1612 – Public Records and Public Meetings.
§ 1612. Public records and public meetings. (a) The board shall cause minutes and a record to be kept of all its proceedings. Except as otherwise provided in this section, the land bank shall be subject to the open meetings law and the freedom of information law. (b) A land bank shall hold a public […]
1613 – Dissolution of Land Bank.
§ 1613. Dissolution of land bank. A land bank may be dissolved as a charitable not-for-profit corporation sixty calendar days after an affirmative resolution approved by two-thirds of the membership of the board of directors. Sixty calendar days advance written notice of consideration of a resolution of dissolution shall be given to the foreclosing governmental […]
1614 – Conflicts of Interest.
§ 1614. Conflicts of interest. No member of the board or employee of a land bank shall acquire any interest, direct or indirect, in real property of the land bank, in any real property to be acquired by the land bank, or in any real property to be acquired from the land bank. No member […]
1615 – Construction, Intent and Scope.
§ 1615. Construction, intent and scope. The provisions of this article shall be construed liberally to effectuate the legislative intent and the purposes as complete and independent authorization for the performance of each and every act and thing authorized by this article, and all powers granted shall be broadly interpreted to effectuate the intent and […]
1616 – Delinquent Property Tax Enforcement.
§ 1616. Delinquent property tax enforcement. The municipality may enter into a contract to sell some or all of the delinquent tax liens held by it to a land bank, subject to the following conditions: (a) The consideration to be paid may be more or less than the face amount of the tax liens sold. […]
1617 – Contracts.
§ 1617. Contracts. (a) The land bank may, in its discretion, assign contracts for supervision and coordination to the successful bidder for any subdivision of work for which the land bank receives bids. Any construction, demolition, renovation and reconstruction contract awarded by the land bank shall contain such other terms and conditions as the land […]
1602 – Definitions.
§ 1602. Definitions. The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise: (a) “board of directors” or “board” shall mean the board of directors of a land bank; (b) “land bank” shall mean a land bank established as […]
1603 – Creation and Existence.
§ 1603. Creation and existence. (a) Any foreclosing governmental unit may create a land bank by the adoption of a local law, ordinance, or resolution as appropriate to such foreclosing governmental unit which action specifies the following: (1) the name of the land bank; (2) the number of members of the board of directors, which […]
1604 – Applicability of New York Law.
§ 1604. Applicability of New York law. This article shall apply only to land banks created pursuant to this article.
1605 – Board of Directors.
§ 1605. Board of directors. (a) (1) The initial size of the board shall be determined in accordance with section sixteen hundred three of this article. Unless restricted by the actions or agreements specified in section sixteen hundred three of this article, the provisions of this section shall apply. (2) The size of the board […]