§ 11. Construction contracts. (1) Construction contracts let by the
corporation shall be in conformity with the applicable provisions of
section one hundred thirty-five of the state finance law, provided,
however, that construction contracts let by subsidiaries of the
corporation which are housing companies shall be governed by the
applicable provisions of the private housing finance law; provided
further, however, that in the case of industrial projects, whenever the
corporation determines that trade secrets or other confidential
information about the prospective project occupant's business
operations, products, processes or designs would be revealed by public
bidding, the requirements of section one hundred thirty-five of the
state finance law with respect to public bidding may be waived. In such
event, separate specifications shall be prepared for, and separate and
independent contracts shall be entered into, for the following three
subdivisions of work to be performed: (a) plumbing and gas fitting; (b)
steam heating, hot water heating, ventilating and air conditioning
apparatus; and (c) electric wiring and standard illuminating fixtures.

(2) The corporation may, in its discretion, assign contracts for
supervision and coordination to the successful bidder for any
subdivision of work for which the corporation receives bids. Any
construction contract awarded by the corporation shall contain such
other terms and conditions as the corporation may deem desirable. The
corporation shall not award any construction contract except to the
lowest bidder who, in its opinion, is qualified to perform the work
required and who is responsible and reliable. The corporation may,
however, reject any or all bids or waive any informality in a bid if it
believes that the public interest will be promoted thereby. The
corporation may reject any bid if, in its judgment, the business and
technical organization, plant, resources, financial standing, or
experience of the bidder justifies such rejection in view of the work to
be performed.