NY S09021

Amends New York City Administrative Code to make demolition costs a lien on residential property, similar to taxes and water rents.

Limits demolition cost charges to property owners to no more than 25 percent of their insurance settlement when a residential building is demolished following an arson-related fire.

Exempts demolition cost billing if the arson was committed by the legal property owner or an occupant of the residential property.

Prohibits the city from selling demolition cost liens as tax liens for one to three-family residential properties for 10 years, and allows owners to cure back taxes and other liens interest-free within a 10-year period if a 20-year demolition lien exists.

Requires the Commissioner of Buildings to transmit all demolition cost accounts to the Commissioner of Finance as costs accrue.