2012 New York Consolidated Laws
PVH - Private Housing Finance
Article 9 - (500 - 508) ACQUISITION OF PROPERTY
502 - Condemnation of excess property.

 
    §  502.  Condemnation  of  excess  property.  A  municipality may take
  private property for a limited-profit housing  company  by  condemnation
  for  the  purpose  of  providing  low  rent  housing for families of low
  income,  or  for   the   clearance,   replanning,   reconstruction   and
  rehabilitation  of  areas,  or  for  both  of  such  purposes,  and  for
  recreational and other facilities incidental or appurtenant thereto, but
  in excess of that required for public use after such purposes shall have
  been accomplished. A municipality or a  limited-profit  housing  company
  may  improve  and  utilize such excess property wholly or partly for any
  other public purpose, or may lease or sell  such  excess  property  with
  restrictions   to   preserve   and  protect  the  project  or  projects.
  Proceedings to acquire such  excess  property  may  be  brought  by  the
  municipality  for a limited-profit housing company in the same manner as
  for the real property required for the project and may  be  included  in
  the  proceedings  for  the acquisition of real property required for the
  project.