NY S01970

New York State Canal Corporation may sell or lease canal lands and personal property to federal agencies, state agencies, public benefit corporations, municipalities, and other political subdivisions for less than fair market value when determined to be in the public interest.

Canal Corporation must consider whether sales or leases will improve public access to canal lands, canal waters, or other public lands when determining public interest.

Removes requirement for property appraisals when selling or leasing canal lands or personal property under this provision.

Lease terms are limited to a maximum of 40 years, with renewals not to exceed an additional 40 years.

Sales and leases under this provision are exempt from public advertising requirements.