N.Y.
Public Authorities Law Section 826
Central New York Regional Market Authority
1.
There is hereby created and established a district to be known as the “central New York regional market district,” hereinafter in this title referred to as “the district,” which shall embrace all the territory included within the following named counties: Cayuga, Cortland, Madison, Oneida, Onondaga, Oswego, that territory in Wayne county lying east of the new pre-emption line. For the accomplishment of the purposes hereinafter indicated relative to that district there is hereby created and established a public benefit corporation, to be known as “Central New York Regional Market Authority,” hereinafter in this title referred to as “the authority.” Such authority shall have perpetual existence and the power to acquire by the exercise of the right of eminent domain or otherwise such real estate within the district and other property as may be necessary, to sue and be sued, to incur debts, liabilities and obligations, to issue bonds and other evidences of indebtedness, to have a seal, and to exercise all powers authorized by this title and reasonably necessary for accomplishing its purposes, subject to the provisions herein contained and the constitution and laws of the United States and of New York state. Such powers shall be exercised in the name of the “Central New York Regional Market Authority.” 2. In fulfilling the authority’s mission, the board shall work cooperatively and in consultation with the department of agriculture and markets to ensure the proper development of agriculture and regional market facilities, in the central New York regional market district. The board and the department of agriculture and markets, hereinafter in this title referred to as “the department,” shall jointly develop a plan for the future development and viability of agriculture and regional market facilities in the district. Such plan shall include both short-term and long-term goals and objectives as well as actual and projected revenues and expenditures. Such plan shall annually allocate no less than seventy-five percent of the authority’s available funds for the creation, development, and enhancement of agriculture and regional market facilities, in the district. For purposes of this subdivision, available funds shall mean the net amount available after contractually obligated expenditures are subtracted from, but not be limited to, cash, cash equivalents, certificates of deposit, and other receivables available. The board and department shall meet annually prior to the close of the authority’s fiscal year to evaluate the effectiveness of the use of funds for that fiscal year, review the goals and objectives of the plan, and properly prepare for the allocation and use of such funds for the next fiscal year. The plan shall be updated annually to make appropriate modifications to such plan for the next fiscal year. Prior to any such funds being expended, both the board and the department must approve such plan, its goals and objectives as well as the projected revenues and proposed allocations.3.
The authority shall furnish an annual real estate report detailing all real estate holdings and detailed property information, including but not limited to the tenants, important lease terms, rents, durations of leases, as well as copies of each lease. Notwithstanding any other provision of law to the contrary, the authority shall furnish all required reports, audits, and reviews, including the annual real estate report, to all parties enumerated in paragraph (a) of subdivision one of § 2800 (Annual reports by authorities)section twenty-eight hundred of this chapter, to the department of agriculture and markets, as well as publish such report on its website within ninety days after the end of its fiscal year.
Source:
Section 826 — Central New York Regional Market Authority, https://www.nysenate.gov/legislation/laws/PBA/826 (updated Dec. 20, 2024; accessed Jan. 18, 2025).
