A municipal community development agency, to be known as the Gloversville 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, be perpetual in duration and consist of five members to be appointed by the mayor subject to the approval of the common council, one of which members may be the mayor of the city of Gloversville and one of which members may be a member of the common council of the city of Gloversville. It shall have the powers and duties now or hereafter conferred by article fifteen-A of this chapter upon municipal urban 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 § 589