S T A T E   O F   N E W   Y O R K
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                                   8939
 
                           I N  A S S E M B L Y
 
                              January 2, 2020
                                ___________
 
 Introduced  by  M.  of  A.  BUTTENSCHON -- read once and referred to the
   Committee on Economic Development
 
 AN ACT to amend the New York state urban development corporation act, in
   relation to authorizing municipalities to purchase private residential
   real property located in a floodplain
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 1 of chapter 174 of the laws of 1968, constituting
 the New York state urban development  corporation  act,  is  amended  by
 adding a new section 15-a to read as follows:
   §  15-A. SPECIAL PROVISIONS RELATING TO PRIVATE RESIDENTIAL REAL PROP-
 ERTY LOCATED IN A FLOODPLAIN. (1) NOTWITHSTANDING ANY PROVISION  OF  LAW
 TO  THE CONTRARY, BUT SUBJECT TO ANY AGREEMENT WITH NOTEHOLDERS OR BOND-
 HOLDERS, ANY CITY, TOWN OR VILLAGE  IS  HEREBY  AUTHORIZED  TO  PURCHASE
 PRIVATE RESIDENTIAL REAL PROPERTY WHICH IS LOCATED IN A FLOODPLAIN.
   (2)  NOTWITHSTANDING  ANY PROVISION OF LAW TO THE CONTRARY, ANY STRUC-
 TURE WHICH IS LOCATED ON PRIVATE RESIDENTIAL REAL PROPERTY LOCATED IN  A
 FLOODPLAIN WHICH IS PURCHASED BY A CITY, TOWN OR VILLAGE SHALL BE DEMOL-
 ISHED.
   (3)  NOTWITHSTANDING  ANY  PROVISION  OF  LAW TO THE CONTRARY, PRIVATE
 RESIDENTIAL REAL PROPERTY ACQUIRED PURSUANT TO  THIS  SECTION  SHALL  BE
 DEEMED  PUBLIC  PROPERTY  AND  SUCH  PROPERTY SHALL BE DEDICATED AS OPEN
 SPACE.
   (4) A CITY, TOWN OR VILLAGE MAY OFFER TO PURCHASE PRIVATE  RESIDENTIAL
 REAL  PROPERTY  WHICH  IS LOCATED IN A FLOODPLAIN FOR AN AMOUNT UP TO OR
 EQUAL TO THE FAIR MARKET VALUE OF SUCH PROPERTY AS SUCH PROPERTY  IS  OR
 WAS VALUED PRIOR TO ANY FLOOD DAMAGE.
   (5) A CITY, TOWN, OR VILLAGE WHICH ELECTS TO PURCHASE PRIVATE RESIDEN-
 TIAL  REAL PROPERTY WHICH IS LOCATED IN A FLOODPLAIN SHALL PAY ALL COSTS
 TYPICALLY ASSOCIATED WITH THE SALE OF PRIVATE RESIDENTIAL REAL PROPERTY,
 INCLUDING, BUT NOT LIMITED TO, FEES FOR AN APPRAISAL, TITLE  SEARCH,  OR
 LOT  SURVEY AND ANY ASSOCIATED CLOSING COSTS. THE SELLER OF SUCH PRIVATE
 RESIDENTIAL REAL PROPERTY SHALL BE RESPONSIBLE FOR THE  PAYMENT  OF  ANY
 MORTGAGE,  LIEN OR OTHER FINANCIAL ENCUMBRANCE ON SUCH PROPERTY, AS WELL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD13898-01-9

 A. 8939                             2
 
 AS FOR ANY MOVING COSTS OR COSTS ASSOCIATED WITH RENTING OR  BUYING  NEW
 PROPERTY.
   (6)  NO OWNER OF PRIVATE RESIDENTIAL REAL PROPERTY WHICH IS LOCATED IN
 A FLOODPLAIN SHALL BE REQUIRED TO RELINQUISH HIS OR HER  REAL  PROPERTY;
 PROVIDED, HOWEVER, THAT OWNERS OF SUCH PRIVATE RESIDENTIAL REAL PROPERTY
 MAY  NEED TO TAKE RISK MITIGATION MEASURES, SUCH AS ELEVATING ANY STRUC-
 TURES ON SUCH PROPERTY.
   § 2. This act shall take effect immediately.