NY Educ L § 6219 (2021)
2021 New York Laws EDN - Education Title 7 - State and City Colleges and Institutions-Cornell University Article 125 - City University of New York 6219 - Conveyance of Property.

§ 6219. Conveyance  of property.   1. a. The city of New York shall on   or before January first,  nineteen  hundred  eighty,  by  resolution  or   resolutions  of  the  board  of  estimate of such city or by instruments   authorized by such resolutions, convey to the  state  of  New  York  all   right,  title  and  interest  to all real property owned by the city and   used by such university for senior college purposes notwithstanding  the   provisions of any general, special or local law, or code or charter.b.  All  such  conveyances shall contain a provision that if such real   property ceases to be used for such  purpose,  title  to  such  property   shall revert to the city of New York, provided, however, that until such   time as the city university delivers the notice referred to in paragraph   c  of this subdivision with respect to any parcel of such real property,   such parcel shall be deemed to  be  used  for  senior  college  purposes   notwithstanding  any  change  in  character, use or occupancy consistent   with such purposes subsequent to  the  conveyance  thereof  pursuant  to   paragraph a of this subdivision.  Notwithstanding the reverter contained   in  the  foregoing  sentence,  on  the  request  of  the city university   construction fund, the commissioner of general services of the state  of   New  York  may, for the purposes of dormitory authority financing of any   facility conveyed by the city of New York pursuant  to  paragraph  a  of   this  subdivision,  sell,  convey,  lease  or exchange or otherwise make   available to the dormitory authority, for a  nominal  consideration  any   such  property,  subject  to  the  provision  that  if  title  shall  be   reconveyed  to  the  state  of  New  York  by  the  dormitory  authority   subsequent  to  satisfaction  of  indebtedness incurred by the dormitory   authority to finance improvements on such property, such property shall,   subject to paragraph c of this subdivision, again become subject to  the   provisions  of  the  first sentence of this paragraph. The conveyance to   the dormitory authority shall be free of the reverter  provided  for  in   the first sentence of this paragraph.c.  If  any property which is subject to the reverter contained in the   first sentence of paragraph b of this subdivision ceases to be used  for   senior   college   purposes,   the  city  university  shall  notify  the   commissioner of general services of  the  state  of  New  York  and  the   director  of management and budget of the city of New York in writing of   such event within sixty  days.  Upon  the  giving  of  such  notice  the   reverter  contained  in  the  first  sentence  of  paragraph  b  of this   subdivision shall become effective and the state shall provide the  city   with a duly executed deed in recordable form.d.  If  the  city  shall  (i)  use  property  so  deeded  to  it  with   improvements wholly paid for by the state  or  (ii)  sell  or  otherwise   dispose of property so deeded to it with improvements wholly paid for by   the  state,  then,  within  thirty  days after the beginning of the city   fiscal year immediately following such conveyance, the city shall pay to   the state an amount  equal  to  the  current  appraised  value  of  such   improvements in such property.e.  The commissioner of general services of the state of New York may,   on the request of the city university construction fund for the purposes   of dormitory authority financing of the portion  of  the  Staten  Island   Developmental  Center  which is to be used by city university for senior   college  purposes  exclusively,  sell,  convey,  lease  or  exchange  or   otherwise  make  available  to the dormitory authority such state lands,   situate within the county of Richmond, the city of New York,  upon  such   terms and conditions including consideration as the commissioner may fix   and determine with the approval of the director of the budget.  However,   in  the  event  that  all  or  any  part  of such property should not be   utilized for senior college purposes  exclusively,  such  property  will   revert back to the state of New York. 2.  Real  property being used on the effective date of this article or   to be used by the city university for senior college purposes  which  is   encumbered  by bonds, mortgages or similar debt instruments and title to   which is held by an agency of the state subject to  the  provision  that   such  title  shall  be  conveyed  to  the city of New York by such state   agency when such outstanding indebtedness has been satisfied, shall upon   being so conveyed to such city by such agency thereupon  be  re-conveyed   by such city to the state of New York.3. Notwithstanding any other provisions of law, the provisions of this   section shall apply to Medgar Evers college.