New York Statutes

§ 10 — Acquisition of real property

New York·Law UDR Urban development research corporation act 173/68

§ 10. Acquisition of real property.

(1)Real property may be acquired\nby the corporation or by a subsidiary, or by a municipality for the\ncorporation or a subsidiary, by gift, grant, devise, purchase,\ncondemnation or otherwise.\n (2) The corporation or a subsidiary, electing to acquire real property\nthrough acquisition, may petition the municipality to institute\nproceedings pursuant to the provisions of the eminent domain procedure\nlaw, to acquire property described in the petition for a project. The\nresolution granting the petition shall set forth the amount to be paid\nby the corporation or subsidiary to the municipality for such property\nor, in lieu thereof, that the corporation or subsidiary shall pay to the\nmunicipality all sums expended or required to be expended by the\n

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