N.Y. Urban Development Research Corporation Act § 2

Current through 2024 NY Law Chapter 553

Section 2 - Statement of legislative findings and purposes

The legislature hereby finds, determines and declares that there exists in this state:

(a) a seriously inadequate supply of safe and sanitary dwelling accommodations within the financial reach of a substantial number of families and persons, including aged persons, living within the state;

(b) a substantial number of dwelling accommodations, including many sheltering one to four families, which are structurally sound, but substandard or deteriorating;

(c) a serious condition of involuntary unemployment and underemployment causing severely adverse social and economic consequences, including the waste of human resources, the growth of crime and delinquency, the loss of educational opportunities for many of our youth, and the burden on the state and local governments of increasing public assistance payments and decreasing tax revenues;

(d) many residential, commercial and industrial areas which are substandard and insanitary or which are becoming substandard and insanitary because of blighted, obsolete, deteriorated or deteriorating conditions;

(e) a serious need for extensive and in-depth research and experimentation to discover new, better, and cheaper methods of constructing and rehabilitating low cost housing; of constructing, reconstructing, rehabilitating and improving commercial, manufacturing and industrial facilities; of rehabilitating, reconstructing and renewing substandard, deteriorated and deteriorating areas; and of protecting against the hazards of involuntary unemployment and underemployment.

The legislature further finds and declares that such conditions cannot be corrected by the ordinary operations of private enterprise and are contrary to the public interest. They threaten the health, safety, welfare, morale, comfort and security of the people of this state.

The legislature hereby declares it to be the policy of this state to provide an adequate supply of safe and sanitary dwelling accommodations; to increase job opportunities and protect against involuntary unemployment and underemployment by promoting, attracting, stimulating and revitalizing business, commerce, industry and manufacturing in the urban areas of the state; and to arrest the spread of deterioration and blight and promote the economic and physical development of such areas through the construction, reconstruction, rehabilitation and improvement of residential, commercial and industrial structures and facilities therein.

For these purposes, there should be created a nonprofit corporation known as "Corporation for Urban Development and Research of New York" which, with grants and loans from private sources, through the issuance of bonds and notes to the investing public, and through participation in federal, state, and local programs, may independently and in cooperative effort with the New York state urban development corporation and the urban development guarantee fund of New York, acquire, construct, reconstruct, rehabilitate and improve, and finance the acquisition, construction, reconstruction, rehabilitation and improvement of, housing accommodations and industrial, manufacturing, commercial and recreational structures and facilities; clear, replan, reconstruct, and rehabilitate such substandard and insanitary areas; and conduct research and experimentation in all these fields.

The legislature further finds and declares that such a non-profit corporation organized for such purposes and with the powers and authorities necessary to accomplish them cannot be created under any general law; that such a corporation being necessary and proper to obtain the ends here recited, it should be created by a special act of the legislature.

N.Y. Urban Development Research Corporation Act § 2