N.Y. Environmental Conservation Law 54-1525 – Restriction on alienation
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§ 54-1525. Restriction on alienation.
Terms Used In N.Y. Environmental Conservation Law 54-1525
- Commissioner: means the commissioner of environmental conservation; except that within and for the purposes of the projects undertaken by the office pursuant to title nine of this article, the term shall mean the commissioner of the office of parks, recreation and historic preservation. See N.Y. Environmental Conservation Law 54-0101
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Municipality: means a local public authority or public benefit corporation, a county, city, town, village, or Indian tribe or nation residing within New York state, or any combination thereof. See N.Y. Environmental Conservation Law 54-0101
Real property acquired, developed, improved, restored or rehabilitated by a municipality pursuant to paragraph (i) of subdivision one of section 54-1523 of this title with funds made available pursuant to this title shall not be sold or disposed of or used for other than public purposes without the express authority of an act of the legislature, which shall provide for the substitution of other lands of equal environmental and fair market value and reasonably equivalent usefulness and location to those to be discontinued, sold or disposed of, and such other requirements as shall be approved by the commissioner.