§ 6. Purposes of the corporation. (1) To facilitate the comprehensive
development of urban areas throughout the state and to promote the
health, safety, welfare and prosperity of the people of the state by
maximizing the resources, talents and energies of the private sector of
the economy, by encouraging local initiative and local participation in
the projects of the corporation, and by relieving the burdens of
government in connection with such development.

(2) In cooperation with the private sector of the economy and with
federal, state and local government, to assist in providing safe and
decent housing for persons and families which cannot afford the prices
and rentals of housing provided through the unaided efforts of private
enterprise, and in connection therewith:

(a) To carry out and to facilitate the acquisition, construction,
reconstruction, and rehabilitation of housing projects, as defined
herein and to sell or lease such projects to families which would
otherwise be unable to afford safe and decent housing accommodations.

(b) To make loans or grants for the acquisition, construction,
reconstruction and rehabilitation of housing projects, as defined herein
and in connection therewith to provide technical advice and assistance
to persons and firms undertaking such rehabilitation and to encourage
new means and technologies to carry out such rehabilitation to the end
that persons previously unable to enjoy the benefits of home ownership
will be able to afford their own homes.

(c) To utilize the state capital grant low rent assistance program,
pursuant to section forty-four-a of the private housing finance law, in
housing projects of the corporation, in order to increase the
availability of housing accommodations for persons and families of low
income.

(3) In order to reduce unemployment, provide opportunities for
additional and maximum employment, the creation of better job
opportunities, and the improvement of individual job skills, to attract
new industries to urban areas of the state and to promote the economy
and prosperity of such areas, to carry out, facilitate and make loans
for the acquisition, construction, reconstruction and rehabilitation of
industrial plants and facilities, including the furnishing of machinery
and equipment therein, manufacturing, commercial, research and warehouse
and other business facilities; and to lease space in such facilities to
qualified users thereof.

(4) To acquire land, whether or not such land constitutes a
substandard or insanitary area, for any of its corporate purposes,
including the development of housing and industrial projects, as defined
herein, to clear, improve and prepare such land for development, to
carry out the development of such land, or to make the same available by
sale, lease or otherwise to private investors and developers when such
disposition is, in the judgment of the corporation, necessary or
desirable for the development of the community in which such land is
situated.

(5) To cooperate with the private sector of the economy, including the
urban development guarantee fund of New York, and with the federal,
state and local governments, and agencies thereof, including the New
York state urban development corporation, in order to coordinate public
and private efforts in the development of urban areas throughout the
state, including housing, industry and commerce, educational and
recreational facilities, and transportation and other public services
and facilities.

(6) To encourage and facilitate, in connection with any of its
projects, participation in construction work by residents of the area in
which such projects are to be located, and to encourage and facilitate
participation by such residents in the business operations of tenants
and occupants of industrial projects of the corporation.

(7) To conduct, assist, promote and encourage scientific,
technological and administrative research and experimentation in the
fields of low cost housing, of rehabilitating, reconstructing and
renewing blighted, deteriorated and deteriorating areas, and of
protecting against the hazards of unemployment and underemployment; of
developing and testing and encouraging the development and testing of
new methods of constructing, rehabilitating and improving low cost
housing, of developing and testing and encouraging the development and
testing of new methods of rehabilitating, reconstructing, and renewing
blighted, deteriorated and deteriorating areas; of planning for the
comprehensive development of communities; of acting as a clearing house
and distributing agency of the results of such research and
experimentation, and of conducting, assisting and encouraging research
and experimentation on such other aspects of providing safe, sanitary
and adequate low cost housing; of rehabilitating, reconstructing and
renewing blighted or deteriorated and deteriorating areas, and of
providing increased job opportunities as the corporation shall deem
advisable.