§ 968. Disposition of property. (a) Notwithstanding any provision of
any other law to the contrary, in order to further the purposes of the
empire zones program, any real or personal property located within an
empire zone and owned by any local governmental entity in whose
jurisdiction an empire zone is located, may be sold or leased for a term
not exceeding ninety-nine years to a private user, a community-based
organization, a public benefit corporation or any other person:
provided, however, that each contract for such sale, and each such
lease, shall obligate the buyer or lessee to comply with the provisions
of this article and the empire zone development plan filed with the
commissioner pursuant to section nine hundred sixty-two of this article.
Such obligations contained in a contract for the sale of real property
shall survive delivery of the deed. A breach by the buyer or lessee of a
material obligation of such contract or lease shall, in addition to any
other remedies available to the seller or lessor under the contract,
terminate the eligibility of the buyer or lessee for any benefits
provided in this article.

(b) Any real or personal property owned by any local governmental
entity or the state and located within an empire zone may be sold or
leased to any person pursuant to this section without public bidding or
public sale; provided, however, that there is published in at least one
newspaper of general circulation in the municipality in which the empire
zone is located a notice which shall include a statement of the identity
of the proposed purchaser or lessee and a description of its proposed
use or re-use of the property, the price or rental to be paid by such
purchaser or lessee, all other essential conditions of such sale or
lease, and a statement that a public hearing upon such sale or lease
will be held by the seller or lessor of the property at a specified time
and place on a date not less than ten days nor more than thirty days
after such publication, and provided further that such public hearing is
held in accordance with such notice.