§ 372-a. University-related economic development facilities. 1.
Notwithstanding subdivisions one through six and eight through ten of
section three hundred seventy-six of this article, the provisions of
this section shall apply to the fund when it acts pursuant to the
authorization under this section. Pursuant to the authorization in this
section and approval by the trustees of the university, the fund may
acquire, design, construct, reconstruct, rehabilitate, improve, lease,
manage and/or operate university-related economic development
facilities. University-related economic development facilities, as used
in this chapter, shall mean facilities for research, development and
commercial enterprises dealing in products and/or services related to
the mission or academic specialties of the campus associated with such
facilities, or dealing in support products or services for such
enterprises which will have a significant economic benefit. Consistent
with such authorization, the state university trustees are authorized to
enter into contracts or leases for lands and facilities authorized in
subdivision two of this section. Such leases or contracts shall be for
the development, construction, and operation of such facilities by the
fund. Construction, acquisition, rehabilitation, improvement, facilities
operation management, mortgaging with any private lender (including
other security or financing arrangements incidental or related thereto
or customary in connection therewith, leasehold mortgaging or assignment
of rents) leasing, subleasing of, providing services for or otherwise
assisting or granting of easements, licenses or other arrangements in
regard to such facilities and underlying land may be provided from time
to time without public bidding or sale by such contracts or leases (and
replacements, modifications, substitutions and renewals thereof) and
upon such terms as the trustees may approve provided, however, that:

a. No contract or lease for real property shall provide for a fee
simple conveyance, or be for a period of greater than thirty years; each
such contract or lease shall be approved by the attorney general, as to
form, the director of the budget and the comptroller of the state of New
York;

b. In the event the real property which is the subject of such lease
or contract shall cease to be used for the purposes authorized by this
section and at the expiration of such contract or lease in any event,
such property and the improvements thereon shall revert to the state
university of New York, and any such lease or contract shall be made
subject to such conditions, and provide for such reverter;

c. The authorization of any facilities or projects in this section
shall expire and be of no further force and effect, unless the approval
of the trustees of the university occurs within three years of the
effective date thereof;

d. Any contracts or leases entered into by the trustees of the state
university of New York pursuant to this section shall require the lessee
or contracting not-for-profit corporation to comply with the
requirements of article fifteen-A of the executive law. Any contract or
lease for construction, rehabilitation, or other improvement authorized
by this section entered into by the trustees shall require the lessee or
contractor and/or subcontractor to comply with the requirements of
section two hundred twenty, two hundred thirty, two hundred thirty-one,
two hundred forty and two hundred forty-one of the labor law, where
applicable, as well as sections one hundred one and one hundred three of
the general municipal law, where applicable;

e. The benefits to the region, state, and university community by the
establishment of a high technology facility at the state university of
New York shall be realized with no negative impact upon the employment
status of state university of New York employees or collective
bargaining units that represent such employees as a result of any
contract or lease authorized by this section;

f. Any agreement, contract or lease authorized by this section shall
include an indemnity provision whereby the lessee or sublessee promises
to indemnify, hold harmless, and defend lessor against all claims,
suits, actions, and liability, to all persons on the leased premises,
including tenants, tenants' agents, contractors, subcontractors,
employees, customers, guests, licensees, invitees, and members of the
public, for damage to any such person's property, whether real or
personal, or for personal injuries arising out of tenants' use or
occupation of the demises premises;

g. Any such lease, contract or agreement authorized by this section
must clearly define the purpose for which the land will be used
consistent with the mission of the state university of New York and the
mission of the campus involved in such lease, contract or agreement; and

h. The fund shall report annually to the state university of New York,
the governor, the speaker of the assembly and the temporary president of
the senate, on each of the facilities and projects authorized by this
section.

2. Subsequent to the approval of the trustees of the state university,
the following facilities are specifically and expressly authorized by
law and to the terms and conditions set forth herein:

a. Pharmaceutical technology/manufacturing building and an affiliated
academic incubator at state university of New York college at
Farmingdale. The state university of New York is authorized to establish
an account to receive payments from leases of the pharmaceutical
technology/manufacturing building. Any payments deposited into this
account may be transferred to the fund for payments related to design,
construction, reconstruction, rehabilitation or improvement of the
affiliated academic incubator authorized in this paragraph.