(a) that cultural institutions in the state promote public interest in
and knowledge of the arts and other cultural activities; attract artists
and others with creative talents who live in proximity  to  and  perform
work  related  to such institutions; and otherwise vitally contribute to
educational, recreational and cultural activities and  opportunities  of
benefit to the people of the state; and that such institutions provide a
wealth  of specialized educational and cultural activities designed for,
among  others,  students,  minority  and  ethnic   populations,   senior
citizens,  the  unemployed,  consumers  and  citizens  interested in the
performing arts; and that it is the sense of the  legislature  that  the
contributions  of such institutions to the people of New York state have
been exceptional;
  (b) that such institutions are essential to the existence of  cultural
centers  in  the state, contribute to the continued existence and growth
in the state of industries  related  to  the  arts  and  other  cultural
activities,  attract  residents  of and visitors to the state, including
patrons of the arts, generate substantial tax and other revenues in  and
for  the  state, and otherwise vitally contribute to the economy and tax
base of the state;
  (c) that recognizing the importance of and public  purpose  served  by
such  institutions,  the state has appropriated and expended substantial
funds for and has otherwise supported and assisted such institutions;
  (d) that there is a serious shortage of required space and  facilities
for  the continued existence, proper operation and needed growth of such
institutions and that there is a serious  shortage  of  required  modern
equipment,  furnishing  and  installations  for the continued existence,
proper operation and needed growth of such institutions;
  (e) that owing to inflation, increases in the cost of energy and other
economic forces, operating expenses of  many  such  institutions  exceed
revenues  from  endowments  and  other  sources; sufficient funds to pay
operating expenses and the costs of needed  expansion,  improvement  and
rehabilitation  of the space and facilities of such institutions are not
available from the state, municipalities or counties  in  the  state  or
other past sources of such funds; and unless corrective action is taken,
the   needed   expansion,   improvement,   equipping,   furnishing   and
rehabilitation of the space and facilities of such institutions will not
be undertaken and such institutions will be  required  to  invade  their
endowments  and  other capital assets to pay operating expenses, thereby
endangering the continued existence and operation of such institutions;
  (f) that a public purpose would be served and  the  interests  of  the
people of the state would be promoted if the collections, endowments and
other  capital  assets of such institutions were preserved and expanded;
if continued operation in the state and  needed  expansion,  improvement
and rehabilitation of the space and facilities of such institutions were
encouraged;  and  if  action  were  taken  to  permit such operation and
expansion, improvement and rehabilitation without additional funds  from
or   adverse  effects  on  the  tax  base  of  the  state,  counties  or
municipalities of the state;
  (g) that many such institutions own or plan to acquire  valuable  real
property  or  interests  in  real property which are unused or underuti-
lized, and such institutions are unable properly to develop or otherwise
fully to utilize and realize the value of such real  property  owing  in
part  to  lack  of  expertise  and  in part to risks to their endowment,
collections and other capital assets;
  (h) that appropriate development and utilization of such real property
and interest in real property and the purchase of capital equipment  and
other  personal  property  would foster continued operation in the state
and needed expansion, improvement and rehabilitation of  the  space  and
facilities of such institutions without additional funds from or adverse
effects  on the tax base of the state, counties or municipalities of the
state; would help provide suitable  housing  accommodations,  commercial
uses and related facilities in proximity to such institutions; and would
otherwise promote the interest of the people of the state;
  (i)  that  development  of suitable housing accommodations, commercial
uses, and related facilities compatible with and complementary  to  such
institutions would help to maintain, strengthen and revitalize the areas
in  which  such  institutions  are  located, that such development would
encourage such institutions to continue  operation  in  such  areas  and
permit needed expansion, improvement and rehabilitation of the space and
facilities  of  such  institutions,  and  that a public purpose would be
served and the interests of the people of the state would be promoted by
the  development  of  such  accommodations,  uses  and   facilities   in
combination with the facilities of such institutions;
  (j)  that  many  not-for-profit  cultural organizations are in need of
development and/or rehabilitation of sufficient and appropriate space to
assure their continued existence and  benefit  for  the  people  of  the
state;  and  that sufficient funds to pay the costs of such needed space
and facilities of such organizations are not  currently  available  from
the  state,  counties  or municipalities; and that a program which would
utilize current resources and bring to bear  other  possible  additional
resources  for  the  development  and  rehabilitation  of  such space is
essential to the continued existence and operation of such organizations
and is therefore found by the legislature to be in the public  interest;
and
  (k)  that  based  on  past  experience,  the private sector alone will
continue to be unable properly to develop such  real  property  and  the
requirements  of  such  institutions  will  not be met unless corrective
action is taken.
  2. The legislature further  finds,  determines  and  declares  that  a
public  purpose  would  be served and the interests of the people of the
state would  be  promoted  by  appropriate  development  of  unused  and
underutilized  real  property  and  interests  in  real property of such
institutions;  that  appropriate  development  of  such  real   property
includes   construction  of  cultural  facilities  and  of  combined-use
facilities  consisting  of   institutional   portions   (including   the
expansion,  improvement or rehabilitation of the space and facilities of
such institutions) and non-institutional  portions  (including  suitable
housing   accommodations,  related  facilities  and  other  lawful  uses
compatible with uses of institutional portions of  such  facilities  and
embodying  architectural  and  design characteristics acceptable to such
institutions); and that  construction  of  cultural  facilities  and  of
combined-use  facilities  often  provides the only economically feasible
method  for  utilizing  such  real  property   for   needed   expansion,
improvement  and  rehabilitation  of  the  space  and facilities of such
institutions.
  3. The legislature further  finds,  determines  and  declares  that  a
public  purpose  would  be served and the interests of the people of the
state would be promoted by the creation  pursuant  to  this  article  of
public  benefit corporations, known as trusts for cultural resources, to
provide for the appropriate development of unused and underutilized real
property and interests in real property of such institutions and for the
construction, equipping and furnishing of combined-use  facilities,  and
of  cultural  facilities  in  accordance  with  this article; that it is
necessary to grant to trusts for cultural resources the  powers,  rights
and duties provided by this article which include the delegation of part
of  the  sovereign  power  of the state; that the creation of trusts for
cultural  resources,  the  exercise  of  such  powers  and  rights,  the
performance  of  such  duties,  and  the carrying out of the purposes of
trusts for cultural resources are in all respects for the benefit of the
people of the state and are and will serve a public purpose; and that in
the exercise of such powers and rights, the performance of  such  duties
and  the  carrying  out  of such purposes, trusts for cultural resources
created under this article will be performing an  essential  public  and
governmental function.
Structure New York Laws
ACA - Arts and Cultural Affairs
Title E - New York State Cultural Resources Act
Article 20 - New York State Cultural Resources Act
20.05 - Legislative Findings and Determinations, and Statement of Purposes.
20.07 - Creation and Purposes of a Trust.
20.09 - Administration of a Trust.
20.11 - General Powers of a Trust.
20.13 - Special Powers of a Trust.
20.17 - Bonds and Notes of a Trust.
20.19 - Security for Bonds or Notes.
20.23 - State's Right to Require a Redemption of Bonds.
20.25 - Remedies of Bondholders and Noteholders.
20.27 - State and Municipalities Not Liable on Bonds and Notes.
20.29 - Agreement of the State.
20.31 - Bonds and Notes as Legal Investments.
20.33 - Exemption From Taxation.
20.35 - Actions by and Against a Trust.
20.37 - Cooperation With the State, Counties and Municipalities.
20.39 - Annual and Other Reports.