§ 2651. Statement of legislative findings. It is hereby found,
determined and declared that there is an immediate need to institute a
comprehensive, coordinated program of economic development activities in
the Route 5 and Route 7 corridors of Schenectady county, especially in
the downtown region of the city of Schenectady.

It is further found, determined and declared to be desirable to create
a Schenectady metroplex development authority to provide the state of
New York, and the county of Schenectady, with the capability to
effectively and efficiently develop, renovate and optimize the economic
and social activities of the Route 5 and Route 7 corridors of
Schenectady county.

It is also hereby found, determined and declared that existing
facilities in the Route 5 and Route 7 corridors of Schenectady county,
for conventions, trade exhibitions, public shows, public entertainment,
hotel accommodations, transportation, historic preservation, tourism,
sporting events, social and educational centers, and retail, business,
commercial and government office space, including services for the
operation and maintenance thereof, are inadequate.

It is further found, determined and declared that the construction and
operation of such new facilities to adequately accommodate such
activities would generate new business, create employment opportunities,
provide new sources of tax revenue, and promote effective and orderly
redevelopment in the vicinity of the Route 5 and Route 7 corridors of
Schenectady county, all of which would serve the interests of the state
of New York, and the county of Schenectady.

It is also found, determined and declared that the area in the
vicinity of the Route 5 and Route 7 corridors of Schenectady county is
an area characterized by deteriorated industrial and commercial
structures, uncoordinated and incompatible commercial uses, inadequate
public facilities, and substandard conditions, all of which are
detrimental to the economic and social well-being of residents of the
state of New York and the county of Schenectady, and that the
construction and operation of such new facilities in such area will
serve as a catalyst for redevelopment, and a rejuvenation of civic pride
and accomplishment.

It is further found, determined and declared that the construction and
operation of such new facilities will provide significant economic and
social benefits to the state of New York, the county of Schenectady, and
the entire capital district region, and that, consistent with social,
economic, environmental and other essential considerations of state
policy, locating these new facilities in the Route 5 and Route 7
corridors of Schenectady county is in the public interest, given the
convenience and accessibility of the location, the elimination of
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 this development.

It is also found, determined and declared that the development of the
Route 5 and Route 7 corridors of Schenectady county is a matter of
essential state and county concern, and that the establishment and
creation of a Schenectady metroplex development authority is necessary
to provide for the economic prosperity, health, safety and general
welfare of the people of the county of Schenectady and the state of New
York, through the construction, development, location and operation of
these new facilities.

It is further found, determined and declared that is the intent of the
legislature that the Schenectady metroplex development authority shall
carry out its purposes and responsibilities directly and through
agreements with federal, state and local entities and authorities, and
that the Schenectady metroplex development authority shall be created as
a public benefit corporation and that the corporate programs and powers
conferred under this title and the expenditures of public moneys
pursuant thereto, are in furtherance of a valid public interest and
public purpose.