N.Y. Not-For-Profit Corp. Law § 1617

§ 1617. Contracts.\n (a) The land bank may, in its discretion, assign contracts for\nsupervision and coordination to the successful bidder for any\nsubdivision of work for which the land bank receives bids. Any\nconstruction, demolition, renovation and reconstruction contract awarded\nby the land bank shall contain such other terms and conditions as the\nland bank may deem desirable. The land bank shall not award any\nconstruction, demolition, renovation and reconstruction contract greater\nthan ten thousand dollars except to the lowest bidder who, in its\nopinion, is qualified to perform the work required and who is\nresponsible and reliable. The land bank may, however, reject any or all\nbids or waive any informality in a bid if it believes that the public\ninterest will be promoted thereby. The land bank may reject any bid, if,\nin its judgment, the business and technical organization, plant,\nresources, financial standing, or experience of the bidder justifies\nsuch rejection in view of the work to be performed.\n (b) For the purposes of article fifteen-A of the executive law only,\nthe land bank shall be deemed a state agency as that term is used in\nsuch article, and all contracts for procurement, design, construction,\nservices and materials shall be deemed state contracts within the\nmeaning of that term as set forth in such article.\n