Bill Text: NY A09857 | 2011-2012 | General Assembly | Amended

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Bill Title: Relates to disposal of real property to cure encroachments.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-07-18 - signed chap.156 [A09857 Detail]

Download: New_York-2011-A09857-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        9857--A
                                 I N  A S S E M B L Y
                                    April 18, 2012
                                      ___________
       Introduced  by M. of A. BRENNAN -- (at request of the Thruway Authority)
         -- read once and referred to the Committee on  Corporations,  Authori-
         ties  and  Commissions  -- committee discharged, bill amended, ordered
         reprinted as amended and recommitted to said committee
       AN ACT to amend the public authorities law, in relation to the  disposal
         of real property to cure encroachments
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 6 of section 2897 of the public authorities law
    2  is amended by adding a new paragraph e to read as follows:
    3    E. DISPOSALS AND CONTRACTS FOR DISPOSAL OF REAL PROPERTY BY THE  CANAL
    4  CORPORATION  MAY  BE  MADE BY NEGOTIATED SALE RATHER THAN PUBLIC AUCTION
    5  PROVIDED THAT ALL OF THE FOLLOWING CONDITIONS HAVE BEEN SATISFIED:
    6    (I) THE CANAL CORPORATION HAS DETERMINED THAT: SUCH REAL  PROPERTY  IS
    7  NO  LONGER NECESSARY OR USEFUL TO THE PURPOSES OF THE CANAL CORPORATION;
    8  DISPOSAL OF SUCH REAL PROPERTY COMPLIES WITH ALL  APPLICABLE  PROVISIONS
    9  OF  THE  CANAL  LAW;  AND  DISPOSAL OF SUCH REAL PROPERTY IS IN THE BEST
   10  INTEREST OF THE CANAL CORPORATION;
   11    (II) AN APPRAISAL OF THE FAIR MARKET VALUE OF SUCH PROPERTY  HAS  BEEN
   12  MADE BY AN INDEPENDENT APPRAISER AND INCLUDED IN THE RECORD OF THE TRAN-
   13  SACTION;
   14    (III)  THE  FAIR  MARKET  VALUE  OF SUCH REAL PROPERTY IS GREATER THAN
   15  FIFTEEN THOUSAND DOLLARS BUT  NOT  GREATER  THAN  SEVENTY-FIVE  THOUSAND
   16  DOLLARS;
   17    (IV)  SUCH  REAL  PROPERTY WAS IMPROVED PRIOR TO APRIL FIRST, NINETEEN
   18  HUNDRED NINETY-TWO UNDER A MUNICIPAL PERMIT OR A PERMIT ISSUED  PURSUANT
   19  TO  SECTION  ONE HUNDRED OF THE CANAL LAW, THEREBY CREATING AN ENCROACH-
   20  MENT ON CANAL CORPORATION REAL PROPERTY;
   21    (V) THE PURCHASER OF SUCH REAL PROPERTY IS, OR WILL BE, THE  OWNER  OF
   22  THE  IMPROVEMENT  THAT  EITHER  FULLY  OR  PARTIALLY ENCROACHES ON CANAL
   23  CORPORATION REAL PROPERTY; AND
   24    (VI) THE CONSIDERATION PAID FOR SUCH REAL PROPERTY WILL  BE  NOT  LESS
   25  THAN  THE FAIR MARKET VALUE OF THE REAL PROPERTY EXCLUSIVE OF THE VALUE,
   26  FAIR MARKET OR OTHERWISE, OF THE ENCROACHING IMPROVEMENTS.
   27    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14550-03-2