Bill Text: NY S06690 | 2011-2012 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2012-06-19 - SUBSTITUTED BY A9857A [S06690 Detail]

Download: New_York-2011-S06690-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6690
                                   I N  S E N A T E
                                     March 9, 2012
                                      ___________
       Introduced  by Sen. RANZENHOFER -- (at request of the Thruway Authority)
         -- read twice and ordered printed, and when printed to be committed to
         the Committee on Corporations, Authorities and Commissions
       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) THE FAIR MARKET VALUE OF  SUCH  REAL  PROPERTY  IS  GREATER  THAN
   12  FIFTEEN  THOUSAND  DOLLARS  BUT  NOT  GREATER THAN SEVENTY-FIVE THOUSAND
   13  DOLLARS;
   14    (III) SUCH REAL PROPERTY WAS IMPROVED PRIOR TO APRIL  FIRST,  NINETEEN
   15  HUNDRED  NINETY-TWO, IN GOOD FAITH, OR UNDER A PERMIT ISSUED PURSUANT TO
   16  SECTION ONE HUNDRED OF THE CANAL LAW, THEREBY CREATING  AN  ENCROACHMENT
   17  ON CANAL CORPORATION REAL PROPERTY;
   18    (IV)  THE PURCHASER OF SUCH REAL PROPERTY IS, OR WILL BE, THE OWNER OF
   19  THE IMPROVEMENT THAT EITHER  FULLY  OR  PARTIALLY  ENCROACHES  ON  CANAL
   20  CORPORATION REAL PROPERTY; AND
   21    (V)  THE  CONSIDERATION  PAID  FOR SUCH REAL PROPERTY WILL BE NOT LESS
   22  THAN THE FAIR MARKET VALUE OF THE REAL PROPERTY EXCLUSIVE OF THE  VALUE,
   23  FAIR MARKET OR OTHERWISE, OF THE ENCROACHING IMPROVEMENTS.
   24    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14550-02-2