NY S07550

Authorizes the Village of Deferiet in Jefferson County to discontinue use of municipally owned parkland and alienate the property, subject to conditions set by the village legislature

Specifies the property as approximately 5.446 acres located at the intersection of Wilna Avenue and NYS Route 3A, subject to a Niagara Mohawk Power Corporation easement established in 1959

Requires the Village of Deferiet to dedicate funds equal to or greater than the fair market value of the alienated property toward acquiring additional parklands or making capital improvements to existing park and recreational facilities

Exempts from the dedication requirement any portion of the property partitioned and dedicated to municipal purposes, including construction of a water tower and/or development of new water infrastructure

Takes effect immediately upon enactment