2023 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.