Creates a land bank in a city with eight million or more residents by adoption of a local law by the city council; limits board membership to eleven members.
Summary
Bill S03703 amends the not-for-profit corporation law to allow cities with a population of eight million or more residents to create a land bank through the adoption of a local law by the city council. This legislation specifies that the board of directors for the land bank must consist of an odd number of members, with a minimum of five and a maximum of eleven members. The intent of the bill is to provide a framework for cities to manage and repurpose vacant, abandoned, or foreclosed properties effectively through the establishment of a land bank.
Impact
The passage of this bill would enable large cities, specifically those with populations exceeding eight million, to establish land banks, which could streamline the process of acquiring and managing properties that are in foreclosure or otherwise abandoned. This could lead to improved urban development and revitalization efforts, as land banks can facilitate the sale or transfer of properties to responsible parties for redevelopment. The amendment to the not-for-profit corporation law would also standardize the governance structure of these land banks by limiting the board size, potentially making decision-making more efficient.
Sentiment
The sentiment surrounding Bill S03703 appears to be generally supportive, particularly among urban planners and local government officials who see the potential benefits of land banks in addressing housing and urban decay issues. However, there may be concerns regarding the governance structure and the effectiveness of land banks in achieving their intended goals, which could lead to some opposition from stakeholders wary of bureaucratic inefficiencies.
Contention
Notable points of contention may arise regarding the size and composition of the board of directors for the land bank, as limiting the membership to eleven members could be seen as either a positive move towards efficiency or a restriction that may hinder diverse representation. Additionally, there may be differing opinions on the effectiveness of land banks in addressing urban issues, with some advocating for alternative solutions to property management and redevelopment.
Creates a land bank in a city with eight million or more residents by adoption of a local law by the city council; limits board membership to eleven members.
Amends existing law to provide that cities with 25,000 residents or less may provide for election of councilmen by districts and that cities with greater than 25,000 residents shall provide for the election of councilmen by districts.
Relates to the powers and duties of the citizens advisory committee of the MTA and membership on the Long Island Rail Road commuter council, the Metro-North railroad commuter council, and the New York city transit riders council; provides such committee with access to certain information.
Relates to the powers and duties of the citizens advisory committee of the MTA and membership on the Long Island Rail Road commuter council, the Metro-North railroad commuter council, and the New York city transit riders council; provides such committee with access to certain information.
Amends existing law to provide that cities with 25,000 residents or less may provide for election of councilmen by districts and that cities with greater than 25,000 residents shall provide for the election of councilmen by districts.