* § 2799-aaaa. Legislative declaration. The legislature hereby finds,
determines and declares that: (a) the city of New York and the New York
state urban development corporation have entered into a lease providing
for the urban development corporation to use its statutory powers to
create on Roosevelt Island a new community which would retain and
heighten the benefits of urban living while preserving a sense of scale
and open space for Roosevelt Island residents and New York city as a
whole; (b) the urban development corporation has and its successors have
constructed the first phases of the island's development, including
public facilities, pursuant to a general development plan for Roosevelt
Island, which plan is being updated and which plan contemplates
significant future development, including the provision of additional
housing, commercial, civic, recreational and other facilities; (c) it is
in the public interest for the urban development corporation to transfer
all of its rights and obligations with respect to the development,
operation and supervision of both such existing and such proposed
development to a public benefit corporation which shall be under the
supervision of the commissioner of homes and community renewal; and (d)
it is in the public interest that the public benefit corporation plan,
design, develop, operate, maintain and manage Roosevelt Island and have
vested in it such powers as are necessary or convenient to effectuate
those functions and that the division of housing and community renewal
be authorized to assist such corporation in the performance of its
duties with respect to Roosevelt Island.