N.Y. Gen. Mun. Law § 627
A community development agency, to be known as the city of Fulton community development agency, is hereby established for the accomplishment of any or all of the purposes specified in articles fifteen and fifteen-A of this chapter and in accordance with article eighteen of the constitution of the state of New York. It shall constitute a body corporate and politic, and be perpetual in duration and its members shall be the mayor and the aldermen of the city of Fulton. It shall have the powers and duties now or hereafter conferred by article fifteen-A of this chapter upon municipal renewal agencies. It shall be organized in the manner prescribed by and be subject to the provisions of article fifteen-A of this chapter and the agency, its members, officers and employees and its operations and activities shall in all respects be governed by the provisions of such article.
N.Y. Gen. Mun. Law § 627