A05681 Summary:

BILL NOA05681
 
SAME ASNo Same As
 
SPONSORHooper
 
COSPNSR
 
MLTSPNSR
 
Add S55, County L; amd SS3 & 12, UDC Act
 
Creates land banks for the acquisition of vacant and abandoned properties and authorizes the sale of such properties.
Go to top    

A05681 Actions:

BILL NOA05681
 
03/03/2015referred to local governments
01/06/2016referred to local governments
Go to top

A05681 Committee Votes:

Go to top

A05681 Floor Votes:

There are no votes for this bill in this legislative session.
Go to top

A05681 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5681
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 3, 2015
                                       ___________
 
        Introduced by M. of A. HOOPER -- read once and referred to the Committee
          on Local Governments
 
        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:
 
     1    Section 1.  The county law is amended by adding a new  section  55  to
     2  read as follows:
     3    § 55. Authorization to create a land bank. 1. As used in this section,
     4  a "land bank" is a public corporation established to assist or engage in
     5  the  process  of  the effective conversion of vacant, abandoned and tax-
     6  delinquent properties to productive use. Vacant and/or abandoned proper-
     7  ty shall be deemed to be residential, commercial, and industrial  build-
     8  ings  and empty lots that either threaten public safety including public
     9  nuisances; and/or have been subject to the neglect of fundamental duties
    10  of property ownership including, but not  limited  to,  failure  to  pay
    11  taxes or utility bills, defaults on mortgages, and liens against proper-
    12  ty.  Such  process may, consistent with municipal land use and strategic
    13  plans include, but need not be limited to, acquisition of land,  leasing
    14  and sales of land and structures, expedited foreclosure and title clear-
    15  ance,  administration,  inventory and assessment of existing parcels and
    16  structures, planning for reuse consistent with local plans and reinvest-
    17  ment strategies, property maintenance,  rehabilitation  and  management,
    18  demolition,  disassembly  and  salvage  and providing for assistance for
    19  nonprofit organizations involved in the rehabilitation and redevelopment
    20  of properties.
    21    2. The legislative body of any county may adopt a  resolution  calling
    22  upon  the  state urban development corporation to establish a subsidiary
    23  corporation to perform the functions of a land bank pursuant to  section
    24  twelve  of  the  New  York state urban development corporation act. When
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09231-01-5

        A. 5681                             2
 
     1  authorized by resolution of a county legislative body, the  municipality
     2  may transfer vacant and/or abandoned property to such a land bank corpo-
     3  ration operating within its jurisdiction.
     4    §  2.  Section  3  of  section  1  of chapter 174 of the laws of 1968,
     5  constituting the New York state urban development  corporation  act,  is
     6  amended by adding a new subdivision 31 to read as follows:
     7    (31)  "Land  bank"  is  a  public corporation established to assist or
     8  engage in the process of the effective conversion of  vacant,  abandoned
     9  and tax-delinquent properties to productive use. Vacant and/or abandoned
    10  property  shall  be deemed to be residential, commercial, and industrial
    11  buildings and empty lots that either threaten  public  safety  including
    12  public nuisances; and/or have been subject to the neglect of fundamental
    13  duties of property ownership including but not limited to failure to pay
    14  taxes or utility bills, defaults on mortgages, and liens against proper-
    15  ty.  Such  process may, consistent with municipal land use and strategic
    16  plans, include, but need not be limited to acquisition of land,  leasing
    17  and sales of land and structures, expedited foreclosure and title clear-
    18  ance,  administration,  inventory and assessment of existing parcels and
    19  structures,  planning for reuse  consistent with local plans  and  rein-
    20  vestment  strategies, property   maintenance, rehabilitation and manage-
    21  ment, demolition,  disassembly and salvage and providing for  assistance
    22  for  nonprofit organizations involved in the rehabilitation and redevel-
    23  opment of properties.
    24    § 3. Section 12 of section 1 of chapter  174  of  the  laws  of  1968,
    25  constituting  the  New  York state urban development corporation act, is
    26  amended by adding a new subdivision 1-a to read as follows:
    27    (1-a) (a) Upon receipt of a resolution approved by a majority  of  the
    28  legislative  body  of  any  county,  the  corporation  shall establish a
    29  subsidiary corporation to perform the functions of a land bank  pursuant
    30  to subdivision thirty-one of section three of this act. The directors of
    31  such  subsidiary  shall include two appointees by both the chief elected
    32  officer and legislative body of the county petitioning for the  creation
    33  of  the  subsidiary  corporation.  Members  of  the  subsidiary shall be
    34  persons who have demonstrated special interest, experience, or education
    35  in urban and/or regional planning, real estate,  community  development,
    36  neighborhood  preservation,  historic  preservation,  finance or related
    37  areas. The corporation may condition the creation of a  subsidiary  land
    38  bank  on  an agreement from the petitioning county to deed not less than
    39  fifty percent of the vacant and abandoned property held by  the  munici-
    40  pality to the subsidiary land bank.
    41    (b) Notwithstanding any other provision of law, a subsidiary land bank
    42  may institute a proceeding pursuant to article 19-A of the real property
    43  actions and proceedings law.
    44    (c) Notwithstanding any other provision of law, a subsidiary land bank
    45  with  agreement  therefor from the county where property is located, may
    46  borrow against future tax revenue increases. In addition, upon receiving
    47  such agreement a subsidiary land bank may  also  borrow  against  future
    48  savings  associated  with  the  decrease in costs on a block or multiple
    49  blocks cleared and reverting to green space.
    50    (d) Notwithstanding any other provision of law, a subsidiary land bank
    51  may, upon such terms as it deems appropriate, convey title to any  prop-
    52  erty  to which it obtains title pursuant to a proceeding pursuant to the
    53  provisions of paragraph (a) of this subdivision or of  article  19-A  of
    54  the  real  property  actions  and proceedings law to a private purchaser
    55  provided such purchaser resides at the property as his  or  her  primary
    56  residence for a period of no less than two years. During the initial two

        A. 5681                             3
 
     1  years  after the conveyance to the private purchaser, the property shall
     2  be exempt from ad valorem real  estate  taxes,  provided  the  purchaser
     3  continues  to  reside  at  the  property  as provided in this paragraph.
     4  Thereafter, or earlier if the purchaser ceases to reside at the property
     5  as  his  or  her primary residence, the property shall be placed back on
     6  the tax rolls and shall be subject to full taxation, unless it is other-
     7  wise eligible for credits against such taxation.
     8    § 4. This act shall take effect immediately.
Go to top