NYC 9/11 Public Portal Document
SKADDEN ARPS 4 912129564732P965130 NO.343 104
09/27/2001 16:46
2. Allow Authority to confer such exemptions as it deems necessary,
convenient or desirable
VI. Eminent domain
Provide condemnation power similar to Empire State Development Corporation's
condemnation power, which allows condemnation for economic development
purposes, Unconsolidated Law, sections 6260, 6263
VII. Financing
A. Provide Authority with the power to accept gifts, grants, loans or financial or
other aid in any form from the federal, State or City government or any
agency or instrumentality thereof, or from any other source and to expend the
proceeds in accordance with its powers and purposes; Authority could be
designated the primary recipient of federal relief funding
B. Authority could be designated as exclusive recipient and appropriating
authority for federal relief funding (as opposed to monies flowing to City or
State treasury)
C. Provide Authority with IDA-type bonding authority or broader bonding
authority with dedicated revenue source
VII!. Sunset
A. Sunset for the Authority or for specific powers of the Authority
NYC-WTC 000136352
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