NY S09063

Authorizes the City of Niagara Falls to discontinue use as parkland and convey property interests in the "Ten Rod Strip" (1.77 acres) to The Papermill, LLC to allow development of adjacent commercial properties.

Requires the City to dedicate funds equal to or greater than the fair market value of the alienated parklands toward acquisition of new parklands and/or capital improvements to existing park and recreational facilities.

Prohibits discontinuance and alienation of the parklands until the City complies with all federal requirements, including obtaining approval from the Secretary of the Interior that replacement lands are equivalent in fair market value and usefulness.

The parcel is located in Niagara Falls between Buffalo Avenue and Tenth Street, bounded by lands appropriated by the Power Authority of the State of New York for the Niagara Power Project.

Takes effect immediately upon enactment.