New York General Municipal Law Article 15-A - MUNICIPAL URBAN RENEWAL AGENCIES, ORGANIZATION AND POWERS

• 550 - Short Title.
  This article may be cited as the "Urban Renewal Agency Act. "
• 551 - Policy and Purposes of Article.
  It is hereby declared to be the policy of this state to promote the expeditious undertaking, financing and completion of municipal urban renewal programs by...
• 552 - Definitions.
  As used or referred to in this article unless a different meaning clearly appears from the context: 1. "Agency" shall mean an urban renewal agency...
• 553 - Organization of Urban Renewal Agencies.
  1. (a) Upon the establishment of a municipal urban renewal agency by special act of the legislature, the mayor of the city or village wherein...
• 554 - Powers of an Agency.
  Subject to the provisions of article fifteen of this chapter, an agency is authorized to plan and undertake one or more urban renewal projects and...
• 554-a - Agency Contracts.
  Except as otherwise expressly provided by an act of the legislature, provisions of state and local law applicable to the letting of public works and...
• 555 - Acquisition of Property.
  1. (a) Real property or any interest therein, including but not limited to air rights, and easements or other rights of user necessary for the...
• 556 - Disposition of Property.
  1. An agency may sell, lease for a term not exceeding ninety-nine years, or otherwise dispose of any real property and appurtenances thereto or any...
• 557 - State Capital Grants.
  1. The commissioner may in the name of the state, (a) in the case of agencies which have contracted with the federal government for a...
• 558 - Authority of Agency; Other Terms and Contracts.
  1. An agency is authorized to enter into agreement with the state to receive such state capital grants to assist such agency to establish and...
• 559 - Bonds of an Agency.
  1. (a) An agency shall have power and is hereby authorized from time to time to issue its negotiable bonds and notes in conformity with...
• 560 - Exemption From Taxation of Property and Income.
  The property of an agency and its income and operations shall be exempt from taxation.
• 561 - Exemption From Taxation of Bonds.
  Bonds, mortgages, notes and other obligations of an agency are declared to be issued for a public purpose and to be public instrumentalities and together...
• 561-a - Accounts, Reports and Audits.
  1. The accounting records of an agency shall be maintained in accordance with a system prescribed by the state comptroller. 2. Within sixty days after...
• 561-b - Fiscal Year.
  The fiscal year of an agency shall begin on the same day and end on the same day of the calendar month on which the...
• 562 - Powers Additional and Supplemental.
  The powers conferred by this article shall be in addition and supplemental to existing powers relating to the effectuating of an urban renewal program, and...
• 563 - Separability Clause.
  If any clause, sentence, paragraph, section or part of this article shall be adjudged by any court of competent jurisdiction to be invalid such judgment...

Last modified: February 3, 2019