Bill Text: NY S01550 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to rezoning and municipal building impacts in New York City.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-03 - REFERRED TO CITIES [S01550 Detail]
Download: New_York-2017-S01550-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1550 2017-2018 Regular Sessions IN SENATE January 10, 2017 ___________ Introduced by Sen. AVELLA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the New York city charter, in relation to rezoning and municipal building impacts in cities of one million or more The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The New York city charter is amended by adding two new 2 sections 201-a and 201-b to read as follows: 3 § 201-a. Rezoning. In cities of a million or more, when a municipality 4 rezones or makes a zoning text change to an existing R1, R2, R3, R4 or 5 R5 zone that has been previously rezoned within the past fifteen years, 6 the municipality must pay a property owner three times the difference 7 between the price paid for the property for any sale made subsequent to 8 the effective date of the rezoning and the market value of the property 9 as reflected on the last property bill issued prior to the effective 10 date of a subsequent rezoning if the purchase price is less than the 11 market value of the property as reflected on the last property bill 12 issued prior to the effective date of the rezoning. This provision shall 13 not apply to properties in existing commercial overlays in R1, R2, R3, 14 R4, or R5 zones. 15 § 201-b. Municipal building impacts and residential neighborhoods. In 16 cities of a million or more, if a municipality constructs a municipal 17 building that abuts an R1, R2, R3 or R4 district, a municipality must 18 pay a property owner three times the difference between the price paid 19 for the property for any sale made subsequent to the construction of the 20 municipal building and the market value of the property as reflected on 21 the last property bill issued prior to the completion of the 22 construction if the purchase price is less than the market value of the 23 property as reflected on the last property bill issued prior to the 24 completion of the construction. 25 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01002-01-7
