N.Y. State Law § 59-b: Purchase or acquisition of lands; payment of purchase price

§ 59-b. Purchase or acquisition of lands; payment of purchase price.

The commission shall cause an appraisal to be made of just compensation

to the owners of the lands and the structures and waters thereon,

appropriated by the state as hereinbefore provided, and of the estates

and interests therein of all persons, corporations or municipalities.

The commission shall negotiate with the owners of such property for the

purchase thereof, but in no case shall an amount greater than the

appraised compensation for such property be paid. The commission and

the persons, corporations and municipalities whose property has been

appropriated and who have agreed upon a compensation to be paid

therefor, shall enter into an agreement for the conveyance or transfer

of the property appropriated and for the payment of the compensation to

be paid, which shall be executed by the commission and the said owners.

Such agreement shall be filed in the office of the comptroller. If the

commission is unable to agree as to the compensation to be paid for such

lands and the structures and waters thereon, the court of claims shall

have jurisdiction to determine the amount of such compensation, and upon

proceedings being brought before such court as provided by law, an award

shall be made of compensation for the lands, structures and waters or

interests therein so appropriated.

The persons, corporations or municipalities whose property has been

taken under the provisions of this article, and who have agreed upon the

compensation to be paid therefor or to whom an award of compensation has

been made by the court of claims, shall be entitled to interest from the

time of the actual occupancy thereof by the state to the date of the

payment of the said compensation; but such interest shall cease upon the

service by the comptroller upon the person, corporation or municipality

entitled thereto of a notice that the state is ready and willing to pay

the amount of such compensation upon the presentation of proper proof

and vouchers.