NY S07694

Authorizes the New York State Thruway Authority to transfer a parcel of land (not to exceed five acres) in Canastota, Madison County to the Madison County Industrial Development Agency for economic development and job creation purposes.

Transfer must occur within 60 days of notice from the industrial development agency, with the agency assuming responsibility for redevelopment activities and site ownership.

The Madison County Industrial Development Agency must adopt comprehensive procurement guidelines that meet the standards established in section 104-b of the general municipal law.

If the land is not developed within five years of transfer in accordance with the stated purposes, title and any improvements revert to the New York State Thruway Authority.

The act takes effect on the same date as related legislation (bills S.7575 and A.10590) authorizing conveyance of additional Thruway Authority land in the same location.