A.5601 Summary

• Repeals Chapter 899 of the Laws of 1984 and creates a new 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 composed of the commissioner (chair), director of the budget, two members recommended by the mayor, and four Roosevelt Island residents appointed by the governor with Senate consent.

• Transfers all development, management, and operational rights and obligations of the Urban Development Corporation related to Roosevelt Island to the new corporation, including the main lease and tramway franchise.

• Prohibits further development or construction for non-park purposes on designated open space areas (Lighthouse Park, Octagon Park, Blackwell Park, and South Point Park) for the duration of the lease.

• Authorizes the corporation to charge fees for facilities, accept grants and assistance, provide not-for-profit grants up to 3% of operating budget, and regulate vehicle operation on Roosevelt Island.