NY A09993

Authorizes the City of Troy to lease subsurface lands at Riverfront Park for up to 30 years at fair market value for district geothermal wells and distribution lines, notwithstanding General City Law section 20.

Requires the City of Troy to restore the land surface for parkland use upon completion of subsurface equipment installation.

Mandates that lease proceeds be dedicated toward acquiring new parklands and/or funding capital improvements to existing park and recreational facilities.

Specifies that if the leased lands cease to be used for geothermal purposes, the lease terminates, lands revert to the city for public park use, and equipment must be removed with the property restored to its previous state.

Requires the City of Troy to comply with federal requirements and obtain approval from the Secretary of the Interior if the parklands received federal funding for purchase, maintenance, or improvement.