2006 New York Code - Leasing Of School Property.

 
    § 403-a. Leasing  of  school  property.   1. The board of education or
  trustees  of  a  school  district  are  hereby  authorized  to  adopt  a
  resolution providing that specific real property of such district is not
  currently  needed  for  school district purposes and that the leasing of
  such real property is in the best interest of the school  district.  The
  terms of such lease shall be subject to the following:
    (a)  The  rental payment shall not be less than the fair market rental
  value as determined by the board of education.
    (b) The term of the lease shall not exceed ten years.
    (c) Upon termination, the lessee shall be  obligated  to  restore  the
  real  property  to  its  original  condition less ordinary depreciation,
  provided that the school district may  waive  such  requirement  if  the
  tenant  has  made  improvements  to  such real property which may not be
  removed without causing substantial damage to such real property.
    2. Upon the consent of the commissioner, renewal of  a  lease  may  be
  made for a period of up to ten years.
    3.  The board of education or trustees of a school district are hereby
  authorized to lease real property upon such terms and conditions as  the
  board  of  education  or  trustees  may  deem appropriate to any person,
  partnership or corporation such board of  education  or  trustees  shall
  have determined who will provide the most benefit to the school district
  for periods not to exceed ten years. Such leases may also be renewed for
  a period of up to ten years upon the consent of the commissioner.
    4.  Upon  termination  of  the  lease,  if  the school district incurs
  expenses in restoring the real property to  school  use,  such  expenses
  shall  not  be included in computing any apportionment or state building
  aid to such district.
    5. Notwithstanding the provisions of paragraph (b) of subdivision  one
  hereof  the  board  of  education  or  trustees of a school district are
  hereby authorized to enter into a lease agreement in accordance with the
  provisions of this section for a period in excess of ten years  subject,
  however, to voter approval by referendum.
    6.  Nothing  contained  herein shall prevent the board of education or
  trustees of a school district from entering into a lease agreement which
  provides for the cancellation of the same  by  such  board  or  trustees
  upon:
    (a) a substantial increase or decrease in pupil enrollment; or
    (b)  a  substantial  change  in the needs and requirements of a school
  district with respect to facilities; or
    (c)  any  other  change  which  substantially  affects  the  needs  or
  requirements  of  a  school  district  or  the  community in which it is
  located.