§ 217 — Temporary use or occupation of real property taken by acquisition

New York § 217

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 6: Urban Redevelopment Corporations

Text

§ 217. Temporary use or occupation of real property taken by\nacquisition. When title to real property has vested in a redevelopment\ncorporation or city by gift, grant, devise, purchase or in acquisition\nproceedings or otherwise, the redevelopment corporation or city, as the\ncase may be, may in accordance with the provisions of the eminent domain\nprocedure law agree with the previous owners of such property, or any\ntenants continuing to occupy or use it, or any other persons who may\noccupy or use or seek to occupy or use such property, that such former\nowner, tenant or other persons may occupy or use such property upon the\npayment of a fixed sum of money for a definite term or upon the payment\nperiodically of an agreed sum of money.\n In the event that a city has acquired real property for a\nredevelopment corporation, the city shall, in transferring title to the\nredevelopment corporation, deduct from the consideration or other moneys\nwhich the redevelopment corporation has become obligated to pay to the\ncity for such purpose, and credit the redevelopment corporation with,\nthe amounts received by the city as payment for temporary occupation and\nuse of the real property by a former owner, tenant, or other person, as\nin this section two hundred seventeen provided, less the cost and\nexpense incurred by the city for the maintenance and operation of such\nreal property.\n