACILITY APPROVING SUCH OPTION, AND PRIOR
 TO THE SATISFACTION OF APPLICABLE FEDERAL LAW AND  REGULATIONS.    NYCHA
 SHALL NOT TRANSFER, CONVEY, ASSIGN, MORTGAGE, OR PLEDGE TO THE TRUST, OR
 PERMIT  OR  SUFFER  ANY  TRANSFER,  CONVEYANCE, ASSIGNMENT, MORTGAGE, OR
 PLEDGE TO THE TRUST ANY INTEREST IN SUCH HOUSING FACILITY, OR  ANY  PART
 THEREOF,  PRIOR  TO THE POSTING OF THE FINAL REQUIREMENTS FOR THE VOTING
 PROCESS, PRIOR TO THE COMPLETED VOTE AT SUCH HOUSING FACILITY  APPROVING
 SUCH OPTION, AND PRIOR TO THE SATISFACTION OF APPLICABLE FEDERAL LAW AND
 REGULATIONS.
   3.  IN  ADDITION  TO  THE REQUIREMENTS SET FORTH IN SUBDIVISION TWO OF
 THIS SECTION, THE TRUST SHALL NOT TRANSFER,  CONVEY,  ASSIGN,  MORTGAGE,
 A. 7805--D                         10

 PLEDGE  OR  OTHERWISE  ENCUMBER ANY INTEREST IN, OR PERMIT OR SUFFER ANY
 TRANSFER, CONVEYANCE, ASSIGNMENT, MORTGAGE, PLEDGE OR OTHER  ENCUMBRANCE
 OF  ANY  INTEREST IN ANY HOUSING FACILITIES, OR ANY PART THEREOF WITHOUT
 PRIOR WRITTEN CONSENT OF NYCHA.  SUCH WRITTEN CONSENT SHALL INCLUDE, BUT
 NOT  BE  LIMITED  TO,  ALL  PROTECTIONS DESCRIBED IN SECTION SIX HUNDRED
 THIRTY-ONE OF THIS ARTICLE AND IN SUBDIVISION FOURTEEN  OF  SECTION  SIX
 HUNDRED  THIRTY-SEVEN  OF  THIS  ARTICLE  AND SHALL INCLUDE REFERENCE TO
 SECTION SIX HUNDRED THIRTY-THREE OF THIS ARTICLE.
   4. THE TRUST SHALL ENSURE THAT ANY HOUSING FACILITIES  TRANSFERRED  TO
 THE  TRUST  PURSUANT TO THIS SECTION AND ANY PORTIONS THEREOF ARE LEASED
 IN ACCORDANCE WITH UNITED STATES DEPARTMENT OF HOUSING AND URBAN  DEVEL-
 OPMENT  ELIGIBILITY  AND  INCOME-TARGETING  REQUIREMENTS,  TO THE EXTENT
 APPLICABLE TO THE UNITS THEREIN. RENTS FOR SUCH UNITS SHALL  NOT  EXCEED
 APPLICABLE PROGRAM REQUIREMENTS FOR THE PROVISION OF HOUSING FOR LOW-IN-
 COME  FAMILIES  AS  ESTABLISHED PURSUANT TO FEDERAL LAW AND REGULATIONS.
 WHERE  NYCHA  RULES,  REGULATIONS  OR  AGREEMENTS  EXCEED  THE  RESIDENT
 PROTECTION  STANDARDS  SET FORTH IN STATE OR FEDERAL LAW OR REGULATIONS,
 ANY HOUSING FACILITIES TRANSFERRED TO THE TRUST PURSUANT TO THIS SECTION
 AND ANY PORTIONS THEREOF SHALL BE LEASED IN ACCORDANCE WITH THE REQUIRE-
 MENTS SET FORTH IN THE  NYCHA  RULES,  REGULATIONS,  OR  AGREEMENTS,  AS
 APPLICABLE.   TO THE EXTENT CONSISTENT WITH FEDERAL LAW AND REGULATIONS,
 ANY TRANSFER OF A HOUSING FACILITY TO THE TRUST PURSUANT TO THIS ARTICLE
 SHALL ENSURE THE MAINTENANCE OF ALL RIGHTS CONFERRED ON  A  RESIDENT  AT
 THE TIME OF SUCH TRANSFER.
   5.  AS  PART  OF  THE  VOTING PROCESS AND PRIOR TO THE TRANSFER OF ANY
 HOUSING FACILITY, OR ANY PART THEREOF, TO THE TRUST, NYCHA SHALL  ENGAGE
 IN  A  COURSE  OF  RESIDENT  ENGAGEMENT.  SUCH RESIDENT ENGAGEMENT SHALL
 INCLUDE:  (A) NOTICE OF PROPOSED OPTIONS ON THE WEBSITE OF NYCHA AND  IN
 A PROMINENT LOCATION OF THE AFFECTED HOUSING FACILITY IN COMPLIANCE WITH
 LANGUAGE ACCESS REQUIREMENTS IN FEDERAL AND STATE LAW, AS APPLICABLE;
   (B) A SUMMARY DESCRIPTION OF THE PROPOSED OPTIONS;
   (C)  THE TIME AND PLACE OF AT LEAST ONE PUBLIC MEETING HELD IN ACCORD-
 ANCE WITH APPLICABLE ACCESSIBILITY REQUIREMENTS  AT  WHICH  NYCHA  SHALL
 PROVIDE  RESIDENTS  OF  SUCH  FACILITY  INFORMATION  ABOUT  THE PROPOSED
 OPTIONS AND AN OPPORTUNITY TO  PROVIDE  ORAL  COMMENT  ON  THE  PROPOSED
 TRANSFER;
   (D)  NOTIFICATION BY MAIL, PHONE, AND EMAIL, WHERE SUCH CONTACT INFOR-
 MATION IS AVAILABLE, AT LEAST THIRTY DAYS PRIOR TO A VOTE, TO ALL  RESI-
 DENTS  OF SUCH HOUSING FACILITY, WHICH SHALL INCLUDE INFORMATION DETAIL-
 ING THE PROPOSED OPTIONS; AND
   (E) AN OPPORTUNITY FOR RESIDENTS TO SUBMIT WRITTEN  COMMENTS  AND  THE
 FINAL  DATE  FOR  SUBMISSION  OF SUCH COMMENTS. NYCHA SHALL CONSIDER AND
 RESPOND TO ALL COMMENTS RECEIVED IN SUCH PERIOD PRIOR  TO  COMPLETING  A
 TRANSFER PURSUANT TO THIS SUBDIVISION.
   §  631.  RESIDENT  PROTECTIONS  AND  OPPORTUNITIES. 1. THE PROTECTIONS
 AFFORDED TO A RESIDENT OF A HOUSING FACILITY SHALL  BE  CONSISTENT  WITH
 THOSE  AFFORDED TO A PUBLIC HOUSING RESIDENT, TO THE EXTENT PERMITTED IN
 ACCORDANCE WITH FEDERAL LAW, AND SUBJECT TO AND WITH THE APPROVAL OF THE
 UNITED  STATES  DEPARTMENT  OF  HOUSING  AND  URBAN  DEVELOPMENT.  THESE
 PROTECTIONS SHALL INCLUDE, BUT ARE NOT LIMITED TO:
   (A)  PRESERVING  THE  AFFORDABLE CHARACTER OF SUCH HOUSING FACILITY IN
 ACCORDANCE WITH SECTION EIGHT OF THE UNITED STATES HOUSING ACT OF  NINE-
 TEEN  HUNDRED  THIRTY-SEVEN,  AS AMENDED, OR ANY SUCCESSOR PROVISION AND
 WITH PART FIVE OF TITLE TWENTY-FOUR OF THE CODE OF  FEDERAL  REGULATIONS
 OR ANY SUCCESSOR REGULATION;
 A. 7805--D                         11
 
   (B)  ENSURING  THAT  ANY RESIDENT REQUIRED TO RELOCATE TEMPORARILY FOR
 PURPOSES OF REHABILITATION OR REDEVELOPMENT OF SUCH HOUSING FACILITY  IS
 GUARANTEED  THE ABILITY TO RETURN TO SUCH HOUSING FACILITY FOLLOWING THE
 COMPLETION OF SUCH REHABILITATION OR REDEVELOPMENT, AND THAT  THE  RELO-
 CATION EXPENSES OF SUCH TEMPORARY RELOCATION BE PAID FOR BY THE TRUST OR
 NYCHA AS REQUIRED BY APPLICABLE FEDERAL LAW;
   (C)  PROVIDING  A RESIDENT OF SUCH HOUSING FACILITY THE OPPORTUNITY TO
 ESTABLISH AND OPERATE A COUNCIL TO REPRESENT RESIDENTS IN  SUCH  HOUSING
 FACILITY  TO  ADDRESS  CONCERNS  RELATING  TO SUCH FACILITY, PURSUANT TO
 SUBPART B OF PART NINE HUNDRED SIXTY-FOUR OF TITLE  TWENTY-FOUR  OF  THE
 CODE  OF  FEDERAL  REGULATIONS  OR  ANY  SUCCESSOR REGULATION, AND TO BE
 ELIGIBLE FOR RESIDENT PARTICIPATION FUNDING FROM  THE  TRUST  CONSISTENT
 WITH  FUNDING  AVAILABLE  TO  RESIDENTS  OF  PUBLIC  HOUSING PURSUANT TO
 SECTION 964.150 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL  REGULATIONS
 OR ANY SUCCESSOR REGULATION, PROVIDED THAT ANY RESIDENT COUNCIL THAT, AT
 THE  TIME  OF THE TRANSFER OF A HOUSING FACILITY TO THE TRUST, IS CERTI-
 FIED BY NYCHA AS THE RESIDENT COUNCIL SHALL BE RECOGNIZED BY  THE  TRUST
 AS THE RESIDENT COUNCIL OF SUCH HOUSING FACILITY;
   (D)  PROVIDING  A RESIDENT OF A HOUSING FACILITY AN OPPORTUNITY FOR AN
 INFORMAL HEARING TO GRIEVE ANY DISPUTE THAT SUCH RESIDENT MAY HAVE  WITH
 RESPECT  TO AN ACTION OF THE TRUST WITH REGARD TO SUCH RESIDENT'S LEASE,
 CONSISTENT WITH THE OBLIGATION OF A PUBLIC HOUSING  AGENCY  PURSUANT  TO
 PARAGRAPH EIGHT OF SUBDIVISION (E) OF SECTION 966.4 OF TITLE TWENTY-FOUR
 OF  THE  CODE  OF  FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATIONS  AND
 PURSUANT TO SUBPART B OF PART NINE HUNDRED SIXTY-SIX  OF  TITLE  TWENTY-
 FOUR OF THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATIONS;
   (E)  PROVIDING  A  RESIDENT OF A HOUSING FACILITY AUTOMATIC RENEWAL OF
 SUCH RESIDENT'S LEASES, EXCEPT FOR GOOD CAUSE AS SPECIFIED IN THE  LEASE
 BETWEEN  SUCH  RESIDENT  AND THE TRUST, CONSISTENT WITH THE REQUIREMENTS
 RELATING TO A LEASE BETWEEN A PUBLIC HOUSING AGENCY AND A  TENANT  OF  A
 DWELLING  UNIT PURSUANT TO SUBPARAGRAPH (I) OF PARAGRAPH TWO OF SUBDIVI-
 SION (A) AND SUBDIVISION (L) OF SECTION 966.4 OF  TITLE  TWENTY-FOUR  OF
 THE CODE OF FEDERAL REGULATIONS OR ANY SUCCESSOR REGULATION;
   (F) DETERMINING SUCCESSION TO A LEASE BETWEEN A RESIDENT AND THE TRUST
 IN  ACCORDANCE  WITH  THE  SUCCESSION POLICY DESCRIBED IN THE MANAGEMENT
 MANUAL, AND ANY AMENDMENTS TO SUCH MANUAL, OF NYCHA;
   (G) PERMITTING A RESIDENT WHOSE TOTAL TENANT PAYMENT,  AS  DEFINED  IN
 SECTION  983.3  OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL REGULATIONS,
 OR ANY SUCCESSOR REGULATIONS, WOULD EQUAL OR EXCEED THE RENT  TO  OWNER,
 AS  DEFINED IN SECTION 983.3 OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS OR ANY SUCCESSOR REGULATIONS, TO REMAIN IN A HOUSING FACILI-
 TY AND PAY RENT IN AN AMOUNT TO BE DETERMINED BY THE TRUST AND NYCHA AND
 AS SET FORTH IN THE LEASE OF SUCH RESIDENT;
   (H) DETERMINING SUCCESSION TO A VOUCHER PURSUANT TO SECTION  EIGHT  OF
 THE  UNITED  STATES  HOUSING  ACT  OF  NINETEEN HUNDRED THIRTY-SEVEN, AS
 AMENDED, OR ANY SUCCESSOR PROVISION,  IN  ACCORDANCE  WITH  THE  HOUSING
 VOUCHER PROGRAM ADMINISTRATIVE PLAN, AND ANY AMENDMENTS TO SUCH PLAN, OF
 NYCHA; AND
   (I)  NO  RESCREENING FOR ELIGIBILITY OR RIGHT-SIZING OF RESIDENTS OF A
 HOUSING FACILITY AS A RESULT OF A TRANSFER  OF  THE  LEASEHOLD  INTEREST
 FROM NYCHA TO THE TRUST.
   2.  THE  RESIDENT  PROTECTIONS  DESCRIBED  IN  SUBDIVISION ONE OF THIS
 SECTION SHALL BE ENUMERATED IN THE GROUND  LEASE  OR  OTHER  APPROPRIATE
 AGREEMENT BETWEEN NYCHA AND THE TRUST AND SHALL BE FURTHER ENUMERATED IN
 WRITING  BETWEEN  THE  TRUST  AND  EACH  RESIDENT OF A HOUSING FACILITY.
 NOTHING IN THIS SECTION SHALL PRECLUDE THE TRUST OR NYCHA FROM PROVIDING
 A. 7805--D                         12
 
 ADDITIONAL RESIDENT PROTECTIONS, WHICH MAY BE  ENUMERATED  IN  ANY  SUCH
 GROUND LEASE OR AGREEMENT.
   3.  THE  TRUST,  TO  THE GREATEST EXTENT FEASIBLE, AND CONSISTENT WITH
 FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, SHALL ENSURE THAT EMPLOY-
 MENT AND OTHER ECONOMIC OPPORTUNITIES BE DIRECTED TO  RESIDENTS  OF  THE
 HOUSING FACILITIES, CONSISTENT WITH SECTION THREE OF THE FEDERAL HOUSING
 AND  URBAN  DEVELOPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED,
 AND PART SEVENTY-FIVE OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL  REGU-
 LATIONS OR ANY SUCCESSOR LAW OR REGULATION. ALL PROJECT LABOR AGREEMENTS
 SHALL BE CONSISTENT WITH THIS SUBDIVISION.
   4.  THE  TRUST  SHALL  ACT IN ACCORDANCE WITH THE FULL REQUIREMENTS OF
 PART NINE HUNDRED SIXTY-FOUR OF TITLE TWENTY-FOUR OF THE CODE OF FEDERAL
 REGULATIONS OR ANY SUCCESSOR REGULATION. THE TRUST  SHALL,  AMONG  OTHER
 REQUIREMENTS,  SUPPORT  RESIDENT  PARTICIPATION IN THE OPERATIONS OF THE
 HOUSING FACILITIES AND NEGOTIATE, WITH ANY  RESIDENT  MANAGEMENT  CORPO-
 RATIONS, OR EQUIVALENT THAT SATISFIES THE REQUIREMENTS OF SUCH PART, FOR
 OPERATION  OF  A HOUSING FACILITY. THE TRUST SHALL CONSIDER APPLICATIONS
 OF RESIDENT ORGANIZATIONS, COMMUNITY ORGANIZATIONS OR OTHER LOCAL ORGAN-
 IZATIONS FOR GRANT FUNDING, AS AVAILABLE, TO PROVIDE TRAINING, TECHNICAL
 ASSISTANCE, AND  EDUCATION  TO  RESIDENTS  TO  SUPPORT  ACTIVE  RESIDENT
 PARTICIPATION IN THE PLANNING AND IMPLEMENTATION OF THE CONVERSION PROC-
 ESS.
   5.  THE  TRUST  SHALL  ENSURE  RESIDENTS PARTICIPATE IN THE PROCESS TO
 PROCURE THE VENDORS THAT WILL PERFORM CAPITAL RENOVATION, MODERNIZATION,
 AND CONSTRUCTION WORK, EXCLUDING EMERGENCY PROCUREMENTS.
   6. THE TRUST SHALL CREATE COMMITTEES CONSISTING OF MEMBERS  AS  APPRO-
 PRIATE,  WHICH SHALL INCLUDE, BUT NOT BE LIMITED TO, TRUST EMPLOYEES AND
 RESIDENTS OF THE HOUSING FACILITY  WHERE  CONSTRUCTION,  RECONSTRUCTION,
 REHABILITATION,  ALTERATION,  RENOVATION, MAINTENANCE AND REPAIR WORK IS
 BEING PERFORMED, AND SUCH COMMITTEES SHALL MEET  AS  NEEDED  TO  PROVIDE
 INPUT,  AND  OVERSIGHT,  ALONG WITH RECOMMENDATIONS, WITH RESPECT TO THE
 QUALITY OF SUCH WORK PERFORMED BY THE VENDORS OF THE TRUST.
   7.  THE TRUST AND NYCHA SHALL,  IN  ACCORDANCE  WITH  APPLICABLE  LAW,
 ESTABLISH A PROCEDURE AND ELIGIBILITY REQUIREMENTS BY WHICH A PERSON WHO
 IS  NOT A TENANT OF RECORD AS OF THIRTY DAYS BEFORE THE EXECUTION OF THE
 TRANSFER OF A LEASEHOLD INTEREST IN THE HOUSING FACILITY  TO  THE  TRUST
 MAY  BECOME  A  TENANT  OF RECORD BASED ON CONSIDERATION OF THE FAMILIAL
 NEXUS OF SUCH PERSON TO THE LAST TENANT OF RECORD ON  FILE  WITH  NYCHA,
 SUCH INDIVIDUALS TO INCLUDE, BUT NOT BE LIMITED TO, AUNTS, UNCLES, NIEC-
 ES,  NEPHEWS,  AND  FIRST  COUSINS,  PROVIDED  THAT SUCH APPLICATIONS TO
 BECOME A TENANT OF RECORD FOLLOWING THE TRANSFER OF A LEASEHOLD INTEREST
 IN THE HOUSING FACILITY TO THE TRUST SHALL BE MADE NO LATER THAN  THIRTY
 DAYS BEFORE SUCH TRANSFER. ANY REQUESTS RECEIVED AFTER SUCH DATE WILL BE
 REVIEWED IN ACCORDANCE WITH THE POLICIES DESCRIBED IN THE ADMINISTRATIVE
 PLAN, AND ANY AMENDMENTS TO SUCH PLAN, OF NYCHA.
   §  632.  COMPLIANCE  WITH  CODES.   1. THE TRUST SHALL, IN THE DESIGN,
 DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION,  IMPROVEMENT,  MODERNIZATION,
 REHABILITATION,  REPAIR,  AND  OPERATION  OF  OR OTHERWISE PROVIDING FOR
 HOUSING FACILITIES, COMPLY AND CAUSE ALL CONTRACTORS  OF  THE  TRUST  TO
 COMPLY WITH APPLICABLE SANITARY AND BUILDING LAWS AND REGULATIONS.
   2. THE TRUST SHALL ADOPT RULES OR REGULATIONS ESTABLISHING SUSTAINABLE
 DESIGN  GUIDELINES  FOR  THE  DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION,
 IMPROVEMENT, MODERNIZATION, REHABILITATION, REPAIR, AND OPERATION OF, OR
 OTHERWISE PROVIDING FOR, HOUSING FACILITIES, WHICH SHALL INCLUDE  CRITE-
 RIA  FOR  BENEFICIAL  ELECTRIFICATION AND RENEWABLE ENERGY PRODUCTION IN
 A. 7805--D                         13
 
 FURTHERANCE OF THE GOALS OF DECARBONIZED BUILDINGS, USE  OF  SUSTAINABLE
 MATERIALS, AND ENERGY AND WATER EFFICIENCY.
   § 633. CONTRACTS OF THE TRUST. 1. NOTWITHSTANDING ANY PROVISION OF LAW
 TO  THE  CONTRARY,  INCLUDING  BUT  NOT LIMITED TO ARTICLE EIGHT OF THIS
 CHAPTER, THE TRUST SHALL ESTABLISH  AND  MAINTAIN  PROCUREMENT  POLICIES
 THAT SHALL SET FORTH THE METHODS AND PROCEDURES BY WHICH THE TRUST SHALL
 PROCURE  CONTRACTS  FOR GOODS AND SERVICES, INCLUDING BUT NOT LIMITED TO
 SERVICES FOR DESIGN, DEVELOPMENT, CONSTRUCTION, RECONSTRUCTION, IMPROVE-
 MENT, MODERNIZATION, REHABILITATION, REPAIR AND  OPERATION,  RELATED  TO
 PROPERTY  OWNED  OR LEASED BY THE TRUST, IN A MANNER CONSISTENT WITH THE
 PROVISIONS OF THIS ARTICLE.  SUCH POLICIES SHALL SPECIFICALLY INCLUDE:
   (A) A COMPETITIVE SEALED BIDDING PROCESS FOR THE AWARD OF CONTRACTS IN
 WHICH SEALED BIDS ARE PUBLICLY SOLICITED OR SOLICITED  FROM  A  LIST  OF
 PREQUALIFIED  BIDDERS AND OPENED AND A CONTRACT IS AWARDED TO THE LOWEST
 RESPONSIVE, RESPONSIBLE BIDDER;
   (B) PROCESSES FOR AWARDING CONTRACTS  FOR  GOODS  AND  SERVICES  USING
 ALTERNATIVES  TO  COMPETITIVE  SEALED  BIDDING  WHERE COMPETITIVE SEALED
 BIDDING IS NOT PRACTICABLE OR NOT ADVANTAGEOUS, IN WHICH CASE THE  TRUST
 SHALL USE THE MOST COMPETITIVE METHOD OF PROCUREMENT THAT IS APPROPRIATE
 UNDER  THE  CIRCUMSTANCES TO SELECT THE PROPOSER OFFERING THE BEST VALUE
 TO THE TRUST;
   (C) A PROCESS FOR PREQUALIFYING BIDDERS AND PROPOSERS BASED ON  CRITE-
 RIA, WHICH MAY INCLUDE AN ENTITY'S EXPERIENCE, PAST PERFORMANCE, ABILITY
 TO UNDERTAKE WORK, FINANCIAL CAPABILITY, RESPONSIBILITY, RELIABILITY AND
 STATUS AS A CERTIFIED MINORITY OR WOMEN OWNED BUSINESS ENTERPRISE PURSU-
 ANT  TO  ARTICLE  FIFTEEN-A  OF  THE  EXECUTIVE  LAW OR SECTION THIRTEEN
 HUNDRED FOUR OF THE NEW YORK CITY CHARTER;
   (D) REASONABLE PROCEDURES TO SECURE THE  MEANINGFUL  PARTICIPATION  OF
 MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES IN THE TRUST'S PROCUREMENT
 PROCESS.    THE  TRUST MAY USE THE SAME MEASURES TO ENHANCE MINORITY AND
 WOMEN OWNED BUSINESS ENTERPRISE PARTICIPATION AS ARE  AVAILABLE  TO  THE
 CITY PURSUANT TO APPLICABLE LAW, INCLUDING SECTION 6-129 OF THE ADMINIS-
 TRATIVE CODE OF THE CITY OF NEW YORK;
   (E)  PROCESSES FOR AWARDING ALTERNATIVE PROJECT DELIVERY CONTRACTS, IN
 A MANNER CONSISTENT WITH THE TERMS OF SECTION SIX HUNDRED THIRTY-FOUR OF
 THIS ARTICLE;
   (F) PROCEDURES FOR THE  FAIR  AND  EQUITABLE  RESOLUTION  OF  CONTRACT
 DISPUTES,  FOR  APPEALS  OF  RESPONSIVENESS  AND RESPONSIBILITY DETERMI-
 NATIONS BY THE TRUST,  AND  FOR  APPEALS  OF  PREQUALIFICATION  DETERMI-
 NATIONS;
   (G)  A  PROCESS  FOR MAKING PURCHASES OFF CONTRACTS PROCURED BY PUBLIC
 AGENCIES AND PUBLIC ENTITIES, PROVIDED THAT SUCH CONTRACT EXISTS BETWEEN
 A VENDOR AND (1) THE UNITED STATES GENERAL SERVICES ADMINISTRATION,  (2)
 THE  STATE OF NEW YORK OR ANY OF ITS POLITICAL SUBDIVISIONS, (3) ANOTHER
 PUBLIC AUTHORITY OR PUBLIC CORPORATION OF THE STATE, (4) ANOTHER  PUBLIC
 HOUSING  AGENCY OR PUBLIC HOUSING AUTHORITY, OR (5) ANY PURCHASING COOP-
 ERATIVE WHERE THE LEAD  PURCHASING  ENTITY  IS  ANY  OF  THE  FOREGOING,
 PROVIDED THAT IN ANY CASE WHEN THE TRUST UNDER THIS PARAGRAPH DETERMINES
 THAT  OBTAINING  SUCH  ITEM  THEREBY WOULD BE IN THE PUBLIC INTEREST AND
 PROVIDE FOR GREATER ECONOMY AND EFFICIENCY AND SETS  FORTH  THE  REASONS
 FOR SUCH DETERMINATION.  SUCH RATIONALE SHALL INCLUDE, BUT NOT BE LIMIT-
 ED TO, A DETERMINATION OF NEED, A CONSIDERATION OF THE PROCUREMENT METH-
 OD  BY  WHICH THE CONTRACT WAS AWARDED, AN EXPLANATION WHY A COMPETITIVE
 PROCUREMENT OR THE USE OF A CENTRALIZED CONTRACT LET BY THE COMMISSIONER
 OF THE OFFICE OF GENERAL SERVICES IS NOT IN THE  BEST  INTEREST  OF  THE
 TRUST, AND THE REASONABLENESS OF COST; AND
 A. 7805--D                         14
 
   (H)  A MECHANISM FOR PROCUREMENTS WITHOUT A FORMAL COMPETITIVE PROCESS
 WHERE:
   (1)  THE EXISTENCE OF AN EMERGENCY INVOLVING DANGER TO LIFE, SAFETY OR
 PROPERTY REQUIRES IMMEDIATE ACTION AND CANNOT AWAIT A COMPETITIVE  PROC-
 ESS  FOR  GOODS  OR SERVICES TO BE PURCHASED, INCLUDING, BUT NOT LIMITED
 TO, SERVICES FOR CONSTRUCTION,  RECONSTRUCTION,  REHABILITATION,  ALTER-
 ATION,  RENOVATION, MAINTENANCE OR REPAIRS, WHICH ARE ESSENTIAL TO EFFI-
 CIENT OPERATION OR THE ADEQUATE PROVISION OF SERVICE BY THE TRUST AND AS
 A CONSEQUENCE OF UNFORESEEN CIRCUMSTANCE SUCH PURCHASE  CANNOT  AWAIT  A
 COMPETITIVE PROCESS;
   (2) A PROCUREMENT'S VALUE DOES NOT EXCEED FIFTY THOUSAND DOLLARS;
   (3)  THE TRUST RECEIVES NO RESPONSIVE BIDS OR ONLY A SINGLE RESPONSIVE
 BID IN RESPONSE TO A SOLICITATION FOR COMPETITIVE BIDS OR PROPOSALS;
   (4) A PROCUREMENT'S  VALUE  DOES  NOT  EXCEED  FIVE  HUNDRED  THOUSAND
 DOLLARS  AND  IS  MADE  FROM A BUSINESS CERTIFIED AS A MINORITY OR WOMEN
 OWNED BUSINESS ENTERPRISE PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE
 LAW AND SECTION THIRTEEN HUNDRED FOUR OF  THE  NEW  YORK  CITY  CHARTER.
 NOTHING  IN THIS PARAGRAPH SHALL BE CONSTRUED TO REQUIRE THAT SUCH BUSI-
 NESS BE CONCURRENTLY CERTIFIED  AS  MINORITY  OR  WOMEN  OWNED  BUSINESS
 ENTERPRISES  UNDER  ARTICLE  FIFTEEN-A  OF THE EXECUTIVE LAW AND SECTION
 THIRTEEN HUNDRED FOUR OF THE NEW YORK CITY CHARTER TO BE AWARDED SUCH  A
 CONTRACT;
   (5) A DULY APPOINTED REPRESENTATIVE OF THE TRUST DETERMINES IN WRITING
 THAT, BASED ON A MARKET ANALYSIS, ONLY ONE SOURCE FOR THE REQUIRED GOODS
 OR  SERVICES,  INCLUDING  BUT NOT LIMITED TO, SERVICES FOR CONSTRUCTION,
 RECONSTRUCTION, REHABILITATION, ALTERATION, RENOVATION, MAINTENANCE  AND
 REPAIRS, ARE AVAILABLE; OR
   (6)  THE  CONTRACT IS A CONTRACT BETWEEN THE TRUST AND ANOTHER GOVERN-
 MENTAL ENTITY, INCLUDING, BUT NOT LIMITED TO NYCHA.
   2. CONSTRUCTION PERFORMED UNDER A CONTRACT ENTERED INTO BY  THE  TRUST
 PURSUANT  TO  THIS ARTICLE SHALL BE DEEMED A PUBLIC WORK TO BE PERFORMED
 IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE EIGHT  OF  THE  LABOR  LAW,
 INCLUDING  BUT NOT LIMITED TO THE PREVAILING WAGE REQUIREMENTS SET FORTH
 IN SECTION TWO HUNDRED TWENTY OF THE LABOR LAW AND THE REPORTING,  MONI-
 TORING,  AND ENFORCEMENT PROVISIONS OF SUCH ARTICLE, AND FOR PROJECTS OR
 PUBLIC WORKS RECEIVING FEDERAL AID, APPLICABLE FEDERAL REQUIREMENTS  FOR
 PREVAILING  WAGE.  ANY  CONTRACT,  THE  PRINCIPAL PURPOSE OF WHICH IS TO
 PROVIDE CONSTRUCTION SERVICES AND THAT IS EITHER ENTERED INTO THROUGH  A
 COMPETITIVE  SEALED  BIDDING  PROCESS OR PURSUANT TO SECTION SIX HUNDRED
 THIRTY-FOUR OF THIS ARTICLE, AND UNDERTAKEN PURSUANT TO A PROJECT  LABOR
 AGREEMENT,  SHALL  INCLUDE  A  CLAUSE REQUIRING THE SELECTED ALTERNATIVE
 PROJECT DELIVERY CONTRACTOR OR THE CONTRACTOR SELECTED ON THE  BASIS  OF
 ITS  SEALED  BID  TO  OBLIGATE  EVERY  TIER OF CONTRACTOR WORKING ON THE
 PUBLIC WORK TO COMPLY WITH THE PROJECT  LABOR  AGREEMENT  REFERENCED  IN
 SECTION  SIX  HUNDRED  THIRTY-FOUR OF THIS ARTICLE AND THIS SECTION, AND
 SHALL INCLUDE PROJECT LABOR AGREEMENT COMPLIANCE MONITORING AND ENFORCE-
 MENT PROVISIONS CONSISTENT WITH ANY SUCH PROJECT LABOR AGREEMENT.
   3. CONTRACTS OF THE TRUST SHALL BE SUBJECT TO SECTIONS 6-108 AND 6-123
 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, AND THE TRUST  SHALL
 CONSTITUTE  A  "CONTRACTING AGENCY" FOR THE PURPOSES OF SECTION 6-123 OF
 THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   4. THE PROVISIONS OF SECTION ONE HUNDRED SIX-B OF THE GENERAL  MUNICI-
 PAL LAW SHALL APPLY TO THE TRUST.
   5.  THE  PROVISIONS OF SECTION ONE HUNDRED FIFTY-ONE-A OF THIS CHAPTER
 SHALL APPLY TO THE TRUST.
 A. 7805--D                         15
 
   6. UNLESS A FEDERAL REQUIREMENT CONFLICTS WITH ANY PROCUREMENT  PROCE-
 DURE  SET  FORTH  IN THIS ARTICLE, THE TRUST SHALL BE REQUIRED TO COMPLY
 WITH SUCH PROCEDURE.
   § 634. ALTERNATIVE PROJECT DELIVERY CONTRACTS. 1.  NOTWITHSTANDING ANY
 PROVISION  OF  LAW TO THE CONTRARY, INCLUDING BUT NOT LIMITED TO SECTION
 SEVENTY-TWO HUNDRED TEN OF THE EDUCATION LAW, AND IN CONFORMITY WITH THE
 REQUIREMENTS OF THIS ARTICLE, FOR ANY PUBLIC WORK UNDERTAKEN PURSUANT TO
 A PROJECT LABOR AGREEMENT THE TRUST MAY USE ALTERNATIVE PROJECT DELIVERY
 CONTRACTS, PROVIDED THAT THE AUTHORITY TO ADVERTISE A REQUEST FOR QUALI-
 FICATION IN ACCORDANCE WITH THIS SECTION SHALL EXPIRE FIVE  YEARS  AFTER
 THE EFFECTIVE DATE OF THIS SECTION.
   (A)  A  CONTRACTOR  SELECTED BY THE TRUST TO ENTER INTO AN ALTERNATIVE
 PROJECT DELIVERY CONTRACT MAY BE SELECTED THROUGH A TWO-STEP METHOD,  AS
 FOLLOWS:
   (1)  STEP  ONE.  THE  FIRST  STEP SHALL BE THE GENERATION OF A LIST OF
 RESPONDING ENTITIES THAT HAVE DEMONSTRATED  THE  GENERAL  CAPABILITY  TO
 PERFORM  THE  ALTERNATIVE  PROJECT  DELIVERY CONTRACT.   SUCH LIST SHALL
 CONSIST OF A SPECIFIED NUMBER OF RESPONDING ENTITIES, AS  DETERMINED  BY
 THE  TRUST,  AND  SHALL  BE  GENERATED  BASED UPON THE TRUST'S REVIEW OF
 RESPONSES TO A  PUBLICLY  ADVERTISED  REQUEST  FOR  QUALIFICATIONS.  THE
 TRUST'S  REQUEST  FOR QUALIFICATIONS SHALL INCLUDE A GENERAL DESCRIPTION
 OF THE PUBLIC WORK, THE MAXIMUM NUMBER  OF  RESPONDING  ENTITIES  TO  BE
 INCLUDED  ON  SUCH LIST, THE SELECTION CRITERIA TO BE USED AND THE RELA-
 TIVE WEIGHT OF EACH CRITERIA IN GENERATING  SUCH  LIST.  SUCH  SELECTION
 CRITERIA  SHALL  INCLUDE THE QUALIFICATIONS AND EXPERIENCE OF THE ENTITY
 OR TEAM OF ENTITIES, ORGANIZATION, DEMONSTRATED RESPONSIBILITY,  ABILITY
 OF THE ENTITY OR TEAM OF ENTITIES OR OF A MEMBER OR MEMBERS OF THE ENTI-
 TY OR TEAM OF ENTITIES TO COMPLY WITH APPLICABLE REQUIREMENTS, INCLUDING
 THE  PROVISIONS  OF  ARTICLES ONE HUNDRED FORTY-FIVE, ONE HUNDRED FORTY-
 SEVEN AND ONE HUNDRED FORTY-EIGHT OF THE EDUCATION LAW, PAST  RECORD  OF
 COMPLIANCE  WITH  THE LABOR LAW, AND SUCH OTHER QUALIFICATIONS THE TRUST
 DEEMS APPROPRIATE, WHICH MAY INCLUDE BUT  ARE  NOT  LIMITED  TO  PROJECT
 UNDERSTANDING,  FINANCIAL CAPABILITY AND RECORD OF PAST PERFORMANCE. THE
 TRUST SHALL EVALUATE AND RATE ALL RESPONDING ENTITIES TO THE REQUEST FOR
 QUALIFICATIONS. BASED UPON  SUCH  RATINGS,  THE  TRUST  SHALL  LIST  THE
 RESPONDING  ENTITIES  THAT  SHALL  RECEIVE  A  REQUEST  FOR PROPOSALS IN
 ACCORDANCE WITH SUBPARAGRAPH  TWO  OF  THIS  PARAGRAPH.  TO  THE  EXTENT
 CONSISTENT  WITH  APPLICABLE FEDERAL LAW, THE TRUST SHALL CONSIDER, WHEN
 AWARDING ANY CONTRACT PURSUANT TO THIS SECTION, THE PARTICIPATION OF (I)
 RESPONDING ENTITIES THAT ARE CERTIFIED AS MINORITY OR WOMEN OWNED  BUSI-
 NESS  ENTERPRISES PURSUANT TO ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW, OR
 CERTIFIED PURSUANT TO LOCAL LAW AS  MINORITY  OR  WOMEN  OWNED  BUSINESS
 ENTERPRISES,  (II) SMALL BUSINESS CONCERNS IDENTIFIED PURSUANT TO SUBDI-
 VISION (B) OF SECTION ONE HUNDRED THIRTY-NINE-G  OF  THE  STATE  FINANCE
 LAW, AND (III) BUSINESS CONCERNS THAT PROVIDE ECONOMIC OPPORTUNITIES FOR
 LOW  AND VERY LOW-INCOME PERSONS IN ACCORDANCE WITH SECTION THREE OF THE
 FEDERAL HOUSING AND URBAN DEVELOPMENT ACT  OF  NINETEEN  HUNDRED  SIXTY-
 EIGHT,  AS AMENDED, OR ANY SUCCESSOR PROVISION.  IN ADDITION, NOTHING IN
 THIS SECTION SHALL BE DEEMED TO SUPERSEDE ANY PREQUALIFICATION  POLICIES
 ADOPTED  BY  THE  TRUST  PURSUANT TO SECTION SIX HUNDRED THIRTY-THREE OF
 THIS ARTICLE.
   (2) STEP TWO. THE SECOND STEP SHALL BE THE SELECTION OF  THE  PROPOSAL
 WHICH  IS  THE  BEST VALUE TO THE TRUST. THE TRUST SHALL ISSUE A REQUEST
 FOR PROPOSALS TO THE RESPONDING ENTITIES LISTED PURSUANT TO SUBPARAGRAPH
 ONE OF THIS PARAGRAPH. IF SUCH A RESPONDING ENTITY CONSISTS OF A TEAM OF
 SEPARATE ENTITIES, THE ENTITIES THAT COMPRISE SUCH A TEAM  SHALL  REMAIN
 A. 7805--D                         16
 
 UNCHANGED  FROM THE RESPONDING ENTITY AS LISTED PURSUANT TO SUBPARAGRAPH
 ONE OF THIS PARAGRAPH  UNLESS  OTHERWISE  APPROVED  BY  THE  TRUST.  THE
 REQUEST  FOR  PROPOSALS SHALL SET FORTH THE PUBLIC WORK'S SCOPE OF WORK,
 AND  OTHER  REQUIREMENTS,  AS DETERMINED BY THE TRUST, WHICH MAY INCLUDE
 SEPARATE GOALS FOR WORK UNDER THE CONTRACT TO BE PERFORMED BY BUSINESSES
 CERTIFIED AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES  PURSUANT  TO
 ARTICLE  FIFTEEN-A  OF THE EXECUTIVE LAW, OR CERTIFIED PURSUANT TO LOCAL
 LAW AS MINORITY OR WOMEN OWNED BUSINESS  ENTERPRISES,  OR  GOALS  ESTAB-
 LISHED PURSUANT TO SECTION THREE OF THE FEDERAL HOUSING AND URBAN DEVEL-
 OPMENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED, OR ANY SUCCESSOR
 PROVISION,  IF  APPLICABLE. THE REQUEST FOR PROPOSALS SHALL ALSO SPECIFY
 THE CRITERIA TO BE USED TO  EVALUATE  THE  RESPONSES  AND  THE  RELATIVE
 WEIGHT OF EACH OF SUCH CRITERIA. SUCH CRITERIA SHALL INCLUDE:  THE QUAL-
 ITY OF THE PROPOSAL'S SOLUTION; THE QUALIFICATIONS AND EXPERIENCE OF THE
 PROPOSER;  THE  PROPOSAL'S  COST,  WHICH MAY INCLUDE FACTORS THAT MAY BE
 CONSIDERED INDIVIDUALLY OR IN THE AGGREGATE, SUCH AS THE  PROPOSED  COST
 OF  DESIGN  PHASE WORK, THE PROPOSED COST OF CONSTRUCTION PHASE WORK, OR
 COST FACTORS RELATING TO CONSTRUCTION PHASE  WORK,  AS  APPLICABLE;  AND
 OTHER  FACTORS  DEEMED  PERTINENT  BY  THE TRUST, WHICH MAY INCLUDE, BUT
 SHALL NOT BE LIMITED TO, THE PROPOSAL'S MANNER AND SCHEDULE  OF  PROJECT
 IMPLEMENTATION,  THE PROPOSER'S ABILITY TO COMPLETE THE WORK IN A TIMELY
 AND SATISFACTORY MANNER, MAINTENANCE COSTS OF THE COMPLETED PUBLIC WORK,
 MAINTENANCE OF TRAFFIC APPROACH, AND COMMUNITY IMPACT.   THE  TRUST  MAY
 ENGAGE  IN  NEGOTIATIONS OR OTHER DISCUSSIONS WITH ALL QUALIFIED VENDORS
 THAT HAVE EXPRESSED INTEREST, PROVIDED THAT THE TRUST MAINTAINS A  WRIT-
 TEN  RECORD  OF THE CONDUCT OF NEGOTIATIONS OR DISCUSSIONS AND THE BASIS
 FOR EVERY DETERMINATION TO CONTINUE OR SUSPEND NEGOTIATIONS, AND FURTHER
 PROVIDED THAT IF THE TRUST DETERMINES FOR A PARTICULAR CONTRACT OR FOR A
 PARTICULAR TYPE OF CONTRACT THAT IT IS IN THE TRUST'S BEST  INTEREST  TO
 NEGOTIATE  OR  ENTER  INTO DISCUSSIONS WITH FEWER PROPOSERS, IT MAY MAKE
 SUCH A DETERMINATION IN WRITING. IF THE TRUST ENTERS INTO  SUCH  NEGOTI-
 ATIONS,  THE  TRUST  SHALL ALLOW ALL PROPOSERS TO REVISE THEIR PROPOSALS
 UPON CONCLUSION OF NEGOTIATIONS, AND THE TRUST SHALL EVALUATE THE PROPO-
 SERS' REVISED PROPOSALS USING THE CRITERIA INCLUDED IN THE  REQUEST  FOR
 PROPOSALS.    ANY  CONTRACT  AWARDED  PURSUANT  TO THIS SECTION SHALL BE
 AWARDED TO A RESPONSIVE AND RESPONSIBLE PROPOSER,  WHICH,  IN  CONSIDER-
 ATION OF THESE AND OTHER SPECIFIED CRITERIA DEEMED PERTINENT, OFFERS THE
 BEST  VALUE  AS DETERMINED BY THE TRUST. THE REQUEST FOR PROPOSALS SHALL
 INCLUDE A STATEMENT THAT PROPOSERS  SHALL  DESIGNATE  IN  WRITING  THOSE
 PORTIONS OF THE PROPOSAL THAT CONTAIN TRADE SECRETS OR OTHER PROPRIETARY
 INFORMATION THAT ARE TO REMAIN CONFIDENTIAL, SO THAT THE MATERIAL DESIG-
 NATED  AS  CONFIDENTIAL  SHALL  BE  READILY SEPARABLE FROM THE PROPOSAL.
 NOTHING IN THIS SUBDIVISION SHALL BE CONSTRUED  TO  PROHIBIT  THE  TRUST
 FROM NEGOTIATING FINAL CONTRACT TERMS AND CONDITIONS INCLUDING COST. ALL
 PROPOSALS  SUBMITTED SHALL BE SCORED ACCORDING TO THE CRITERIA LISTED IN
 THE REQUEST FOR PROPOSALS AND SUCH FINAL SCORES SHALL  BE  PUBLISHED  ON
 THE  TRUST'S  WEBSITE  AFTER  THE  DATE  UPON WHICH SUCH CONTRACT MAY BE
 IMPLEMENTED.
   (B) THE TRUST, IN AWARDING AN ALTERNATIVE PROJECT DELIVERY CONTRACT TO
 A CONTRACTOR OFFERING THE BEST VALUE MAY  USE  THE  FOLLOWING  TYPES  OF
 CONTRACTS:
   (1)  A  COST-PLUS  NOT  TO  EXCEED  GUARANTEED  MAXIMUM  PRICE FORM OF
 CONTRACT IN WHICH THE TRUST SHALL BE ENTITLED TO MONITOR AND  AUDIT  ALL
 COSTS.  IN ESTABLISHING THE SCHEDULE AND PROCESS FOR DETERMINING A GUAR-
 ANTEED MAXIMUM PRICE, THE CONTRACT BETWEEN THE TRUST AND THE  CONTRACTOR
 SHALL  INCLUDE  TERMS  SPECIFYING  THE PRICE FOR THE DESIGN PHASE OF THE
 A. 7805--D                         17
 
 WORK, THE SCOPE OF THE WORK, AND ANY APPLICABLE COST FACTORS RELATING TO
 CONSTRUCTION PHASE WORK THAT WERE INCLUDED IN THE CONTRACTOR'S PROPOSAL.
 A FAIR AND REASONABLE GUARANTEED  MAXIMUM  PRICE  FOR  THE  CONSTRUCTION
 PHASE  OF THE  WORK, OR PORTIONS OF THE CONSTRUCTION PHASE OF THE  WORK,
 MAY BE AGREED TO AS ONE OR MORE AMENDMENTS TO  SUCH  CONTRACT  BASED  ON
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT THAT OCCUR AFTER SUCH CONTRACT
 IS  EXECUTED.  EACH  GUARANTEED  MAXIMUM  PRICE  AMENDMENT  SHALL:   (I)
 DESCRIBE THE SCOPE OF THE PORTION OF THE CONSTRUCTION PHASE WORK SUBJECT
 TO THE AMENDMENT, THE COST OF PERFORMING  SUCH  WORK,  AND  THE  MAXIMUM
 COSTS OF ANY CONTINGENCIES RELATED TO SUCH WORK, (II) INCLUDE A DETAILED
 LINE ITEM COST BREAKDOWN, (III) INCLUDE A LIST OF ALL DRAWINGS, SPECIFI-
 CATIONS  AND  OTHER INFORMATION ON WHICH THE GUARANTEED MAXIMUM PRICE IS
 BASED, (IV) INCLUDE THE DATES OF SUBSTANTIAL  AND  FINAL  COMPLETION  ON
 WHICH  THE  GUARANTEED  MAXIMUM  PRICE  IS BASED, AS APPLICABLE, AND (V)
 INCLUDE A SCHEDULE OF UNIT PRICES.  THE TRUST SHALL MAINTAIN  A  WRITTEN
 RECORD OF EACH GUARANTEED MAXIMUM PRICE AMENDMENT, WHICH SHALL INCLUDE A
 SUMMARY  OF  THE  NEGOTIATION  PROCESS AND A DESCRIPTION OF THE RELEVANT
 DEVELOPMENTS IN THE DESIGN OF THE PROJECT,  INDEPENDENT  COST  ESTIMATES
 PREPARED  BY OR ON BEHALF OF THE TRUST, AS REQUIRED PURSUANT TO A POLICY
 ESTABLISHED BY THE TRUST, THE CONTRACTOR'S  ACTUAL  COST  SCHEDULES  AND
 UNIT  PRICES,  AND  ANY  OTHER FACTORS THAT THE TRUST CONSIDERED. IF THE
 TRUST AND THE CONTRACTOR CANNOT AGREE UPON A  GUARANTEED  MAXIMUM  PRICE
 FOR  ONE  OR  MORE  PORTIONS  OF  CONSTRUCTION PHASE WORK, THE TRUST MAY
 DIRECT THE CONTRACTOR TO ASSIGN ALL OR  A  PORTION  OF  THE  DUTIES  AND
 RIGHTS  UNDER  SUCH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT TO ANOTHER
 RESPONSIVE AND RESPONSIBLE PROPOSER  PURSUANT  TO  SUBPARAGRAPH  TWO  OF
 PARAGRAPH  (A)  OF  THIS  SUBDIVISION THAT OFFERED THE BEST VALUE OF THE
 REMAINING PROPOSERS AND THAT WILL AGREE TO ACCEPT SUCH ASSIGNMENT.  THIS
 SUBPARAGRAPH  SHALL  NOT  BE  DEEMED TO PROHIBIT THE USE OF ANY CONTRACT
 TERMS OR PROCEDURES PURSUANT TO ANY OTHER PROVISION  OF  LAW,  INCLUDING
 BUT NOT LIMITED TO PROVISIONS INCLUDED IN THIS ARTICLE;
   (2) A LUMP SUM CONTRACT IN WHICH THE CONTRACTOR AGREES TO ACCEPT A SET
 DOLLAR  AMOUNT  FOR  A  CONTRACT  WHICH  COMPRISES  A SINGLE BID WITHOUT
 PROVIDING A COST BREAKDOWN FOR ALL COSTS SUCH AS FOR  EQUIPMENT,  LABOR,
 MATERIALS,  AS WELL AS SUCH CONTRACTOR'S PROFIT FOR COMPLETING ALL ITEMS
 OF WORK COMPRISING THE PUBLIC WORK;
   (3) INCENTIVE PAYMENTS IDENTIFIED IN THE  TEXT  OF  THE  CONTRACT  FOR
 PERFORMANCE OBJECTIVES; OR
   (4) A COMBINATION OF ELEMENTS OF THE CONTRACT TYPES LISTED HEREIN.
   2. ALL ALTERNATIVE PROJECT DELIVERY CONTRACTS ENTERED INTO PURSUANT TO
 THIS  SECTION  SHALL  INCLUDE  A  CLAUSE REQUIRING THAT ANY PROFESSIONAL
 SERVICES REGULATED BY  ARTICLES  ONE  HUNDRED  FORTY-FIVE,  ONE  HUNDRED
 FORTY-SEVEN  AND  ONE  HUNDRED FORTY-EIGHT OF THE EDUCATION LAW SHALL BE
 PERFORMED AND STAMPED AND SEALED, WHERE APPROPRIATE, BY  A  PROFESSIONAL
 LICENSED IN ACCORDANCE WITH THE APPROPRIATE ARTICLE.
   3.  THE  SUBMISSION  OF A PROPOSAL OR RESPONSES OR THE EXECUTION OF AN
 ALTERNATIVE PROJECT DELIVERY CONTRACT PURSUANT TO THIS ARTICLE SHALL NOT
 BE CONSTRUED TO BE A VIOLATION OF  SECTION  SIX  THOUSAND  FIVE  HUNDRED
 TWELVE OF THE EDUCATION LAW.
   4.  EACH  ALTERNATIVE  PROJECT  DELIVERY  CONTRACT ENTERED INTO BY THE
 TRUST PURSUANT TO THIS ARTICLE SHALL  COMPLY  WITH  THE  OBJECTIVES  AND
 GOALS RELATING TO THE PERFORMANCE OF DESIGN AND CONSTRUCTION SERVICES BY
 MINORITY  AND WOMEN OWNED BUSINESS ENTERPRISES PURSUANT TO SECTION 6-129
 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK, OR, FOR PROJECTS  OR
 PUBLIC  WORKS RECEIVING FEDERAL AID, APPLICABLE FEDERAL REQUIREMENTS FOR
 DISADVANTAGED BUSINESS ENTERPRISES OR MINORITY AND WOMEN OWNED  BUSINESS
 A. 7805--D                         18
 
 ENTERPRISES  AND SECTION THREE OF THE FEDERAL HOUSING AND URBAN DEVELOP-
 MENT ACT OF NINETEEN HUNDRED SIXTY-EIGHT, AS AMENDED, OR  ANY  SUCCESSOR
 PROVISION, IF APPLICABLE.
   5.  (A)  NOTWITHSTANDING  ANY  PROVISION  OF  LAW TO THE CONTRARY, ALL
 RIGHTS OR BENEFITS, INCLUDING TERMS AND CONDITIONS  OF  EMPLOYMENT,  AND
 PROTECTION  OF  CIVIL  SERVICE  AND  COLLECTIVE BARGAINING STATUS OF ALL
 EMPLOYEES OF NYCHA AND THE TRUST SOLELY IN CONNECTION WITH THE USE OF AN
 ALTERNATIVE PROJECT DELIVERY CONTRACT PURSUANT TO THIS SECTION SHALL  BE
 PRESERVED AND PROTECTED.
   (B) THE USE OF ALTERNATIVE PROJECT DELIVERY CONTRACTS PURSUANT TO THIS
 SECTION  SHALL  NOT  RESULT  IN  THE  (1)  DISPLACEMENT OF ANY CURRENTLY
 EMPLOYED  WORKER  OF  NYCHA  OR  LOSS  OF  POSITION,  INCLUDING  PARTIAL
 DISPLACEMENT  SUCH  AS  A  REDUCTION  IN THE HOURS OF NON-OVERTIME WORK,
 WAGES OR EMPLOYMENT BENEFITS, OR RESULT IN THE  IMPAIRMENT  OF  EXISTING
 COLLECTIVE  BARGAINING  AGREEMENTS  TO  WHICH  NYCHA  IS A PARTY, OR (2)
 TRANSFER OF EXISTING DUTIES AND FUNCTIONS  RELATED  TO  MAINTENANCE  AND
 OPERATIONS  CURRENTLY  PERFORMED  BY  EXISTING  EMPLOYEES  OF NYCHA TO A
 CONTRACTOR.
   (C) EMPLOYEES OF THE TRUST AND NYCHA SERVING  IN  POSITIONS  IN  NEWLY
 CREATED  TITLES  SHALL  BE  ASSIGNED TO THE APPROPRIATE BARGAINING UNIT.
 NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED TO AFFECT  (1)  THE
 EXISTING RIGHTS OF EMPLOYEES OF NYCHA PURSUANT TO AN EXISTING COLLECTIVE
 BARGAINING  AGREEMENT,  (2)  THE EXISTING REPRESENTATIONAL RELATIONSHIPS
 AMONG EMPLOYEE ORGANIZATIONS REPRESENTING EMPLOYEES OF NYCHA, OR (3) THE
 BARGAINING RELATIONSHIPS BETWEEN NYCHA AND SUCH EMPLOYEE ORGANIZATIONS.
   (D)  WITHOUT  LIMITING  CONTRACTORS'  OBLIGATIONS  UNDER   ALTERNATIVE
 PROJECT  DELIVERY CONTRACTS TO ISSUE THEIR OWN INITIAL CERTIFICATIONS OF
 SUBSTANTIAL COMPLETION AND FINAL COMPLETION,  PUBLIC  EMPLOYEES  OF  THE
 TRUST  SHALL REVIEW AND DETERMINE WHETHER THE WORK PERFORMED BY CONTRAC-
 TORS IS ACCEPTABLE AND HAS BEEN PERFORMED IN ACCORDANCE WITH THE  APPLI-
 CABLE ALTERNATIVE PROJECT DELIVERY CONTRACTS, AND IF SUCH PUBLIC EMPLOY-
 EES  SO  DETERMINE,  SUCH  PUBLIC  EMPLOYEES  SHALL  ACCEPT CONTRACTORS'
 SUBSTANTIAL OR FINAL COMPLETION  OF  THE  PUBLIC  WORKS  AS  APPLICABLE.
 PERFORMANCE  BY PUBLIC EMPLOYEES OF THE TRUST OF ANY REVIEW DESCRIBED IN
 THIS SUBDIVISION SHALL NOT BE CONSTRUED TO MODIFY OR LIMIT  CONTRACTORS'
 OBLIGATIONS TO PERFORM THE WORK IN STRICT ACCORDANCE WITH THE APPLICABLE
 ALTERNATIVE PROJECT DELIVERY CONTRACT OR THE CONTRACTORS' OR ANY SUBCON-
 TRACTORS' OBLIGATIONS OR LIABILITIES UNDER ANY LAW.
   §  635.  ADDITIONAL  AUTHORITY. THE PROCUREMENT AUTHORITY CONFERRED BY
 THIS ARTICLE SHALL NOT IMPACT OR IMPAIR, AND SHALL BE  IN  ADDITION  TO,
 THE  AUTHORITY  CONFERRED  BY THE NYCHA MODERNIZATION INVESTMENT ACT AND
 THE NEW YORK CITY PUBLIC WORKS INVESTMENT ACT.
   §  636.  ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE  PROJECT  DELIVERY
 CONTRACTS.  CONSTRUCTION  PERFORMED UNDER A CONTRACT ENTERED INTO BY THE
 TRUST PURSUANT TO THIS ARTICLE SHALL BE DEEMED A  "PUBLIC  WORK"  TO  BE
 PERFORMED  IN  ACCORDANCE  WITH  THE  PROVISIONS OF ARTICLE EIGHT OF THE
 LABOR LAW, INCLUDING BUT NOT LIMITED TO THE PREVAILING WAGE REQUIREMENTS
 SET FORTH IN SECTION TWO HUNDRED TWENTY OF THE LABOR LAW AND THE REPORT-
 ING, MONITORING, AND ENFORCEMENT PROVISIONS OF  ARTICLE  EIGHT  OF  SUCH
 LAW,  AS WELL AS SUBJECT TO SECTIONS TWO HUNDRED, TWO HUNDRED FORTY, TWO
 HUNDRED FORTY-ONE AND TWO HUNDRED FORTY-TWO OF THE LABOR  LAW,  AND  FOR
 PROJECTS  OR  PUBLIC  WORKS  RECEIVING  FEDERAL  AID, APPLICABLE FEDERAL
 REQUIREMENTS FOR PREVAILING WAGE. ANY CONTRACT ENTERED INTO PURSUANT  TO
 SECTION SIX HUNDRED THIRTY-FOUR OF THIS ARTICLE, AND UNDERTAKEN PURSUANT
 TO  A  PROJECT  LABOR  AGREEMENT,  SHALL  INCLUDE A CLAUSE REQUIRING THE
 SELECTED ALTERNATIVE PROJECT DELIVERY CONTRACTOR TO OBLIGATE EVERY  TIER
 A. 7805--D                         19
 
 OF  CONTRACTOR  WORKING  ON  THE  PUBLIC WORK TO COMPLY WITH THE PROJECT
 LABOR AGREEMENT REFERENCED IN SECTION SIX HUNDRED  THIRTY-FOUR  OF  THIS
 ARTICLE, AND SHALL INCLUDE PROJECT LABOR AGREEMENT COMPLIANCE MONITORING
 AND ENFORCEMENT PROVISIONS CONSISTENT WITH ANY SUCH PROJECT LABOR AGREE-
 MENT.
   §  637. BORROWING BY THE TRUST AND FOR ITS BENEFIT; EFFECTS OF CERTAIN
 DEFAULTS. 1. FOR THE PURPOSES OF THIS SECTION, THE TERM "PROJECT"  MEANS
 THE  ACQUISITION,  DEVELOPMENT,  DESIGN,  CONSTRUCTION,  RECONSTRUCTION,
 IMPROVEMENT, REHABILITATION, REPAIRING AND OPERATION OF HOUSING  FACILI-
 TIES.
   2.  THE  TRUST SHALL HAVE THE POWER AND IS HEREBY AUTHORIZED FROM TIME
 TO TIME TO ISSUE BONDS, NOTES OR OTHER OBLIGATIONS  IN  CONFORMITY  WITH
 APPLICABLE  PROVISIONS OF THE UNIFORM COMMERCIAL CODE, IN SUCH PRINCIPAL
 AMOUNTS AS IT MAY DETERMINE TO BE NECESSARY  TO  PAY  THE  COST  OF  ANY
 PROJECT  AND TO FUND RESERVES TO SECURE SUCH BONDS, NOTES OR OTHER OBLI-
 GATIONS, INCLUDING COSTS OF ISSUANCE AND  ANY  ADMINISTRATIVE  OR  INCI-
 DENTAL  EXPENSES  IN  CONNECTION  THEREWITH, PROVIDED THAT THE AGGREGATE
 PRINCIPAL AMOUNT OF SUCH BONDS, NOTES OR  OTHER  OBLIGATIONS  SHALL  NOT
 EXCEED  TEN BILLION DOLLARS PLUS A PRINCIPAL AMOUNT OF SUCH BONDS, NOTES
 OR OTHER OBLIGATIONS ISSUED (A) TO FUND ANY RELATED DEBT SERVICE RESERVE
 FUND, (B) TO PROVIDE CAPITALIZED INTEREST, AND (C) TO PROVIDE  FEES  AND
 OTHER CHARGES AND EXPENSES, INCLUDING UNDERWRITERS' DISCOUNT, RELATED TO
 THE  ISSUANCE  OF SUCH BONDS, NOTES OR OTHER OBLIGATIONS AND THE MAINTE-
 NANCE OF SUCH RESERVES.  THE TRUST SHALL HAVE THE  POWER  FROM  TIME  TO
 TIME TO REFUND ANY BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST BY THE
 ISSUANCE  OF NEW BONDS, NOTES OR OTHER OBLIGATIONS, AND MAY ISSUE BONDS,
 NOTES OR OTHER OBLIGATIONS PARTLY TO REFUND BONDS, NOTES OR OTHER  OBLI-
 GATIONS  OF THE TRUST THEN OUTSTANDING AND PARTLY TO PAY THE COST OF ANY
 PROJECT.  BONDS, NOTES OR OTHER OBLIGATIONS ISSUED BY THE TRUST SHALL BE
 PAYABLE AS MAY BE DESIGNATED IN THE RESOLUTION OF THE TRUST UNDER  WHICH
 THE  BONDS, NOTES OR OTHER OBLIGATIONS SHALL BE AUTHORIZED TO BE ISSUED,
 SUBJECT TO ANY AGREEMENTS WITH THE HOLDERS OF OUTSTANDING  BONDS,  NOTES
 OR  OTHER  OBLIGATIONS  PLEDGING  ANY PARTICULAR REVENUES OR MONEYS.  NO
 BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST OR ANY ENTITY REFERRED TO
 IN SUBDIVISION THIRTEEN OF SECTION SIX HUNDRED TWENTY-NINE OF THIS ARTI-
 CLE SHALL BE ISSUED OR INCURRED WITHOUT THE PRIOR  WRITTEN  APPROVAL  OF
 THE  DIRECTOR  OF  MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK, AND NO
 SUCH BONDS, NOTES OR OTHER OBLIGATIONS SHALL BE ISSUED FOR  THE  PURPOSE
 OF  REFINANCING ANY BONDS, NOTES OR OTHER OBLIGATIONS OF NYCHA, PROVIDED
 THAT THE PROCEEDS OF UP TO SIX HUNDRED MILLION  DOLLARS  OF  THE  BONDS,
 NOTES  OR  OTHER  OBLIGATIONS  OF THE TRUST OR ANY ENTITY REFERRED TO IN
 SUBDIVISION THIRTEEN OF SECTION SIX HUNDRED TWENTY-NINE OF THIS  ARTICLE
 MAY  BE  APPLIED TO THE PAYMENT OF OUTSTANDING DEBT INCURRED BY NYCHA IN
 CONNECTION WITH ONE OR MORE HOUSING FACILITIES, IN  FURTHERANCE  OF  THE
 PURPOSES OF THIS ARTICLE, INCLUDING, BUT NOT LIMITED TO, FOR THE PURPOSE
 OF PAYMENT OF OUTSTANDING ENERGY PERFORMANCE CONTRACT DEBT.
   3. THE TRUST SHALL BE AUTHORIZED TO OBTAIN INSURANCE, LETTERS OF CRED-
 IT  AND OTHER CREDIT OR LIQUIDITY FACILITIES RELATED TO ITS BONDS, NOTES
 OR OTHER OBLIGATIONS.
   4. THE BOARD MAY DELEGATE TO THE CHAIR OR THE PRESIDENT OF  THE  TRUST
 THE POWER TO SET THE FINAL TERMS OF BONDS, NOTES OR OTHER OBLIGATIONS.
   5.  WHENEVER THE TRUST SHALL DETERMINE THAT THE ISSUANCE OF ITS BONDS,
 NOTES OR OTHER OBLIGATIONS IS APPROPRIATE, THE TRUST SHALL MAKE A DETER-
 MINATION AS TO THE ARRANGEMENTS NECESSARY FOR THE ISSUANCE AND  SALE  OF
 SUCH  BONDS,  NOTES  OR OTHER OBLIGATIONS, INCLUDING THE UNDERWRITING OF
 SUCH BONDS, NOTES OR OTHER OBLIGATIONS THROUGH  THE  PUBLIC  OR  PRIVATE
 A. 7805--D                         20
 
 SALE  OF  SUCH BONDS, NOTES OR OTHER OBLIGATIONS, AND SUCH DETERMINATION
 SHALL INCLUDE COMPENSATION FOR SERVICES  RENDERED  AS  THE  TRUST  DEEMS
 APPROPRIATE.  SUCH  DETERMINATION  SHALL BE SET FORTH IN A RESOLUTION OF
 THE  TRUST, WHICH SHALL AUTHORIZE ISSUANCE OF SUCH BONDS, NOTES OR OTHER
 OBLIGATIONS.  THE BONDS, NOTES OR OTHER OBLIGATIONS SHALL BEAR  INTEREST
 AT  SUCH  FIXED OR VARIABLE RATES AND SHALL BE IN SUCH DENOMINATIONS, BE
 IN SUCH FORM, EITHER COUPON OR REGISTERED, BE SOLD  AT  SUCH  PUBLIC  OR
 PRIVATE  SALE,  BE  EXECUTED  IN  SUCH  MANNER, BE DENOMINATED IN UNITED
 STATES CURRENCY, BE PAYABLE IN SUCH MEDIUM OF PAYMENT, AT SUCH PLACE AND
 BE SUBJECT TO SUCH TERMS OF REDEMPTION AS THE TRUST MAY PROVIDE IN  SUCH
 RESOLUTION.
   6.  ANY  RESOLUTION  OR  RESOLUTIONS AUTHORIZING BONDS, NOTES OR OTHER
 OBLIGATIONS OR ANY ISSUE  OF  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  MAY
 CONTAIN  PROVISIONS WHICH MAY BE A PART OF THE CONTRACT WITH THE HOLDERS
 OF THE BONDS, NOTES OR OTHER OBLIGATIONS THEREBY AUTHORIZED AS TO:
   (A) PLEDGING ALL OR PART OF ITS REVENUES, INCLUDING, BUT  NOT  LIMITED
 TO,  PROJECT-BASED  OR TENANT-BASED ASSISTANCE PURSUANT TO SECTION EIGHT
 OF THE UNITED STATES HOUSING ACT OF NINETEEN  HUNDRED  THIRTY-SEVEN,  AS
 AMENDED,  OR  ANY  SUCCESSOR PROVISION, AND ASSISTANCE PROVIDED TO NYCHA
 PURSUANT TO SECTION NINE OF THE UNITED STATES HOUSING  ACT  OF  NINETEEN
 HUNDRED  THIRTY-SEVEN,  AS AMENDED, OR ANY SUCCESSOR PROVISION, TOGETHER
 WITH ANY OTHER MONEYS, SECURITIES OR CONTRACTS, TO SECURE THE PAYMENT OF
 THE BONDS, NOTES OR OTHER OBLIGATIONS, SUBJECT TO SUCH AGREEMENTS AS MAY
 THEN EXIST;
   (B) THE SETTING ASIDE OF RESERVES AND THE CREATION  OF  SINKING  FUNDS
 AND THE REGULATION AND DISPOSITION THEREOF;
   (C)  LIMITATIONS ON THE PURPOSE TO WHICH THE PROCEEDS FROM THE SALE OF
 BONDS, NOTES OR OTHER OBLIGATIONS MAY BE APPLIED;
   (D) LIMITATIONS ON THE ISSUANCE OF ADDITIONAL BONDS,  NOTES  OR  OTHER
 OBLIGATIONS, THE TERMS UPON WHICH ADDITIONAL BONDS, NOTES OR OTHER OBLI-
 GATIONS  MAY  BE ISSUED AND SECURED AND THE REFUNDING OF BONDS, NOTES OR
 OTHER OBLIGATIONS;
   (E) THE PROCEDURE, IF ANY, BY WHICH THE TERMS  OF  ANY  CONTRACT  WITH
 HOLDERS  OF BONDS, NOTES OR OTHER OBLIGATIONS MAY BE AMENDED OR ABROGAT-
 ED, INCLUDING THE PROPORTION OF HOLDERS OF BONDS, NOTES OR  OTHER  OBLI-
 GATIONS WHICH ARE NEEDED TO CONSENT THERETO AND THE MANNER IN WHICH SUCH
 CONSENT MAY BE GIVEN;
   (F)  VESTING  IN  A  BOND TRUSTEE OR TRUSTEES SUCH PROPERTIES, RIGHTS,
 POWERS AND DUTIES IN TRUST AS THE TRUST MAY DETERMINE; AND
   (G) DEFINING THE ACTS OR  OMISSIONS  TO  ACT  THAT  MAY  CONSTITUTE  A
 DEFAULT  IN  THE  OBLIGATIONS  AND DUTIES OF THE TRUST TO THE HOLDERS OF
 BONDS, NOTES OR OTHER OBLIGATIONS AND PROVIDING FOR THE RIGHTS AND REME-
 DIES OF THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS IN THE EVENT OF
 SUCH DEFAULT, INCLUDING AS A  MATTER  OF  RIGHT  THE  APPOINTMENT  OF  A
 RECEIVER,  PROVIDED, HOWEVER, THAT SUCH RIGHTS AND REMEDIES SHALL NOT BE
 INCONSISTENT WITH THE GENERAL LAWS OF THE STATE AND OTHER PROVISIONS  OF
 THIS ARTICLE.
   7. IN ADDITION TO THE POWERS HEREIN CONFERRED UPON THE TRUST TO SECURE
 ITS  BONDS,  NOTES  OR  OTHER OBLIGATIONS, THE TRUST SHALL HAVE POWER IN
 CONNECTION WITH THE ISSUANCE OF BONDS, NOTES  OR  OTHER  OBLIGATIONS  TO
 ENTER  INTO  SUCH  AGREEMENTS  FOR  THE BENEFIT OF THE HOLDERS OF BONDS,
 NOTES OR OTHER OBLIGATIONS AS THE TRUST MAY DEEM  NECESSARY,  CONVENIENT
 OR  DESIRABLE CONCERNING THE USE OR DISPOSITION OF ITS REVENUES OR OTHER
 MONEYS, INCLUDING THE ENTRUSTING, PLEDGING  OR  CREATION  OF  ANY  OTHER
 SECURITY INTEREST IN ANY SUCH REVENUES, MONEYS AND THE DOING OF ANY ACT,
 INCLUDING  REFRAINING FROM DOING ANY ACT, WHICH THE TRUST WOULD HAVE THE
 A. 7805--D                         21
 
 RIGHT TO DO IN THE ABSENCE OF SUCH  AGREEMENTS.  THE  TRUST  SHALL  HAVE
 POWER  TO ENTER INTO AMENDMENTS OF ANY SUCH AGREEMENTS WITHIN THE POWERS
 GRANTED TO THE TRUST BY THIS ARTICLE AND TO PERFORM SUCH AGREEMENTS. THE
 PROVISIONS  OF  ANY  SUCH  AGREEMENTS MAY BE MADE A PART OF THE CONTRACT
 WITH THE HOLDERS OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST.
   8. NOTWITHSTANDING ANY PROVISION OF THE UNIFORM COMMERCIAL CODE TO THE
 CONTRARY, ANY PLEDGE OF OR OTHER SECURITY INTEREST IN REVENUES,  MONEYS,
 ACCOUNTS, CONTRACT RIGHTS, GENERAL INTANGIBLE OR OTHER PERSONAL PROPERTY
 MADE  OR CREATED BY THE TRUST SHALL BE VALID, BINDING AND PERFECTED FROM
 THE TIME WHEN SUCH PLEDGE IS MADE OR OTHER  SECURITY  INTEREST  ATTACHES
 WITHOUT  ANY PHYSICAL DELIVERY OF THE COLLATERAL OR FURTHER ACT, AND THE
 LIEN OF ANY SUCH PLEDGE OR OTHER SECURITY INTEREST SHALL BE VALID, BIND-
 ING AND PERFECTED AGAINST ALL PARTIES HAVING CLAIMS OF ANY KIND IN TORT,
 CONTRACT OR OTHERWISE AGAINST THE TRUST IRRESPECTIVE OF WHETHER  OR  NOT
 SUCH  PARTIES  HAVE NOTICE THEREOF. NO INSTRUMENT BY WHICH SUCH A PLEDGE
 OR SECURITY INTEREST IS CREATED NOR  ANY  FINANCING  STATEMENT  NEED  BE
 RECORDED OR FILED.
   9.  WHETHER  OR NOT THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST
 ARE OF SUCH FORM AND CHARACTER AS TO BE NEGOTIABLE INSTRUMENTS UNDER THE
 TERMS OF THE UNIFORM COMMERCIAL CODE, THE BONDS, NOTES  OR  OTHER  OBLI-
 GATIONS ARE HEREBY MADE NEGOTIABLE INSTRUMENTS WITHIN THE MEANING OF AND
 FOR ALL THE PURPOSES OF THE UNIFORM COMMERCIAL CODE, SUBJECT ONLY TO THE
 PROVISIONS OF THE BONDS, NOTES OR OTHER OBLIGATIONS FOR REGISTRATION.
   10.  NEITHER  THE  MEMBERS OF THE BOARD NOR ANY PERSON EXECUTING BONDS
 SHALL BE LIABLE PERSONALLY THEREON OR BE SUBJECT TO ANY PERSONAL LIABIL-
 ITY OR ACCOUNTABILITY SOLELY BY REASON  OF  THE  ISSUANCE  THEREOF.  THE
 BONDS,  NOTES  OR  OTHER OBLIGATIONS OF THE TRUST SHALL NOT BE A DEBT OF
 NYCHA, THE CITY, OR THE STATE, AND NEITHER NYCHA, THE CITY NOR THE STATE
 SHALL BE LIABLE THEREON, NOR SHALL THEY BE  PAYABLE  OUT  OF  ANY  FUNDS
 OTHER  THAN  THOSE  OF  THE  TRUST, AND SUCH BONDS, NOTES OR OTHER OBLI-
 GATIONS SHALL CONTAIN ON THE FACE THEREOF A STATEMENT TO SUCH EFFECT.
   11. THE TRUST, SUBJECT TO SUCH AGREEMENTS WITH BONDHOLDERS AS THEN MAY
 EXIST, SHALL HAVE POWER TO PURCHASE BONDS, NOTES OR OTHER OBLIGATIONS OF
 THE TRUST OUT OF ANY MONEYS AVAILABLE THEREFOR, WHICH SHALL THEREUPON BE
 CANCELLED.
   12. NOTWITHSTANDING ANY PROVISION OF ARTICLE  TWELVE  OF  THE  PRIVATE
 HOUSING  FINANCE  LAW,  SECTION  TWENTY-NINE  HUNDRED SEVENTY-SIX OF THE
 PUBLIC AUTHORITIES LAW OR ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO THE
 CONTRARY, (A) THE PURPOSES OF THE  NEW  YORK  CITY  HOUSING  DEVELOPMENT
 CORPORATION  AND  ITS  POWERS  GRANTED  IN ARTICLE TWELVE OF THE PRIVATE
 HOUSING FINANCE LAW ALSO SHALL INCLUDE, SUBJECT TO THE PROVISIONS OF ANY
 CONTRACT WITH HOLDERS OF ITS BONDS,  NOTES  OR  OTHER  OBLIGATIONS,  THE
 MAKING  OF  LOANS  TO  THE TRUST AND ENTITIES REFERRED TO IN SUBDIVISION
 THIRTEEN OF SECTION SIX HUNDRED TWENTY-NINE OF  THIS  ARTICLE,  AND  (B)
 BONDS,  NOTES OR OTHER OBLIGATIONS OF THE NEW YORK CITY HOUSING DEVELOP-
 MENT CORPORATION ISSUED FOR, OR TO REFUND BONDS, NOTES  OR  OTHER  OBLI-
 GATIONS  ISSUED  FOR,  SUCH  PURPOSE  OR THE PURPOSES OF PAYING COSTS OF
 ISSUANCE THEREOF OR FUNDING RESERVES TO  SECURE  SUCH  BONDS,  NOTES  OR
 OTHER  OBLIGATIONS  (I) MAY BE SOLD WITHOUT ANY CONSULTATION OR APPROVAL
 OTHERWISE REQUIRED BY SUBDIVISION TWO OF SECTION SIX HUNDRED  FIFTY-FIVE
 OF  THE  PRIVATE  HOUSING FINANCE LAW, (II) SHALL NOT BE INCLUDED IN ANY
 CALCULATION  OF  OUTSTANDING  BONDS,  NOTES  OR  OTHER  OBLIGATIONS  FOR
 PURPOSES OF SECTION SIX HUNDRED FIFTY-SIX OF THE PRIVATE HOUSING FINANCE
 LAW  AND  SHALL  NOT  BE SECURED BY ANY CAPITAL RESERVE FUND ESTABLISHED
 PURSUANT THERETO, AND (III) SHALL NOT BE INCLUDED IN ANY CALCULATION  OF
 BONDS,  NOTES  OR  OTHER OBLIGATIONS ISSUED BY THE NEW YORK CITY HOUSING
 A. 7805--D                         22

 DEVELOPMENT CORPORATION FOR  PURPOSES  OF  SECTION  TWENTY-NINE  HUNDRED
 SEVENTY-SIX OF THE PUBLIC AUTHORITIES LAW.
   13.  IN  THE  EVENT  THAT ANY DEFAULT ON ANY BOND, NOTE OR OTHER OBLI-
 GATION THAT IS SECURED BY AN ASSIGNMENT OF, MORTGAGE ON,  PLEDGE  OF  OR
 OTHER  ENCUMBRANCE  ON ANY INTEREST OF THE TRUST, OR ANY ENTITY REFERRED
 TO IN SUBDIVISION THIRTEEN OF SECTION SIX HUNDRED  TWENTY-NINE  OF  THIS
 ARTICLE,  IN  ANY  HOUSING  FACILITIES,  HAS  OCCURRED AND IS CONTINUING
 BEYOND THE APPLICABLE CURE PERIOD, IF ANY, PROVIDED TO THE TRUST OR SUCH
 ENTITY IN THE INSTRUMENT GRANTING SUCH ASSIGNMENT, MORTGAGE,  PLEDGE  OR
 OTHER ENCUMBRANCE, NOTWITHSTANDING ANY PROVISION IN SUCH INSTRUMENT, ANY
 RIGHT  OF  THE BENEFICIARY OF SUCH INSTRUMENT TO OBTAIN SUCH INTEREST IN
 SUCH HOUSING FACILITIES AS A REMEDY TO ANY SUCH  DEFAULT  SHALL,  FOR  A
 PERIOD  ENDING THIRTY DAYS AFTER THE END OF SUCH CURE PERIOD, BE SUBJECT
 TO:
   (A) THE RIGHT OF THE CITY OF NEW YORK TO REMEDY, OR CAUSE TO BE  REME-
 DIED, SUCH DEFAULT; AND
   (B) THE RIGHT OF THE STATE OF NEW YORK TO REMEDY, OR CAUSE TO BE REME-
 DIED,  SUCH DEFAULT; PROVIDED, HOWEVER, THAT NOTHING IN THIS SUBDIVISION
 SHALL BE CONSTRUED TO IMPOSE ANY OBLIGATION ON THE CITY OF NEW  YORK  OR
 ON  THE  STATE  OF  NEW  YORK  TO  REMEDY, OR CAUSE TO BE REMEDIED, SUCH
 DEFAULT.
   14. NOTWITHSTANDING ANY DEFAULT  ON  ANY  OBLIGATION  REFERRED  TO  IN
 SUBDIVISION  THIRTEEN  OF  THIS SECTION, AND ANY REMEDIES EXERCISED AS A
 RESULT OF SUCH DEFAULT, PROVISIONS RELATING TO THE RESTRICTED USE OF THE
 HOUSING FACILITIES FOR THE PROVISION AND OPERATION OF HOUSING  FOR  LOW-
 INCOME  FAMILIES AND CURRENT RESIDENTS SHALL AT ALL TIMES CONTINUE TO BE
 IN EFFECT IN PERPETUITY, AND THE HOUSING FACILITIES SHALL REMAIN SUBJECT
 TO THE PROVISIONS OF SUBDIVISION FOUR OF SECTION SIX HUNDRED  THIRTY  OF
 THIS  ARTICLE  AND  SECTION  SIX HUNDRED THIRTY-ONE OF THIS ARTICLE. THE
 TRUST SHALL NOT PLEDGE THE FEE OWNERSHIP OF THE  HOUSING  FACILITIES  AS
 PART OF A FINANCING ARRANGEMENT.
   15.  AT  LEAST QUARTERLY, THE TRUST SHALL PROVIDE FINANCIAL REPORTS TO
 THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF NEW YORK CONTAINING
 SUCH INFORMATION AS THE DIRECTOR OF MANAGEMENT AND BUDGET OF THE CITY OF
 NEW YORK MAY REQUEST.
   § 638. RESOURCES OF THE TRUST. 1. SUBJECT TO THE  PROVISIONS  OF  THIS
 ARTICLE,  THE MEMBERS OF THE BOARD SHALL RECEIVE, ACCEPT, INVEST, ADMIN-
 ISTER, EXPEND AND DISBURSE FOR ITS CORPORATE PURPOSES ALL MONEY  OF  THE
 TRUST FROM WHATEVER SOURCES DERIVED INCLUDING (A) THE PROCEEDS OF BONDS,
 NOTES  AND  OTHER  OBLIGATIONS,  AND  (B)  ANY OTHER PAYMENTS, GIFTS, OR
 APPROPRIATIONS TO THE TRUST FROM ANY OTHER SOURCE.
   2. SUBJECT TO THE PROVISIONS OF ANY CONTRACT WITH  HOLDERS  OF  BONDS,
 NOTES  OR OTHER OBLIGATIONS, THE MONEY OF THE TRUST SHALL BE PAID TO THE
 TRUST AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEY. THE MONEY OF THE
 TRUST SHALL BE DEPOSITED IN ACCOUNTS HELD IN THE  TRUST'S  NAME  IN  THE
 BANK OR BANKS IN THE STATE DESIGNATED BY THE TRUST.
   3.  THE  MONEYS  IN  SUCH  ACCOUNTS SHALL BE PAID OUT ON CHECKS OF THE
 TRUST UPON REQUISITION BY THE CHAIR OR SUCH OFFICER OR OFFICERS  AS  THE
 TRUST  MAY  AUTHORIZE  TO  MAKE SUCH REQUISITIONS, OR PURSUANT TO A BOND
 RESOLUTION OR TRUST INDENTURE.
   4. ANY MONEYS ON DEPOSIT IN THE ACCOUNTS OF THE TRUST NOT REQUIRED FOR
 IMMEDIATE EXPENDITURE SHALL BE INVESTED IN OBLIGATIONS IN WHICH A  MUNI-
 CIPALITY  MAY  BE AUTHORIZED TO INVEST IN ACCORDANCE WITH SECTION ELEVEN
 OF THE GENERAL MUNICIPAL LAW, PROVIDED, HOWEVER, THAT SUCH  FUNDS  SHALL
 NOT  BE INVESTED IN INSTRUMENTS COMMONLY KNOWN AS REPURCHASE AGREEMENTS.
 THE TRUST SHALL HAVE THE POWER, NOTWITHSTANDING THE PROVISIONS  OF  THIS
 A. 7805--D                         23
 
 SECTION,  TO  CONTRACT  WITH  THE HOLDERS OF ANY OF ITS BONDS, NOTES AND
 OTHER OBLIGATIONS AS TO THE CUSTODY,  COLLECTION,  SECURING,  INVESTMENT
 AND  PAYMENT  OF  ANY  MONEY  OF THE TRUST OR ANY MONEY HELD IN TRUST OR
 OTHERWISE  FOR  THE  PAYMENT OF BONDS, NOTES AND OTHER OBLIGATIONS OR IN
 ANY WAY TO SECURE BONDS, NOTES AND OTHER OBLIGATIONS, AND TO  CARRY  OUT
 ANY SUCH CONTRACT.
   §  639.  LEGAL INVESTMENT AND DEPOSIT. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS OF THE TRUST ARE HEREBY MADE  SECURITIES  IN  WHICH  ALL  PUBLIC
 OFFICERS  AND  BODIES  OF THE STATE AND ALL PUBLIC CORPORATIONS, MUNICI-
 PALITIES AND MUNICIPAL SUBDIVISIONS, ALL INSURANCE COMPANIES AND ASSOCI-
 ATIONS AND OTHER PERSONS CARRYING ON AN INSURANCE BUSINESS,  ALL  BANKS,
 BANKERS, TRUST COMPANIES, SAVINGS BANKS AND SAVINGS ASSOCIATIONS INCLUD-
 ING  SAVINGS  AND  LOAN  ASSOCIATIONS,  BUILDING  AND LOAN ASSOCIATIONS,
 INVESTMENT COMPANIES AND OTHER PERSONS CARRYING ON A  BANKING  BUSINESS,
 ALL  ADMINISTRATORS,  CONSERVATORS,  GUARDIANS,  EXECUTORS, TRUSTEES AND
 OTHER FIDUCIARIES, AND ALL OTHER PERSONS WHATSOEVER WHO ARE NOW  OR  MAY
 HEREAFTER  BE  AUTHORIZED  TO INVEST IN BONDS OR IN OTHER OBLIGATIONS OF
 THE STATE, MAY PROPERLY AND LEGALLY INVEST FUNDS, INCLUDING CAPITAL,  IN
 THEIR  CONTROL  OR  BELONGING  TO  THEM. THE BONDS, NOTES OR OTHER OBLI-
 GATIONS ARE ALSO HEREBY MADE SECURITIES WHICH MAY BE DEPOSITED WITH  AND
 MAY  BE  RECEIVED BY ALL PUBLIC OFFICERS AND BODIES OF THE STATE AND ALL
 MUNICIPALITIES AND PUBLIC CORPORATIONS FOR ANY  PURPOSE  FOR  WHICH  THE
 DEPOSIT  OF BONDS, NOTES OR OTHER OBLIGATIONS OF THE STATE IS NOW OR MAY
 HEREAFTER BE AUTHORIZED.
   § 640. TAX EXEMPTION AND TAX CONTRACT BY THE STATE. 1.  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  OF  NEW YORK AND IS A PUBLIC PURPOSE. ACCORDINGLY, THE TRUST
 SHALL BE REGARDED AS PERFORMING AN ESSENTIAL  GOVERNMENTAL  FUNCTION  IN
 THE  EXERCISE  OF  THE POWERS CONFERRED UPON IT BY THIS ARTICLE, AND THE
 TRUST SHALL NOT BE REQUIRED TO PAY ANY FEES, TAXES, SPECIAL  AD  VALOREM
 LEVIES  OR ASSESSMENTS OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, FRAN-
 CHISE TAXES, SALES TAXES OR OTHER TAXES, UPON OR  WITH  RESPECT  TO  ANY
 PROPERTY  OWNED BY IT OR UNDER ITS JURISDICTION, CONTROL OR SUPERVISION,
 OR UPON THE USES THEREOF, OR UPON OR WITH RESPECT TO ITS  ACTIVITIES  OR
 OPERATIONS  IN FURTHERANCE OF THE POWERS CONFERRED UPON IT BY THIS ARTI-
 CLE, OR UPON OR WITH RESPECT TO ANY FARES, TOLLS, RENTALS, RATES, CHARG-
 ES, FEES, REVENUES OR OTHER INCOME RECEIVED BY THE TRUST.
   2. ANY BONDS, NOTES OR OTHER OBLIGATIONS ISSUED PURSUANT TO THIS ARTI-
 CLE TOGETHER WITH THE INCOME THEREFROM SHALL AT ALL TIMES BE EXEMPT FROM
 TAXATION.
   3. THE STATE HEREBY COVENANTS WITH THE PURCHASERS AND WITH ALL  SUBSE-
 QUENT  HOLDERS  AND  TRANSFEREES  OF  BONDS,  NOTES OR OTHER OBLIGATIONS
 ISSUED BY THE TRUST PURSUANT TO THIS ARTICLE, IN  CONSIDERATION  OF  THE
 ACCEPTANCE  OF  AND  PAYMENT  FOR THE BONDS, NOTES OR OTHER OBLIGATIONS,
 THAT THE BONDS, NOTES OR OTHER OBLIGATIONS OF THE TRUST ISSUED  PURSUANT
 TO  THIS  ARTICLE AND THE INCOME THEREFROM AND ALL REVENUES, MONIES, AND
 OTHER PROPERTY PLEDGED TO PAY OR TO SECURE THE PAYMENT  OF  SUCH  BONDS,
 NOTES OR OTHER OBLIGATIONS SHALL AT ALL TIMES BE FREE FROM TAXATION.
   §  641. ACTIONS AGAINST THE TRUST. 1. EXCEPT IN AN ACTION FOR WRONGFUL
 DEATH, NO ACTION OR PROCEEDING SHALL BE PROSECUTED OR MAINTAINED AGAINST
 THE TRUST FOR PERSONAL INJURY OR DAMAGE TO  REAL  OR  PERSONAL  PROPERTY
 ALLEGED  TO  HAVE BEEN SUSTAINED BY REASON OF THE NEGLIGENCE OR WRONGFUL
 ACT OF THE TRUST OR OF ANY  MEMBER  OF  THE  BOARD,  OFFICER,  AGENT  OR
 EMPLOYEE  THEREOF, UNLESS (A) IT SHALL APPEAR BY AND AS AN ALLEGATION IN
 THE COMPLAINT OR MOVING PAPERS THAT A NOTICE OF CLAIM  SHALL  HAVE  BEEN
 A. 7805--D                         24
 
 MADE  AND SERVED UPON THE TRUST, WITHIN THE TIME LIMIT PRESCRIBED BY AND
 IN COMPLIANCE WITH SECTION FIFTY-E OF THE GENERAL MUNICIPAL LAW, (B)  IT
 SHALL  APPEAR  BY AND AS AN ALLEGATION IN THE COMPLAINT OR MOVING PAPERS
 THAT  AT LEAST THIRTY DAYS HAVE ELAPSED SINCE THE SERVICE OF SUCH NOTICE
 AND THAT ADJUSTMENT OR PAYMENT THEREOF HAS BEEN  NEGLECTED  OR  REFUSED,
 AND  (C)  THE  ACTION OR PROCEEDING SHALL BE COMMENCED WITHIN THE PERIOD
 PROVIDED UNDER SECTION FIFTY-I OF THE GENERAL MUNICIPAL LAW.  AN  ACTION
 AGAINST  THE  TRUST  FOR WRONGFUL DEATH SHALL BE COMMENCED IN ACCORDANCE
 WITH THE NOTICE OF CLAIM AND TIME LIMITATION PROVISIONS OF TITLE  ELEVEN
 OF ARTICLE NINE OF THE PUBLIC AUTHORITIES LAW.
   2.  WHEREVER A NOTICE OF CLAIM IS SERVED UPON THE TRUST, IT SHALL HAVE
 THE RIGHT TO DEMAND AN EXAMINATION  OF  THE  CLAIMANT  RELATIVE  TO  THE
 OCCURRENCE  AND  EXTENT  OF  THE  INJURIES OR DAMAGES FOR WHICH CLAIM IS
 MADE, IN ACCORDANCE WITH THE PROVISIONS OF SECTION FIFTY-H OF THE GENER-
 AL MUNICIPAL LAW.
   3. THE TRUST MAY REQUIRE  ANY  PERSON  PRESENTING  FOR  SETTLEMENT  AN
 ACCOUNT  OR CLAIM FOR ANY CAUSE WHATSOEVER AGAINST THE TRUST TO BE SWORN
 BEFORE A MEMBER OF THE BOARD, COUNSEL OR AN ATTORNEY, OFFICER OR EMPLOY-
 EE THEREOF DESIGNATED FOR SUCH PURPOSE, CONCERNING SUCH ACCOUNT OR CLAIM
 AND WHEN SO SWORN, TO ANSWER ORALLY AS TO ANY  FACTS  RELATIVE  TO  SUCH
 ACCOUNT  OR  CLAIM.  THE  TRUST SHALL HAVE POWER TO SETTLE OR ADJUST ANY
 CLAIMS IN FAVOR OF OR AGAINST THE TRUST.
   4. THE RATE OF INTEREST TO BE PAID BY THE TRUST UPON ANY JUDGMENT  FOR
 WHICH IT IS LIABLE, OTHER THAN A JUDGMENT ON BONDS, NOTES OR OTHER OBLI-
 GATIONS,  SHALL NOT EXCEED THE RATE OF INTEREST ON JUDGMENTS AND ACCRUED
 CLAIMS AGAINST MUNICIPAL AUTHORITIES AS PROVIDED IN THE GENERAL  MUNICI-
 PAL  LAW.    INTEREST ON PAYMENTS OF PRINCIPAL OR INTEREST ON ANY BONDS,
 NOTES OR OTHER OBLIGATIONS IN DEFAULT SHALL ACCRUE AT THE RATE SPECIFIED
 IN THE GENERAL MUNICIPAL LAW UNTIL PAID OR OTHERWISE SATISFIED.
   5. THE VENUE OF EVERY  ACTION,  SUIT  OR  SPECIAL  PROCEEDING  BROUGHT
 AGAINST THE TRUST SHALL BE LAID IN THE COUNTY OF NEW YORK.
   §  642. CIVIL SERVICE AND PENSION SYSTEM MEMBERSHIP. 1. THE TRUST, FOR
 THE PURPOSE OF ADMINISTERING THE CIVIL SERVICE LAW, SHALL BE SUBJECT  TO
 THE  PROVISIONS  OF  THE  CIVIL  SERVICE  LAW  AND THE RULES OF THE CITY
 DEPARTMENT OF CITYWIDE ADMINISTRATIVE SERVICES OR ANY  SUCCESSOR  ACTING
 AS  THE  MUNICIPAL  COMMISSION  OF  THE CITY. THE PRESIDENT OF THE TRUST
 SHALL BE EMPOWERED TO ACT FOR THE  TRUST  IN  ALL  MATTERS  RELATING  TO
 COMPLIANCE WITH THIS SUBDIVISION.
   2.  WITH RESPECT TO PERSONS EMPLOYED BY NYCHA ON THE EFFECTIVE DATE OF
 THIS SECTION, THE TRUST AND NYCHA SHALL BE DEEMED TO BE THE SAME  PUBLIC
 EMPLOYER  ONLY  FOR  PURPOSES  OF TRANSFER OF EMPLOYMENT UNDER THE CIVIL
 SERVICE LAW, WHICH MAY BE MADE ONLY WITH THE APPROVAL OF THE  NYCHA  CEO
 AND THE PRESIDENT OF THE TRUST. NO CIVIL SERVICE RIGHT OF AN EMPLOYEE OF
 NYCHA  EMPLOYED  ON  THE  EFFECTIVE  DATE OF THIS ARTICLE SHALL BE LOST,
 IMPAIRED OR AFFECTED BY REASON OF THE ENACTMENT  OF  THIS  SECTION  INTO
 LAW.
   3.  ANY  PERSON  ON  AN  ELIGIBLE LIST FOR A POSITION WITH NYCHA SHALL
 CONTINUE TO HOLD SUCH POSITION ON SUCH LIST AND SHALL BE ENTITLED TO THE
 SAME CIVIL SERVICE RIGHTS. THE TRUST SHALL CONTINUE TO USE  ANY  NEW  OR
 EXISTING  CIVIL  SERVICE LISTS PROMULGATED BY THE DEPARTMENT OF CITYWIDE
 ADMINISTRATIVE SERVICES UNTIL SUCH TIME AS SUCCESSOR TITLES  ARE  ESTAB-
 LISHED.  EMPLOYEES  OF THE TRUST SHALL HAVE THE SAME RIGHTS AND BENEFITS
 AS EMPLOYEES OF NYCHA.
   4. ANY OFFICER OR EMPLOYEE OF NYCHA WHO IS TRANSFERRED  TO  THE  TRUST
 PURSUANT  TO  THIS  SECTION  AND  WHO AT THE TIME OF SUCH TRANSFER WAS A
 MEMBER OF THE NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM SHALL  CONTINUE
 A. 7805--D                         25
 
 TO  BE A MEMBER OF SUCH SYSTEM AS LONG AS HE OR SHE OR THEY CONTINUES IN
 SUCH SERVICE, AND SHALL CONTINUE TO HAVE ALL THE RIGHTS, PRIVILEGES  AND
 OBLIGATIONS  OF MEMBERSHIP IN SUCH SYSTEM. EMPLOYMENT BY THE TRUST SHALL
 CONSTITUTE  CITY-SERVICE  FOR THE PURPOSES OF CHAPTER ONE OF TITLE THIR-
 TEEN OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   § 643. COLLECTIVE NEGOTIATION. 1. THE  CITY  OF  NEW  YORK  COLLECTIVE
 BARGAINING LAW SHALL APPLY TO THE TRUST.
   2.  FOR  THE  PURPOSE OF ARTICLE FOURTEEN OF THE CIVIL SERVICE LAW AND
 THE NEW YORK CITY COLLECTIVE BARGAINING LAW, AS APPLICABLE,  THE  TRUST,
 ACTING  BY  AND  THROUGH ITS PRESIDENT, SHALL BE DEEMED TO BE THE PUBLIC
 EMPLOYER AND AS SUCH SHALL NEGOTIATE WITH AND ENTER INTO WRITTEN  AGREE-
 MENTS  WITH  EMPLOYEE  ORGANIZATIONS REPRESENTING THE STAFF OF THE TRUST
 THAT HAVE BEEN CERTIFIED OR RECOGNIZED  IN  ACCORDANCE  WITH  APPLICABLE
 LAW.    IN CARRYING ON SUCH NEGOTIATIONS, THE PRESIDENT OF THE TRUST MAY
 CONSULT WITH AND SEEK ASSISTANCE FROM THE CITY OFFICE OF LABOR RELATIONS
 AND NYCHA. THE PRESIDENT OF THE TRUST SHALL CONSULT WITH THE APPROPRIATE
 PUBLIC EMPLOYEE ORGANIZATION ON THE ESTABLISHMENT OF,  AND  BARGAIN  ALL
 TERMS  AND CONDITIONS OF, ANY NEW TITLES ESTABLISHED FOR THE TRUST WHICH
 HAVE A COMMUNITY OF INTEREST WITH  TITLES  ALREADY  REPRESENTED  BY  THE
 PUBLIC  EMPLOYEE  ORGANIZATION WHICH PRESENTLY HAS REPRESENTATION RIGHTS
 FOR THOSE TITLES FOR NYCHA OR FOR THE CITY. ANY SUCH  TITLES  FOR  WHICH
 TERMS AND CONDITIONS ARE BARGAINED PURSUANT TO THIS SUBDIVISION SHALL BE
 DEEMED  TO BE SUCCESSOR TITLES WITHIN THE MEANING OF APPLICABLE LAW AND,
 SO LONG AS THE RESPONSIBILITIES OF EMPLOYEES IN THESE TITLES ARE REASON-
 ABLY RELATED TO THE RESPONSIBILITIES OF EMPLOYEES CURRENTLY  REPRESENTED
 BY  A PUBLIC EMPLOYEE ORGANIZATION, SHALL BE ACCRETED TO THE APPROPRIATE
 BARGAINING CERTIFICATES FOR  WHICH  SUCH  PUBLIC  EMPLOYEE  ORGANIZATION
 SHALL BE VOLUNTARILY RECOGNIZED AS THE BARGAINING AGENT UNDER PROCEDURES
 ACCEPTABLE TO THE OFFICE OF COLLECTIVE BARGAINING.
   § 644. APPLICATION OF STATE AND LOCAL HUMAN RIGHTS LAWS. NOTWITHSTAND-
 ING  ANY PROVISION OF LAW TO THE CONTRARY, ARTICLE FIFTEEN OF THE EXECU-
 TIVE LAW AND TITLE EIGHT OF THE ADMINISTRATIVE CODE OF THE CITY  OF  NEW
 YORK SHALL APPLY TO THE TRUST.
   §  645.  LIMITED  LIABILITY.  1.  AS  USED  IN  THIS SECTION, THE TERM
 "EMPLOYEE" SHALL MEAN THE MEMBERS OF  THE  BOARD,  PRESIDENT,  OFFICERS,
 EMPLOYEES,  OR  A  FORMER  EMPLOYEE,  HIS  OR  HER  ESTATE OR JUDICIALLY
 APPOINTED PERSONAL REPRESENTATIVE.
   2. NEITHER THE MEMBERS OF THE BOARD NOR ANY OFFICERS  OR  EMPLOYEE  OF
 THE  TRUST  ACTING  ON  BEHALF THEREOF, WHILE ACTING WITHIN THE SCOPE OF
 SUCH PERSON'S AUTHORITY, SHALL BE SUBJECT  TO  ANY  LIABILITY  RESULTING
 FROM CARRYING OUT ANY OF THE POWERS EXPRESSLY GIVEN IN THIS ARTICLE.
   3. AT THE REQUEST OF THE EMPLOYEE, AND UPON COMPLIANCE BY THE EMPLOYEE
 WITH  THE  PROVISIONS  OF  THIS SECTION, THE TRUST SHALL PROVIDE FOR THE
 DEFENSE OF AN EMPLOYEE IN ANY CIVIL ACTION OR PROCEEDING IN ANY STATE OR
 FEDERAL COURT, ARISING OUT OF ANY ALLEGED  ACT  OR  OMISSION  WHICH  THE
 TRUST  FINDS  OCCURRED WHILE THE EMPLOYEE WAS ACTING WITHIN THE SCOPE OF
 HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF HIS OR  HER  PUBLIC
 DUTIES  AND  WAS NOT IN VIOLATION OF ANY RULE OR REGULATION OF THE TRUST
 AT THE TIME THE ALLEGED ACT OR OMISSION OCCURRED. THIS DUTY  TO  PROVIDE
 FOR  A  DEFENSE  AND  INDEMNIFICATION  SHALL  NOT ARISE WHERE SUCH CIVIL
 ACTION OR PROCEEDING IS BROUGHT BY OR ON BEHALF OF THE TRUST AGAINST THE
 EMPLOYEE.
   4. THE TRUST SHALL INDEMNIFY AND HOLD HARMLESS ITS  EMPLOYEES  IN  THE
 AMOUNT  OF  ANY  CIVIL  JUDGMENT  OBTAINED AGAINST SUCH EMPLOYEES IN ANY
 STATE OR FEDERAL COURT, OR IN THE AMOUNT OF ANY SETTLEMENT  OF  A  CLAIM
 APPROVED  BY THE TRUST PROVIDED THAT THE ACT OR OMISSION FROM WHICH SUCH
 A. 7805--D                         26
 
 JUDGMENT OR SETTLEMENT AROSE OCCURRED  WHILE  THE  EMPLOYEE  WAS  ACTING
 WITHIN THE SCOPE OF HIS OR HER PUBLIC EMPLOYMENT AND IN THE DISCHARGE OF
 HIS  OR  HER PUBLIC DUTIES AND WAS NOT IN VIOLATION OF ANY RULE OR REGU-
 LATION  OF THE TRUST AT THE TIME THE ALLEGED DAMAGES WERE SUSTAINED. THE
 DUTY TO INDEMNIFY AND HOLD HARMLESS PRESCRIBED BY THIS SECTION SHALL NOT
 ARISE WHERE THE INJURY OR DAMAGE RESULTED FROM AN  INTENTIONAL  WRONGDO-
 ING,  OR  RECKLESSNESS  ON  THE  PART  OF  THE EMPLOYEE. NOTHING IN THIS
 SECTION SHALL AUTHORIZE THE TRUST  TO  INDEMNIFY  OR  HOLD  HARMLESS  AN
 EMPLOYEE  WITH RESPECT TO PUNITIVE OR EXEMPLARY DAMAGES, FINES OR PENAL-
 TIES.
   5. THE DUTY TO DEFEND AND INDEMNIFY AND HOLD  HARMLESS  PRESCRIBED  BY
 THIS  SECTION  SHALL BE CONDITIONED UPON (A) DELIVERY BY THE EMPLOYEE TO
 THE PRESIDENT OR GENERAL COUNSEL OF THE TRUST AT THE OFFICE OF THE TRUST
 OF THE ORIGINAL OR A COPY OF ANY  SUMMONS,  COMPLAINT,  CLAIM,  PROCESS,
 NOTICE,  DEMAND OR PLEADING WITHIN TEN DAYS AFTER THE EMPLOYEE IS SERVED
 WITH SUCH DOCUMENT, AND (B) THE FULL COOPERATION OF THE EMPLOYEE IN  THE
 DEFENSE  OF  SUCH  ACTION  OR PROCEEDING AND IN DEFENSE OF ANY ACTION OR
 PROCEEDING AGAINST THE TRUST BASED UPON THE SAME ACT OR OMISSION, AND IN
 THE PROSECUTION OF ANY APPEAL.  SUCH DELIVERY SHALL BE DEEMED A  REQUEST
 BY  THE  EMPLOYEE THAT THE TRUST PROVIDE FOR HIS OR HER DEFENSE PURSUANT
 TO THIS SECTION. IN THE EVENT THAT THE TRUST SHALL ASSUME AN  EMPLOYEE'S
 DEFENSE AND THEREAFTER THE EMPLOYEE FAILS OR REFUSES TO COOPERATE IN THE
 FORMATION  OR PRESENTATION OF HIS OR HER DEFENSE, THE COURT SHALL PERMIT
 THE TRUST TO WITHDRAW ITS REPRESENTATION TEN DAYS AFTER  GIVING  WRITTEN
 NOTICE  TO  THE  EMPLOYEE OF ITS INTENTION TO DISCONTINUE SUCH REPRESEN-
 TATION.
   6. IN THE EVENT THAT THE ACT OR OMISSION UPON WHICH THE COURT PROCEED-
 ING AGAINST THE EMPLOYEE IS BASED WAS OR IS ALSO THE BASIS OF  A  DISCI-
 PLINARY PROCEEDING BY THE TRUST AGAINST THE EMPLOYEE, REPRESENTATION AND
 INDEMNIFICATION BY THE TRUST, AS SET FORTH IN THIS SECTION, MAY BE WITH-
 HELD  (A)  UNTIL SUCH DISCIPLINARY PROCEEDING HAS BEEN RESOLVED, AND (B)
 UNLESS THE RESOLUTION OF  THE  DISCIPLINARY  PROCEEDING  EXONERATED  THE
 EMPLOYEE AS TO SUCH ACT OR OMISSION.
   7.  SUBJECT TO THE CONDITIONS SET FORTH IN THIS SECTION, SUCH EMPLOYEE
 SHALL BE ENTITLED TO REPRESENTATION BY THE GENERAL COUNSEL OF THE  TRUST
 OR  BY  ANY  ATTORNEY  OR  ATTORNEYS  DESIGNATED BY THE GENERAL COUNSEL,
 PROVIDED, HOWEVER, THAT THE EMPLOYEE SHALL BE ENTITLED TO BE REPRESENTED
 BY PRIVATE COUNSEL OF HIS OR HER CHOICE IN ANY CIVIL ACTION OR  PROCEED-
 ING  WHENEVER THE TRUST DETERMINES THAT REPRESENTATION WOULD BE INAPPRO-
 PRIATE, OR WHENEVER A COURT, UPON APPROPRIATE MOTION OR OTHERWISE  BY  A
 SPECIAL  PROCEEDING,  DETERMINES  THAT A CONFLICT OF INTEREST EXISTS AND
 THAT THE EMPLOYEE IS ENTITLED TO BE REPRESENTED BY  PRIVATE  COUNSEL  OF
 THE EMPLOYEE'S CHOICE. THE GENERAL COUNSEL OF THE TRUST SHALL NOTIFY THE
 EMPLOYEE  IN WRITING OF SUCH DETERMINATION THAT THE EMPLOYEE IS ENTITLED
 TO BE REPRESENTED BY PRIVATE COUNSEL. PROVIDED, HOWEVER, THAT THE  TRUST
 MAY  REQUIRE, AS A CONDITION TO PAYMENT OF THE FEES AND EXPENSES OF SUCH
 REPRESENTATION, THAT APPROPRIATE GROUPS OF SUCH EMPLOYEES BE REPRESENTED
 BY THE SAME COUNSEL. REASONABLE ATTORNEYS' FEES AND LITIGATION  EXPENSES
 SHALL  BE  PAID  BY  THE TRUST TO SUCH PRIVATE COUNSEL FROM TIME TO TIME
 DURING THE PENDENCY OF A CIVIL ACTION OR PROCEEDING.
   8. ANY DISPUTE WITH RESPECT TO REPRESENTATION OF MULTIPLE EMPLOYEES BY
 A SINGLE COUNSEL OR THE REASONABLENESS OF ATTORNEYS' FEES OR THE  AMOUNT
 OF  LITIGATION EXPENSES SHALL BE RESOLVED BY THE COURT UPON MOTION OR BY
 WAY OF A SPECIAL PROCEEDING.
   9. THE BENEFITS OF THIS SECTION  SHALL  INURE  ONLY  TO  EMPLOYEES  AS
 DEFINED  IN THIS SECTION AND SHALL NOT ENLARGE OR DIMINISH THE RIGHTS OF
 A. 7805--D                         27
 
 ANY OTHER PARTY NOR SHALL ANY PROVISION OF THIS SECTION BE CONSTRUED  TO
 AFFECT, ALTER OR REPEAL ANY PROVISION OF THE WORKERS' COMPENSATION LAW.
   10.  THE  PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY
 TO IMPAIR, ALTER, LIMIT OR MODIFY THE  RIGHTS  AND  OBLIGATIONS  OF  ANY
 INSURER UNDER ANY POLICY OF INSURANCE.
   11.  EXCEPT  AS  OTHERWISE  SPECIFICALLY PROVIDED IN THIS SECTION, THE
 PROVISIONS OF THIS SECTION SHALL NOT BE CONSTRUED IN ANY WAY TO  IMPAIR,
 ALTER,  LIMIT, MODIFY, ABROGATE OR RESTRICT ANY IMMUNITY AVAILABLE TO OR
 CONFERRED UPON ANY UNIT, ENTITY, MEMBER,  OFFICER  OR  EMPLOYEE  OF  THE
 TRUST,  OR  ANY  RIGHT  TO  DEFENSE  OR INDEMNIFICATION PROVIDED FOR ANY
 MEMBER, OFFICER OR EMPLOYEE BY, IN ACCORDANCE WITH, OR BY REASON OF, ANY
 OTHER PROVISION OF STATE, FEDERAL OR LOCAL LAW OR COMMON LAW.
   12. EVERY ACTION OR PROCEEDING INSTITUTED PURSUANT TO  THE  PROVISIONS
 OF  THIS  SECTION  SHALL  BE  COMMENCED  PURSUANT TO SECTION SIX HUNDRED
 FORTY-ONE OF THIS ARTICLE, AND SUBJECT TO ANY  CONDITION  OR  LIMITATION
 SET FORTH IN SUCH SECTION.
   13.  THE  PROVISIONS  OF  THIS  SECTION SHALL APPLY TO THE ACTIONS AND
 PROCEEDINGS SET FORTH HEREIN NOTWITHSTANDING ANY INCONSISTENT PROVISIONS
 OF STATE OR LOCAL LAW.
   § 646. AUDIT AND ANNUAL REPORTS. THE  TRUST  SHALL  HAVE  AN  INTERNAL
 AUDIT FUNCTION AND SHALL ANNUALLY PREPARE AND SUBMIT REPORTS AS REQUIRED
 BY  THIS  SECTION,  PROVIDED THAT NO REPORT SHALL BE REQUIRED DURING THE
 EARLIER OF THE FIRST YEAR AFTER THE TRUST COMMENCES  ITS  OPERATIONS  OR
 ONE YEAR AND NINE MONTHS AFTER THE EFFECTIVE DATE OF THIS SECTION.
   1.  WITHIN ONE ONE HUNDRED TWENTY DAYS OF THE END OF THE CITY'S FISCAL
 YEAR, THE TRUST SHALL SUBMIT TO THE MAYOR OF THE  CITY,  THE  RECOGNIZED
 CITYWIDE COUNCIL OF PRESIDENTS, OR AN EQUIVALENT SUCCESSOR BODY, AND THE
 NYCHA BOARD A REPORT ON ITS OPERATIONS DURING SUCH FISCAL YEAR. AN ANNU-
 AL  AUDIT  OF  THE  TRUST SHALL BE CONDUCTED BY AN INDEPENDENT CERTIFIED
 PUBLIC ACCOUNTANT,  AND  THE  TRUST'S  INDEPENDENTLY  AUDITED  FINANCIAL
 STATEMENTS  SHALL  BE  INCLUDED  IN  THIS  REPORT. THE REPORT SHALL ALSO
 DETAIL THE EXTENT OF COMPLETION OF ALL PROJECTS FOR DEVELOPMENT, DESIGN,
 CONSTRUCTION, RECONSTRUCTION, IMPROVEMENT, REHABILITATION, REPAIRING AND
 OPERATION OF  HOUSING  FACILITIES,  INCLUDING,  BY  PROJECT,  IDENTIFIED
 SHORTFALLS  IN  SCHEDULE  PERFORMANCE AND PROVIDING EXPLANATION FOR SUCH
 SHORTFALLS. SUCH REPORT SHALL DETAIL THE EXTENT OF COMPLETION AS EXISTED
 ON THE LAST DAY OF THE  CITY'S  FISCAL  YEAR.  SUCH  REPORT  SHALL  ALSO
 INCLUDE  A  DESCRIPTION  OF  EACH ALTERNATIVE PROJECT DELIVERY CONTRACT,
 INFORMATION REGARDING THE PROCUREMENT PROCESS FOR EACH SUCH  ALTERNATIVE
 PROJECT DELIVERY CONTRACT INCLUDING THE LIST OF RESPONDING ENTITIES THAT
 DEMONSTRATED  THE GENERAL CAPABILITY TO PERFORM SUCH ALTERNATIVE PROJECT
 DELIVERY CONTRACT PURSUANT  TO  PARAGRAPH  (A)  OF  SUBDIVISION  ONE  OF
 SECTION  SIX HUNDRED THIRTY-FOUR OF THIS ARTICLE, THE TOTAL COST OF EACH
 ALTERNATIVE PROJECT DELIVERY CONTRACT, AN EXPLANATION OF  THE  ESTIMATED
 SAVINGS  ATTRIBUTABLE  FROM  THE  ALTERNATIVE  PROJECT DELIVERY CONTRACT
 STRUCTURE USED, AND THE PARTICIPATION RATE OF AND TOTAL DOLLAR VALUE  OF
 MONIES  PAID TO MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES UNDER SUCH
 CONTRACT. SUCH REPORT SHALL ALSO INCLUDE A DESCRIPTION OF THE EMPLOYMENT
 AND OTHER ECONOMIC OPPORTUNITIES DIRECTED TO RESIDENTS  OF  THE  HOUSING
 FACILITIES,  SUCH  AS  REPORTING RELATED TO SECTION THREE OF THE FEDERAL
 HOUSING AND URBAN DEVELOPMENT ACT OF NINETEEN  HUNDRED  SIXTY-EIGHT,  AS
 AMENDED, PURSUANT TO SUBDIVISION THREE OF SECTION SIX HUNDRED THIRTY-ONE
 OF  THIS  ARTICLE.   SUCH REPORT SHALL ALSO INCLUDE (I) AN ASSESSMENT OF
 THE EFFECTIVENESS OF INTERNAL CONTROLS, (II) ORGANIZATION  CHART,  (III)
 SALARY  INFORMATION  FOR  ALL  EMPLOYEES, (IV) DEBT ISSUANCE INFORMATION
 (INCLUDING OUTSTANDING DEBT AND ANY NEW DEBT  TO  BE  ISSUED,  COSTS  OF
 A. 7805--D                         28
 
 ISSUANCE  DATA,  BONDS REDEEMED), (V) CERTAIN SUMMARY FINANCIAL INFORMA-
 TION, INCLUDING RECEIPTS  AND  DISBURSEMENTS,  AS  WELL  AS  ASSETS  AND
 LIABILITIES,  (VI) ANNUAL PROCUREMENT REPORT, (VII) INVESTMENT OF AGENCY
 FUNDS  INFORMATION,  (VIII)  INFORMATION  REGARDING  THE  DISPOSITION OF
 TENANT COMPLAINTS, MAINTENANCE OF APARTMENTS AND FACILITIES,  AND  OTHER
 INFORMATION  PERTAINING  TO  THE  RIGHTS  OF  TENANTS TO REMAIN IN THEIR
 APARTMENT; AND (IX) INFORMATION REGARDING THE LEVEL OF OUTREACH TO,  AND
 PARTICIPATION OF, RESIDENTS RELATED TO THE TRUST.  THE TRUST SHALL TRAN-
 SMIT THE PORTION OF SUCH REPORT RELATING TO ALTERNATIVE PROJECT DELIVERY
 CONTRACTS TO THE GOVERNOR, THE TEMPORARY PRESIDENT OF THE SENATE AND THE
 SPEAKER OF THE ASSEMBLY.  SUCH REPORT SHALL BE MADE PUBLICLY AVAILABLE.
   2.  ON  THE  LAST  BUSINESS DAY IN NOVEMBER OF EACH CALENDAR YEAR, THE
 TRUST SHALL SUBMIT A REPORT DESCRIBING ITS STRATEGIC PLANNING  FRAMEWORK
 FOR THE UPCOMING CALENDAR YEAR TO THE MAYOR OF THE CITY AND TO THE NYCHA
 BOARD.  SUCH REPORT SHALL DESCRIBE ANY CAPITAL IMPROVEMENTS TO BE UNDER-
 TAKEN AND THE APPROXIMATE COSTS OF SUCH IMPROVEMENTS AND  SHALL  PROVIDE
 INFORMATION  REGARDING  OPERATIONS, PROGRAMS, AND SERVICES OF THE TRUST.
 THE TRUST SHALL PRESENT A DRAFT OF THIS REPORT AT A MEETING OF THE BOARD
 SCHEDULED TO OCCUR NO LESS THAN FORTY-FIVE CALENDAR DAYS  PRIOR  TO  THE
 LAST BUSINESS DAY IN NOVEMBER. THE TRUST SHALL MAKE SUCH DRAFT AVAILABLE
 FOR  PUBLIC  REVIEW NO LESS THAN FIFTEEN CALENDAR DAYS BEFORE SUCH MEET-
 ING. THE TRUST SHALL OFFER THE PUBLIC AN  OPPORTUNITY  TO  PROVIDE  ORAL
 COMMENT  ON THE REPORT AT SUCH MEETING AND TO SUBMIT WRITTEN COMMENTS TO
 THE TRUST UNTIL A SPECIFIED DATE PRIOR TO THE DATE ON WHICH  THE  REPORT
 IS FINALIZED. THE TRUST SHALL CONSIDER ALL COMMENTS RECEIVED DURING SUCH
 PERIOD PRIOR TO FINALIZING THE REPORT REQUIRED BY THIS SUBDIVISION.
   §  647.  JURISDICTION  OVER  TRUST. 1. THE TRUST SHALL NOT BE DEEMED A
 "COVERED ORGANIZATION" AS DEFINED IN THE NEW YORK STATE FINANCIAL  EMER-
 GENCY ACT FOR THE CITY OF NEW YORK.
   2.  THE DEPARTMENT OF INVESTIGATION OF THE CITY SHALL BE AUTHORIZED TO
 CONDUCT INVESTIGATIONS RELATING TO THE TRUST PURSUANT TO  CHAPTER  THIR-
 TY-FOUR OF THE NEW YORK CITY CHARTER.
   3.  THE  COMPTROLLER  OF  THE  CITY,  OR HIS OR HER LEGALLY AUTHORIZED
 REPRESENTATIVE, IS HEREBY AUTHORIZED AND EMPOWERED FROM TIME TO TIME  TO
 EXAMINE  THE  BOOKS  AND  ACCOUNTS  OF THE TRUST INCLUDING ITS RECEIPTS,
 DISBURSEMENTS, CONTRACTS, RESERVE FUNDS, SINKING FUNDS, INVESTMENTS, AND
 ANY OTHER MATTERS RELATING TO ITS FINANCIAL STANDING.
   § 648. EFFECT OF INCONSISTENT PROVISIONS. INSOFAR AS THE PROVISIONS OF
 THIS ARTICLE ARE INCONSISTENT WITH THE  PROVISIONS  OF  ANY  OTHER  LAW,
 GENERAL,  SPECIAL  OR LOCAL OR OF THE NEW YORK CITY CHARTER OR ANY LOCAL
 LAW, ORDINANCE OR RESOLUTION OF THE CITY, THE PROVISION OF THIS  ARTICLE
 SHALL  BE  CONTROLLING,  PROVIDED THAT NOTHING CONTAINED IN THIS SECTION
 SHALL BE HELD TO SUPPLEMENT OR OTHERWISE EXPAND THE POWERS OR DUTIES  OF
 THE TRUST OTHERWISE SET FORTH IN THIS ARTICLE.
   §  649. SEVERABILITY. IF ANY PROVISION OF THIS ARTICLE OR ITS APPLICA-
 TION TO ANY PERSON OR CIRCUMSTANCE IS HELD UNCONSTITUTIONAL OR  INVALID,
 IN  WHOLE  OR IN PART, BY ANY COURT, SUCH HOLDING OF UNCONSTITUTIONALITY
 OR INVALIDITY SHALL IN NO WAY AFFECT OR IMPAIR ANY  OTHER  PROVISION  OF
 THIS  ARTICLE  OR  THE  APPLICATION  OF  ANY SUCH PROVISION TO ANY OTHER
 PERSON OR CIRCUMSTANCE, AND TO THIS END THE PROVISIONS OF  THIS  ARTICLE
 ARE SEVERABLE.
   § 2. Paragraph b of subdivision 3 of section 13-101 of the administra-
 tive  code of the city of New York, as amended by chapter 16 of the laws
 of 1997, is amended to read as follows:
   b. Service as a paid employee of the triborough bridge authority,  the
 Henry  Hudson  parkway  authority, the Marine parkway authority, the New
 A. 7805--D                         29

 York city tunnel authority, the New York city parkway authority, the New
 York city housing authority, THE NEW YORK CITY PUBLIC HOUSING  PRESERVA-
 TION  TRUST,  the  triborough  bridge and tunnel authority, the New York
 city  transit  authority,  the  New York city housing development corpo-
 ration, the New York city health and hospitals corporation, the New York
 city  off-track  betting  corporation,  the   New   York   city   school
 construction  authority,  the  New  York  city  municipal  water finance
 authority, the New York city water board, the transit construction fund,
 the New York city transitional finance  authority,  the  New  York  city
 sports authority and the New York city rehabilitation mortgage insurance
 corporation shall constitute city-service as herein defined.
   § 3. Paragraph 1 of subdivision c of section 13-133 of the administra-
 tive  code of the city of New York, subparagraph (C) as added by chapter
 738 of the laws of 1988, subparagraphs (D) and (E) as added  by  chapter
 609  of the laws of 1995, subparagraph (F) as added by chapter 16 of the
 laws of 1997, and subparagraph (G) as added by chapter 3 of the laws  of
 2013, is amended to read as follows:
   (1)  (A)  The comptroller shall make monthly payments, in twelve equal
 installments, with respect to obligations which the city incurs  to  pay
 sums to the retirement system.
   (B)  The  New  York  city  health and hospitals corporation shall make
 monthly payments, in twelve equal installments, with  respect  to  obli-
 gations which it incurs to pay sums to the retirement system.
   (C) The New York city school construction authority shall make monthly
 payments,  in  twelve  equal  installments,  with respect to obligations
 which it incurs to pay sums to the retirement system.
   (D) The New York city municipal water  finance  authority  shall  make
 monthly  payments,  in  twelve equal installments, with respect to obli-
 gations, if any, which it incurs to pay sums to the retirement system.
   (E) The New York city water board  shall  make  monthly  payments,  in
 twelve equal installments, with respect to obligations, if any, which it
 incurs to pay sums to the retirement system.
   (F) The New York city transitional finance authority shall make month-
 ly  payments,  in twelve equal installments, with respect to obligations
 which it incurs to pay sums to the retirement system.
   (G) THE NEW YORK CITY PUBLIC HOUSING  PRESERVATION  TRUST  SHALL  MAKE
 MONTHLY  PAYMENTS,  IN  TWELVE EQUAL INSTALLMENTS, WITH RESPECT TO OBLI-
 GATIONS WHICH IT INCURS TO PAY SUMS TO THE RETIREMENT SYSTEM.
   (H) Where a responsible obligor (as defined in paragraph ten of subdi-
 vision a of section 13-638.2 of this title) is required to make payments
 to the retirement system pursuant to applicable  provisions  of  law  in
 fiscal  year  two  thousand  twelve--two  thousand  thirteen, and in any
 fiscal year thereafter, and the provisions of this  subdivision  or  the
 provisions  of  any  other  applicable law do not otherwise specifically
 require such responsible obligor to make such payments by  a  particular
 date  or  dates  during such fiscal year, such responsible obligor shall
 make such payments either (i) in total on or  before  January  first  of
 such  fiscal  year,  or  (ii)  in  twelve equal monthly installments, as
 determined by the actuary, with each monthly installment to be  paid  on
 or before the last day of each month.
   §  4.  This  act  shall take effect on the sixtieth day after it shall
 have become a law. Provided that any public officer or employee, includ-
 ing but not limited to the mayor of the city of New York and  the  chief
 executive  officer of the New York city housing authority, is authorized
 to take any action that is necessary for the  timely  implementation  of
 this act prior to its effective date.