§ 54-0909 — Restriction on alienation

§ 54-0909. Restriction on alienation.\n 1. Real property acquired, developed, improved, restored or\nrehabilitated by or through a municipality pursuant to paragraph a of\nsubdivision four of section 54-0903 of this title or undertaken by or on\nbehalf of the city of New York with funds made available pursuant to\nthis title shall not be sold, leased, exchanged, donated or otherwise\ndisposed of or used for other than public park purposes without the\nexpress authority of an act of the legislature, which shall provide for\nthe substitution of other lands of equal environmental value and fair\nmarket value and reasonably equivalent usefulness and location to those\nto be discontinued, sold or disposed of, and such other requirements as\nshall be approved by the commissioner.\n 2. Real property acquired by a not-for-profit organization with funds\nmade available pursuant to paragraph b of subdivision four of section\n54-0903 of this title shall not be used in violation of an agreement\nentered into pursuant to the provisions of paragraph b of subdivision\ntwo of section 54-0907 of this title, or sold, leased, exchanged,\ndonated or otherwise disposed of without the express authority of an act\nof the legislature.\n