N.Y. Private Housing Finance Law § 217: Temporary use or occupation of real property taken by acquisition

§ 217. Temporary use or occupation of real property taken by

acquisition. When title to real property has vested in a redevelopment

corporation or city by gift, grant, devise, purchase or in acquisition

proceedings or otherwise, the redevelopment corporation or city, as the

case may be, may in accordance with the provisions of the eminent domain

procedure law agree with the previous owners of such property, or any

tenants continuing to occupy or use it, or any other persons who may

occupy or use or seek to occupy or use such property, that such former

owner, tenant or other persons may occupy or use such property upon the

payment of a fixed sum of money for a definite term or upon the payment

periodically of an agreed sum of money.

In the event that a city has acquired real property for a

redevelopment corporation, the city shall, in transferring title to the

redevelopment corporation, deduct from the consideration or other moneys

which the redevelopment corporation has become obligated to pay to the

city for such purpose, and credit the redevelopment corporation with,

the amounts received by the city as payment for temporary occupation and

use of the real property by a former owner, tenant, or other person, as

in this section two hundred seventeen provided, less the cost and

expense incurred by the city for the maintenance and operation of such

real property.