N.Y. Pub. Auth. Law § 1811

§ 1811. Application of subtitle. Subject to the provisions of sections\neighteen hundred twenty-two and eighteen hundred twenty-three of this\ntitle, the authority shall have the power and is hereby authorized to\nmake mortgage loans to local development corporations and loan\nguarantees to banking organizations with special purpose funds pursuant\nto this subtitle for costs of projects and to make loans and loan\nguarantees as provided in section eighteen hundred fourteen to improve\nemployment opportunities in any area of the state.\n