Bill Text: NY A07748 | 2015-2016 | General Assembly | Introduced

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Bill Title: Extends the aggregate term of a lease between SUNY Stony Brook and a not-for-profit corporation from 60 years to 83 years.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2015-12-11 - signed chap.535 [A07748 Detail]

Download: New_York-2015-A07748-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7748
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 26, 2015
                                      ___________
       Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
         Committee on Higher Education
       AN ACT to amend chapter 830 of the laws of 1986, authorizing  the  state
         university  of  New  York  to  contract  or lease for hotel/conference
         center facilities at the state university of New York at Stony  Brook,
         in  relation to extending the aggregate term of said contract or lease
         from sixty to eighty-three years
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section 2 of chapter 830 of the laws of 1986, authorizing
    2  the  state  university  of  New  York   to   contract   or   lease   for
    3  hotel/conference  center  facilities at the state university of New York
    4  at Stony Brook, is amended to read as follows:
    5    S 2. The trustees of state university of New York are  hereby  author-
    6  ized  to  enter  into  a  contract with a not-for-profit corporation, an
    7  educational corporation or  any  other  person  (other  than  the  state
    8  government  or  any agency thereof or any public authority) for lease of
    9  the lands described in section three of this act. Such  lease  shall  be
   10  made  for  the  purposes  set forth in section one hereof, specifically,
   11  construction and operation of a hotel and/or conference center including
   12  facilities for the accommodation of overnight visitors to the campus and
   13  other related service, commercial or recreational  facilities.  No  such
   14  contract  or  lease  shall  provide  for a fee simple conveyance of such
   15  lands.  Construction,   acquisition,   reconstruction,   rehabilitation,
   16  improvement,  operation,  management, mortgaging with any private lender
   17  (including  other  security  or  financing  arrangements  incidental  or
   18  related thereto or customary in connection therewith, leasehold mortgag-
   19  ing or assignment of rents) leasing or subleasing of, providing services
   20  for  or otherwise assisting, or granting easements, or licenses or other
   21  arrangements in regard to, such facilities and underlying  land  may  be
   22  provided  for  from  time to time without public bidding or sale by such
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11227-01-5
       A. 7748                             2
    1  contract or lease (and  replacements,  modifications,  substitutions  or
    2  renewals  thereof),  upon such terms as the trustees may approve, not to
    3  exceed in the aggregate [sixty] EIGHTY-THREE years.   Any such  contract
    4  or  lease  shall  be  approved  by  the attorney general as to form, the
    5  director of the budget and the comptroller of the  state  of  New  York.
    6  Private  lender,  as  used  herein, shall mean any person other than the
    7  state government or any agency thereof or any public authority.
    8    S 2. This act shall take effect immediately.