N.Y. General Municipal Law § 970-f: Redevelopment plan

§ 970-f. Redevelopment plan. If the legislative body, by resolution,

approves a preliminary plan it shall provide for preparation of a

redevelopment plan for each project area.

Each such redevelopment plan:

(a) shall contain a legal description of the boundaries of the project

area and shall be based upon the preliminary plan;

(b) shall show by diagram and in general terms:

(i) the approximate amount of open space to be provided and street

layout;

(ii) limitations on type, size, height, number and proposed use of

buildings;

(iii) the approximate number of dwelling units; and

(iv) the property to be devoted to public purposes and the nature of

such purposes;

(c) shall contain a neighborhood impact statement, which describes the

physical, social and economic conditions existing in the area and

describes the impact of the project upon the residents of the project

area and the surrounding areas, in terms of relocation, traffic

circulation, environmental quality, availability of community facilities

and services, effect on school population and quality of education,

property assessments and taxes, and other matters affecting the physical

and social quality of the neighborhood;

(d) shall describe the proposed method of financing the redevelopment

of the project area in detail sufficient to determine the economic

feasibility of the plan;

(e) shall provide for the municipality to lease or sell all real

property acquired by it in any project area, except property retained by

the municipality for public purposes as provided by the redevelopment

plan;

(f) shall contain adequate safeguards that the work of redevelopment

will be carried out pursuant to the plan and provide for the retention

of controls and the establishment of any restrictions or convenants

running with land sold or leased for private use for such periods of

time and under such conditions as the legislative body deems necessary

to effectuate the purposes of this article;

(g) shall contain other covenants, conditions, and restrictions which

the legislative body prescribes;

(h) may provide for participation in the redevelopment of property in

the project area by the owners of all or part of such property if the

owners agree to participate in the redevelopment in conformity with the

redevelopment plan adopted by the legislative body for the area. Such

plan may extend reasonable preference to persons who are engaged in

business in the project area to reenter in business within the

redeveloped area if they otherwise meet the requirements prescribed by

the redevelopment plan. Every redevelopment plan which contemplates

property owner participation in the redevelopment of the project area

shall contain alternative provisions for redevelopment of the property

if the owners fail to participate in the redevelopment as agreed;

(i) may provide for the issuance of bonds by the municipality and for

the use of the proceeds from their sale in carrying out the

redevelopment plan. If such an issuance is provided for, the

redevelopment plan shall also contain adequate provision for the payment

of principal and interest when they become due and payable;

(j) may provide for the municipality to acquire by gift, purchase,

lease, or condemnation all or part of the real property in the project

area;

(k) may provide for the expenditure of money by the municipality and

for the municipality to undertake and complete any proceedings necessary

to carry out the project;

(l) shall provide a limitation on the amount of bonds which may be

issued pursuant to section nine hundred seventy-o of this article for

the purpose of carrying out or administering the redevelopment plan;

(m) may provide in any year during which the municipality owns real

property in a redevelopment project for the payment to any city, county,

town, village or district for whose benefit a tax would have been levied

upon such property had it not been exempt, an amount of money in lieu of

taxes;

(n) shall provide a plan for the relocation of families and persons to

be temporarily or permanently displaced from housing facilities in the

project area, which plan shall include the provision required by section

nine hundred seventy-j of this article that no person or family of low

and moderate income shall be displaced unless and until there is

suitable housing available and ready for occupancy by such displaced

person or family at rents comparable to those paid at the time of their

displacement;

(o) shall also provide for the review of such preliminary plans by the

board of education of any school district in the project area for which

the municipality seeks to incorporate the real property taxes levied by

such school district pursuant to section nine hundred seventy-p of this

article.