N.Y. Private Housing Finance Law § 258: Transfer of real property

§ 258. Transfer of real property. 1. Notwithstanding any requirement

of law to the contrary or any provision of any general, special or local

law, charter or ordinance, every executor, administrator, trustee,

guardian or other person holding trust funds or acting in a fiduciary

capacity, unless the instrument under which such fiduciary is acting

expressly forbids, and the state, its subdivisions, municipalities, all

other public bodies, all public officers, persons, partnerships and

corporations owning or holding any real property, may grant, sell, lease

or otherwise transfer any such real property or interest therein to a

community development corporation and receive and hold any cash, bonds,

notes, mortgages or other securities or obligations, secured or

unsecured, exchanged therefor by such corporation and may execute such

instruments and do such acts as may be deemed necessary or desirable by

them or it and by the corporation in connection with a project or

projects, and such sale, lease or transfer may be made without public

auction or bidding; provided, however, that where such real property is

within a municipal urban renewal area the disposition thereof shall be

in accordance with the provisions of paragraph (d) of subdivision two of

section five hundred seven of the general municipal law.

2. The municipality may take property by condemnation for a community

development corporation pursuant to the provisions of article nine of

this chapter and transfer the same to such corporation as provided in

subdivision one of this section.