S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6999--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 21, 2021
                                ___________
 
 Introduced  by Sens. KAVANAGH, BIAGGI, GOUNARDES, JACKSON, KRUEGER, LIU,
   PARKER, RIVERA, SALAZAR, SANDERS, SAVINO, SEPULVEDA, STAVISKY  --  (at
   request of the NYC Housing Authority) -- read twice and ordered print-
   ed,  and  when  printed  to  be committed to the Committee on Housing,
   Construction and Community Development -- committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11275-03-1

 S. 6999--A                          2

         610. ALTERNATIVE PROJECT DELIVERY CONTRACTS.
         611. ADDITIONAL AUTHORITY.
         612. ADDITIONAL  REQUIREMENTS  FOR  ALTERNATIVE PROJECT DELIVERY
                CONTRACTS.
         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;

 S. 6999--A                          3
 
   (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 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

 S. 6999--A                          4
 
   (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.
   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.

 S. 6999--A                          5
 
   § 603. 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  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

 S. 6999--A                          6
 
 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.
   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;

 S. 6999--A                          7
 
   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;
   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

 S. 6999--A                          8
 
 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
 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:

 S. 6999--A                          9

   (A) A SUMMARY DESCRIPTION OF THE PROPOSED TRANSFER;
   (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

 S. 6999--A                         10
 
 SUCCESSOR REGULATION, PROVIDED THAT ANY RESIDENT COUNCIL  THAT,  AT  THE
 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

 S. 6999--A                         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-

 S. 6999--A                         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

 S. 6999--A                         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

 S. 6999--A                         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;

 S. 6999--A                         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-

 S. 6999--A                         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.

 S. 6999--A                         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,

 S. 6999--A                         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-

 S. 6999--A                         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

 S. 6999--A                         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

 S. 6999--A                         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.

 S. 6999--A                         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

 S. 6999--A                         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-

 S. 6999--A                         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

 S. 6999--A                         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

 S. 6999--A                         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

 S. 6999--A                         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.