S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4301
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 4, 2025
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community Development
 
 AN  ACT  to amend the public housing law and the public authorities law,
   in relation to the New York city housing authority

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  opening paragraph of subdivision 4 of section 402 of
 the public housing law is designated paragraph a  and  three  new  para-
 graphs b, c and d are added to read as follows:
   B.  THE  CHAIRPERSON AND THE OTHER MEMBERS OF THE AUTHORITY, INCLUDING
 THE ADDITIONAL TENANT MEMBER, SHALL: (1) EXERCISE  DIRECT  OVERSIGHT  OF
 THE  AUTHORITY'S  CHIEF  EXECUTIVE  OFFICER OR GENERAL MANAGER AND OTHER
 MANAGERS OR SUPERVISORS IN THE EFFECTIVE AND ETHICAL MANAGEMENT  OF  THE
 AUTHORITY;  (2)  UNDERSTAND,  REVIEW  AND  MONITOR THE IMPLEMENTATION OF
 FUNDAMENTAL FINANCIAL AND MANAGEMENT CONTROLS AND OPERATIONAL  DECISIONS
 OF  THE AUTHORITY; (3) ADOPT A CODE OF ETHICS FOR OFFICERS AND EMPLOYEES
 OF THE AUTHORITY CONSISTENT WITH SECTION EIGHT HUNDRED SIX OF THE GENER-
 AL MUNICIPAL LAW; (4) PERFORM EACH OF THEIR  DUTIES  AS  BOARD  MEMBERS,
 INCLUDING  BUT  NOT  LIMITED  TO  THOSE IMPOSED BY THIS SECTION, IN GOOD
 FAITH AND WITH THAT DEGREE OF DILIGENCE, CARE AND SKILL WHICH  AN  ORDI-
 NARILY  PRUDENT  PERSON IN LIKE POSITION WOULD USE UNDER SIMILAR CIRCUM-
 STANCES, AND MAY TAKE INTO CONSIDERATION THE VIEWS AND POLICIES  OF  ANY
 ELECTED OFFICIAL OR BODY, OR OTHER PERSON AND ULTIMATELY APPLY INDEPEND-
 ENT  JUDGMENT IN THE BEST INTEREST OF THE AUTHORITY, ITS MISSION AND THE
 PUBLIC. AT THE TIME THAT EACH MEMBER TAKES AND SUBSCRIBES THEIR OATH  OF
 OFFICE,  OR WITHIN SIXTY DAYS AFTER THE EFFECTIVE DATE OF THIS PARAGRAPH
 IF THE MEMBER HAS ALREADY TAKEN AND SUBSCRIBED  THEIR  OATH  OF  OFFICE,
 EXECUTE  AN ACKNOWLEDGMENT, IN A FORM CONSISTENT WITH THE ONE PRESCRIBED
 BY THE NEW YORK INDEPENDENT AUTHORITIES BUDGET OFFICE ESTABLISHED PURSU-
 ANT TO TITLE TWO OF ARTICLE ONE OF THE PUBLIC AUTHORITIES LAW  IN  WHICH
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08245-01-5
              

 S. 4301                             2
 
 THE BOARD MEMBER ACKNOWLEDGES THAT THEY UNDERSTAND THEIR ROLE, AND FIDU-
 CIARY  RESPONSIBILITIES  AS SET FORTH IN SUBPARAGRAPH FOUR OF THIS PARA-
 GRAPH, AND ACKNOWLEDGES THAT THEY UNDERSTAND THEIR DUTY OF  LOYALTY  AND
 CARE  TO  THE ORGANIZATION AND COMMITMENT TO THE AUTHORITY'S MISSION AND
 THE PUBLIC INTEREST.
   C. ALL BOARD MEMBERS, INCLUDING THE TENANT MEMBER,  SHALL  PARTICIPATE
 IN TRAINING APPROVED BY THE INSPECTOR GENERAL OF THE AUTHORITY REGARDING
 THEIR LEGAL, FIDUCIARY, FINANCIAL AND ETHICAL RESPONSIBILITIES AS DIREC-
 TORS  OF AN AUTHORITY WITHIN ONE YEAR OF APPOINTMENT TO THE BOARD. BOARD
 MEMBERS SHALL PARTICIPATE IN SUCH CONTINUING TRAINING AS MAY BE REQUIRED
 TO REMAIN INFORMED OF BEST PRACTICES, REGULATORY AND  STATUTORY  CHANGES
 RELATING  TO  THE  EFFECTIVE  OVERSIGHT  OF THE MANAGEMENT AND FINANCIAL
 ACTIVITIES OF PUBLIC CORPORATIONS AND TO ADHERE TO THE HIGHEST STANDARDS
 OF RESPONSIBLE GOVERNANCE.
   D. NOTWITHSTANDING ANY LAWS TO THE CONTRARY, THE AUTHORITY SHALL  NOT,
 DIRECTLY  OR  INDIRECTLY,  EXTEND  OR  MAINTAIN  CREDIT, ARRANGE FOR THE
 EXTENSION OF CREDIT, OR RENEW AN EXTENSION OF CREDIT, IN THE FORM  OF  A
 PERSONAL  LOAN  TO  OR  FOR ANY OFFICER, BOARD MEMBER OR EMPLOYEE OF THE
 AUTHORITY.
   § 2. Section 402 of the public housing law is amended by adding eleven
 new subdivisions 12, 12-a, 13, 14, 15, 16, 17, 18, 19, 20 and 21 to read
 as follows:
   12. DISPOSITION OF PROPERTY.  A. DEFINITIONS. FOR THE PURPOSES OF THIS
 SUBDIVISION:
   (1) "AUTHORITIES BUDGET OFFICE" SHALL MEAN THE INDEPENDENT AUTHORITIES
 BUDGET OFFICE ESTABLISHED PURSUANT TO SECTION FOUR OF THE PUBLIC AUTHOR-
 ITIES LAW.
   (2) "CITY COMPTROLLER" SHALL MEAN THE COMPTROLLER OF THE CITY  OF  NEW
 YORK.
   (3)  "CONTRACTING  OFFICER"  SHALL MEAN THE OFFICER OR EMPLOYEE OF THE
 AUTHORITY WHO SHALL BE APPOINTED BY  RESOLUTION  OF  THE  BOARD  OF  THE
 AUTHORITY TO BE RESPONSIBLE FOR THE DISPOSITION OF PROPERTY.
   (4)  "DISPOSE", "DISPOSITION" OR "DISPOSAL" SHALL MEAN THE SALE, LEASE
 OR TRANSFER OF TITLE OR ANY OTHER BENEFICIAL  INTEREST  IN  PERSONAL  OR
 REAL  PROPERTY  IN  ACCORDANCE WITH PARAGRAPH C OF THIS SUBDIVISION, AND
 SHALL ALSO INCLUDE THE DEMOLITION OF REAL PROPERTY.
   (5) "MAYOR" SHALL MEAN THE MAYOR OF THE CITY OF NEW YORK.
   (6) "PROPERTY" SHALL MEAN PERSONAL PROPERTY IN EXCESS OF FIVE THOUSAND
 DOLLARS IN VALUE, REAL PROPERTY, AND ANY INCHOATE OR OTHER  INTEREST  IN
 SUCH  PROPERTY,  TO  THE  EXTENT  THAT  SUCH INTEREST MAY BE CONVEYED TO
 ANOTHER PERSON FOR ANY PURPOSE, EXCLUDING AN INTEREST SECURING A LOAN OR
 OTHER FINANCIAL OBLIGATION OF ANOTHER PARTY.
   B. DUTIES OF THE AUTHORITY WITH RESPECT TO THE DISPOSAL  OF  PROPERTY.
 (1)  THE  AUTHORITY  SHALL  ADOPT BY RESOLUTION COMPREHENSIVE GUIDELINES
 WHICH SHALL (A) DETAIL THE AUTHORITY'S OPERATIVE POLICY AND INSTRUCTIONS
 REGARDING THE USE, AWARDING, MONITORING AND REPORTING OF  CONTRACTS  FOR
 THE  DISPOSAL OF PROPERTY, AND (B) DESIGNATE A PROPERTY MANAGEMENT OFFI-
 CER WHO SHALL BE RESPONSIBLE FOR THE AUTHORITY'S  COMPLIANCE  WITH,  AND
 ENFORCEMENT  OF,  SUCH GUIDELINES.   SUCH GUIDELINES SHALL BE CONSISTENT
 WITH, AND SHALL REQUIRE THE AUTHORITY'S DISPOSITION ACTIVITIES TO COMPLY
 WITH THIS SUBDIVISION, THE  AUTHORITY'S  ENABLING  LEGISLATION  AND  ANY
 OTHER  APPLICABLE FEDERAL LAWS AND REGULATIONS FOR THE DISPOSAL OF PROP-
 ERTY, EXCEPT THAT SUCH GUIDELINES MAY BE STRICTER THAN THE PROVISIONS OF
 THIS SUBDIVISION, THE AUTHORITY'S ENABLING  LEGISLATION  AND  ANY  OTHER
 APPLICABLE  FEDERAL LAWS AND REGULATIONS FOR THE DISPOSAL OF PROPERTY IF
 THE AUTHORITY DETERMINES THAT ADDITIONAL  SAFEGUARDS  ARE  NECESSARY  TO
 S. 4301                             3

 ASSURE  THE INTEGRITY OF ITS DISPOSITION ACTIVITIES. GUIDELINES APPROVED
 BY THE AUTHORITY SHALL BE ANNUALLY REVIEWED AND APPROVED BY THE BOARD OF
 THE AUTHORITY. ON OR BEFORE THE THIRTY-FIRST DAY OF MARCH IN EACH  YEAR,
 THE  AUTHORITY  SHALL  FILE WITH THE AUTHORITIES BUDGET OFFICE A COPY OF
 THE GUIDELINES MOST RECENTLY REVIEWED AND  APPROVED  BY  THE  AUTHORITY,
 INCLUDING  THE  NAME  OF  THE AUTHORITY'S DESIGNATED PROPERTY MANAGEMENT
 OFFICER. AT THE TIME OF FILING  SUCH  GUIDELINES  WITH  THE  AUTHORITIES
 BUDGET  OFFICE,  THE  AUTHORITY  SHALL  ALSO POST SUCH GUIDELINES ON THE
 AUTHORITY'S INTERNET WEBSITE.   GUIDELINES  POSTED  ON  THE  AUTHORITY'S
 INTERNET  WEBSITE SHALL BE MAINTAINED ON SUCH WEBSITE AT LEAST UNTIL THE
 PROCUREMENT GUIDELINES  FOR  THE  FOLLOWING  YEAR  ARE  POSTED  ON  SUCH
 WEBSITE.
   (2) THE AUTHORITY SHALL:
   (A)  MAINTAIN  ADEQUATE  INVENTORY CONTROLS AND ACCOUNTABILITY SYSTEMS
 FOR ALL PROPERTY UNDER ITS CONTROL;
   (B) PERIODICALLY INVENTORY SUCH PROPERTY TO DETERMINE  WHICH  PROPERTY
 SHALL BE DISPOSED OF; AND
   (C)  PRODUCE  A  WRITTEN  REPORT  OF  SUCH PROPERTY IN ACCORDANCE WITH
 SUBPARAGRAPH THREE OF THIS PARAGRAPH.
   (3) (A) THE AUTHORITY SHALL PUBLISH, AT LEAST ANNUALLY, A REPORT LIST-
 ING ALL REAL PROPERTY OWNED, CONTROLLED OR OPERATED  BY  THE  AUTHORITY.
 SUCH  REPORT  SHALL  INCLUDE A LIST AND FULL DESCRIPTION OF ALL PROPERTY
 DISPOSED OF DURING SUCH PERIOD.  THE  REPORT  SHALL  CONTAIN  THE  PRICE
 RECEIVED  BY  THE  AUTHORITY  AND THE NAME OF THE PURCHASER FOR ALL SUCH
 PROPERTY DISPOSED OF BY THE AUTHORITY DURING SUCH PERIOD.
   (B) THE AUTHORITY SHALL DELIVER COPIES OF SUCH REPORT TO THE INDEPEND-
 ENT AUTHORITIES BUDGET OFFICE, THE MAYOR, THE CITY COMPTROLLER, THE  NEW
 YORK CITY COUNCIL AND THE STATE LEGISLATURE.
   C. DISPOSAL OF AUTHORITY PROPERTY. (1) EXCEPT AS OTHERWISE PROVIDED IN
 THIS  SUBDIVISION,  THE  PROPERTY  MANAGEMENT  OFFICER DESIGNATED BY THE
 AUTHORITY SHALL HAVE SUPERVISION OVER THE DISPOSITION OF PROPERTY OF THE
 AUTHORITY.
   (2) THE CUSTODY AND CONTROL OF THE PROPERTY OF THE AUTHORITY,  PENDING
 ITS  DISPOSITION,  AND THE DISPOSAL OF SUCH PROPERTY, SHALL BE PERFORMED
 BY THE AUTHORITY.
   (3) SUBJECT TO SUBPARAGRAPH FIVE OF THIS PARAGRAPH, THE AUTHORITY  MAY
 DISPOSE  OF  PROPERTY  FOR  NOT  LESS THAN THE FAIR MARKET VALUE OF SUCH
 PROPERTY BY SALE, LEASE, EXCHANGE, OR TRANSFER,  FOR  CASH,  CREDIT,  OR
 OTHER  PROPERTY, WITH OR WITHOUT WARRANTY, AND UPON SUCH OTHER TERMS AND
 CONDITIONS AS THE AUTHORITY DEEMS PROPER, PROVIDED THAT SUCH  TERMS  AND
 CONDITIONS  ARE CONSISTENT WITH INDUSTRY PRACTICES AND ARE COMPARABLE TO
 TERMS AND  CONDITIONS  CONTAINED  IN  SIMILAR  AGREEMENTS  OR  CONTRACTS
 BETWEEN  AND  BY  PRIVATE PARTIES, AND IT MAY EXECUTE SUCH DOCUMENTS FOR
 THE TRANSFER OF TITLE OR OTHER INTEREST IN PROPERTY AND TAKE SUCH  OTHER
 ACTION AS IT DEEMS NECESSARY OR PROPER TO DISPOSE OF SUCH PROPERTY UNDER
 THE  PROVISIONS  OF THIS SUBDIVISION PROVIDED, HOWEVER, THAT NO DISPOSI-
 TION OF REAL PROPERTY, OR ANY INTEREST IN REAL PROPERTY, SHALL  BE  MADE
 UNLESS  AN  APPRAISAL  OF THE VALUE OF SUCH PROPERTY HAS BEEN MADE BY AN
 INDEPENDENT APPRAISER AND INCLUDED IN THE  RECORD  OF  THE  TRANSACTION,
 AND,  PROVIDED FURTHER, THAT NO DISPOSITION OF ANY OTHER PROPERTY, WHICH
 BECAUSE OF ITS UNIQUE NATURE OR THE UNIQUE CIRCUMSTANCES OF THE PROPOSED
 TRANSACTION IS NOT READILY VALUED BY REFERENCE TO AN ACTIVE  MARKET  FOR
 SIMILAR PROPERTY, SHALL BE MADE WITHOUT A SIMILAR APPRAISAL.
   (4)  (A)  ALL  DISPOSALS  OR CONTRACTS FOR DISPOSAL OF PROPERTY OF THE
 AUTHORITY MADE OR AUTHORIZED  BY  THE  AUTHORITY  SHALL  BE  MADE  AFTER
 S. 4301                             4
 
 PUBLICLY  ADVERTISING  FOR BIDS EXCEPT AS PROVIDED IN CLAUSE (C) OF THIS
 SUBPARAGRAPH.
   (B)  WHENEVER PUBLIC ADVERTISING FOR BIDS IS REQUIRED UNDER CLAUSE (A)
 OF THIS SUBPARAGRAPH:
   (I) THE ADVERTISEMENT FOR BIDS SHALL BE MADE AT SUCH TIME PRIOR TO THE
 DISPOSAL OR CONTRACT, THROUGH SUCH METHODS, AND ON SUCH TERMS AND CONDI-
 TIONS AS SHALL PERMIT FULL AND  FREE  COMPETITION  CONSISTENT  WITH  THE
 VALUE AND NATURE OF THE PROPERTY;
   (II) ALL BIDS SHALL BE PUBLICLY DISCLOSED AT THE TIME AND PLACE STATED
 IN THE ADVERTISEMENT; AND
   (III)  THE AWARD SHALL BE MADE WITH REASONABLE PROMPTNESS BY NOTICE TO
 THE RESPONSIBLE BIDDER WHOSE BID, CONFORMING TO THE INVITATION FOR BIDS,
 WILL BE MOST ADVANTAGEOUS TO THE  AUTHORITY,  PRICE  AND  OTHER  FACTORS
 CONSIDERED;  PROVIDED,  THAT  ALL BIDS MAY BE REJECTED WHEN IT IS IN THE
 PUBLIC INTEREST TO DO SO.
   (C) DISPOSALS AND CONTRACTS FOR DISPOSAL OF PROPERTY MAY BE NEGOTIATED
 OR MADE BY PUBLIC AUCTION WITHOUT REGARD TO CLAUSES (A) AND (B) OF  THIS
 SUBPARAGRAPH  BUT  SUBJECT  TO OBTAINING SUCH COMPETITION AS IS FEASIBLE
 UNDER THE CIRCUMSTANCES, IF:
   (I) THE PERSONAL PROPERTY INVOLVED HAS  QUALITIES  SEPARATE  FROM  THE
 UTILITARIAN PURPOSE OF SUCH PROPERTY, SUCH AS ARTISTIC QUALITY, ANTIQUI-
 TY, HISTORICAL SIGNIFICANCE, RARITY, OR OTHER QUALITY OF SIMILAR EFFECT,
 THAT WOULD TEND TO INCREASE ITS VALUE, OR IF THE PERSONAL PROPERTY IS TO
 BE  SOLD IN SUCH QUANTITY THAT, IF IT WERE DISPOSED OF UNDER CLAUSES (A)
 AND (B) OF THIS SUBPARAGRAPH, WOULD ADVERSELY AFFECT THE STATE OR  LOCAL
 MARKET  FOR  SUCH  PROPERTY, AND THE ESTIMATED FAIR MARKET VALUE OF SUCH
 PROPERTY AND OTHER SATISFACTORY TERMS OF DISPOSAL  CAN  BE  OBTAINED  BY
 NEGOTIATION;
   (II) THE FAIR MARKET VALUE OF THE PROPERTY DOES NOT EXCEED FIFTY THOU-
 SAND DOLLARS;
   (III) BID PRICES AFTER ADVERTISING THEREFOR ARE NOT REASONABLE, EITHER
 AS  TO  ALL OR SOME PART OF THE PROPERTY, OR HAVE NOT BEEN INDEPENDENTLY
 ARRIVED AT IN OPEN COMPETITION;
   (IV) THE DISPOSAL WILL BE TO THE STATE OR ANY  POLITICAL  SUBDIVISION,
 AND  THE ESTIMATED FAIR MARKET VALUE OF THE PROPERTY AND OTHER SATISFAC-
 TORY TERMS OF DISPOSAL ARE OBTAINED BY NEGOTIATION;
   (V) UNDER THOSE CIRCUMSTANCES PERMITTED BY SUBPARAGRAPH FIVE  OF  THIS
 PARAGRAPH; OR
   (VI) SUCH ACTION IS OTHERWISE AUTHORIZED BY LAW.
   (D)  (I)  AN  EXPLANATORY  STATEMENT  SHALL BE PREPARED OF THE CIRCUM-
 STANCES OF EACH DISPOSAL BY NEGOTIATION OF:
   (A) ANY PERSONAL PROPERTY WHICH HAS AN ESTIMATED FAIR MARKET VALUE  IN
 EXCESS OF FIFTY THOUSAND DOLLARS;
   (B)  ANY  REAL  PROPERTY  THAT  HAS  AN ESTIMATED FAIR MARKET VALUE IN
 EXCESS OF FIFTY THOUSAND DOLLARS; OR
   (C) ANY REAL PROPERTY DISPOSED OF AT BELOW FAIR MARKET VALUE OR FOR  A
 NOMINAL PRICE.
   (II)  EACH SUCH STATEMENT SHALL BE TRANSMITTED TO THE PERSONS ENTITLED
 TO RECEIVE COPIES OF THE REPORT  REQUIRED  UNDER  PARAGRAPH  B  OF  THIS
 SUBDIVISION NOT LESS THAN NINETY DAYS IN ADVANCE OF SUCH DISPOSAL, AND A
 COPY THEREOF SHALL BE PRESERVED IN THE FILES OF THE AUTHORITY.
   (5)  (A)  NO PROPERTY OWNED, LEASED OR OTHERWISE IN THE CONTROL OF THE
 AUTHORITY MAY BE SOLD, LEASED, OR OTHERWISE ALIENATED FOR LESS THAN  ITS
 FAIR MARKET VALUE EXCEPT:
   (I)  IF  THE  PURCHASER, LESSEE OR TRANSFEREE IS A GOVERNMENT OR OTHER
 PUBLIC ENTITY, AND THE TERMS AND CONDITIONS OF THE  DISPOSITION  REQUIRE
 S. 4301                             5
 
 THAT  THE OWNERSHIP AND USE OF THE ASSET WILL REMAIN WITH THE GOVERNMENT
 OR ANY OTHER PUBLIC ENTITY; OR
   (II)  IF  THE AUTHORITY SEEKS TO DISPOSE OF PROPERTY FOR LESS THAN ITS
 FAIR MARKET VALUE TO OTHER THAN  A  GOVERNMENTAL  ENTITY  THE  AUTHORITY
 SHALL  PROVIDE WRITTEN NOTIFICATION THEREOF TO THE MAYOR, THE CITY COMP-
 TROLLER, THE STATE LEGISLATURE AND THE NEW YORK CITY COUNCIL.
   (B) IN THE EVENT A BELOW FAIR MARKET  VALUE  PROPERTY  DISPOSITION  IS
 PROPOSED,  THE  FOLLOWING INFORMATION MUST BE PROVIDED TO THE MAYOR, THE
 CITY COMPTROLLER, THE STATE LEGISLATURE AND THE NEW  YORK  CITY  COUNCIL
 AND THE GENERAL PUBLIC:
   (I) A FULL DESCRIPTION OF THE PROPERTY;
   (II)  AN  APPRAISAL  OF  THE FAIR MARKET VALUE OF THE PROPERTY AND ANY
 OTHER INFORMATION ESTABLISHING THE FAIR MARKET VALUE;
   (III) A DESCRIPTION OF THE PURPOSE OF THE DISPOSITION AND A  STATEMENT
 OF  THE  KIND AND AMOUNT OF THE BENEFIT TO THE RESIDENTS OF THE AUTHORI-
 TY'S HOUSING RESULTING FROM THE DISPOSITION, INCLUDING BUT  NOT  LIMITED
 TO,  THE  BENEFITS,  IF ANY, TO THE COMMUNITIES IN WHICH THE PROPERTY IS
 SITUATED;
   (IV) A STATEMENT OF THE FINANCIAL VALUE TO BE RECEIVED BY THE AUTHORI-
 TY AND BY THE PRIVATE PARTIES PARTICIPATING OR OTHERWISE INVOLVED IN THE
 PROPERTY COMPARED TO THE FAIR MARKET VALUE, INCLUDING THE  PROJECTED  OR
 POTENTIAL  VALUE OF ANY TAX CREDITS, EXEMPTIONS, GOVERNMENT SUBSIDIES OR
 GRANTS, OR REAL PROPERTY TAX ABATEMENTS GIVEN TO THE PRIVATE PARTIES;
   (V) THE NAMES OF ANY PRIVATE PARTIES PARTICIPATING IN THE DISPOSITION,
 AND IF DIFFERENT THAN THE STATEMENT REQUIRED BY SUBCLAUSE (IV)  OF  THIS
 CLAUSE, A STATEMENT OF THE VALUE TO THE PRIVATE PARTY;
   (VI)  THE  NAMES  OF  OTHER PRIVATE PARTIES WHO HAVE MADE AN OFFER FOR
 SUCH PROPERTY, THE VALUE OFFERED, AND THE PURPOSE FOR WHICH THE PROPERTY
 WAS SOUGHT TO BE USED; AND
   (VII) AN ANALYSIS COMPARING THE VALUE OR CONSIDERATION RECEIVED BY THE
 AUTHORITY FOR A DISPOSITION OF AUTHORITY REAL PROPERTY WITH THE VALUE OR
 CONSIDERATION THAT A PRIVATE PARTY PURCHASER OR LESSOR WOULD RECEIVE FOR
 DISPOSING OF SIMILARLY-SITUATED OR COMPARABLE REAL PROPERTY AND EXPLAIN-
 ING THE DIFFERENCES OR DISCREPANCIES BETWEEN  TWO  VALUES  OR  CONSIDER-
 ATION.
   (C)  BEFORE  APPROVING THE DISPOSAL OF ANY PROPERTY FOR LESS THAN FAIR
 MARKET VALUE, THE BOARD SHALL  CONSIDER  THE  INFORMATION  DESCRIBED  IN
 CLAUSE  (B)  OF  THIS SUBPARAGRAPH AND MAKE A WRITTEN DETERMINATION THAT
 THERE IS NO REASONABLE ALTERNATIVE TO THE PROPOSED BELOW-MARKET DISPOSI-
 TION THAT WOULD ACHIEVE THE SAME PURPOSE OF SUCH DISPOSITION. THE DETER-
 MINATION SHALL INCLUDE THE REASONS FOR  DISPOSING  OF  THE  PROPERTY  AT
 BELOW FAIR MARKET VALUE.
   D.  PUBLIC  HEARINGS.  (1) IN ADDITION TO THE PUBLIC HEARINGS REQUIRED
 PURSUANT TO FEDERAL LAWS  AND  REGULATIONS,  THE  AUTHORITY  SHALL  ALSO
 CONDUCT  AT  LEAST ONE PUBLIC HEARING AT THE DEVELOPMENT, PROJECT, HOUSE
 OR SITE IN WHICH THE  DISPOSITION  IS  BEING  PLANNED  OR  PROPOSED,  AS
 FOLLOWS:
   (A)  AT  LEAST  TEN  DAYS  PRIOR  TO  THE DATE WHEN THE APPLICATION TO
 DISPOSE OF THE AFFECTED PROPERTY IS PRESENTED TO THE AUTHORITY'S GOVERN-
 ING BOARD FOR APPROVAL. THE HEARING SHALL INCLUDE A  FULL  AND  DETAILED
 PRESENTATION ON THE APPRAISAL OF THE SUBJECT PROPERTY;
   (B)  IF THE AUTHORITY MAKES A SIGNIFICANT AMENDMENT TO THE APPLICATION
 AT ANY TIME AFTER THE PUBLIC HEARING CONDUCTED PURSUANT TO CLAUSE (A) OF
 THIS SUBPARAGRAPH. THE  AUTHORITY  MAY  NOT  SUBMIT  THE  AMENDMENT  AND
 FORWARD THE AMENDED APPLICATION TO THE FEDERAL DEPARTMENT OF HOUSING AND
 URBAN  DEVELOPMENT UNTIL THE AUTHORITY HAS CONDUCTED A PUBLIC HEARING ON
 S. 4301                             6
 
 THE SIGNIFICANT AMENDMENT. FOR THE PURPOSES OF THIS CLAUSE, "SIGNIFICANT
 AMENDMENT" SHALL MEAN: ANY CHANGE TO THE APPLICATION THAT  WILL  IN  ANY
 WAY  IMPAIR,  CHANGE  OR  AFFECT  THE  RIGHTS  OF,  AND BENEFITS TO, THE
 AFFECTED  RESIDENTS,  THE AFFECTED HOUSING DEVELOPMENT OR PROJECT OR THE
 RESIDENTS OF PUBLIC HOUSING; AND THAT IS NOT MERELY CORRECTING  A  TYPO-
 GRAPHICAL ERROR, OR MAKING CONFORMING OR TECHNICAL AMENDMENTS; AND
   (C) WITHIN FIFTEEN DAYS AFTER THE AUTHORITY HAS RECEIVED APPROVAL FROM
 THE  FEDERAL  DEPARTMENT OF HOUSING AND URBAN RENEWAL ON THE APPLICATION
 TO DISPOSE OF THE PROPERTY. THE AUTHORITY SHALL  NOT  BE  AUTHORIZED  TO
 IMPLEMENT  THE  APPROVED  APPLICATION UNTIL SUCH PUBLIC HEARING HAS BEEN
 HELD.
   (2) THE AUTHORITY SHALL PROVIDE WRITTEN NOTICE IN A  MANNER  AND  FORM
 SUFFICIENT  TO  INFORM  THE AFFECTED RESIDENTS, TENANT ORGANIZATIONS AND
 THE PUBLIC AT LEAST TEN DAYS BEFORE THE DATE OF ANY  PUBLIC  HEARING  IS
 CONDUCTED PURSUANT TO THIS PARAGRAPH.
   E.  BOARD ACTION. (1) AS A CONDITION FOR ITS SUBMISSION TO THE FEDERAL
 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, THE APPLICATION TO  DISPOSE
 OF  REAL  PROPERTY  SHALL  BE  APPROVED  BY THE MEMBERS OF THE AUTHORITY
 PURSUANT TO A BOARD RESOLUTION, AS PROVIDED IN THIS PARAGRAPH.
   (2) THE RESOLUTION MUST BE DATED AFTER THE DATE OF THE  LAST  RESIDENT
 MEETING AND AFTER THE DATE OF ANY LETTER OF SUPPORT FROM THE APPROPRIATE
 GOVERNMENT  OFFICIALS  RELATING TO THE APPLICATION, AND SHALL SET FORTH,
 AMONG OTHER THINGS:
   (A) THE DATES AND A DESCRIPTION OF THE  CONSULTATION  WITH  RESIDENTS,
 TENANT ORGANIZATIONS AND OTHER INTERESTED PARTIES;
   (B) THE DATES AND A DESCRIPTION OF ANY CONSULTATION WITH LOCAL GOVERN-
 MENT OFFICIALS; AND
   (C)  LETTERS  OF SUPPORT FROM THE APPROPRIATE TENANT ORGANIZATIONS AND
 PUBLIC OFFICIALS.
   12-A. PROJECT TRACKING SYSTEM. A. THE AUTHORITY  SHALL  ESTABLISH  AND
 MAINTAIN  A  SYSTEM TO TRACK, MONITOR AND ASSESS THE STATUS AND PROGRESS
 OF ALL CAPITAL PROJECTS, AND ALL DISPOSITION PROJECTS  APPROVED  BY  THE
 FEDERAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND OF EVERY MAINTE-
 NANCE  OR  REPAIR  PROJECT  PERFORMED BY THE DEPARTMENT. THE INFORMATION
 CONTAINED IN ANY SUCH SYSTEM SHALL INCLUDE, AT A MINIMUM:
   (1) A DESCRIPTION OF THE PROJECT, INCLUDING ITS LOCATION;
   (2) THE CATEGORY OR TYPE OF REPAIR, IF APPLICABLE;
   (3) THE ORIGINAL START DATE;
   (4) THE ACTUAL START DATE, IF DIFFERENT THAN THE ORIGINAL START DATE;
   (5) THE ORIGINAL BUDGET;
   (6) THE CURRENT BUDGET;
   (7) THE FINAL COST OF THE PROJECT;
   (8) THE CURRENT PHASE OF THE PROJECT;
   (9) THE ORIGINAL COMPLETION DATE; AND
   (10) THE ACTUAL  COMPLETION  DATE,  IF  DIFFERENT  THAN  THE  ORIGINAL
 COMPLETION DATE.
   B.  THE  SYSTEM  SHALL  BE OPEN AND AVAILABLE TO THE AUTHORITY'S RESI-
 DENTS.  THE AUTHORITY SHALL ENSURE THAT THE INFORMATION CONTAINED IN THE
 TRACKING SYSTEM IS AVAILABLE ON THE AUTHORITY'S WEBSITE.
   C. THE AUTHORITY SHALL ISSUE A  REPORT,  AT  LEAST  ANNUALLY,  SETTING
 FORTH  AND  EXPLAINING THE INFORMATION CONTAINED IN THE TRACKING SYSTEM,
 INCLUDING:
   (1) THE TOTAL NUMBER OF REQUESTS FOR  REPAIRS,  BROKEN  DOWN  BY  WORK
 TYPES OR CATEGORIES;
   (2)  THE  TOTAL NUMBER OF PENDING OR OUTSTANDING PROJECTS, BROKEN DOWN
 BY WORK TYPES OR CATEGORIES;
 S. 4301                             7

   (3) THE TOTAL NUMBER OF PROJECTS COMPLETED;
   (4)  THE  AVERAGE  NUMBER  OF  DAYS  TO COMPLETE MAINTENANCE OR REPAIR
 PROJECTS, BROKEN DOWN BY THE DIFFERENT WORK TYPES OR CATEGORIES;
   (5) THE TOTAL NUMBER OF MAINTENANCE AND REPAIR PROJECTS NOT COMPLETED,
 BROKEN DOWN BY THE DIFFERENT WORK TYPES OR CATEGORIES;
   (6) AN ESTIMATE OF THE NUMBER OF DAYS REQUIRED TO COMPLETE ALL OF  THE
 PROJECTS, INCLUDING ANY BACKLOGS;
   (7)  AN  EXPLANATION  OR REASONS FOR ANY DELAYS IN THE COMPLETION OF A
 PROJECT IN A TIMELY MANNER; AND
   (8) AN EXPLANATION OR REASONS WHY THE COSTS OF A PROJECT EXCEEDED  THE
 ORIGINAL BUDGET, IF APPLICABLE.
   13.  REPORTING  REQUIREMENTS.    A.  THE AUTHORITY SHALL SUBMIT TO THE
 INDEPENDENT AUTHORITIES BUDGET OFFICE ESTABLISHED  PURSUANT  TO  SECTION
 FOUR OF THE PUBLIC AUTHORITIES LAW, THE MAYOR AND THE COMPTROLLER OF THE
 CITY OF NEW YORK AND THE STATE LEGISLATURE, WITHIN NINETY DAYS AFTER THE
 END OF ITS FISCAL YEAR, A COMPLETE AND DETAILED REPORT OR REPORTS TO THE
 EXTENT  THAT  SUCH  MATTERS  ARE  NOT FULLY REPORTED OR DISCLOSED IN THE
 ANNUAL INDEPENDENT AUDIT REPORT PURSUANT  TO  THIS  SUBDIVISION  SETTING
 FORTH:    (1) ITS FINANCIAL REPORTS, INCLUDING (A) AUDITED FINANCIALS IN
 ACCORDANCE WITH  ALL  APPLICABLE  REGULATIONS  AND  FOLLOWING  GENERALLY
 ACCEPTED  ACCOUNTING  PRINCIPLES,  (B)  GRANT  AND SUBSIDY PROGRAMS, (C)
 OPERATING AND FINANCIAL RISKS, AND (D) LONG-TERM LIABILITIES,  INCLUDING
 LEASES  AND  EMPLOYEE  BENEFIT  PLANS;  (2) A COMPENSATION SCHEDULE THAT
 SHALL INCLUDE, BY POSITION, TITLE AND NAME OF THE  PERSON  HOLDING  SUCH
 POSITION  OR  TITLE, THE SALARY, COMPENSATION, ALLOWANCE AND/OR BENEFITS
 PROVIDED TO ANY OFFICER, DIRECTOR OR EMPLOYEE IN A  DECISION  MAKING  OR
 MANAGERIAL  POSITION  OF SUCH AUTHORITY WHOSE SALARY IS IN EXCESS OF ONE
 HUNDRED THOUSAND DOLLARS; (3) BIOGRAPHICAL  INFORMATION,  NOT  INCLUDING
 CONFIDENTIAL  PERSONAL INFORMATION, FOR ALL DIRECTORS AND SENIOR MANAGE-
 MENT; (4) AN ASSESSMENT OF THE EFFECTIVENESS  OF  ITS  INTERNAL  CONTROL
 STRUCTURE  AND  PROCEDURES;  (5)  A DESCRIPTION OF THE AUTHORITY AND ITS
 BOARD  STRUCTURE,  INCLUDING  (A)  NAMES  OF  COMMITTEES  AND  COMMITTEE
 MEMBERS, (B) LISTS OF BOARD MEETINGS AND ATTENDANCE, (C) DESCRIPTIONS OF
 MAJOR  AUTHORITY  DIVISIONS,  DEPARTMENTS AND BUREAUS, AND (D) THE TOTAL
 NUMBER OF FULL AND PART-TIME EMPLOYEES; (6) ITS BY-LAWS; (7)  A  LISTING
 OF  MATERIAL  CHANGES  IN  OPERATIONS  AND PROGRAMS DURING THE REPORTING
 YEAR; (8) AT A MINIMUM, A FOUR-YEAR  FINANCIAL  PLAN,  INCLUDING  (A)  A
 CURRENT  AND  PROJECTED  CAPITAL  BUDGET,  AND  (B)  AN OPERATING BUDGET
 REPORT, INCLUDING AN ACTUAL VERSUS ESTIMATED BUDGET,  WITH  AN  ANALYSIS
 AND   MEASUREMENT   OF   FINANCIAL  AND  OPERATING  PERFORMANCE;  (9)  A
 DESCRIPTION OF THE TOTAL AMOUNTS OF ASSETS OR SERVICES  OR  BOTH  ASSETS
 AND  SERVICES  BOUGHT OR SOLD WITHOUT COMPETITIVE BIDDING, INCLUDING (A)
 THE NATURE OF THOSE ASSETS OR SERVICES, (B) THE NAMES OF THE PARTIES  TO
 THE TRANSACTION, AND (C) WHERE THE CONTRACT PRICE FOR ASSETS OR SERVICES
 PURCHASED  EXCEEDS  FAIR  MARKET  VALUE, OR WHERE THE CONTRACT PRICE FOR
 ASSETS OR SERVICES SOLD IS LESS  THAN  FAIR  MARKET  VALUE,  A  DETAILED
 EXPLANATION OF THE JUSTIFICATION FOR MAKING THE PURCHASE OR SALE WITHOUT
 COMPETITIVE  BIDDING,  AND  A CERTIFICATION BY THE CHAIRPERSON AND CHIEF
 FINANCIAL OFFICER OF THE AUTHORITY THAT THEY HAVE REVIEWED THE TERMS  OF
 SUCH  PURCHASE  OR  SALE AND DETERMINED THAT IT COMPLIES WITH APPLICABLE
 LAW AND PROCUREMENT GUIDELINES; (10)  A  LIST  AND  DESCRIPTION  OF  THE
 DISPOSITION  PROJECTS  UNDERTAKEN  BY  THE  AUTHORITY IN THE PAST FISCAL
 YEAR, IN THE CURRENT FISCAL YEAR, AND IN THE FOLLOWING FISCAL YEAR; (11)
 A LIST AND DESCRIPTION OF ALL REAL PROPERTY OWNED, CONTROLLED  OR  OPER-
 ATED  BY  THE  AUTHORITY,  REGARDLESS  OF SIZE OR VALUE; (12) A LIST AND
 DESCRIPTION OF ANY REAL PROPERTY ACQUIRED BY THE AUTHORITY FOR  A  PRICE
 S. 4301                             8
 
 OF FIFTY THOUSAND DOLLARS OR MORE IN THE CURRENT FISCAL YEAR, REGARDLESS
 OF  WHETHER THE PURCHASE WAS FOR CASH, MORTGAGE, IN-KIND SERVICES OR ANY
 OTHER CONSIDERATION; (13) A LIST AND DESCRIPTION OF ANY OTHER ASSETS  OR
 PROPERTY,  THE  VALUE OF WHICH EXCEEDS TEN THOUSAND DOLLARS; (14) A LIST
 AND DESCRIPTION OF ANY SERVICE OR EMPLOYMENT  CONTRACTS,  THE  VALUE  OF
 WHICH EXCEEDS FIFTY THOUSAND DOLLARS, TO WHICH THE AUTHORITY IS A PARTY;
 (15) THE EXTENT OF PARTICIPATION BY MINORITY AND WOMEN-OWNED ENTERPRISES
 IN AUTHORITY CONTRACTS AND SERVICES; (16) EMPLOYMENT NUMBERS RELATING TO
 THE  AUTHORITY'S  RESIDENT  EMPLOYMENT  PROGRAM FOR THE REPORTING FISCAL
 YEAR, INCLUDING BUT NOT LIMITED TO, THE TOTAL NUMBER OF POSITIONS AVAIL-
 ABLE, BROKEN DOWN BY THE TYPE OF JOBS; THE NUMBER OF APPLICANTS FOR EACH
 POSITION; THE LENGTH OF EMPLOYMENT OF EACH POSITION; THE RATE OF PAY AND
 BENEFITS FOR EACH POSITION; AND THE NUMBER  OF  POSITIONS  THAT  LED  TO
 FULL-TIME EMPLOYMENT FOR PARTICIPATING RESIDENTS; AND (17) A DESCRIPTION
 OF ANY MATERIAL PENDING LITIGATION IN WHICH THE AUTHORITY IS INVOLVED AS
 A PARTY DURING THE REPORTING YEAR.
   B.  (1)  THE  AUTHORITY  SHALL  MAKE ACCESSIBLE TO THE PUBLIC, VIA ITS
 OFFICIAL WEBSITE, THE REPORT OR REPORTS REQUIRED PURSUANT TO PARAGRAPH A
 OF THIS SUBDIVISION EXCEPT INFORMATION THAT IS  EXEMPT  FROM  DISCLOSURE
 PURSUANT  TO ARTICLE SIX OF THE PUBLIC OFFICERS LAW. THE AUTHORITY SHALL
 ALSO PREPARE AND MAKE ACCESSIBLE A SUMMARY IN PLAIN ENGLISH OF THE PRIN-
 CIPAL INFORMATION IN ITS OPERATING AND CAPITAL BUDGET AND CONCLUSIONS TO
 BE DRAWN FROM IT. ANY FINANCIAL INFORMATION REQUIRED TO BE POSTED ON THE
 WEBSITE PURSUANT TO THE PROVISIONS OF THIS SECTION SHALL BE PRESENTED IN
 A DOWNLOADABLE, SEARCHABLE FORMAT.
   (2) THE AUTHORITY SHALL ALSO PREPARE AND  MAKE  AVAILABLE  FOR  PUBLIC
 INSPECTION  ON  ITS WEBSITE: (A) INFORMATION THAT DETAILS THE SOURCES OF
 DATA AND THE ASSUMPTIONS AND METHODS OF ESTIMATION USED TO CALCULATE ALL
 OPERATING AND CAPITAL  BUDGET  PROJECTIONS,  CONSISTENT  WITH  GENERALLY
 ACCEPTED  BUDGETARY  PRACTICES;  (B) WITHIN SIXTY DAYS OF THE RELEASE OF
 THE ADOPTED BUDGET, MONTHLY PROJECTIONS FOR THE CURRENT FISCAL  YEAR  OF
 ALL REVENUE AND EXPENSES, AND STAFFING FOR THE AUTHORITY; (C) THE STATUS
 OF  CAPITAL  PROJECTS  BY  CAPITAL ELEMENT, INCLUDING BUT NOT LIMITED TO
 COMMITMENTS, EXPENDITURES AND COMPLETIONS; AND  (D)  AN  EXPLANATION  OF
 MATERIAL  VARIANCES  FROM  THE  CAPITAL  PLAN, SUCH AS COST OVERRUNS AND
 DELAYS.
   C. EVERY FINANCIAL REPORT SUBMITTED UNDER THIS  SUBDIVISION  SHALL  BE
 APPROVED  BY  THE  BOARD  AND SHALL BE CERTIFIED IN WRITING BY THE CHIEF
 EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF THE AUTHORITY  THAT
 BASED ON THE OFFICER'S KNOWLEDGE (1) THE INFORMATION PROVIDED THEREIN IS
 ACCURATE,  CORRECT AND DOES NOT CONTAIN ANY UNTRUE STATEMENT OF MATERIAL
 FACT; (2) DOES NOT OMIT ANY MATERIAL FACT WHICH, IF OMITTED, WOULD CAUSE
 THE FINANCIAL STATEMENTS TO BE MISLEADING IN LIGHT OF THE  CIRCUMSTANCES
 UNDER  WHICH  SUCH  STATEMENTS  ARE MADE; AND (3) FAIRLY PRESENTS IN ALL
 MATERIAL RESPECTS THE FINANCIAL CONDITION AND RESULTS OF  OPERATIONS  OF
 THE  AUTHORITY  AS  OF,  AND FOR, THE PERIODS PRESENTED IN THE FINANCIAL
 STATEMENTS.
   D. AT THE REQUEST OF THE AUTHORITY, THE AUTHORITIES BUDGET OFFICE  MAY
 DETERMINE  THAT  THE  REPORTS,  RECORDS,  DATA AND ANY OTHER INFORMATION
 SUBMITTED BY THE AUTHORITY PURSUANT TO  FEDERAL  LAWS,  RULES  OR  REGU-
 LATIONS  FULLY  COMPLIES  WITH  OR  OTHERWISE  SATISFIES  THE  REPORTING
 REQUIREMENTS SET FORTH  IN  THIS  SUBDIVISION.  THE  AUTHORITIES  BUDGET
 OFFICE  SHALL  INFORM  THE  AUTHORITY OF ITS DETERMINATION AND MAY WAIVE
 COMPLIANCE WITH PARAGRAPH A OF THIS SUBDIVISION OR SHALL  SPECIFY  THOSE
 MATTERS  SET  FORTH  IN  SUCH  PARAGRAPH  A  THAT THE AUTHORITY SHALL BE
 REQUIRED TO SUBMIT A REPORT ON. ANY DETERMINATION MADE BY  THE  AUTHORI-
 S. 4301                             9
 
 TIES  BUDGET  OFFICE  PURSUANT  TO THIS PARAGRAPH SHALL BE FINAL AND NOT
 SUBJECT TO JUDICIAL REVIEW.
   14. ANNUAL INDEPENDENT AUDIT REPORT.  A. THE AUTHORITY SHALL SUBMIT TO
 THE  INDEPENDENT  AUTHORITIES  BUDGET OFFICE ESTABLISHED PURSUANT TO THE
 PUBLIC AUTHORITIES LAW, THE MAYOR AND COMPTROLLER OF  THE  CITY  OF  NEW
 YORK,  AND  THE STATE LEGISLATURE, TOGETHER WITH THE REPORT DESCRIBED IN
 SUBDIVISION THIRTEEN OF THIS SECTION, A COPY OF THE  ANNUAL  INDEPENDENT
 AUDIT REPORT, PERFORMED BY A CERTIFIED PUBLIC ACCOUNTING FIRM IN ACCORD-
 ANCE  WITH  GENERALLY ACCEPTED AUDITING STANDARDS, AND MANAGEMENT LETTER
 AND ANY OTHER EXTERNAL EXAMINATION OF THE  BOOKS  AND  ACCOUNTS  OF  THE
 AUTHORITY.
   B.  THE CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM THAT PERFORMS ANY
 AUDIT REQUIRED BY THIS SUBDIVISION SHALL  TIMELY  REPORT  TO  THE  BOARD
 MEMBERS OF THE AUTHORITY: (1) ALL CRITICAL ACCOUNTING POLICIES AND PRAC-
 TICES  TO  BE USED; (2) ALL ALTERNATIVE TREATMENTS OF FINANCIAL INFORMA-
 TION WITHIN GENERALLY ACCEPTED  ACCOUNTING  PRINCIPLES  THAT  HAVE  BEEN
 DISCUSSED  WITH  MANAGEMENT OFFICIALS OF THE AUTHORITY, RAMIFICATIONS OF
 THE USE OF SUCH ALTERNATIVE DISCLOSURES AND TREATMENTS, AND  THE  TREAT-
 MENT  PREFERRED BY THE CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM; AND
 (3) OTHER MATERIAL WRITTEN COMMUNICATIONS BETWEEN  THE  CERTIFIED  INDE-
 PENDENT PUBLIC ACCOUNTING FIRM AND THE MANAGEMENT OF THE AUTHORITY, SUCH
 AS  THE  MANAGEMENT  LETTER  ALONG WITH MANAGEMENT'S RESPONSE OR PLAN OF
 CORRECTIVE ACTION, MATERIAL CORRECTIONS IDENTIFIED OR SCHEDULE OF  UNAD-
 JUSTED DIFFERENCES, WHERE APPLICABLE.
   C.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, THE
 CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM PROVIDING SUCH  AUTHORITY'S
 ANNUAL  INDEPENDENT AUDIT WILL BE PROHIBITED IN PROVIDING AUDIT SERVICES
 TO THE AUTHORITY IF THE LEAD (OR  COORDINATING)  AUDIT  PARTNER  (HAVING
 PRIMARY  RESPONSIBILITY FOR THE AUDIT), OR THE AUDIT PARTNER RESPONSIBLE
 FOR REVIEWING THE AUDIT, HAS PERFORMED AUDIT SERVICES FOR THE  AUTHORITY
 IN EACH OF THE FIVE PREVIOUS FISCAL YEARS.
   D.  THE  CERTIFIED  INDEPENDENT  PUBLIC ACCOUNTING FIRM PERFORMING THE
 AUTHORITY'S AUDIT SHALL BE  PROHIBITED  FROM  PERFORMING  ANY  NON-AUDIT
 SERVICES  TO  SUCH  AUTHORITY  CONTEMPORANEOUSLY  WITH THE AUDIT, UNLESS
 RECEIVING PREVIOUS WRITTEN APPROVAL BY THE BOARD  INCLUDING:  (1)  BOOK-
 KEEPING OR OTHER SERVICES RELATED TO THE ACCOUNTING RECORDS OR FINANCIAL
 STATEMENTS  OF  SUCH AUTHORITY; (2) FINANCIAL INFORMATION SYSTEMS DESIGN
 AND IMPLEMENTATION; (3) APPRAISAL OR VALUATION SERVICES, FAIRNESS  OPIN-
 IONS,  OR  CONTRIBUTION-IN-KIND  REPORTS;  (4)  ACTUARIAL  SERVICES; (5)
 INTERNAL AUDIT OUTSOURCING SERVICES; (6) MANAGEMENT FUNCTIONS  OR  HUMAN
 SERVICES;  (7) BROKER OR DEALER, INVESTMENT ADVISOR, OR INVESTMENT BANK-
 ING SERVICES; AND (8) EXPERT SERVICES UNRELATED TO THE AUDIT.
   E. IT  SHALL  BE  PROHIBITED  FOR  ANY  CERTIFIED  INDEPENDENT  PUBLIC
 ACCOUNTING  FIRM  TO  PERFORM FOR THE AUTHORITY ANY AUDIT SERVICE IF THE
 CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, CHIEF ACCOUNTING OFFI-
 CER, OR ANY OTHER PERSON SERVING  IN  AN  EQUIVALENT  POSITION  FOR  THE
 AUTHORITY,  WAS EMPLOYED BY THAT CERTIFIED INDEPENDENT PUBLIC ACCOUNTING
 FIRM AND PARTICIPATED IN ANY CAPACITY IN  THE  AUDIT  OF  THE  AUTHORITY
 DURING  THE  ONE YEAR PERIOD PRECEDING THE DATE OF THE INITIATION OF THE
 AUDIT.
   F. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE AUTHORITY
 MAY EXEMPT INFORMATION FROM DISCLOSURE OR REPORT, IF THE COUNSEL OF SUCH
 AUTHORITY DEEMS THAT SUCH INFORMATION IS COVERED BY ARTICLE SIX  OF  THE
 PUBLIC OFFICERS LAW.
   15.  WHISTLEBLOWER  PROTECTION.   A. FOR THE PURPOSES OF THIS SUBDIVI-
 SION:
 S. 4301                            10
 
   (1) "ATTORNEY GENERAL" SHALL MEAN THE ATTORNEY GENERAL OF THE STATE OF
 NEW YORK.
   (2) "EMPLOYEES" MEANS THOSE PERSONS EMPLOYED AT THE AUTHORITY, INCLUD-
 ING BUT NOT LIMITED TO: FULL-TIME AND PART-TIME EMPLOYEES, THOSE EMPLOY-
 EES ON PROBATION, AND TEMPORARY EMPLOYEES.
   (3)  "INSPECTOR  GENERAL"  SHALL  MEAN  THE  INSPECTOR  GENERAL OF THE
 AUTHORITY APPOINTED PURSUANT TO SUBDIVISION SEVENTEEN OF THIS SECTION.
   (4) "WHISTLEBLOWER" SHALL MEAN  ANY  EMPLOYEE  OF  THE  AUTHORITY  WHO
 DISCLOSES INFORMATION CONCERNING ACTS OF WRONGDOING, MISCONDUCT, MALFEA-
 SANCE, OR OTHER INAPPROPRIATE BEHAVIOR BY AN EMPLOYEE OR BOARD MEMBER OF
 THE  AUTHORITY, CONCERNING THE AUTHORITY'S INVESTMENTS, TRAVEL, ACQUISI-
 TION OF REAL OR PERSONAL PROPERTY, THE DISPOSITION OF REAL  OR  PERSONAL
 PROPERTY AND THE PROCUREMENT OF GOODS AND SERVICES.
   B.  THE  BOARD  OF  THE AUTHORITY SHALL ESTABLISH WRITTEN POLICIES AND
 PROCEDURES PROTECTING EMPLOYEES FROM RETALIATION FOR DISCLOSING INFORMA-
 TION CONCERNING ACTS OF WRONGDOING,  MISCONDUCT,  MALFEASANCE  OR  OTHER
 INAPPROPRIATE  BEHAVIOR BY A BOARD MEMBER OR AN EMPLOYEE OF THE AUTHORI-
 TY, INCLUDING BUT NOT LIMITED TO, INVESTMENTS, TRAVEL,  THE  ACQUISITION
 OF  REAL PROPERTY, THE DISPOSITION OF REAL OR PERSONAL PROPERTY, AND THE
 PROCUREMENT OF GOODS AND SERVICES.
   C. THE INSPECTOR GENERAL, AFTER CONSULTATION WITH THE ATTORNEY  GENER-
 AL,  SHALL  DEVELOP  A WHISTLEBLOWER ACCESS AND ASSISTANCE PROGRAM WHICH
 SHALL INCLUDE, BUT NOT BE LIMITED TO:
   (1) EVALUATING AND COMMENTING ON WHISTLEBLOWER PROGRAMS  AND  POLICIES
 BY BOARD;
   (2)  ESTABLISHING TOLL-FREE TELEPHONE AND FACSIMILE LINES AVAILABLE TO
 EMPLOYEES;
   (3) OFFERING ADVICE REGARDING EMPLOYEE RIGHTS UNDER  APPLICABLE  STATE
 AND FEDERAL LAWS AND ADVICE AND OPTIONS AVAILABLE TO ALL PERSONS; AND
   (4) OFFERING AN OPPORTUNITY FOR EMPLOYEES TO IDENTIFY CONCERNS REGARD-
 ING ANY ISSUE AT THE AUTHORITY.
   D.  ANY  COMMUNICATIONS  BETWEEN AN EMPLOYEE AND THE INSPECTOR GENERAL
 PURSUANT TO THIS SUBDIVISION SHALL BE HELD STRICTLY CONFIDENTIAL BY  THE
 INSPECTOR  GENERAL,  UNLESS  THE EMPLOYEE SPECIFICALLY WAIVES IN WRITING
 THE RIGHT TO CONFIDENTIALITY, EXCEPT THAT SUCH CONFIDENTIALITY SHALL NOT
 EXEMPT THE INSPECTOR GENERAL FROM  DISCLOSING  SUCH  INFORMATION,  WHERE
 APPROPRIATE, TO ANY LAW ENFORCEMENT AUTHORITY.
   E. THE AUTHORITY SHALL NOT FIRE, DISCHARGE, DEMOTE, SUSPEND, THREATEN,
 HARASS  OR  DISCRIMINATE  AGAINST  AN EMPLOYEE BECAUSE OF THE EMPLOYEE'S
 ROLE AS A WHISTLEBLOWER, INSOFAR AS THE ACTIONS TAKEN  BY  THE  EMPLOYEE
 ARE LEGAL.
   16. LOBBYING CONTACTS. A. AS USED IN THIS SUBDIVISION:
   (1)  "LOBBYIST" SHALL HAVE THE SAME MEANING AS DEFINED IN THE LEGISLA-
 TIVE LAW.
   (2) "LOBBYING" SHALL MEAN AND INCLUDE, BUT  NOT  BE  LIMITED  TO,  ANY
 ATTEMPT TO INFLUENCE:
   (A)  THE  ADOPTION  OR  REJECTION OF ANY RULE OR REGULATION HAVING THE
 FORCE AND EFFECT OF LAW BY THE AUTHORITY; OR
   (B) ANY DETERMINATION INVOLVING OR RELATING TO ANY CONTRACTS OR AGREE-
 MENTS IN ANY AMOUNT OF THE AUTHORITY, INCLUDING PROCUREMENT CONTRACTS.
   (3) "CONTACT" SHALL MEAN ANY CONVERSATION, IN PERSON OR BY  TELEPHONIC
 OR OTHER REMOTE MEANS, OR CORRESPONDENCE BETWEEN ANY LOBBYIST ENGAGED IN
 THE  ACT OF LOBBYING AND ANY PERSON WITHIN THE AUTHORITY WHO CAN MAKE OR
 INFLUENCE A DECISION ON THE SUBJECT OF THE LOBBYING  ON  BEHALF  OF  THE
 AUTHORITY, AND SHALL INCLUDE, AT A MINIMUM, ALL MEMBERS OF THE BOARD AND
 ALL OFFICERS OF THE AUTHORITY.
 S. 4301                            11

   B. THE AUTHORITY SHALL MAINTAIN A RECORD OF ALL LOBBYING CONTACTS MADE
 WITH SUCH AUTHORITY.
   C.  EVERY  BOARD  MEMBER,  OFFICER OR EMPLOYEE OF THE AUTHORITY WHO IS
 CONTACTED BY A LOBBYIST SHALL MAKE  A  CONTEMPORANEOUS  RECORD  OF  SUCH
 CONTACT  CONTAINING THE DAY AND TIME OF THE CONTACT, THE IDENTITY OF THE
 LOBBYIST AND A GENERAL SUMMARY OF THE SUBSTANCE OF THE CONTACT.
   D. THE AUTHORITY SHALL ADOPT A POLICY IMPLEMENTING THE REQUIREMENTS OF
 THIS SUBDIVISION. SUCH POLICY SHALL APPOINT AN OFFICER TO WHOM ALL  SUCH
 RECORDS SHALL BE DELIVERED. SUCH OFFICER SHALL MAINTAIN SUCH RECORDS FOR
 NOT  LESS  THAN SEVEN YEARS IN A FILING SYSTEM DESIGNED TO ORGANIZE SUCH
 RECORDS IN A MANNER SO AS TO  MAKE  SUCH  RECORDS  USEFUL  TO  DETERMINE
 WHETHER  THE  DECISIONS  OF  THE  AUTHORITY  WERE INFLUENCED BY LOBBYING
 CONTACTS.
   17. OFFICE OF INSPECTOR GENERAL.  A. ESTABLISHMENT  AND  ORGANIZATION.
 (1)  THERE  IS HEREBY ESTABLISHED THE OFFICE OF THE INSPECTOR GENERAL IN
 THE AUTHORITY. THE HEAD OF THE OFFICE SHALL BE THE INSPECTOR GENERAL WHO
 SHALL BE APPOINTED BY, AND REPORT TO, THE COMMISSIONER OF THE DEPARTMENT
 OF INVESTIGATION OF THE CITY OF NEW YORK.
   (2) THE INSPECTOR GENERAL SHALL HOLD OFFICE AT THE DISCRETION  OF  THE
 COMMISSIONER  AND  UNTIL SUCH INSPECTOR GENERAL'S SUCCESSOR IS APPOINTED
 AND HAS QUALIFIED.
   (3) THE INSPECTOR GENERAL MAY APPOINT ONE OR  MORE  DEPUTY  INSPECTORS
 GENERAL  TO  SERVE  AT  SUCH  INSPECTOR GENERAL'S PLEASURE, WHO SHALL BE
 RESPONSIBLE FOR CONDUCTING INVESTIGATIONS IN THE AUTHORITY.
   B. FUNCTIONS AND DUTIES. THE INSPECTOR GENERAL SHALL HAVE THE  FOLLOW-
 ING DUTIES AND RESPONSIBILITIES:
   (1)  RECEIVE AND INVESTIGATE COMPLAINTS FROM ANY SOURCE, OR UPON THEIR
 OWN INITIATIVE, CONCERNING ALLEGATIONS OF  CORRUPTION,  FRAUD,  CRIMINAL
 ACTIVITY, CONFLICTS OF INTEREST OR ABUSE IN THE AUTHORITY;
   (2)  INFORM THE BOARD AND CHIEF EXECUTIVE DIRECTOR OF SUCH ALLEGATIONS
 AND THE PROGRESS  OF  INVESTIGATIONS  RELATED  THERETO,  UNLESS  SPECIAL
 CIRCUMSTANCES REQUIRE CONFIDENTIALITY;
   (3)  DETERMINE  WITH  RESPECT TO SUCH ALLEGATIONS WHETHER DISCIPLINARY
 ACTION, CIVIL OR CRIMINAL PROSECUTION, OR FURTHER  INVESTIGATION  BY  AN
 APPROPRIATE  FEDERAL,  STATE OR LOCAL AGENCY IS WARRANTED, AND TO ASSIST
 IN SUCH INVESTIGATIONS;
   (4) PREPARE AND RELEASE TO THE PUBLIC WRITTEN REPORTS OF SUCH INVESTI-
 GATIONS, AS APPROPRIATE AND TO THE EXTENT PERMITTED BY LAW,  SUBJECT  TO
 REDACTION  TO  PROTECT  THE CONFIDENTIALITY OF WITNESSES. THE RELEASE OF
 ALL OR PORTIONS OF SUCH REPORTS MAY BE DEFERRED TO PROTECT THE CONFIDEN-
 TIALITY OF ONGOING INVESTIGATIONS;
   (5) REVIEW AND EXAMINE PERIODICALLY THE POLICIES AND PROCEDURES OF THE
 AUTHORITY WITH REGARD TO THE PREVENTION  AND  DETECTION  OF  CORRUPTION,
 FRAUD, CRIMINAL ACTIVITY, CONFLICTS OF INTEREST OR ABUSE;
   (6)  RECOMMEND  REMEDIAL  ACTION  TO  PREVENT OR ELIMINATE CORRUPTION,
 FRAUD, CRIMINAL ACTIVITY, CONFLICTS OF INTEREST OR ABUSE; AND
   (7) ESTABLISH PROGRAMS FOR TRAINING AUTHORITY OFFICERS  AND  EMPLOYEES
 REGARDING  THE PREVENTION AND ELIMINATION OF CORRUPTION, FRAUD, CRIMINAL
 ACTIVITY, CONFLICTS OF INTEREST OR ABUSE IN COVERED AGENCIES.
   C. POWERS. THE INSPECTOR GENERAL SHALL HAVE THE POWER TO:
   (1) SUBPOENA AND ENFORCE THE ATTENDANCE OF WITNESSES;
   (2) ADMINISTER OATHS OR AFFIRMATIONS AND EXAMINE WITNESSES UNDER OATH;
   (3) REQUIRE THE PRODUCTION OF ANY BOOKS AND PAPERS DEEMED RELEVANT  OR
 MATERIAL TO ANY INVESTIGATION, EXAMINATION OR REVIEW;
 S. 4301                            12
 
   (4)  NOTWITHSTANDING  ANY  LAW  TO  THE  CONTRARY, EXAMINE AND COPY OR
 REMOVE DOCUMENTS OR RECORDS OF ANY KIND PREPARED, MAINTAINED OR HELD  BY
 THE AUTHORITY;
   (5)  REQUIRE  ANY OFFICER OR EMPLOYEE OF THE AUTHORITY TO ANSWER QUES-
 TIONS CONCERNING ANY MATTER RELATED TO THE PERFORMANCE OF  SUCH  EMPLOY-
 EE'S  OFFICIAL  DUTIES. NO STATEMENT OR OTHER EVIDENCE DERIVED THEREFROM
 MAY BE USED AGAINST SUCH OFFICER OR EMPLOYEE IN ANY SUBSEQUENT  CRIMINAL
 PROSECUTION  OTHER THAN FOR PERJURY OR CONTEMPT ARISING FROM SUCH TESTI-
 MONY. THE REFUSAL OF ANY OFFICER OR EMPLOYEE TO ANSWER  QUESTIONS  SHALL
 BE  CAUSE  FOR  REMOVAL  FROM  OFFICE OR EMPLOYMENT OR OTHER APPROPRIATE
 PENALTY;
   (6) MONITOR THE IMPLEMENTATION BY THE AUTHORITY OF ANY RECOMMENDATIONS
 MADE BY THE INSPECTOR GENERAL; AND
   (7) PERFORM ANY OTHER FUNCTIONS THAT ARE NECESSARY OR  APPROPRIATE  TO
 FULFILL THE DUTIES AND RESPONSIBILITIES OF OFFICE.
   D. RESPONSIBILITIES OF AUTHORITY OFFICERS AND EMPLOYEES. EVERY OFFICER
 OR  EMPLOYEE  OF  THE  AUTHORITY  SHALL REPORT PROMPTLY TO THE INSPECTOR
 GENERAL ANY INFORMATION CONCERNING CORRUPTION, FRAUD, CRIMINAL ACTIVITY,
 CONFLICTS OF INTEREST OR ABUSE BY ANOTHER AUTHORITY OFFICER OR  EMPLOYEE
 RELATING  TO  SUCH  OFFICER  OR EMPLOYEE'S OFFICE OR EMPLOYMENT, OR BY A
 PERSON HAVING BUSINESS DEALINGS WITH THE  AUTHORITY  RELATING  TO  THOSE
 DEALINGS.  THE  KNOWING  FAILURE OF ANY OFFICER OR EMPLOYEE TO SO REPORT
 SHALL BE CAUSE FOR REMOVAL FROM OFFICE OR EMPLOYMENT OR OTHER  APPROPRI-
 ATE  PENALTY. ANY OFFICER OR EMPLOYEE WHO ACTS PURSUANT TO THIS SUBDIVI-
 SION BY REPORTING TO THE INSPECTOR GENERAL IMPROPER GOVERNMENTAL  ACTION
 SHALL NOT BE SUBJECT TO DISMISSAL, DISCIPLINE OR OTHER ADVERSE PERSONNEL
 ACTION.
   18. FINANCIAL DISCLOSURE.  NOTWITHSTANDING ANY OTHER PROVISIONS OF LAW
 TO THE CONTRARY, BOARD MEMBERS, OFFICERS, AND EMPLOYEES OF THE AUTHORITY
 SHALL FILE ANNUAL FINANCIAL DISCLOSURE STATEMENTS AS REQUIRED BY SECTION
 12-110 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   19.  COMPLIANCE  WITH BUILDING CODES.   HOUSING AND OTHER BUILDINGS OR
 STRUCTURES THAT ARE OWNED, CONTROLLED OR OPERATED BY THE AUTHORITY SHALL
 BE MAINTAINED IN ACCORDANCE WITH THE BUILDING CODE OF THE  CITY  OF  NEW
 YORK.  SUCH  CITY SHALL ENFORCE THE BUILDING CODE WITH RESPECT TO BUILD-
 INGS AND STRUCTURES OF THE AUTHORITY PURSUANT TO THE  CITY  CHARTER  AND
 THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   20. TENANT ASSISTANCE. A. FOR THE PURPOSES OF THIS SUBDIVISION:
   (1)  "CCOP"  SHALL  MEAN  THE  CITYWIDE  COUNCIL OF PRESIDENTS, A BODY
 ESTABLISHED BY THE AUTHORITY CONSISTING OF EVERY PRESIDENT OF A RESIDENT
 ASSOCIATION RECOGNIZED BY THE AUTHORITY; AND
   (2) "RAB" SHALL MEAN A RESIDENT ADVISORY BOARD, A BOARD CONSISTING  OF
 AUTHORITY  RESIDENTS,  REQUIRED  TO  BE  ESTABLISHED PURSUANT TO FEDERAL
 RULES AND REGULATIONS.
   B. AT THE BEGINNING OF EVERY CALENDAR YEAR, THE AUTHORITY SHALL INFORM
 THE CCOP EXECUTIVE BOARD REGARDING, AND MAKE AVAILABLE TO SUCH EXECUTIVE
 BOARD, THE AMOUNT OF FEDERAL FUNDS  APPROPRIATED  OR  ALLOCATED  TO,  OR
 OTHERWISE HELD BY, THE AUTHORITY FOR THE PURPOSES OF PROVIDING TECHNICAL
 ASSISTANCE  OR  EDUCATION  TO THE RESIDENTS OR RESIDENT ORGANIZATIONS OF
 THE AUTHORITY.
   C. (1) THE CCOP EXECUTIVE BOARD SHALL EXPEND OR USE SUCH FUNDS TO: (A)
 RETAIN OR EMPLOY HOUSING AND REAL ESTATE  EXPERTS,  SUCH  AS  ATTORNEYS,
 ACCOUNTANTS,  FINANCIAL  ADVISORS,  REAL PROPERTY APPRAISERS, TO PROVIDE
 ADVICE, COUNSEL AND OTHER ASSISTANCE TO AFFECTED RESIDENTS  OR  RESIDENT
 ASSOCIATIONS  OR ORGANIZATIONS ON ANY REAL PROPERTY DEMOLITION OR DISPO-
 S. 4301                            13

 SITION PROJECT PLANNED OR PROPOSED BY THE  AUTHORITY;  OR  (B)  FOR  ANY
 OTHER EXPENDITURES AUTHORIZED IN APPLICABLE LAWS, RULES AND REGULATIONS.
   (2) THE CCOP EXECUTIVE BOARD SHALL INFORM EACH RAB OF THE AVAILABILITY
 OF  SUCH  EXPERTS  AND ANY OTHER RESOURCES. AT THE REQUEST OF A RAB, THE
 CCOP EXECUTIVE BOARD SHALL MAKE SUCH EXPERTS AND OTHER RESOURCES  AVAIL-
 ABLE  TO  ANY  RAB  AFFECTED BY A PLANNED OR PROPOSED DISPOSITION BY THE
 AUTHORITY.
   (3) SUCH EXPERTS SHALL BE PAID DIRECTLY FROM THE  FUNDS  APPROPRIATED,
 ALLOCATED  OR  HELD  FOR  SUCH PURPOSE, AND SHALL REPORT DIRECTLY TO THE
 CCOP EXECUTIVE BOARD.
   D. AT THE END OF THE CALENDAR YEAR, THE  CCOP  EXECUTIVE  BOARD  SHALL
 PREPARE  AND  SUBMIT  A  REPORT TO THE AUTHORITY SETTING FORTH THE TOTAL
 AMOUNT OF FUNDS THAT WERE  EXPENDED  DURING  THE  CALENDAR  YEAR  AND  A
 DETAILED ACCOUNT ON HOW SUCH FUNDS WERE EXPENDED.
   21.  SOLE  SOURCE  CONTACTS.    A. THE AUTHORITY SHALL NOTIFY THE CITY
 COMPTROLLER OF THE CITY OF NEW YORK OF ANY CONTRACTS  OR  CATEGORIES  OF
 CONTRACTS,  THE  VALUE  OF  WHICH EXCEEDS ONE MILLION DOLLARS, WHERE THE
 CONTRACT OR CATEGORIES OF CONTRACTS IS PROPOSED TO  BE  AWARDED  BY  THE
 AUTHORITY  TO  A  SINGLE  SOURCE, A SOLE SOURCE OR PURSUANT TO ANY OTHER
 METHOD OF PROCUREMENT THAT IS  NOT  COMPETITIVE.    NOTWITHSTANDING  ANY
 PROVISIONS  OF  LAW  TO  THE  CONTRARY,  SUCH  CONTRACT OR CATEGORIES OF
 CONTRACTS ARE SUBJECT TO THE APPROVAL OF SUCH CITY  COMPTROLLER.    SUCH
 NOTIFICATION  SHALL IDENTIFY THE PROCESS FOR SUBMISSION, THE CONTRACT OR
 CATEGORIES OF CONTRACTS AT ISSUE AND THE  TIME  PERIOD  FOR  WHICH  SUCH
 SUBMISSION  IS TO TAKE PLACE. THE CITY COMPTROLLER SHALL PROMULGATE SUCH
 RULES AND REGULATIONS AS MAY BE NECESSARY TO CARRY OUT  THEIR  RESPONSI-
 BILITIES UNDER THIS SUBDIVISION, INCLUDING BUT NOT LIMITED TO THE STAND-
 ARDS FOR DETERMINING WHICH CONTRACTS WILL BE SUBJECT TO THEIR REVIEW AND
 FOR APPROVING SUCH CONTRACTS.
   B.  WHERE THE CITY COMPTROLLER, PURSUANT TO PARAGRAPH A OF THIS SUBDI-
 VISION, HAS NOTIFIED THE  AUTHORITY  THAT  A  CONTRACT  OR  CATEGORY  OF
 CONTRACTS  IS SUBJECT TO SUCH COMPTROLLER'S APPROVAL, IF THE COMPTROLLER
 HAS NOT APPROVED OR DISAPPROVED  ANY  CONTRACT  SUBJECT  TO  SUCH  COMP-
 TROLLER'S  APPROVAL  WITHIN  NINETY  DAYS  OF  SUBMISSION  TO SUCH COMP-
 TROLLER'S OFFICE, SUCH CONTRACT SHALL BECOME VALID AND ENFORCEABLE WITH-
 OUT SUCH APPROVAL.
   C. THIS SUBDIVISION SHALL NOT APPLY TO CONTRACTS ENTERED INTO FOR  THE
 PROCUREMENT  OF  GOODS, SERVICES OR BOTH GOODS AND SERVICES MADE TO MEET
 EMERGENCIES ARISING FROM UNFORESEEN CAUSES OR TO EFFECT REPAIRS TO CRIT-
 ICAL INFRASTRUCTURE THAT ARE NECESSARY TO AVOID A DELAY IN THE  DELIVERY
 OF  CRITICAL  SERVICES  THAT COULD COMPROMISE TENANT OR PUBLIC SAFETY OR
 WELFARE.
   § 3. Section 1678 of the public authorities law is amended by adding a
 new subdivision 33 to read as follows:
   33. TO ENTER INTO A CONSTRUCTION MANAGEMENT  AGREEMENT  WITH  THE  NEW
 YORK  CITY  HOUSING  AUTHORITY, PURSUANT TO WHICH ONE OR MORE BUILDINGS,
 FACILITIES OR STRUCTURES OWNED, CONTROLLED OR OPERATED BY THE  NEW  YORK
 CITY  HOUSING  AUTHORITY  LOCATED  IN  THE  CITY  OF  NEW YORK ARE TO BE
 CONSTRUCTED, RECONSTRUCTED, REHABILITATED, IMPROVED,  MODERNIZED,  RENO-
 VATED OR EXPANDED FOR SUCH AUTHORITY.
   § 4. Severability. If any clause, sentence, paragraph, section or part
 of  this act shall be adjudged by any court of competent jurisdiction to
 be invalid, the judgment shall not affect,  impair,  or  invalidate  the
 remainder thereof, but shall be confined in its operation to the clause,
 sentence,  paragraph,  section  or part thereof directly involved in the
 controversy in which the judgment shall have been rendered.
 S. 4301                            14
 
   § 5. This act shall take effect on the ninetieth day  after  it  shall
 have become a law. Effective immediately, the addition, amendment and/or
 repeal  of  any  rule  or regulation necessary for the implementation of
 this act on its effective date are authorized to be made  and  completed
 on or before such date.