(a) Sue and be sued;

(b) Have a seal and alter the same at pleasure;

(c) Make and alter by-laws for its organization and internal management and make rules and regulations governing the use of its property and facilities;

(d) Make and execute contracts and all other instruments necessary or convenient for the exercise of its powers and functions under this chapter;

(e) Acquire, hold and dispose of real or personal property for its corporate purposes;

(f) Engage the services of private consultants on a contract basis for rendering professional and technical assistance advice;

(g) Procure insurance against any loss in connection with its activities, properties and other assets, in such amount and from such insurers as it deems desirable; and

(h) Invest any funds of the corporation, or any other monies under its custody and control not required for immediate use or disbursement, at the discretion of the corporation, in obligations of the state or the United States government or obligations the principal and interest of which are guaranteed by the state or the United States government, or in any other obligations in which the comptroller of the state is authorized to invest pursuant to section ninety-eight of the state finance law. 8. The corporation will encourage the creation of local housing partnerships; such partnerships may include but not be limited to members of the business community, the financial community, housing developers, builders, not-for-profit organizations and community leaders who are committed to the development of low income housing within such community. 9. The corporation will facilitate the coordination of local housing partnerships and existing state, federal and local programs which promote the development of low income housing. 10. The corporation may do any and all things necessary or convenient to carry out and exercise the powers given and granted by this section and article eighteen of this chapter including, but not limited to contracting with the commissioner of the division of housing and community renewal to administer any of the provisions of the special needs housing act of 1988 and articles eighteen and eighteen-A of this chapter. 11. The division of housing and community renewal and all other state officers, departments, boards, divisions, commissions, public authorities and public benefit corporations may render such services to the corporation within their respective functions as may be requested by the corporation. 12. Notwithstanding the provisions of article one-A of the public authorities law, contracts entered into by the corporation pursuant to articles eighteen and eighteen-A of this chapter shall not be subject to the provisions of article one-A of the public authorities law.