S. 922-A Summary

• Repeals Chapter 899 of the Laws of 1984 and creates the Roosevelt Island Operating Corporation as a public benefit corporation under the supervision of the Commissioner of Homes and Community Renewal.

• Establishes a nine-member Board of Directors including the Commissioner (as Chair), Director of the Budget, and seven public members appointed by the Governor with Senate approval, with at least four board members required to be Roosevelt Island residents.

• Transfers all rights, obligations, and management responsibilities of the Urban Development Corporation regarding Roosevelt Island's development and operation to the new corporation, including the master lease and tramway franchise.

• Prohibits further development or construction on designated open space areas (Lighthouse Park, Octagon Park, Blackwell Park, and South Point Park) unless for park purposes or historic landmark restoration.

• Grants the corporation powers to sue, contract, acquire property, charge fees, employ staff, and manage Roosevelt Island facilities, while prohibiting the corporation from issuing bonds or debt obligations.