There is a newer version of the New York Consolidated Laws
2006 New York Code - Sale And Lease Of Acquired Excess Lands.
§ 5-350 Sale and lease of acquired excess lands. a. After title to the real property required for the improvement, and to the additional lands, shall have vested in the city, the additional lands may be either held and used by the city, or sold or leased in the manner provided by the charter as long as consistent with the provisions of section four hundred six of the eminent domain procedure law. The board of estimate may provide that such additional lands shall be sold or leased subject to such restrictions, covenants or conditions as to location of buildings with reference to the real property acquired for the improvement, or the height of buildings or structures, or the character of construction and architecture thereof, or such other covenants, conditions or restrictions as it may deem proper. Such additional lands shall be sold or leased subject to such restrictions, covenants or conditions, if any, as the board of estimate may have prescribed, which shall be set forth in the instrument of conveyance or lease. b. Nothing in subdivision b of section three hundred eighty-four of the charter limiting the term of leases by the city to a different period shall apply to a lease by the city, acting through the board of estimate, of such additional real property for housing purposes, including stores on the street level.
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