§ 2799-oooo. Not-for-profit grant distribution. 1. The corporation is
authorized to provide financial assistance in the form of grants to
not-for-profit corporations that provide direct services or benefits to
the residents of Roosevelt Island, the totality of such grants not to
exceed three per centum per annum of the operating budget of the
corporation, and upon the approval of a majority of the entire board of
the corporation.

2. Annually, within ninety days after the end of the fiscal year of
the corporation, the corporation shall post a report on its website that
shall list and identify each grant recipient in such fiscal year, the
amount provided to each recipient, and a general description of the
public benefit of each grant.