Hudson Yards Development Corporation

“The corporation shall have thirteen (13) members, being the persons holding the following offices within the government of the city of new york(the "city") or specified offices of entities affiliated with the city, or offices successor to the same: (a) the deputy mayor for operations, (b) the deputy mayor for economic development and rebuilding, (c) the director of management and budget, (d) the commissioner of housing preservation and development, (e) the commissioner of parks and recreation, (f) the commissioner of small business services,(g) the chair of the city planning commission, (h) the president of new york city economic development corporation, (i) the speaker of the council, (j) the comptroller, (k) the president of the borough of manhattan, (l) the councilmember representing council district no. 3, and (m) the chairperson of manhattan community board no. 4. Such membership shall be divided into 13 sections (each,a "membership section"), with each individual membership comprising a section, denominated section a through section m as indicated above. Each membership section shall constitute a special membership section pursuant to section 703 of the not-for-profit corporation law.”

“Each membership section of the corporation shall be entitled to elect one director and one alternate director. Directors and alternate directors shall be elected at the annual meeting of the members, provided that any vacancy in any membership section's director or alternate director positions may be filled by that membership section at the next annual meeting of members or any special meeting of the members called for that purpose. Each member shall elect him or herself as a director. The election of each alternate director shall be made in reference to an office or position then held by the alternate director, and the alternate director shall serve ex officio.”

“Any alternate director may be removed, with or without cause, at any meeting of members, by the member who elected such alternate director, or such member's proxy.”

“An independent accountant prepares the annual form 990 and submits it to lincoln patel, vice president and counsel, and susan gil, treasurer and controller, for review. Once the vice president and counsel approved, it is filed with the internal revenue service.”

“Hydc enforces compliance with its conflicts of interest policy. All hydc employees are subject to the city of new york's conflicts of interest rules and regulations by virtue of hydc employment policies and are also subject to hydc's own written code of ethics policy. The city's conflicts of interest policy is set forth in chapter 68 of the new york city's charter, which is included in the hydc manual. All employees are required to acknowledge understanding and compliance with the manual's directives as a condition of employment. The organization follows sec. 12-110 of the nyc administrative code, according to which the following categories of people are required to file the city of new york's conflicts of interest board's financial report each year. Agency head, deputy agency head, assistant agency head and member of any board of commission and any person whose responsibilities involve the independent exercise of managerial or policymaking functions, as annually determined by the appointing authority of his or her agency. Any employee whose duties involve the negotiation, authorization or approval of contracts, leases, franchises, revocable consents, concessions and application of zoning changes, variances and special permits, as defined by his or her agency head or employer.”

“Corporation policy on salary, compensation, reimbursements, time and attendance. The senior management of hydc consists of its president, vice president and counsel and treasurer and controller. The salary of the president shall be commensurate with the salaries of commissioners under the mayor's personnel orders regarding managerial pay plans. The salary of the vice president and counsel shall be commensurate with the amount of salary received by deputy commissioners. The policies regarding other compensation (including pension), reimbursement, time and attendance of senior management shall be substantially similar to the policies for the new york city economic development corporation and shall be set forth in a personnel handbook that is applicable to all employees of hydc.”

“The form 990, governing documents and conflicts of interest policy are available to the public upon request.”

“The process has not changed from the prior year.”