S T A T E   O F   N E W   Y O R K
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                                  2681

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2011
                               ___________

Introduced  by  M.  of A. FITZPATRICK, FINCH, RABBITT, TEDISCO -- Multi-
  Sponsored by -- M. of A.   BARCLAY, BURLING,  CONTE,  CROUCH,  GIGLIO,
  McDONOUGH,  RAIA,  SAYWARD,  THIELE  --  read once and referred to the
  Committee on Local Governments

AN ACT to amend the general municipal law, in relation to expanding  the
  provisions of the urban development action area act

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivisions 2 and 3 of section 692 of the general  munici-
pal law, subdivision 2 as amended by chapter 555 of the laws of 1994 and
subdivision 3 as amended by chapter 492 of the laws of 2002, are amended
to read as follows:
  2. "Municipality". A city [having a population of one hundred thousand
or more] and the town of Huntington.
  3. "Eligible area". Real property, title to which is held by a munici-
pality.  Provided,  however,  that  [in  a city of one million or more,]
property that the city conveys by deed made pursuant to  a  judgment  of
foreclosure  in  an  in rem tax lien foreclosure proceeding, or property
whose conveyance is caused by, or the result of, the city's  foreclosure
of  a tax lien thereon, including property to which title has not vested
in the city, which is then acquired by a  third  party,  shall  also  be
deemed  an  eligible area under this article. Provided further, however,
that in a city of one million or more, property that has  been  acquired
by the federal government as the result of the foreclosure of a mortgage
loan  insured  or held by the federal government shall also be deemed an
eligible area under this article. Provided further, however,  that  real
property consisting of two contiguous acres or more of wooded land which
exists  as  substantially  undeveloped  at the time this article becomes
effective shall not be included as an eligible area for purposes of this
article.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03048-01-1

              

A. 2681                             2

  S 2. Subdivision 2 of section 696-d of the general municipal  law,  as
added by chapter 680 of the laws of 1996, is amended to read as follows:
  2.  Notwithstanding  the  provisions  of any general, special or local
law, the agency [in a city having a population of one million  or  more]
is  hereby  authorized  to make or contract to make mortgage loans or to
participate with another lender in the making of mortgage loans for  the
development  of  any  neighborhood  improvement project that such agency
determines to be an improvement  associated  with  the  construction  or
rehabilitation  of private or multiple dwellings. Real property assisted
with a loan pursuant to this section shall be located: (i) in  an  urban
development  action  area;  (ii)  in  proximity  to an urban development
action area; or (iii) in proximity to an urban development  action  area
project  for  which the area designation requirement was waived pursuant
to section six hundred ninety-three of this article.
  S 3. This act shall take effect immediately.