§ 30 — Transfer of real property

§ 30. Transfer of real property. 1. Notwithstanding any requirement of\nlaw to the contrary, every executor, administrator, trustee, guardian or\nother person, holding trust funds or acting in a fiduciary capacity,\nunless the instrument under which such fiduciary is acting expressly\nforbids, the state, its subdivisions, municipalities, all other public\nbodies, all public officers, persons, partnerships and corporations\norganized under and governed as to investments by or pursuant to the\nprovisions of the banking law or organized under or subject to the\nprovisions of the insurance law, the superintendent of financial\nservices as conservator, liquidator or rehabilitator of any such person,\npartnership or corporation, owning or holding any real property may\ngrant, sell, lease or otherwise transfer any such real property to a\ncompany and receive and hold any cash, stock, bonds, notes, mortgages,\nor other securities or obligations, secured or unsecured, exchanged\ntherefor by such company and may execute such instruments and do such\nacts as may be deemed necessary or desirable by them or it and by the\ncompany in connection with a project or projects. Notwithstanding the\nprovisions of any general, special or local law, charter or ordinance,\nsuch grant, sale, lease or transfer may be made without public auction\nor bidding.\n 2. Any banking institution, foundation, labor union, employers'\nassociation, veterans' organization or insurance company, or any group\nthereof, which has undertaken a project through direct ownership or\nlease may transfer to the project any real property which it owns or\nholds within an area. The market value of such property, as approved by\nthe commissioner or the supervising agency, as the case may be, shall be\nincluded in the estimated or actual project cost.\n 3. Notwithstanding the provisions of any general, special or local\nlaw, charter or ordinance, the local legislative body of a city having a\npopulation of one million or more may, upon the request of or with the\napproval of the board of education of such city's school district,\ngrant, sell, lease or otherwise transfer any lands or rights or\ninterests therein or thereto, including fee interest, easements, space\nrights or air rights or other rights or interests owned by such city and\noccupied or reserved for school purposes and needed therefor, to a\ncompany where necessary for the joint development of a project and a\nschool or appurtenant facilities without public auction or bidding,\nprovided that no such sale, lease or transfer of lands or rights therein\nor thereto is authorized where the development of a project contemplates\nthe erection of housing facilities over an existing school or\nplayground. The term of any such lease shall not be limited by any\nprovision of any general, special or local law or charter applicable to\nsuch city limiting the period of time during which a lease or any\nrenewal thereof may run.\n