US Laws, Codes, Statutes & Cases

 
    §  5-450  Agreements  with  owners. a. It shall also be lawful for the
  board of estimate, with respect to a street closing, and the mayor, with
  respect to acquisition, either before of  after  the  institution  of  a
  proceeding  under  this subchapter, to agree with the owners of the real
  property that will be affected  by  such  closing,  for  and  about  the
  cession  to  the  city  of  other  real  property  included  within  the
  boundaries of any established street shown on the city map, in  lieu  of
  the real property comprised within the lines of the closed street, or to
  agree  for  and about the compensation to be made to such owners for the
  same or for and about the value of real property to be ceded in lieu  of
  such discontinued or closed portion or portions of such street.
    b.  In  case of any such agreement or agreements with part only of the
  owners entitled to and interested in the same real property so affected,
  for the purpose of making any such discontinuance or closing, or cession
  in lieu of such closing, the same shall be valid and  binding  upon  the
  parties thereto, and the court shall nevertheless enter upon and make or
  proceed  with  its  estimate,  and tentative and final decrees as to the
  residue of such real property affected by the closing, concerning  which
  the owners thereof shall not agree.
    c.  The final decree of the court shall be of like force and effect in
  regard to the matters comprised therein, as if no such agreement  as  to
  the part of the premises had been made.