New York Laws
Article 6 - Urban Redevelopment Corporations
219 - Sale or Lease of Real Property by a City to a Redevelopment Corporation.

§ 219. Sale or lease of real property by a city to a redevelopment
corporation. 1. The local legislative body, or if there is a board of
estimate in the city, then the board of estimate, may by resolution
determine that real property, title to which is held by the city,
specified and described in such resolution, is not required for use by
the city and may authorize the city to sell or lease such real property
to a redevelopment corporation; provided, however, that the title of the
city to such real property be not declared inalienable by charter of the
city, or other similar law or instrument.

2. Notwithstanding the provisions of any general, special or local law
or ordinance, such sale or lease may be made without appraisal, public
notice or public bidding for such price or rental and upon such terms
(and, in case of a lease, for such term not exceeding fifty years with a
right to one renewal term of thirty years) as may be agreed upon between
the city and the redevelopment corporation.

3. Before any sale or lease to a redevelopment corporation shall be
authorized, a public hearing shall be held by the local legislative
body, or by the board of estimate, as the case may be, to consider the
proposed sale or lease.

4. Notice of such hearing shall be published at least ten days before
the date set for the hearing in such publication and in such manner as
may be designated by the local legislative body, or the board of
estimate, as the case may be.

5. The deed or lease of such real property shall be executed in the
same manner as a deed or lease by the city of other real property owned
by it and may contain appropriate conditions and provisions to enable
the city to reenter the real property in the event of a violation by the
redevelopment corporation of any of the provisions of this article
relating to such redevelopment corporation or of the conditions or
provisions of such deed or lease.

6. A redevelopment corporation purchasing or leasing real property
from a city shall not, without the written approval of the city, use
such real property for any purpose except in connection with its
development. The deed shall contain a condition that the redevelopment
corporation will devote the real property granted only for the purposes
of its development subject to the restrictions of this article, for
breach of which the city shall have the right to reenter and repossess
itself of the real property.