|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Jun 23, 2010 |
referred to ways and means |
| Jun 22, 2010 |
delivered to assembly passed senate ordered to third reading cal.1079 |
| Jun 15, 2010 |
reported and committed to rules |
| Jun 09, 2010 |
reported and committed to finance |
| May 26, 2010 |
print number 4281a |
| May 26, 2010 |
amend (t) and recommit to local government |
| Jan 06, 2010 |
referred to local government |
| Apr 21, 2009 |
referred to local government |
Senate Bill S4281
2009-2010 Legislative Session
Provides for the creation and administration of land banks, for the conversion of vacant, abandoned or tax-delinquent properties into productive use
download bill text pdfSponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
-
-
-
-
Floor Vote: Jun 22, 2010
aye (48)- Adams
- Addabbo Jr.
- Alesi
- Aubertine
- Bonacic
- Breslin
- DeFrancisco
- Diaz
- Dilan
- Duane
- Espada
- Flanagan
- Foley
- Fuschillo
- Griffo
- Hannon
- Hassell-Thompson
- Huntley
- Johnson
- Klein
- Krueger
- Kruger
- LaValle
- Lanza
- Leibell
- Little
- Maziarz
- McDonald
- Montgomery
- Onorato
- Oppenheimer
- Padavan
- Parker
- Peralta
- Perkins
- Robach
- Sampson
- Savino
- Schneiderman
- Serrano
- Smith
- Squadron
- Stachowski
- Stavisky
- Stewart-Cousins
- Thompson
- Valesky
- Winner
nay (13)excused (1)
-
Jun 22, 2010 - Rules Committee Vote
S428116Aye4Nay3Aye with Reservations0Absent0Excused0AbstainedJun 9, 2010 - Local Government Committee Vote
S42815Aye0Nay2Aye with Reservations0Absent1Excused0Abstained-
-
Local Government Committee Vote: Jun 9, 2010
aye (5)aye wr (2)excused (1)
-
Jun 15, 2010 - Finance Committee Vote
S428129Aye0Nay4Aye with Reservations0Absent0Excused0Abstained-
-
Finance Committee Vote: Jun 15, 2010
aye (29)aye wr (4)
-
-
-
Bill Amendments
2009-S4281 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- County Law
- Laws Affected:
- Add Art 5-C §285, County L; amd §§3 & 12, UDC Act
- Versions Introduced in 2011-2012 Legislative Session:
-
S663
2009-S4281 - Sponsor Memo
BILL NUMBER: S4281
TITLE OF BILL :
An act to amend the county law and the New York state urban
development corporation act, in relation to creating land banks for
the acquisition, management, planning and reuse of vacant and
abandoned property
PURPOSE :
To provide for the creation of land banks with the authority of the
Urban Development Corporation act.
SUMMARY OF PROVISIONS :
Section 1. Lists the legislative findings.
Section 2. Gives a list of definitions of land banks and authorizes
the county to petition the New York state urban development
corporation to establish a subsidiary corporation to perform the
functions of a land bank.
Section 3. Authorizes the New York state urban development corporation
to create land banks as a subsidiary.
Section 4. states the procedures for the creation of land banks.
Amends the general municipal law by adding article 121, which
authorizes the creation of a land bank. JUSTIFICATION : A crisis exists in many Upstate New York cities and their metro areas caused by disinvestment in real property and resulting in a significant amount of vacant and abandoned property. For example, Buffalo at its height had 580,000 residents, but now has a population of only 250,000. The city of Buffalo has an estimated 13,000 vacant parcels, 4,000 vacant structures and an estimated 22,290 vacant residential units. Problems associated with abandoned property include crime, fire, disease, and diminished value of surrounding properties. Abandoned property creates a haven for illicit and dangerous activity. Local governments lose revenue because of the costs of demolition, safety hazards, and spreading deterioration of neighborhoods including resulting mortgage foreclosures. This bill seeks to solve the problems of vacant and abandoned property in a coordinated manner and to foster the development of such property and promote economic growth, Land banks are public authorities that can efficiently acquire, hold, manage and develop tax-foreclosed properties with the long-term interest of the community in mind. The creation of land banks as subsidiary corporations by the state Urban Development Corporation at the request of municipalities can be an effective and cost efficient approach to managing and revitalizing vacant and abandoned properties. Land banks allow local governments to overcome legal restraints on the conversion of public land and public liens on private land into performing assets. Land banks can remove redevelopment barriers that hinder the creation of functioning private markets for conversion of abandoned land into better uses. PRIOR LEGISLATIVE HISTORY : 2008: Veto memo 145 FISCAL IMPLICATIONS : None. EFFECTIVE DATE : Immediately.
2009-S4281 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4281
2009-2010 Regular Sessions
I N S E N A T E
April 21, 2009
___________
Introduced by Sen. VALESKY -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the county law and the New York state urban development
corporation act, in relation to creating land banks for the acquisi-
tion, management, planning and reuse of vacant and abandoned property
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Legislative findings. The legislature finds that there
exists a crisis in many cities and their metro areas caused by disin-
vestment in real property and resulting in a significant amount of
vacant and abandoned property. For example, Cornell Cooperative Exten-
sion Association of Erie County estimates that the city of Buffalo has
13,000 vacant parcels, 4,000 vacant structures and an estimated 22,290
vacant residential units. This condition of vacant and abandoned proper-
ty represents lost revenue to local governments and large costs ranging
from demolition, effects of safety hazards and spreading deterioration
of neighborhoods including resulting mortgage foreclosures.
The legislature further finds that the need exists to strengthen and
revitalize the economy of the state and its local units of government by
solving the problems of vacant and abandoned property in a coordinated
manner and to foster the development of such property and promote
economic growth. Such problems may include multiple taxing jurisdictions
lacking common policies, ineffective property inspection, code enforce-
ment and property rehabilitation support, lengthy and/or inadequate
foreclosure proceedings and lack of coordination and resources to
support economic revitalization.
The legislature further finds that these challenges are often beyond
the capacity of cities and metro areas in the state and that a means of
state and local partnership is required to regenerate economies with
significant vacant and abandoned property. Partnership between state and
local government is necessary for a vacant property initiative.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02861-01-9
S. 4281 2
The legislature further finds that creation of land banks as subsid-
iary corporations by the state urban development corporation at the
request of counties can be an effective and cost efficient approach to
managing and revitalizing vacant and abandoned properties.
Therefore, the legislature declares that it is in public interest to
provide for the creation of land banks with the authority of the urban
development corporation.
S 2. The county law is amended by adding a new article 5-C to read as
follows:
ARTICLE 5-C
LAND BANK
SECTION 285. AUTHORIZATION TO PETITION FOR CREATION OF A LAND BANK.
S 285. AUTHORIZATION TO PETITION FOR CREATION OF A LAND BANK. 1.
DEFINITIONS. AS USED IN THIS SECTION, A "LAND BANK" IS A PUBLIC CORPO-
RATION ESTABLISHED TO ENGAGE IN THE PROCESS OF THE EFFECTIVE CONVERSION
OF REUSABLE PROPERTIES TO PRODUCTIVE USE. REUSABLE PROPERTY SHALL BE
VACANT AND/OR ABANDONED DWELLINGS AS DETERMINED PURSUANT TO SECTION
NINETEEN HUNDRED SEVENTY-ONE OF THE REAL PROPERTY ACTIONS AND
PROCEEDINGS LAW. SUCH PROCESS FOR EFFECTIVE CONVERSION OF REUSABLE PROP-
ERTIES SHALL INCLUDE THE FOLLOWING POWERS AND DUTIES:
(A) CREATING, MANAGING AND MAINTAINING A WRITTEN INVENTORY OF ALL
REUSABLE PROPERTY, OR SUCH PORTIONS OF ALL REUSABLE PROPERTY AS LONG AS
A COUNTYWIDE STRATEGY FOR REUSE IS ALSO ADVANCED;
(B) CREATING A COUNTYWIDE STRATEGY FOR REUSE WHICH SHALL CONSIDER
ACTIONS TO COORDINATE COUNTYWIDE ACTIVITIES TO WAREHOUSE AND REDEVELOP
REUSABLE PROPERTIES. SUCH STRATEGY SHALL BE DEVELOPED WITH THE GOAL OF
CREATING CONTIGUOUS TRACTS OF LAND FOR REDEVELOPMENT PURPOSES AND SHALL
EVALUATE PRESENT AND FUTURE USES FOR REUSABLE PROPERTIES. SUCH PLAN
SHALL BE UPDATED NO LESS OFTEN THAN EVERY FIVE YEARS.
(C) AFTER THE CREATION OF A WRITTEN INVENTORY AND COUNTYWIDE STRATEGY
FOR REUSE, THE LAND BANK MAY, CONSISTENT WITH MUNICIPAL LAND USE AND
STRATEGIC PLANS AND WITH THE APPROVAL OF THE GOVERNING BOARD OF THE
MUNICIPAL CORPORATION, AS DEFINED IN SECTION TWO OF THE GENERAL MUNICI-
PAL LAW, IN WHICH THE REUSABLE PROPERTY IS LOCATED, TAKE ACTIONS INCLUD-
ING:
(I) ACQUISITION OF LAND;
(II) LEASING AND SALES OF LAND AND STRUCTURES;
(III) ADMINISTRATION, INVENTORY AND ASSESSMENT OF EXISTING PARCELS AND
STRUCTURES;
(IV) PLANNING FOR REUSE CONSISTENT WITH LOCAL PLAN AND REINVESTMENT
STRATEGIES; AND
(V) FOR PROPERTIES UNDER THE LAND BANK'S CONTROL: PROPERTY MAINTE-
NANCE, REHABILITATION AND MANAGEMENT, DISASSEMBLY AND SALVAGE AND AS A
LAST RESORT DEMOLITION.
2. AUTHORIZATION. THE LEGISLATIVE BODY OF ANY COUNTY MAY ADOPT A
RESOLUTION CALLING UPON THE STATE URBAN DEVELOPMENT CORPORATION TO
ESTABLISH A SUBSIDIARY CORPORATION TO PERFORM THE FUNCTIONS OF A LAND
BANK PURSUANT TO SECTION TWELVE OF THE NEW YORK STATE URBAN DEVELOPMENT
CORPORATION ACT. WHEN AUTHORIZED BY THE GOVERNING BOARD OF A MUNICIPAL
CORPORATION, AS DEFINED IN SECTION TWO OF THE GENERAL MUNICIPAL LAW,
SUCH MUNICIPAL CORPORATION MAY TRANSFER REUSABLE PROPERTY TO SUCH A LAND
BANK CORPORATION OPERATING WITHIN ITS JURISDICTION.
S 3. Section 3 of section 1 of chapter 174 of the laws of 1968,
constituting the New York state urban development corporation act, is
amended by adding a new subdivision 30 to read as follows:
S. 4281 3
(30) "LAND BANK" IS A PUBLIC CORPORATION ESTABLISHED TO ENGAGE IN THE
PROCESS OF THE EFFECTIVE CONVERSION OF REUSABLE PROPERTIES TO PRODUCTIVE
USE. REUSABLE PROPERTY SHALL BE VACANT AND/OR ABANDONED DWELLINGS AS
DETERMINED PURSUANT TO SECTION 1971 OF THE REAL PROPERTY ACTIONS AND
PROCEEDINGS LAW. SUCH PROCESS FOR EFFECTIVE CONVERSION OF REUSABLE PROP-
ERTIES SHALL INCLUDE THE FOLLOWING POWERS AND DUTIES:
(A) CREATING, MANAGING AND MAINTAINING A WRITTEN INVENTORY OF ALL
REUSABLE PROPERTY, OR SUCH PORTIONS OF ALL REUSABLE PROPERTY AS LONG AS
A COUNTYWIDE STRATEGY FOR REUSE IS ALSO ADVANCED;
(B) CREATING A COUNTYWIDE STRATEGY FOR REUSE WHICH SHALL CONSIDER
ACTIONS TO COORDINATE COUNTYWIDE ACTIVITIES TO WAREHOUSE AND REDEVELOP
REUSABLE PROPERTIES. SUCH STRATEGY SHALL BE DEVELOPED WITH THE GOAL OF
CREATING CONTIGUOUS TRACTS OF LAND FOR REDEVELOPMENT PURPOSES AND SHALL
EVALUATE PRESENT AND FUTURE USES FOR REUSABLE PROPERTIES. SUCH PLAN
SHALL BE UPDATED NO LESS OFTEN THAN EVERY FIVE YEARS.
(C) AFTER THE CREATION OF A WRITTEN INVENTORY AND COUNTYWIDE STRATEGY
FOR REUSE, THE LAND BANK MAY, CONSISTENT WITH MUNICIPAL LAND USE AND
STRATEGIC PLANS AND WITH THE APPROVAL OF THE GOVERNING BOARD OF THE
MUNICIPAL CORPORATION, AS DEFINED IN SECTION 2 OF THE GENERAL MUNICIPAL
LAW, IN WHICH THE REUSABLE PROPERTY IS LOCATED TAKE ACTIONS INCLUDING:
(I) ACQUISITION OF LAND;
(II) LEASING AND SALES OF LAND AND STRUCTURES;
(III) ADMINISTRATION, INVENTORY AND ASSESSMENT OF EXISTING PARCELS AND
STRUCTURES;
(IV) PLANNING FOR REUSE CONSISTENT WITH LOCAL PLANS AND REINVESTMENT
STRATEGIES; AND
(V) FOR PROPERTIES UNDER THE LAND BANK'S CONTROL: PROPERTY MAINTE-
NANCE; REHABILITATION AND MANAGEMENT; DISASSEMBLY AND SALVAGE AND AS A
LAST RESORT DEMOLITION.
S 4. Section 12 of section 1 of chapter 174 of the laws of 1968,
constituting the New York state urban development corporation act, is
amended by adding a new subdivision 1-a to read as follows:
(1-A)(A) UPON RECEIPT OF A RESOLUTION APPROVED BY A MAJORITY OF THE
LEGISLATIVE BODY OF ANY COUNTY, THE CORPORATION MAY AT ITS DISCRETION
ESTABLISH A SUBSIDIARY CORPORATION TO PERFORM THE FUNCTIONS OF A LAND
BANK PURSUANT TO SUBDIVISION THIRTY OF SECTION THREE OF THIS ACT. THE
CORPORATION SHALL ESTABLISH NO MORE THAN THREE LAND BANKS STATEWIDE,
PROVIDED THAT NO TWO LAND BANKS BE ESTABLISHED WITHIN A SINGLE STATE
REGION AS DEFINED BY THE DEPARTMENT OF ECONOMIC DEVELOPMENT. THE DIREC-
TORS OF SUCH SUBSIDIARY SHALL INCLUDE FIVE APPOINTEES FROM THE STATE
URBAN DEVELOPMENT CORPORATION, AND TWO APPOINTEES EACH BY BOTH THE CHIEF
ELECTED OFFICER AND LEGISLATIVE BODY OF THE COUNTY PETITIONING FOR THE
CREATION OF THE SUBSIDIARY CORPORATION. MEMBERS OF THE SUBSIDIARY SHALL
BE PERSONS WHO HAVE DEMONSTRATED SPECIAL INTEREST, EXPERIENCE, OR EDUCA-
TION IN URBAN AND/OR REGIONAL PLANNING, REAL ESTATE, COMMUNITY DEVELOP-
MENT, NEIGHBORHOOD PRESERVATION, HISTORIC PRESERVATION, FINANCE OR
RELATED AREAS.
(B) THE CORPORATION SHALL, FROM FUNDS APPROPRIATED FOR THE PURPOSES
DESCRIBED IN PARAGRAPH (A) OF THIS SUBDIVISION, PROVIDE A GRANT TO AID
IN THE OPERATION OF THE LAND BANK. THE LAND BANK SHALL ALSO BE ALLOWED
TO ACCEPT AND DISTRIBUTE FUNDS FOR THE PURPOSES IN THIS SECTION CONSIST-
ENT WITH PURPOSES DEFINED IN THIS SUBDIVISION.
S 5. This act shall take effect immediately.
2009-S4281A (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- County Law
- Laws Affected:
- Add Art 5-C §285, County L; amd §§3 & 12, UDC Act
- Versions Introduced in 2011-2012 Legislative Session:
-
S663
2009-S4281A (ACTIVE) - Sponsor Memo
BILL NUMBER:S4281A
TITLE OF BILL:
An act
to amend the not-for-profit corporation law, in relation to
providing for the creation
and administration of land banks, for the conversion of vacant,
abandoned or tax-delinquent
properties into productive use
PURPOSE OR GENERAL IDEA OF BILL:
To provide for the creation of land banks by municipalities in New York
State.
SUMMARY OF SPECIFIC PROVISIONS:
* The creation of a land bank is entirely optional, never obligatory.
* A land bank may be created by any "foreclosing governmental unit"
which is defined as "tax districts" as defined by New York Real
Property Tax Law. An FGU will include the following:
o A county, other than a county for which the cities and towns enforce
delinquent taxes pursuant to the county administrative code or a
county wholly contained within a city.
o A city, other than a city for which the county enforces delinquent
taxes pursuant to the city charter.
o A village, other than a village for which the county enforces
delinquent taxes.
o A town in a county in which towns enforce delinquent taxes pursuant to the county administrative code. * Land banks are structured as Type C not-for-profit corporations because of the inability for local governments to create municipal authorities without state legislative action. * To create a land bank a FGU simply needs to pass an appropriate ordinance or resolution. * Two or more FGUs may jointly agree to create a land bank. * The size of the Board of Directors has minimum (5) and maximum (11) members. * The method of selecting Board members is left entirely to the FGU, or to the agreement between the FGUs when a land bank is jointly created. * A land bank can enter into contracts with municipalities for the full range of services, including staffing. * A land bank has broad operational powers, but not the power of eminent domain. * A land bank can acquire any form of real property in any manner, from any source. * A land bank must maintain its real property in accordance with municipal laws. * A land bank is limited to ownership of real property within the jurisdictional boundaries of the FGU that created it. * This draft does not specify particular end users, or end uses, of property conveyed by a land bank, but it does recognize that the FGUs creating land banks may specify priority uses for property disposition. * Upon creation of land banks, FGUs may create special voting or approval rights with respect to particular uses or property, or particular kinds of property. JUSTIFICATION: A crisis exists in many Upstate New York cities and their metro areas caused by disinvestment in real property and resulting in a significant amount of vacant and abandoned property. For example, Buffalo at its height had 580,000 residents, but now has a population of only 250,000. The city of Buffalo has an estimated 20,000 vacant parcels, 5,000 vacant structures and an estimated 22,290 vacant residential units. Problems associated with abandoned property include crime, fire, disease, and diminished value of surrounding properties. Abandoned property creates a haven for illicit and dangerous activity. Local governments lose revenue because of the costs of demolition, safety hazards, and spreading deterioration of neighborhoods including resulting mortgage foreclosures. This bill seeks to solve the problems of vacant and abandoned property in a coordinated manner and to foster the development of such property and promote economic growth. Land banks with this legislation would be type-C not for profit corporations under this chapter and in accordance with the provisions of this article and pursuant to this article that may be created by any "foreclosing governmental unit" that would be authorized by a municipality through appropriate local approval to efficiently acquire, hold, manage and develop tax-foreclosed properties with the long-term interest of the community in mind. The creation of land banks as Type C not for profit corporations at the request of municipalities can be an effective and cost efficient approach to managing and revitalizing vacant and abandoned properties. Land banks allow local governments to overcome legal restraints on the conversion of public land and public liens on private land into performing assets. Land banks can remove redevelopment barriers that hinder the creation of functioning private markets for conversion of abandoned land into better uses. PRIOR LEGISLATIVE HISTORY: 06/17/08 A.8059C Passed Assembly 06/18/08 Passed Senate 09/25/08 Vetoed memo 145 09/26/08 Tabled FISCAL IMPLICATIONS: None. EFFECTIVE DATE: This act shall take effect immediately.
2009-S4281A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4281--A
2009-2010 Regular Sessions
I N S E N A T E
April 21, 2009
___________
Introduced by Sen. VALESKY -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government -- recom-
mitted to the Committee on Local Government in accordance with Senate
Rule 6, sec. 8 -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the not-for-profit corporation law, in relation to
providing for the creation and administration of land banks, for the
conversion of vacant, abandoned or tax-delinquent properties into
productive use
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The not-for-profit corporation law is amended by adding a
new article 16 to read as follows:
ARTICLE 16
LAND BANKS
SECTION 1600. SHORT TITLE.
1601. LEGISLATIVE INTENT.
1602. DEFINITIONS.
1603. CREATION AND EXISTENCE.
1604. APPLICABILITY OF NEW YORK LAW.
1605. BOARD OF DIRECTORS.
1606. STAFF.
1607. POWERS.
1608. ACQUISITION OF PROPERTY.
1609. DISPOSITION OF PROPERTY.
1610. FINANCING OF LAND BANK OPERATIONS.
1611. BORROWING AND ISSUANCE OF BONDS.
1612. PUBLIC RECORDS AND PUBLIC MEETINGS.
1613. DISSOLUTION OF LAND BANK.
1614. CONFLICTS OF INTEREST.
1615. CONSTRUCTION, INTENT AND SCOPE.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02861-04-0
S. 4281--A 2
1616. DELINQUENT PROPERTY TAX ENFORCEMENT.
1617. EXPEDITED QUIET TITLE PROCEEDINGS.
S 1600. SHORT TITLE.
THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS THE "LAND BANK ACT".
S 1601. LEGISLATIVE INTENT.
THE LEGISLATURE FINDS AND DECLARES THAT NEW YORK'S COMMUNITIES ARE
IMPORTANT TO THE SOCIAL AND ECONOMIC VITALITY OF THE STATE. WHETHER
URBAN, SUBURBAN, OR RURAL, MANY COMMUNITIES ARE STRUGGLING TO COPE WITH
VACANT, ABANDONED, AND TAX-DELINQUENT PROPERTIES.
THERE EXISTS A CRISIS IN MANY CITIES AND THEIR METRO AREAS CAUSED BY
DISINVESTMENT IN REAL PROPERTY AND RESULTING IN A SIGNIFICANT AMOUNT OF
VACANT AND ABANDONED PROPERTY. FOR EXAMPLE, CORNELL COOPERATIVE EXTEN-
SION ASSOCIATION OF ERIE COUNTY ESTIMATES THAT THE CITY OF BUFFALO HAS
THIRTEEN THOUSAND VACANT PARCELS, FOUR THOUSAND VACANT STRUCTURES AND AN
ESTIMATED TWENTY-TWO THOUSAND TWO HUNDRED NINETY VACANT RESIDENTIAL
UNITS. THIS CONDITION OF VACANT AND ABANDONED PROPERTY REPRESENTS LOST
REVENUE TO LOCAL GOVERNMENTS AND LARGE COSTS RANGING FROM DEMOLITION,
EFFECTS OF SAFETY HAZARDS AND SPREADING DETERIORATION OF NEIGHBORHOODS
INCLUDING RESULTING MORTGAGE FORECLOSURES.
THE NEED EXISTS TO STRENGTHEN AND REVITALIZE THE ECONOMY OF THE STATE
AND ITS LOCAL UNITS OF GOVERNMENT BY SOLVING THE PROBLEMS OF VACANT AND
ABANDONED PROPERTY IN A COORDINATED MANNER AND TO FOSTER THE DEVELOPMENT
OF SUCH PROPERTY AND PROMOTE ECONOMIC GROWTH. SUCH PROBLEMS MAY INCLUDE
MULTIPLE TAXING JURISDICTIONS LACKING COMMON POLICIES, INEFFECTIVE PROP-
ERTY INSPECTION, CODE ENFORCEMENT AND PROPERTY REHABILITATION SUPPORT,
LENGTHY AND/OR INADEQUATE FORECLOSURE PROCEEDINGS AND LACK OF COORDI-
NATION AND RESOURCES TO SUPPORT ECONOMIC REVITALIZATION.
THERE IS AN OVERRIDING PUBLIC NEED TO CONFRONT THE PROBLEMS CAUSED BY
VACANT, ABANDONED AND TAX-DELINQUENT PROPERTIES THROUGH THE CREATION OF
NEW TOOLS TO BE AVAILABLE TO COMMUNITIES THROUGHOUT NEW YORK ENABLING
THEM TO TURN VACANT SPACES INTO VIBRANT PLACES.
LAND BANKS ARE ONE OF THE TOOLS THAT CAN BE UTILIZED BY COMMUNITIES TO
FACILITATE THE RETURN OF VACANT, ABANDONED, AND TAX-DELINQUENT PROPER-
TIES TO PRODUCTIVE USE.
S 1602. DEFINITIONS.
THE FOLLOWING WORDS AND PHRASES WHEN USED IN THIS ARTICLE SHALL HAVE
THE MEANINGS GIVEN TO THEM IN THIS SECTION UNLESS THE CONTEXT CLEARLY
INDICATES OTHERWISE:
(A) "BOARD OF DIRECTORS" OR "BOARD" SHALL MEAN THE BOARD OF DIRECTORS
OF A LAND BANK;
(B) "LAND BANK" SHALL MEAN A LAND BANK ESTABLISHED AS A TYPE C
NOT-FOR-PROFIT CORPORATION UNDER THIS CHAPTER AND IN ACCORDANCE WITH THE
PROVISIONS OF THIS ARTICLE AND PURSUANT TO THIS ARTICLE;
(C) "FORECLOSING GOVERNMENTAL UNIT" SHALL MEAN "TAX DISTRICT" AS
DEFINED IN SUBDIVISION SIX OF SECTION ELEVEN HUNDRED TWO OF THE REAL
PROPERTY TAX LAW;
(D) "MUNICIPALITY" SHALL MEAN A CITY, VILLAGE, TOWN OR COUNTY OTHER
THAN A COUNTY LOCATED WHOLLY WITHIN A CITY;
(E) "SCHOOL DISTRICT" SHALL MEAN A SCHOOL DISTRICT AS DEFINED UNDER
THE EDUCATION LAW; AND
(F) "REAL PROPERTY" SHALL MEAN LANDS, LANDS UNDER WATER, STRUCTURES
AND ANY AND ALL EASEMENTS, AIR RIGHTS, FRANCHISES AND INCORPOREAL HERED-
ITAMENTS AND EVERY ESTATE AND RIGHT THEREIN, LEGAL AND EQUITABLE,
INCLUDING TERMS FOR YEARS AND LIENS BY WAY OF JUDGMENT, MORTGAGE OR
OTHERWISE, AND ANY AND ALL FIXTURES AND IMPROVEMENTS LOCATED THEREON.
S 1603. CREATION AND EXISTENCE.
S. 4281--A 3
(A) ANY FORECLOSING GOVERNMENTAL UNIT MAY ELECT TO CREATE A LAND BANK
BY THE ADOPTION OF A LOCAL LAW, ORDINANCE, RULE, OR RESOLUTION AS APPRO-
PRIATE TO SUCH FORECLOSING GOVERNMENTAL UNIT WHICH ACTION SPECIFIES THE
FOLLOWING:
(1) THE NAME OF THE LAND BANK;
(2) THE NUMBER OF MEMBERS OF THE BOARD OF DIRECTORS, WHICH SHALL
CONSIST OF AN ODD NUMBER OF MEMBERS, AND SHALL BE NOT LESS THAN FIVE
MEMBERS NOR MORE THAN ELEVEN MEMBERS;
(3) THE INITIAL INDIVIDUALS TO SERVE AS MEMBERS OF THE BOARD OF DIREC-
TORS, AND THE LENGTH OF TERMS FOR WHICH THEY ARE TO SERVE;
(4) THE QUALIFICATIONS, MANNER OF SELECTION OR APPOINTMENT, AND TERMS
OF OFFICE OF MEMBERS OF THE BOARD; AND
(5) THE ARTICLES OF INCORPORATION FOR THE LAND BANK, WHICH SHALL BE
FILED WITH THE SECRETARY OF STATE IN ACCORDANCE WITH THE PROCEDURES SET
FORTH IN THIS CHAPTER.
(B) TWO OR MORE FORECLOSING GOVERNMENTAL UNITS MAY ELECT TO ENTER INTO
AN INTERGOVERNMENTAL COOPERATION AGREEMENT WHICH CREATES A SINGLE LAND
BANK TO ACT ON BEHALF OF SUCH FORECLOSING GOVERNMENTAL UNITS, WHICH
AGREEMENT SHALL BE AUTHORIZED BY AND BE IN ACCORDANCE WITH THE
PROVISIONS OF PARAGRAPH (A) OF THIS SECTION.
(C) ANY FORECLOSING GOVERNMENTAL UNITS AND ANY MUNICIPALITY MAY ELECT
TO ENTER INTO AN INTERGOVERNMENTAL COOPERATION AGREEMENT WHICH CREATES A
SINGLE LAND BANK TO ACT ON BEHALF OF SUCH FORECLOSING GOVERNMENTAL UNIT
OR UNITS AND MUNICIPALITY, WHICH AGREEMENT SHALL BE AUTHORIZED BY AND BE
IN ACCORDANCE WITH THE PROVISIONS OF PARAGRAPH (A) OF THIS SECTION.
(D) EXCEPT WHEN A LAND BANK IS CREATED PURSUANT TO PARAGRAPH (B) OR
(C) OF THIS SECTION, IN THE EVENT A COUNTY CREATES A LAND BANK, SUCH
LAND BANK SHALL HAVE THE POWER TO ACQUIRE REAL PROPERTY ONLY IN THOSE
PORTIONS OF SUCH COUNTY LOCATED OUTSIDE OF THE GEOGRAPHICAL BOUNDARIES
OF ANY OTHER LAND BANK CREATED BY ANY OTHER FORECLOSING GOVERNMENTAL
UNIT LOCATED PARTIALLY OR ENTIRELY WITHIN SUCH COUNTY.
(E) A SCHOOL DISTRICT MAY PARTICIPATE IN A LAND BANK PURSUANT TO AN
INTERGOVERNMENTAL COOPERATION AGREEMENT WITH THE FORECLOSING GOVERN-
MENTAL UNIT OR UNITS THAT CREATE THE LAND BANK, WHICH AGREEMENT SHALL
SPECIFY THE MEMBERSHIP, IF ANY, OF SUCH SCHOOL DISTRICT ON THE BOARD OF
DIRECTORS OF THE LAND BANK, OR THE ACTIONS OF THE LAND BANK WHICH ARE
SUBJECT TO APPROVAL BY THE SCHOOL DISTRICT.
(F) EACH LAND BANK CREATED PURSUANT TO THIS ACT SHALL BE A TYPE C
NOT-FOR-PROFIT CORPORATION, AND SHALL HAVE PERMANENT AND PERPETUAL DURA-
TION UNTIL TERMINATED AND DISSOLVED IN ACCORDANCE WITH THE PROVISIONS OF
SECTION SIXTEEN HUNDRED THIRTEEN OF THIS ARTICLE.
S 1604. APPLICABILITY OF NEW YORK LAW.
THIS ARTICLE SHALL APPLY ONLY TO LAND BANKS CREATED PURSUANT TO THIS
ARTICLE. IF ANY PROVISIONS OF THIS ARTICLE CONFLICT WITH ANY OTHER
PROVISION OF THIS CHAPTER, THE PROVISIONS OF THIS ARTICLE SHALL PREVAIL.
S 1605. BOARD OF DIRECTORS.
(A) (1) THE INITIAL SIZE OF THE BOARD SHALL BE DETERMINED IN ACCORD-
ANCE WITH SECTION SIXTEEN HUNDRED THREE OF THIS ARTICLE. UNLESS
RESTRICTED BY THE ACTIONS OR AGREEMENTS SPECIFIED IN SECTION SIXTEEN
HUNDRED THREE OF THIS ARTICLE, THE PROVISIONS OF THIS SECTION SHALL
APPLY.
(2) THE SIZE OF THE BOARD MAY BE ADJUSTED IN ACCORDANCE WITH BY-LAWS
OF THE LAND BANK.
(B) IN THE EVENT THAT A LAND BANK IS CREATED PURSUANT TO AN INTERGOV-
ERNMENTAL AGREEMENT IN ACCORDANCE WITH SECTION SIXTEEN HUNDRED THREE OF
THIS ARTICLE, SUCH INTERGOVERNMENTAL COOPERATION AGREEMENT SHALL SPECIFY
S. 4281--A 4
MATTERS IDENTIFIED IN PARAGRAPH (A) OF SECTION SIXTEEN HUNDRED THREE OF
THIS ARTICLE.
(C) NOTWITHSTANDING ANY LAW TO THE CONTRARY, ANY PUBLIC OFFICER SHALL
BE ELIGIBLE TO SERVE AS A BOARD MEMBER AND THE ACCEPTANCE OF THE
APPOINTMENT SHALL NEITHER TERMINATE NOR IMPAIR SUCH PUBLIC OFFICE. FOR
PURPOSES OF THIS SECTION, "PUBLIC OFFICER" SHALL MEAN A PERSON WHO IS
ELECTED TO A MUNICIPAL OFFICE. ANY MUNICIPAL EMPLOYEE OR APPOINTED OFFI-
CER SHALL BE ELIGIBLE TO SERVE AS A BOARD MEMBER.
(D) THE MEMBERS OF THE BOARD OF DIRECTORS SHALL SELECT ANNUALLY FROM
AMONG THEMSELVES A CHAIRMAN, A VICE-CHAIRMAN, A TREASURER, AND SUCH
OTHER OFFICERS AS THE BOARD MAY DETERMINE, AND SHALL ESTABLISH THEIR
DUTIES AS MAY BE REGULATED BY RULES ADOPTED BY THE BOARD.
(E) THE BOARD SHALL ESTABLISH RULES AND REQUIREMENTS RELATIVE TO THE
ATTENDANCE AND PARTICIPATION OF MEMBERS IN ITS MEETINGS, REGULAR OR
SPECIAL. SUCH RULES AND REGULATIONS MAY PRESCRIBE A PROCEDURE WHEREBY,
SHOULD ANY MEMBER FAIL TO COMPLY WITH SUCH RULES AND REGULATIONS, SUCH
MEMBER MAY BE DISQUALIFIED AND REMOVED AUTOMATICALLY FROM OFFICE BY NO
LESS THAN A MAJORITY VOTE OF THE REMAINING MEMBERS OF THE BOARD, AND
THAT MEMBER'S POSITION SHALL BE VACANT AS OF THE FIRST DAY OF THE NEXT
CALENDAR MONTH. ANY PERSON REMOVED UNDER THE PROVISIONS OF THIS PARA-
GRAPH SHALL BE INELIGIBLE FOR REAPPOINTMENT TO THE BOARD, UNLESS SUCH
REAPPOINTMENT IS CONFIRMED UNANIMOUSLY BY THE BOARD.
(F) A VACANCY ON THE BOARD SHALL BE FILLED IN THE SAME MANNER AS THE
ORIGINAL APPOINTMENT.
(G) BOARD MEMBERS SHALL SERVE WITHOUT COMPENSATION, SHALL HAVE THE
POWER TO ORGANIZE AND REORGANIZE THE EXECUTIVE, ADMINISTRATIVE, CLER-
ICAL, AND OTHER DEPARTMENTS OF THE LAND BANK AND TO FIX THE DUTIES,
POWERS, AND COMPENSATION OF ALL EMPLOYEES, AGENTS, AND CONSULTANTS OF
THE LAND BANK. THE BOARD MAY REIMBURSE ANY MEMBER FOR EXPENSES ACTUALLY
INCURRED IN THE PERFORMANCE OF DUTIES ON BEHALF OF THE LAND BANK.
(H) THE BOARD SHALL MEET IN REGULAR SESSION ACCORDING TO A SCHEDULE
ADOPTED BY THE BOARD, AND ALSO SHALL MEET IN SPECIAL SESSION AS CONVENED
BY THE CHAIRMAN OR UPON WRITTEN NOTICE SIGNED BY A MAJORITY OF THE
MEMBERS.
(I) A MAJORITY OF THE MEMBERS OF THE BOARD, NOT INCLUDING VACANCIES,
SHALL CONSTITUTE A QUORUM FOR THE CONDUCT OF BUSINESS. ALL ACTIONS OF
THE BOARD SHALL BE APPROVED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE
MEMBERS OF THAT BOARD PRESENT AND VOTING; PROVIDED, HOWEVER, NO ACTION
OF THE BOARD SHALL BE AUTHORIZED ON THE FOLLOWING MATTERS UNLESS
APPROVED BY A MAJORITY OF THE TOTAL BOARD MEMBERSHIP:
(1) ADOPTION OF BY-LAWS AND OTHER RULES AND REGULATIONS FOR CONDUCT OF
THE LAND BANK'S BUSINESS;
(2) HIRING OR FIRING OF ANY EMPLOYEE OR CONTRACTOR OF THE LAND BANK.
THIS FUNCTION MAY, BY MAJORITY VOTE OF THE TOTAL BOARD MEMBERSHIP, BE
DELEGATED TO A SPECIFIED OFFICER OR COMMITTEE OF THE LAND BANK, UNDER
SUCH TERMS AND CONDITIONS, AND TO THE EXTENT, THAT THE BOARD MAY SPECI-
FY;
(3) THE INCURRING OF DEBT;
(4) ADOPTION OR AMENDMENT OF THE ANNUAL BUDGET; AND
(5) SALE, LEASE, ENCUMBRANCE, OR ALIENATION OF REAL PROPERTY, IMPROVE-
MENTS, OR PERSONAL PROPERTY, WITH A VALUE OF MORE THAN FIFTY THOUSAND
DOLLARS.
(J) MEMBERS OF A BOARD SHALL NOT BE LIABLE PERSONALLY ON THE BONDS OR
OTHER OBLIGATIONS OF THE LAND BANK, AND THE RIGHTS OF CREDITORS SHALL BE
SOLELY AGAINST SUCH LAND BANK.
S. 4281--A 5
(K) VOTE BY PROXY SHALL NOT BE PERMITTED. ANY MEMBER MAY REQUEST A
RECORDED VOTE ON ANY RESOLUTION OR ACTION OF THE LAND BANK.
S 1606. STAFF.
A LAND BANK MAY EMPLOY A SECRETARY, AN EXECUTIVE DIRECTOR, ITS OWN
COUNSEL AND LEGAL STAFF, AND SUCH TECHNICAL EXPERTS, AND SUCH OTHER
AGENTS AND EMPLOYEES, PERMANENT OR TEMPORARY, AS IT MAY REQUIRE, AND MAY
DETERMINE THE QUALIFICATIONS AND FIX THE COMPENSATION AND BENEFITS OF
SUCH PERSONS. A LAND BANK MAY ALSO ENTER INTO CONTRACTS AND AGREEMENTS
WITH MUNICIPALITIES FOR STAFFING SERVICES TO BE PROVIDED TO THE LAND
BANK BY MUNICIPALITIES OR AGENCIES OR DEPARTMENTS THEREOF, OR FOR A LAND
BANK TO PROVIDE SUCH STAFFING SERVICES TO MUNICIPALITIES OR AGENCIES OR
DEPARTMENTS THEREOF.
S 1607. POWERS.
(A) A LAND BANK SHALL CONSTITUTE A TYPE C NOT-FOR-PROFIT CORPORATION
UNDER NEW YORK LAW, WHICH POWERS SHALL INCLUDE ALL POWERS NECESSARY OR
APPROPRIATE TO CARRY OUT AND EFFECTUATE THE PURPOSES AND PROVISIONS OF
THIS ARTICLE, INCLUDING THE FOLLOWING POWERS IN ADDITION TO THOSE HEREIN
OTHERWISE GRANTED:
(1) ADOPT, AMEND, AND REPEAL BYLAWS FOR THE REGULATION OF ITS AFFAIRS
AND THE CONDUCT OF ITS BUSINESS;
(2) SUE AND BE SUED IN ITS OWN NAME AND PLEAD AND BE IMPLEADED IN ALL
CIVIL ACTIONS, INCLUDING, BUT NOT LIMITED TO, ACTIONS TO CLEAR TITLE TO
PROPERTY OF THE LAND BANK;
(3) TO ADOPT A SEAL AND TO ALTER THE SAME AT PLEASURE;
(4) TO MAKE CONTRACTS, GIVE GUARANTEES AND INCUR LIABILITIES, BORROW
MONEY AT SUCH RATES OF INTEREST AS THE LAND BANK MAY DETERMINE;
(5) TO ISSUE NEGOTIABLE REVENUE BONDS AND NOTES ACCORDING TO THE
PROVISIONS OF THIS ARTICLE;
(6) TO PROCURE INSURANCE OR GUARANTEES FROM THE STATE OF NEW YORK OR
FEDERAL GOVERNMENT OF THE PAYMENTS OF ANY DEBTS OR PARTS THEREOF
INCURRED BY THE LAND BANK, AND TO PAY PREMIUMS IN CONNECTION THEREWITH;
(7) TO ENTER INTO CONTRACTS AND OTHER INSTRUMENTS NECESSARY, INCI-
DENTAL, OR CONVENIENT TO THE PERFORMANCE OF ITS DUTIES AND THE EXERCISE
OF ITS POWERS, INCLUDING, BUT NOT LIMITED TO, INTERGOVERNMENTAL AGREE-
MENTS UNDER SECTION ONE HUNDRED NINETEEN-O OF THE GENERAL MUNICIPAL LAW
FOR THE JOINT EXERCISE OF POWERS UNDER THIS ARTICLE;
(8) TO ENTER INTO CONTRACTS AND OTHER INSTRUMENTS NECESSARY, INCI-
DENTAL, OR CONVENIENT TO THE PERFORMANCE OF FUNCTIONS BY THE LAND BANK
ON BEHALF OF MUNICIPALITIES OR AGENCIES OR DEPARTMENTS OF MUNICI-
PALITIES, OR THE PERFORMANCE BY MUNICIPALITIES OR AGENCIES OR DEPART-
MENTS OF MUNICIPALITIES OF FUNCTIONS ON BEHALF OF THE LAND BANK;
(9) TO MAKE AND EXECUTE CONTRACTS AND OTHER INSTRUMENTS NECESSARY OR
CONVENIENT TO THE EXERCISE OF THE POWERS OF THE LAND BANK; AND ANY
CONTRACT OR INSTRUMENT WHEN SIGNED BY THE CHAIRMAN OR VICE-CHAIRMAN OF
THE LAND BANK, OR BY AN AUTHORIZED USE OF THEIR FACSIMILE SIGNATURES,
AND BY THE SECRETARY OR ASSISTANT SECRETARY, OR, TREASURER OR ASSISTANT
TREASURER OF THE LAND BANK, OR BY AN AUTHORIZED USE OF THEIR FACSIMILE
SIGNATURES, SHALL BE HELD TO HAVE BEEN PROPERLY EXECUTED FOR AND ON ITS
BEHALF;
(10) TO PROCURE INSURANCE AGAINST LOSSES IN CONNECTION WITH THE REAL
PROPERTY, ASSETS, OR ACTIVITIES OF THE LAND BANK;
(11) TO INVEST MONEY OF THE LAND BANK, AT THE DISCRETION OF THE BOARD
OF DIRECTORS, IN INSTRUMENTS, OBLIGATIONS, SECURITIES, OR PROPERTY
DETERMINED PROPER BY THE BOARD OF DIRECTORS, AND NAME AND USE DEPOSITO-
RIES FOR ITS MONEY;
S. 4281--A 6
(12) TO ENTER INTO CONTRACTS FOR THE MANAGEMENT OF, THE COLLECTION OF
RENT FROM, OR THE SALE OF REAL PROPERTY OF THE LAND BANK;
(13) TO DESIGN, DEVELOP, CONSTRUCT, DEMOLISH, RECONSTRUCT, REHABILI-
TATE, RENOVATE, RELOCATE, AND OTHERWISE IMPROVE REAL PROPERTY OR RIGHTS
OR INTERESTS IN REAL PROPERTY;
(15) TO FIX, CHARGE, AND COLLECT RENTS, FEES AND CHARGES FOR THE USE
OF REAL PROPERTY OF THE LAND BANK AND FOR SERVICES PROVIDED BY THE LAND
BANK;
(16) TO GRANT OR ACQUIRE A LICENSE, EASEMENT, LEASE (AS LESSOR AND AS
LESSEE), OR OPTION WITH RESPECT TO REAL PROPERTY OF THE LAND BANK;
(17) TO ENTER INTO PARTNERSHIP, JOINT VENTURES, AND OTHER COLLABORA-
TIVE RELATIONSHIPS WITH MUNICIPALITIES AND OTHER PUBLIC AND PRIVATE
ENTITIES FOR THE OWNERSHIP, MANAGEMENT, DEVELOPMENT, AND DISPOSITION OF
REAL PROPERTY; AND
(18) TO DO ALL OTHER THINGS NECESSARY OR CONVENIENT TO ACHIEVE THE
OBJECTIVES AND PURPOSES OF THE LAND BANK OR OTHER LAWS THAT RELATE TO
THE PURPOSES AND RESPONSIBILITY OF THE LAND BANK.
(B) A LAND BANK SHALL NEITHER POSSESS NOR EXERCISE THE POWER OF
EMINENT DOMAIN.
S 1608. ACQUISITION OF PROPERTY.
(A) THE REAL PROPERTY OF A LAND BANK AND ITS INCOME AND OPERATIONS ARE
EXEMPT FROM ALL TAXATION BY THE STATE OF NEW YORK AND BY ANY OF ITS
POLITICAL SUBDIVISIONS.
(B) THE LAND BANK MAY ACQUIRE REAL PROPERTY OR INTERESTS IN REAL PROP-
ERTY BY GIFT, DEVISE, TRANSFER, EXCHANGE, FORECLOSURE, PURCHASE, OR
OTHERWISE ON TERMS AND CONDITIONS AND IN A MANNER THE LAND BANK CONSID-
ERS PROPER.
(C) THE LAND BANK MAY ACQUIRE REAL PROPERTY BY PURCHASE CONTRACTS,
LEASE PURCHASE AGREEMENTS, INSTALLMENT SALES CONTRACTS, LAND CONTRACTS,
AND MAY ACCEPT TRANSFERS FROM MUNICIPALITIES UPON SUCH TERMS AND CONDI-
TIONS AS AGREED TO BY THE LAND BANK AND THE MUNICIPALITY. NOTWITHSTAND-
ING ANY OTHER LAW TO THE CONTRARY, ANY MUNICIPALITY MAY TRANSFER TO THE
LAND BANK REAL PROPERTY AND INTERESTS IN REAL PROPERTY OF THE MUNICI-
PALITY ON SUCH TERMS AND CONDITIONS AND ACCORDING TO SUCH PROCEDURES AS
DETERMINED BY THE MUNICIPALITY.
(D) THE LAND BANK SHALL MAINTAIN ALL OF ITS REAL PROPERTY IN ACCORD-
ANCE WITH THE LAWS AND ORDINANCES OF THE JURISDICTION IN WHICH THE REAL
PROPERTY IS LOCATED.
(E) THE LAND BANK SHALL NOT OWN OR HOLD REAL PROPERTY LOCATED OUTSIDE
THE JURISDICTIONAL BOUNDARIES OF THE FORECLOSING GOVERNMENTAL UNIT OR
UNITS WHICH CREATED THE LAND BANK; PROVIDED, HOWEVER, THAT A LAND BANK
MAY BE GRANTED AUTHORITY PURSUANT TO AN INTERGOVERNMENTAL COOPERATION
AGREEMENT WITH ANOTHER MUNICIPALITY TO MANAGE AND MAINTAIN REAL PROPERTY
LOCATED WITHIN THE JURISDICTION OF SUCH OTHER MUNICIPALITY.
(F) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, ANY
MUNICIPALITY MAY CONVEY TO A LAND BANK REAL PROPERTY AND INTERESTS IN
REAL PROPERTY ON SUCH TERMS AND CONDITIONS, FORM AND SUBSTANCE OF
CONSIDERATION, AND PROCEDURES, ALL AS DETERMINED BY THE TRANSFERRING
MUNICIPALITY IN ITS DISCRETION.
S 1609. DISPOSITION OF PROPERTY.
(A) THE LAND BANK SHALL HOLD IN ITS OWN NAME ALL REAL PROPERTY
ACQUIRED BY THE LAND BANK IRRESPECTIVE OF THE IDENTITY OF THE TRANSFEROR
OF SUCH PROPERTY.
(B) THE LAND BANK SHALL MAINTAIN AND MAKE AVAILABLE FOR PUBLIC REVIEW
AND INSPECTION AN INVENTORY OF ALL REAL PROPERTY HELD BY THE LAND BANK.
S. 4281--A 7
(C) NOTWITHSTANDING THE PROVISIONS OF SECTION TWENTY-EIGHT HUNDRED
NINETY-SEVEN OF THE PUBLIC AUTHORITIES LAW, THE LAND BANK SHALL DETER-
MINE AND SET FORTH IN POLICIES AND PROCEDURES OF THE BOARD OF DIRECTORS
THE GENERAL TERMS AND CONDITIONS FOR CONSIDERATION TO BE RECEIVED BY THE
LAND BANK FOR THE TRANSFER OF REAL PROPERTY AND INTERESTS IN REAL PROP-
ERTY, WHICH CONSIDERATION MAY TAKE THE FORM OF MONETARY PAYMENTS AND
SECURED FINANCIAL OBLIGATIONS, COVENANTS AND CONDITIONS RELATED TO THE
PRESENT AND FUTURE USE OF THE PROPERTY, CONTRACTUAL COMMITMENTS OF THE
TRANSFEREE, AND SUCH OTHER FORMS OF CONSIDERATION AS DETERMINED BY THE
BOARD OF DIRECTORS TO BE IN THE BEST INTEREST OF THE LAND BANK.
(D) THE LAND BANK MAY CONVEY, EXCHANGE, SELL, TRANSFER, LEASE AS
LESSOR, GRANT, RELEASE AND DEMISE, PLEDGE AND HYPOTHECATE ANY AND ALL
INTERESTS IN, UPON OR TO REAL PROPERTY OF THE LAND BANK.
(E) A FORECLOSING GOVERNMENTAL UNIT MAY, IN ITS RESOLUTION OR ORDI-
NANCE CREATING A LAND BANK, OR, IN THE CASE OF MULTIPLE FORECLOSING
GOVERNMENTAL UNITS CREATING A SINGLE LAND BANK IN THE APPLICABLE INTER-
GOVERNMENTAL COOPERATION AGREEMENT, ESTABLISH A HIERARCHICAL RANKING OF
PRIORITIES FOR THE USE OF REAL PROPERTY CONVEYED BY A LAND BANK INCLUD-
ING BUT NOT LIMITED TO:
(1) USE FOR PURELY PUBLIC SPACES AND PLACES;
(2) USE FOR AFFORDABLE HOUSING;
(3) USE FOR RETAIL, COMMERCIAL AND INDUSTRIAL ACTIVITIES;
(4) USE AS WILDLIFE CONSERVATION AREAS; AND
(5) SUCH OTHER USES AND IN SUCH HIERARCHICAL ORDER AS DETERMINED BY
THE FORECLOSING GOVERNMENTAL UNIT OR UNITS.
(F) A FORECLOSING GOVERNMENTAL UNIT MAY, IN ITS RESOLUTION OR ORDI-
NANCE CREATING A LAND BANK, OR, IN THE CASE OF MULTIPLE FORECLOSING
GOVERNMENTAL UNITS CREATING A SINGLE LAND BANK IN THE APPLICABLE INTER-
GOVERNMENTAL COOPERATION AGREEMENT, REQUIRE THAT ANY PARTICULAR FORM OF
DISPOSITION OF REAL PROPERTY, OR ANY DISPOSITION OF REAL PROPERTY
LOCATED WITHIN SPECIFIED JURISDICTIONS, BE SUBJECT TO SPECIFIED VOTING
AND APPROVAL REQUIREMENTS OF THE BOARD OF DIRECTORS. EXCEPT AND UNLESS
RESTRICTED OR CONSTRAINED IN THIS MANNER, THE BOARD OF DIRECTORS MAY
DELEGATE TO OFFICERS AND EMPLOYEES THE AUTHORITY TO ENTER INTO AND
EXECUTE AGREEMENTS, INSTRUMENTS OF CONVEYANCE AND ALL OTHER RELATED
DOCUMENTS PERTAINING TO THE CONVEYANCE OF REAL PROPERTY BY THE LAND
BANK.
S 1610. FINANCING OF LAND BANK OPERATIONS.
(A) A LAND BANK MAY RECEIVE FUNDING THROUGH GRANTS AND LOANS FROM THE
FORECLOSING GOVERNMENTAL UNIT OR UNITS WHICH CREATED THE LAND BANK, FROM
OTHER MUNICIPALITIES, FROM THE STATE OF NEW YORK, FROM THE FEDERAL
GOVERNMENT, AND FROM OTHER PUBLIC AND PRIVATE SOURCES.
(B) A LAND BANK MAY RECEIVE AND RETAIN PAYMENTS FOR SERVICES RENDERED,
FOR RENTS AND LEASEHOLD PAYMENTS RECEIVED, FOR CONSIDERATION FOR DISPO-
SITION OF REAL AND PERSONAL PROPERTY, FOR PROCEEDS OF INSURANCE COVERAGE
FOR LOSSES INCURRED, FOR INCOME FROM INVESTMENTS, AND FOR ANY OTHER
ASSET AND ACTIVITY LAWFULLY PERMITTED TO A LAND BANK UNDER THIS ARTICLE.
(C) FIFTY PERCENT OF THE REAL PROPERTY TAXES COLLECTED ON REAL PROPER-
TY CONVEYED BY A LAND BANK PURSUANT TO THE LAWS OF THE STATE OF NEW YORK
SHALL BE REMITTED TO THE LAND BANK, IN ACCORDANCE WITH PROCEDURES ESTAB-
LISHED BY REGULATIONS PROMULGATED BY THE OFFICE OF THE STATE COMP-
TROLLER. SUCH ALLOCATION OF PROPERTY TAX REVENUES SHALL COMMENCE WITH
THE FIRST TAXABLE YEAR FOLLOWING THE DATE OF CONVEYANCE AND SHALL
CONTINUE FOR A PERIOD OF FIVE YEARS.
S 1611. BORROWING AND ISSUANCE OF BONDS.
S. 4281--A 8
(A) A LAND BANK SHALL HAVE POWER TO ISSUE BONDS FOR ANY OF ITS CORPO-
RATE PURPOSES, THE PRINCIPAL AND INTEREST OF WHICH ARE PAYABLE FROM ITS
REVENUES GENERALLY. ANY OF SUCH BONDS MAY BE SECURED BY A PLEDGE OF ANY
REVENUES, INCLUDING GRANTS OR CONTRIBUTIONS FROM THE STATE OF NEW YORK,
THE FEDERAL GOVERNMENT, OR ANY AGENCY, AND INSTRUMENTALITY THEREOF, OR
BY A MORTGAGE OF ANY PROPERTY OF THE LAND BANK.
(B) THE BONDS ISSUED BY A LAND BANK ARE HEREBY DECLARED TO HAVE ALL
THE QUALITIES OF NEGOTIABLE INSTRUMENTS UNDER NEW YORK STATE LAW.
(C) THE BONDS OF A LAND BANK CREATED UNDER THE PROVISIONS OF THIS
ARTICLE AND THE INCOME THEREFROM SHALL AT ALL TIMES BE FREE FROM TAXA-
TION FOR THE STATE OF NEW YORK OR LOCAL PURPOSES UNDER ANY PROVISION OF
NEW YORK LAW.
(D) BONDS ISSUED BY THE LAND BANK SHALL BE AUTHORIZED BY RESOLUTION OF
THE BOARD AND SHALL BE LIMITED OBLIGATIONS OF THE LAND BANK; THE PRINCI-
PAL AND INTEREST, COSTS OF ISSUANCE, AND OTHER COSTS INCIDENTAL THERETO
SHALL BE PAYABLE SOLELY FROM THE INCOME AND REVENUE DERIVED FROM THE
SALE, LEASE, OR OTHER DISPOSITION OF THE ASSETS OF THE LAND BANK. IN THE
DISCRETION OF THE LAND BANK, THE BONDS MAY BE ADDITIONALLY SECURED BY
MORTGAGE OR OTHER SECURITY DEVICE COVERING ALL OR PART OF THE PROJECT
FROM WHICH THE REVENUES SO PLEDGED MAY BE DERIVED. ANY REFUNDING BONDS
ISSUED SHALL BE PAYABLE FROM ANY SOURCE DESCRIBED ABOVE OR FROM THE
INVESTMENT OF ANY OF THE PROCEEDS OF THE REFUNDING BONDS AND SHALL NOT
CONSTITUTE AN INDEBTEDNESS OR PLEDGE OF THE GENERAL CREDIT OF ANY FORE-
CLOSING GOVERNMENTAL UNIT OR MUNICIPALITY WITHIN THE MEANING OF ANY
CONSTITUTIONAL OR STATUTORY LIMITATION OF INDEBTEDNESS AND SHALL CONTAIN
A RECITAL TO THAT EFFECT. BONDS OF THE LAND BANK SHALL BE ISSUED IN SUCH
FORM, SHALL BE IN SUCH DENOMINATIONS, SHALL BEAR INTEREST, SHALL MATURE
IN SUCH MANNER, AND BE EXECUTED BY ONE OR MORE MEMBERS OF THE BOARD AS
PROVIDED IN THE RESOLUTION AUTHORIZING THE ISSUANCE THEREOF. SUCH BONDS
MAY BE SUBJECT TO REDEMPTION AT THE OPTION OF AND IN THE MANNER DETER-
MINED BY THE BOARD IN THE RESOLUTION AUTHORIZING THE ISSUANCE THEREOF.
(E) ANY MUNICIPALITY MAY ELECT TO GUARANTEE, INSURE, OR OTHERWISE
BECOME PRIMARILY OR SECONDARILY OBLIGATED ON THE INDEBTEDNESS OF THE
LAND BANK SUBJECT, HOWEVER, TO ALL OTHER PROVISIONS OF NEW YORK LAW
APPLICABLE TO MUNICIPAL INDEBTEDNESS.
(F) BONDS ISSUED BY THE LAND BANK SHALL BE ISSUED, SOLD, AND DELIVERED
IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF A RESOLUTION ADOPTED BY
THE BOARD. THE BOARD MAY SELL SUCH BONDS IN SUCH MANNER, EITHER AT
PUBLIC OR AT PRIVATE SALE, AND FOR SUCH PRICE AS IT MAY DETERMINE TO BE
IN THE BEST INTERESTS OF THE LAND BANK. THE RESOLUTION ISSUING BONDS
SHALL BE PUBLISHED IN A NEWSPAPER OF GENERAL CIRCULATION WITHIN THE
JURISDICTION OF THE LAND BANK.
(G) NEITHER THE MEMBERS OF A LAND BANK NOR ANY PERSON EXECUTING THE
BONDS SHALL BE LIABLE PERSONALLY ON ANY SUCH BONDS BY REASON OF THE
ISSUANCE THEREOF. EXCEPT AS PERMITTED IN PARAGRAPH (E) OF THIS SECTION,
SUCH BONDS OR OTHER OBLIGATIONS OF A LAND BANK SHALL NOT BE A DEBT OF
ANY MUNICIPALITY OR OF THE STATE OF NEW YORK, AND SHALL SO STATE ON
THEIR FACE, NOR SHALL ANY MUNICIPALITY OR THE STATE OF NEW YORK NOR ANY
REVENUES OR ANY PROPERTY OF ANY MUNICIPALITY OR OF THE STATE OF NEW YORK
BE LIABLE THEREFOR.
S 1612. PUBLIC RECORDS AND PUBLIC MEETINGS.
THE BOARD SHALL CAUSE MINUTES AND A RECORD TO BE KEPT OF ALL ITS
PROCEEDINGS. EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, THE LAND BANK
SHALL BE SUBJECT TO THE OPEN MEETINGS LAW AND THE FREEDOM OF INFORMATION
LAW.
S 1613. DISSOLUTION OF LAND BANK.
S. 4281--A 9
A LAND BANK MAY BE DISSOLVED AS A TYPE C NOT-FOR-PROFIT CORPORATION
SIXTY CALENDAR DAYS AFTER AN AFFIRMATIVE RESOLUTION APPROVED BY
TWO-THIRDS OF THE MEMBERSHIP OF THE BOARD OF DIRECTORS. SIXTY CALENDAR
DAYS ADVANCE WRITTEN NOTICE OF CONSIDERATION OF A RESOLUTION OF DISSOL-
UTION SHALL BE GIVEN TO THE FORECLOSING GOVERNMENTAL UNIT OR UNITS THAT
CREATED THE LAND BANK, SHALL BE PUBLISHED IN A LOCAL NEWSPAPER OF GENER-
AL CIRCULATION, AND SHALL BE SENT CERTIFIED MAIL TO THE TRUSTEE OF ANY
OUTSTANDING BONDS OF THE LAND BANK. UPON DISSOLUTION OF THE LAND BANK
ALL REAL PROPERTY, PERSONAL PROPERTY AND OTHER ASSETS OF THE LAND BANK
SHALL BECOME THE ASSETS OF THE FORECLOSING GOVERNMENTAL UNIT OR UNITS
THAT CREATED THE LAND BANK. IN THE EVENT THAT TWO OR MORE FORECLOSING
GOVERNMENTAL UNITS CREATE A LAND BANK IN ACCORDANCE WITH SECTION SIXTEEN
HUNDRED THREE OF THIS ARTICLE, THE WITHDRAWAL OF ONE OR MORE FORECLOSING
GOVERNMENTAL UNITS SHALL NOT RESULT IN THE DISSOLUTION OF THE LAND BANK
UNLESS THE INTERGOVERNMENTAL AGREEMENT SO PROVIDES, AND THERE IS NO
FORECLOSING GOVERNMENTAL UNIT THAT DESIRES TO CONTINUE THE EXISTENCE OF
THE LAND BANK.
S 1614. CONFLICTS OF INTEREST.
NO MEMBER OF THE BOARD OR EMPLOYEE OF A LAND BANK SHALL ACQUIRE ANY
INTEREST, DIRECT OR INDIRECT, IN REAL PROPERTY OF THE LAND BANK, IN ANY
REAL PROPERTY TO BE ACQUIRED BY THE LAND BANK, OR IN ANY REAL PROPERTY
TO BE ACQUIRED FROM THE LAND BANK. NO MEMBER OF THE BOARD OR EMPLOYEE OF
A LAND BANK SHALL HAVE ANY INTEREST, DIRECT OR INDIRECT, IN ANY CONTRACT
OR PROPOSED CONTRACT FOR MATERIALS OR SERVICES TO BE FURNISHED OR USED
BY A LAND BANK. THE BOARD MAY ADOPT SUPPLEMENTAL RULES AND REGULATIONS
ADDRESSING POTENTIAL CONFLICTS OF INTEREST AND ETHICAL GUIDELINES FOR
MEMBERS OF THE BOARD AND LAND BANK EMPLOYEES.
S 1615. CONSTRUCTION, INTENT AND SCOPE.
THE PROVISIONS OF THIS ARTICLE SHALL BE CONSTRUED LIBERALLY TO EFFEC-
TUATE THE LEGISLATIVE INTENT AND THE PURPOSES AS COMPLETE AND INDEPEND-
ENT AUTHORIZATION FOR THE PERFORMANCE OF EACH AND EVERY ACT AND THING
AUTHORIZED BY THIS ARTICLE, AND ALL POWERS GRANTED SHALL BE BROADLY
INTERPRETED TO EFFECTUATE THE INTENT AND PURPOSES AND NOT AS A LIMITA-
TION OF POWERS. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS ARTICLE,
IN THE EXERCISE OF ITS POWERS AND DUTIES UNDER THIS ARTICLE AND ITS
POWERS RELATING TO PROPERTY HELD BY THE LAND BANK, THE LAND BANK SHALL
HAVE COMPLETE CONTROL AS FULLY AND COMPLETELY AS IF IT REPRESENTED A
PRIVATE PROPERTY OWNER AND SHALL NOT BE SUBJECT TO RESTRICTIONS IMPOSED
BY THE CHARTER, ORDINANCES, OR RESOLUTIONS OF A LOCAL UNIT OF GOVERN-
MENT.
S 1616. DELINQUENT PROPERTY TAX ENFORCEMENT.
(A) WHENEVER ANY REAL PROPERTY IS ACQUIRED BY A LAND BANK, AND SUCH
REAL PROPERTY IS ENCUMBERED BY A LIEN OR CLAIM FOR REAL PROPERTY TAXES
OWED TO THE FORECLOSING GOVERNMENTAL UNIT OR UNITS THAT CREATED THE LAND
BANK, THE LAND BANK SHALL HAVE THE POWER, BY RESOLUTION OF THE BOARD, TO
DISCHARGE AND EXTINGUISH ANY AND ALL SUCH LIENS OR CLAIMS. WHENEVER ANY
REAL PROPERTY IS ACQUIRED BY A LAND BANK, AND SUCH REAL PROPERTY IS
ENCUMBERED BY A LIEN OR CLAIM FOR REAL PROPERTY TAXES OWED TO THE SCHOOL
DISTRICT, OR TO A MUNICIPALITY OTHER THAN THE FORECLOSING GOVERNMENTAL
UNIT OR UNITS THAT CREATED THE LAND BANK, THE LAND BANK SHALL HAVE THE
POWER, BY RESOLUTION OF THE BOARD, TO DISCHARGE AND EXTINGUISH ANY AND
ALL SUCH LIENS OR CLAIMS IF AND ONLY IF THE SCHOOL DISTRICT, OR MUNICI-
PALITY OTHER THAN THE FORECLOSING GOVERNMENTAL UNIT OR UNITS THAT
CREATED THE LAND BANK, AND THE LAND BANK HAVE ENTERED INTO AN AGREEMENT
AUTHORIZING SUCH DISCHARGE AND EXTINGUISHMENT. TO THE EXTENT NECESSARY
S. 4281--A 10
AND APPROPRIATE THE LAND BANK SHALL FILE IN APPROPRIATE PUBLIC RECORDS
EVIDENCE OF THE EXTINGUISHMENT AND DISSOLUTION OF SUCH LIENS OR CLAIMS.
(B) TO THE EXTENT THAT THE LAND BANK RECEIVES PAYMENTS OF ANY KIND
ATTRIBUTABLE TO LIENS OR CLAIMS FOR REAL PROPERTY TAXES OWED TO ANY
MUNICIPALITY OR TO THE SCHOOL DISTRICT ON PROPERTY ACQUIRED BY THE LAND
BANK, THE LAND BANK SHALL REMIT THE FULL AMOUNT OF SUCH PAYMENTS TO THE
MUNICIPALITY OR TO THE SCHOOL DISTRICT AS APPLICABLE.
(C) A FORECLOSING GOVERNMENTAL UNIT MAY ASSIGN, TRANSFER, AND SELL TO
A LAND BANK ANY TAX CLAIM FILED OR TO BE FILED UNDER ARTICLE ELEVEN OF
THE REAL PROPERTY TAX LAW, UPON SUCH TERMS AND CONDITIONS AS ARE MUTUAL-
LY ACCEPTABLE TO THE FORECLOSING GOVERNMENTAL UNIT AND TO THE LAND BANK,
AND SHALL OTHERWISE CONFER UPON THE LAND BANK THE RIGHTS, PRIVILEGES AND
REMEDIES OF AN ASSIGNEE UNDER NEW YORK LAW.
(D) PURSUANT TO THE PROVISIONS OF SECTION ELEVEN HUNDRED THIRTY-SIX OF
THE REAL PROPERTY TAX LAW, IN ITS FINAL JUDGMENT A COURT MAY AWARD A
LAND BANK THE POSSESSION OF ANY PARCEL OF REAL PROPERTY DESCRIBED IN THE
PETITION OF FORECLOSURE NOT REDEEMED PURSUANT TO THE LAWS OF NEW YORK.
(E) IF THE COURT ORDERS A PUBLIC SALE PURSUANT TO SECTION ELEVEN
HUNDRED THIRTY-SIX OF THE REAL PROPERTY TAX LAW, AND THE PURCHASER OF
THE PROPERTY IS THE LAND BANK, THEN THE FORM, SUBSTANCE, AND TIMING OF
THE LAND BANK'S PAYMENT OF THE SALES PRICE MAY BE ACCORDING TO SUCH
AGREEMENT AS IS MUTUALLY ACCEPTABLE TO THE PLAINTIFF AND THE LAND BANK.
THE OBLIGATION OF THE LAND BANK TO PERFORM IN ACCORDANCE WITH SUCH
AGREEMENT SHALL BE DEEMED TO BE IN FULL SATISFACTION OF THE TAX CLAIM
WHICH WAS THE BASIS FOR THE JUDGMENT. THE LAND BANK, AS PURCHASER AT
SUCH SALE SHALL TAKE AND FOREVER THEREAFTER HAVE, AN ABSOLUTE TITLE TO
THE PROPERTY SOLD, FREE AND DISCHARGED OF ALL TAX AND MUNICIPAL CLAIMS,
LIENS, MORTGAGES, CHARGES AND ESTATES OF WHATSOEVER KIND.
(F) THE NOTICE AND ADVERTISEMENT AS PROVIDED IN SECTIONS ELEVEN
HUNDRED TWENTY-FOUR AND ELEVEN HUNDRED TWENTY-FIVE OF THE REAL PROPERTY
TAX LAW SHALL CONTAIN REFERENCE TO A POTENTIAL BID BY THE LAND BANK.
(G) THE DEED SPECIFIED BY SECTION ELEVEN HUNDRED THIRTY-SIX OF THE
REAL PROPERTY TAX LAW SHALL BE DELIVERED TO THE LAND BANK AND ACKNOWL-
EDGED AND RECORDED WITHIN THIRTY DAYS OF THE DATE OF THE FINAL JUDGMENT.
(H) (1) IN A PETITION OF FORECLOSURE A FORECLOSING GOVERNMENTAL UNIT,
OR A LAND BANK IF IT IS THE HOLDER OF MUNICIPAL TAX LIENS, IS AUTHORIZED
TO COMBINE IN A SINGLE PETITION MULTIPLE TRACTS OF REAL PROPERTY SO LONG
AS THE PETITION AND ACCOMPANYING AFFIDAVITS PROVIDE:
(A) IDENTIFICATION OF EACH TRACT OF REAL PROPERTY;
(B) THE IDENTITIES OF ALL PARTIES HAVING AN INTEREST IN EACH RESPEC-
TIVE TRACT OF REAL PROPERTY;
(C) THE AMOUNT OF THE TAX LIEN THEN DUE AND OWING; AND
(D) THE NATURE OF THE NOTICE OF THE PROPOSED SALE PROVIDED TO SUCH
INTERESTED PARTIES.
(2) THE COURT MAY AUTHORIZE IN A SINGLE FINAL JUDGMENT THAT ALL OR
PART OF THE REAL PROPERTIES IDENTIFIED IN THE PETITION BE SOLD FREE AND
CLEAR OF ALL TAX AND MUNICIPAL CLAIMS, MORTGAGES, LIENS, CHARGES AND
ESTATES.
(I) NOTWITHSTANDING OTHER PROVISIONS OF NEW YORK LAW, THE LAND BANK
MAY TENDER A BID AT ANY JUDICIALLY ORDERED SALE IN AN AMOUNT EQUAL TO
THE TOTAL AMOUNT OF ALL MUNICIPAL CLAIMS AND LIENS WHICH WERE THE BASIS
FOR THE JUDGMENT. IN THE EVENT OF SUCH TENDER BY THE LAND BANK THE PROP-
ERTY SHALL BE DEEMED SOLD TO THE LAND BANK REGARDLESS OF ANY BIDS BY ANY
OTHER THIRD PARTIES. THE BID OF THE LAND BANK SHALL BE PAID AS TO ITS
FORM, SUBSTANCE, AND TIMING ACCORDING TO SUCH AGREEMENT AS IS MUTUALLY
ACCEPTABLE TO THE PLAINTIFF AND THE LAND BANK. THE OBLIGATION OF THE
S. 4281--A 11
LAND BANK TO PERFORM IN ACCORDANCE WITH SUCH AGREEMENT SHALL BE DEEMED
TO BE IN FULL SATISFACTION OF THE MUNICIPAL CLAIM WHICH WAS THE BASIS
FOR THE JUDGMENT. THE LAND BANK, AS PURCHASER AT SUCH SALE SHALL TAKE
AND FOREVER THEREAFTER HAVE, AN ABSOLUTE TITLE TO THE PROPERTY SOLD,
FREE AND DISCHARGED OF ALL TAX AND MUNICIPAL CLAIMS, LIENS, MORTGAGES,
CHARGES AND ESTATES OF WHATSOEVER KIND. THE DEED TO THE LAND BANK SHALL
BE EXECUTED, ACKNOWLEDGED AND DELIVERED WITHIN THIRTY DAYS OF THE SALE.
S 1617. EXPEDITED QUIET TITLE PROCEEDINGS.
(A) A LAND BANK SHALL BE AUTHORIZED TO FILE AN ACTION TO QUIET TITLE
AS TO ANY REAL PROPERTY IN WHICH THE LAND BANK HAS AN INTEREST. FOR
PURPOSES OF ANY AND ALL SUCH ACTIONS THE LAND BANK SHALL BE DEEMED TO BE
THE HOLDER OF SUFFICIENT LEGAL AND EQUITABLE INTERESTS, AND POSSESSORY
RIGHTS, SO AS TO QUALIFY THE LAND BANK AS ADEQUATE COMPLAINANT IN SUCH
ACTION.
(B) PRIOR TO THE FILING OF AN ACTION TO QUIET TITLE THE LAND BANK
SHALL CONDUCT AN EXAMINATION OF TITLE TO DETERMINE THE IDENTITY OF ANY
AND ALL PERSONS AND ENTITIES POSSESSING A CLAIM OR INTEREST IN OR TO THE
REAL PROPERTY. SERVICE OF THE COMPLAINT TO QUIET TITLE SHALL BE PROVIDED
TO ALL SUCH INTERESTED PARTIES BY THE FOLLOWING METHODS:
(1) REGISTERED OR CERTIFIED MAIL TO SUCH IDENTITY AND ADDRESS AS
REASONABLY ASCERTAINABLE BY AN INSPECTION OF PUBLIC RECORDS;
(2) IN THE CASE OF OCCUPIED REAL PROPERTY, BY REGISTERED OR CERTIFIED
MAIL, ADDRESSED TO "OCCUPANT";
(3) BY POSTING A COPY OF THE NOTICE ON THE REAL PROPERTY; AND
(4) BY PUBLICATION IN A NEWSPAPER OF GENERAL CIRCULATION IN THE MUNI-
CIPALITY IN WHICH THE PROPERTY IS LOCATED; AND/OR
(5) BY SUCH OTHER METHODS AS THE COURT MAY ORDER.
(C) AS PART OF THE COMPLAINT TO QUIET TITLE THE LAND BANK SHALL FILE
AN AFFIDAVIT IDENTIFYING ALL PARTIES POTENTIALLY HAVING AN INTEREST IN
THE REAL PROPERTY, AND THE FORM OF NOTICE PROVIDED.
(D) THE COURT SHALL SCHEDULE A HEARING ON THE COMPLAINT WITHIN NINETY
DAYS FOLLOWING FILING OF THE COMPLAINT, AND AS TO ALL MATTERS UPON WHICH
AN ANSWER WAS NOT FILED BY AN INTERESTED PARTY THE COURT SHALL ISSUE ITS
FINAL JUDGMENT WITHIN ONE HUNDRED TWENTY DAYS OF THE FILING OF THE
COMPLAINT.
(E) A LAND BANK SHALL BE AUTHORIZED TO JOIN IN A SINGLE COMPLAINT TO
QUIET TITLE ONE OR MORE PARCELS OF REAL PROPERTY.
S 2. This act shall take effect immediately.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.