§ 2676-S — Agreements relating to payment in lieu of taxes

§ 2676-s. Agreements relating to payment in lieu of taxes. 1. In order\nto assure that municipalities shall not suffer undue loss of taxes or\nassessments in the event that the authority acquires any facility from\nthe county, any person paying real property taxes or assessments as of\nthe date of the transfer of title from the county to the authority on\nany property located within any such facility shall make payments in\nlieu of taxes in an amount equal to the sums which would ordinarily be\nimposed as taxes by any municipality in which such property is located,\npursuant to the prevailing method of determining taxes and assessments.\n 2. Subject to any agreement with bond holders, the authority may, with\nthe approval of the county, but shall not be required to, enter into\nagreements with any municipality of the state to pay annual sums in lieu\nof taxes to any such municipality in respect of any real property which\nis owned by the authority is located in such municipality and is used\nfor public purposes. For the purposes of this section, such public\npurposes shall include without limitation athletic facilities,\neducational facilities, performing arts facilities, or residential\nfacilities.\n 3. (a) In the event that any real property owned by the authority is\nused by the authority or a lessee thereof for purposes other than public\npurposes, the authority, or lessee thereof, as the case may be, may,\nwith the approval of the county, enter into agreements with any\nmunicipality of the state to pay annual sums in lieu of taxes in respect\nof such real property located in such municipality. For the purposes of\nthis section, such purposes other than public purposes shall include\nwithout limitation, athletic facilities, educational facilities,\nperforming arts facilities, residential facilities, or office buildings\nto the extent not used by the authority or any other public corporation\nfor its own corporate purposes, and such other buildings and\nimprovements as determined by the authority to be not exclusively for\npublic purposes.\n (b) The authority shall determine (i) the amount of such annual\npayments in lieu of taxes; (ii) whether the use of such property is for\npurposes other than public purposes; and (iii) the extent to which such\nproperty is used for purposes other than public purposes. In making such\ndeterminations the authority shall take into consideration the\nrecommendations, if any, of the county.\n