Bill Text: NY A02681 | 2011-2012 | General Assembly | Introduced
Bill Title: Expands the provisions of the urban development action area act by amending the definition of municipality and eligible area to include any city instead of specifically applying to a city with one million or more.
Spectrum: Strong Partisan Bill (Republican 15-1)
Status: (Introduced - Dead) 2012-01-04 - referred to local governments [A02681 Detail]
Download: New_York-2011-A02681-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
2681
2011-2012 Regular Sessions
I N A S S E M B L Y
January 20, 2011
___________
Introduced by M. of A. FITZPATRICK, FINCH, RABBITT, TEDISCO -- Multi-
Sponsored by -- M. of A. BARCLAY, BURLING, CONTE, CROUCH, GIGLIO,
McDONOUGH, RAIA, SAYWARD, THIELE -- read once and referred to the
Committee on Local Governments
AN ACT to amend the general municipal law, in relation to expanding the
provisions of the urban development action area act
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivisions 2 and 3 of section 692 of the general munici-
2 pal law, subdivision 2 as amended by chapter 555 of the laws of 1994 and
3 subdivision 3 as amended by chapter 492 of the laws of 2002, are amended
4 to read as follows:
5 2. "Municipality". A city [having a population of one hundred thousand
6 or more] and the town of Huntington.
7 3. "Eligible area". Real property, title to which is held by a munici-
8 pality. Provided, however, that [in a city of one million or more,]
9 property that the city conveys by deed made pursuant to a judgment of
10 foreclosure in an in rem tax lien foreclosure proceeding, or property
11 whose conveyance is caused by, or the result of, the city's foreclosure
12 of a tax lien thereon, including property to which title has not vested
13 in the city, which is then acquired by a third party, shall also be
14 deemed an eligible area under this article. Provided further, however,
15 that in a city of one million or more, property that has been acquired
16 by the federal government as the result of the foreclosure of a mortgage
17 loan insured or held by the federal government shall also be deemed an
18 eligible area under this article. Provided further, however, that real
19 property consisting of two contiguous acres or more of wooded land which
20 exists as substantially undeveloped at the time this article becomes
21 effective shall not be included as an eligible area for purposes of this
22 article.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03048-01-1
A. 2681 2
1 S 2. Subdivision 2 of section 696-d of the general municipal law, as
2 added by chapter 680 of the laws of 1996, is amended to read as follows:
3 2. Notwithstanding the provisions of any general, special or local
4 law, the agency [in a city having a population of one million or more]
5 is hereby authorized to make or contract to make mortgage loans or to
6 participate with another lender in the making of mortgage loans for the
7 development of any neighborhood improvement project that such agency
8 determines to be an improvement associated with the construction or
9 rehabilitation of private or multiple dwellings. Real property assisted
10 with a loan pursuant to this section shall be located: (i) in an urban
11 development action area; (ii) in proximity to an urban development
12 action area; or (iii) in proximity to an urban development action area
13 project for which the area designation requirement was waived pursuant
14 to section six hundred ninety-three of this article.
15 S 3. This act shall take effect immediately.
