2023 New York Laws › ACA - Arts and Cultural Affairs › Title E - New York State Cultural Resources Act › Article 20 - New York State Cultural Resources Act › 20.13 - Special Powers of a Trust.

§  20.13.  Special  powers  of  a  trust.   1. A trust shall have such
  special  powers  with  respect  to  assisting   participating   cultural
  institutions  or  other  not-for-profit  cultural  organizations  as are
  provided by special law; provided, that a trust may not develop or cause
  to be developed a combined-use  facility  for  use  or  occupancy  by  a
  participating  cultural  institution  unless  (i) in a municipality such
  institution shall have had average annual admissions of  at  least  five
  hundred thousand persons as shown on the records of such institution for
  a  period  of  at least five years prior to either the effective date of
  this article or the date on which a trust first enters into an agreement
  for the development of a combined-use facility for the use or  occupancy
  by  such  institution, (ii) in a city having a population of one hundred
  twenty-five thousand or more, such institution shall  have  had  average
  annual  admissions  of  at  least fifty thousand persons as shown on the
  records of such institution for such period and (iii) in any other city,
  such institution shall have such minimum average  annual  admissions  as
  are  set  forth  in the special law creating a trust; provided, however,
  with respect to a participating cultural institution that  is  a  public
  television  station  with  respect to which a trust entered an agreement
  prior to January first, nineteen hundred ninety the foregoing shall  not
  apply and provided further that the decision of the trust in determining
  such average annual admissions shall be final.
2.  A  trust  may  not  acquire  real property by condemnation, unless
  otherwise provided by special law.
3. For so long as any real property, consisting of all or any part  of
  the  non-institutional  portion  of  a combined-use facility or in or on
  which all or any part of such portion prior to completion is designed to
  be and upon completion is developed shall be exempt from  real  property
  taxation pursuant to section 20.33 of this article, the owners from time
  to time of such real property shall pay to the trust which has developed
  or  approved  the  developer  of such facility, annual or other periodic
  amounts, as  tax-equivalency  payments,  at  least  equal  to  the  real
  property taxes that would have otherwise been paid or payable in respect
  of  such real property; provided, however, that the special law creating
  a trust may provide a method for calculating such  real  property  taxes
  for purposes of determining the amount of such tax-equivalency payments;
  and provided further that the special law creating a trust shall specify
  the   purposes   for   which   the   trust  shall  use  or  expend  such
  tax-equivalency payments, the means for enforcing such payments and  the
  priorities in favor of a trust in connection with such enforcement.
4.  A  trust and the participating cultural institution with which the
  trust  has  entered  into  an  agreement  for  the  development   of   a
  combined-use  facility,  any  facility  for  a  not-for-profit  cultural
  organization or a public television facility  prior  to  January  first,
  nineteen  hundred  ninety shall each have all rights provided by law, as
  if each were the owner of such facility and the real property in  or  on
  which  such  facility  is  or is designed to be developed, to contest in
  whole or in part any assessment or revised assessment of  the  value  of
  such facility and property, or any portion thereof, by appropriate legal
  proceedings,  and  for  purposes of this subdivision four, each shall be
  deemed  to  be  a  person  aggrieved.  Each  owner  required   to   make
  tax-equivalency  payments  to  a trust shall have all rights provided by
  law, as if he were the owner of the real property with respect to  which
  he is required to make such payments, to contest in whole or in part any
  assessment or revised assessment of the value of such real property, and
  each such owner shall be deemed to be a person aggrieved for purposes of
  this subdivision.
5.  Subject  to  any  agreement  with holders of its notes or bonds, a
  trust may enter into an agreement to pay or cause to be paid,  by  means
  which may include an agreement with a participating cultural institution
  in  a municipality or a not-for-profit cultural institution in a county,
  a  developer  or  an  owner,  annual  sums  in  lieu  of  taxes  to  any
  municipality or political subdivision of the state, in  respect  of  any
  real property which is exempt from taxation pursuant to section 20.33 of
  this   article   and  is  located  in  such  municipality  or  political
  subdivision, or the special law creating a trust may  provide  for  such
  payments in lieu of taxes.