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This entry was published on 2014-09-22
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SECTION 21.07
Special powers of the trust relating to assisting participating cultural institutions
Arts and Cultural Affairs (ACA) CHAPTER 11-C, TITLE E, ARTICLE 21
§ 21.07. Special powers of the trust relating to assisting
participating cultural institutions. In addition to such powers as are
conferred elsewhere in article twenty of this chapter and this article,
the trust shall have the following powers which may be exercised, at the
discretion of the board of trustees, solely and exclusively in
furtherance of its corporate purposes with or without public auction or
bidding:

1. to undertake surveys of the present and anticipated needs of
cultural institutions in the city, including without limitation the need
for development of the facilities of such institutions, in order to
determine whether or not the trust may effectively exercise its powers
and fulfill its purposes in cooperation with any such institution;

2. to acquire, construct, install, equip, furnish, renovate,
modernize, and otherwise develop combined-use facilities and cultural
facilities or cause such combined-use facilities and cultural facilities
to be so developed, in accordance with this article and article twenty
of this title, to acquire in connection therewith real property or
interests in real property of a participating cultural institution or of
the city, or of the developer or other persons whose participation the
trust deems necessary for the development of any such combined-use
facility or cultural facility, subject (if applicable) to the retention
or creation by any such parties of any future or remainder interests in
such property, all of which shall be valid notwithstanding any rule
against perpetuities, and in connection therewith, to install or cause
to be installed water, fuel, gas, electrical, telephone, heating,
air-conditioning and other utility services, including appropriate
connections;

3. to maintain, repair, keep up, manage and operate its real property
and any combined-use facility or part thereof or any cultural facility
or part thereof developed by or pursuant to an agreement with it, by
means which may include the enforcement of its rules and regulations in
the manner described in subdivision d of section two hundred two of the
not-for-profit corporation law with the same effect as though such
subdivision applied to the trust and to such property and combined-use
facility or cultural facility;

4. to offer to convey and to convey all or any part of the
non-institutional portion of a combined-use facility or any interest
therein, and to take any and all actions deemed necessary or appropriate
by the trust to advertise, promote, encourage, and effect such
conveyances, all future or remainder interests created or retained by
the trust in connection therewith which shall be valid notwithstanding
any rule against perpetuities;

5. to convey with or without consideration, to a participating
cultural institution the institutional portion of a combined-use
facility or a cultural facility developed in cooperation with such
institution and any real property held by the trust in connection with
such development;

6. to enter into a partnership, joint venture or other enterprise in
any capacity deemed by it to be appropriate, for the purpose of
developing and operating a combined-use facility or any part thereof or
a cultural facility or any part thereof;

7. to convey, without public auction or bidding, any real property to
a developer for the purpose of developing therein or thereon a
combined-use facility, or a part or portion thereof, or a cultural
facility, or any part or portion thereof, subject to the creation or
retention by the trust and/or a participating cultural institution of
such future or remainder interests in such property as it deems
appropriate, all of which shall be valid notwithstanding any rule
against perpetuities;

8. to purchase or lease the institutional portion of a combined-use
facility or all or any portion of a cultural facility from the developer
thereof for use and occupancy by a participating cultural institution;

9. to furnish cultural institutions with advice and with technical and
other assistance; to act as liaison with federal, state and municipal
and other local authorities and with users and occupants of combined-use
facilities and cultural facilities with respect to the cultural,
recreational and educational activities provided by cultural
institutions; and otherwise to foster and encourage greater public
knowledge of, and participation in, the cultural, recreational and
educational activities of such institutions;

10. to organize one or more wholly-owned subsidiary corporations under
any applicable provision of law and to perform through such subsidiaries
or cause such subsidiaries to perform all or any part of its powers and
functions;

11. to establish and promulgate such rules and regulations as the
trust may deem necessary, convenient or desirable for the use and
operation of any combined-use facility, or part thereof, or cultural
facility, or part thereof, and for the use of any real property
developed or to be developed by or pursuant to an agreement with it,
including but not limited to rules and regulations governing the conduct
and safety of the public on such premises;

12. to make and execute such agreements, including without limitation,
instruments of conveyance and agreements with participating cultural
institutions with respect to the architectural and design
characteristics of any combined-use facility or cultural facility, as
are necessary or convenient for the exercise of its corporate powers and
the fulfillment of its purposes; and

13. to make loans in accordance with article twenty of this chapter.