§ 63 — Partial payment of awards

§ 63. Partial payment of awards. In any proceeding instituted\npursuant to the provisions of this chapter for the acquisition of title\nto property by the city, in which title thereto shall have become vested\nin the city by virtue of the entry of an order in compliance with\nsection sixty-two of this chapter, the city shall be authorized to pay\nto the person entitled to an award for property acquired in such\nproceeding, in advance of the final determination of his damages, a sum\nequal to seventy-five per centum of the assessed valuation of such\nproperty less the liens and encumbrances of record thereon. Before any\nsuch advance payment shall be made the comptroller shall procure the\ncertificate of the corporation counsel showing that the person to whom\npayment is to be made is the person legally entitled to receive the\nsame. If the city shall authorize a partial payment in advance to any\nperson entitled to an award, interest on the sum so authorized to be\npaid in advance shall cease to run five days after such person shall\nhave been notified by mail or otherwise that the comptroller is ready to\npay the same. In case the person entitled to an award at the date of the\nvesting of title to the property in the city shall have transferred or\nassigned his claim, such transfer or assignment made by him, or by his\nsuccessor in interest or legal representative, shall not become binding\nupon the city unless the instrument evidencing such transfer or\nassignment shall have been executed and filed in the office of the\ncomptroller as provided in this chapter, prior to any such advance\npayment. When any such advance payment shall have been made, the\ncomptroller, on paying the awards made for the property acquired, shall\ndeduct from the total amount allowed as compensation the sum advanced\nplus interest thereon from the date of the payment of such advance to\nthe date of payment of the final award, and the balance shall be paid as\nprovided by this article. In case an advance payment shall have been\nauthorized and the person entitled thereto shall have been notified by\nmail or otherwise that the comptroller is ready to make such advance\npayment, interest on the amount so authorized to be paid in advance from\na date five days after notification by the comptroller that he is ready\nto make such advance payment to the time the person entitled thereto\nshall accept such advance payment, shall be deducted by the comptroller\non paying the awards therefor from the total amount allowed as\ncompensation to such person. Such advance payment shall be made in\naccordance with the provisions of section sixty-nine of this chapter.\n