§ 2561. Legislative findings and declarations. It is hereby found and
declared that existing facilities in the city for conventions, trade
exhibitions and public shows including services for the operation and
maintenance thereof are inadequate; that construction and operation of a
convention center to adequately accommodate these activities would
generate new business and employment opportunities, increase the number
of public facilities, provide new sources of tax revenue and promote
orderly redevelopment in the vicinity of the convention center, all of
which would serve the interests of the city and state.

It is further found and declared that the area in New York county
generally bounded by thirty-ninth street on the north, thirtieth street
on the south, eleventh avenue on the east and twelfth avenue on the west
is an area characterized by deteriorated industrial and commercial
structures, uncoordinated and incompatible commercial uses, inadequate
public facilities and unsanitary and substandard conditions, all of
which are detrimental to the economic and social well-being of residents
of the city and state and that the location and operation of a
convention center in such area will serve as a catalyst for
redevelopment and a rejuvenation of civic pride and accomplishment.

It is further found and declared that the convention center will
provide significant economic and social benefits to the city, state and
region, and that, consistent with social, economic, environmental and
other essential considerations of state policy, locating the convention
center in the area generally bounded by thirty-ninth street on the
north, thirtieth street on the south, eleventh avenue on the east and
twelfth avenue on the west is in the public interest, considering the
convenience and accessibility of location, the elimination of unsanitary
and substandard conditions, the nature and economic characteristics of
various other sites considered and the immediacy of the needs of the
people of the state for the realization of the significant economic and
social benefits to be derived from the convention center.

Therefore, it is hereby found and declared that it is in the public
interest to create a public benefit corporation for the purposes of
operating and maintaining a convention and exhibition center and to vest
such powers in such corporation as are necessary or convenient to
effectuate these functions, and that the exercise of the rights and
powers herein authorized shall serve a public purpose.