NY A08373

Authorizes the town of Cortlandville in Cortland County to discontinue 0.03 acres of parkland and lease it at fair market value to Park Outdoor Advertising of New York, Inc. for up to 10 years for an electronic sign

Retroactively validates and legalizes the town's prior lease of this parkland to the advertising company, which occurred without required state authorization

Requires all lease proceeds to be dedicated to acquiring new parklands or making capital improvements to existing park and recreational facilities

Mandates that if the land ceases to be used for the electronic sign, the lease terminates, the land reverts to park use, and the sign must be removed with the property restored to its previous condition

Prohibits the parkland discontinuance until the town complies with any federal requirements if the parkland received federal funding, including obtaining approval from the Secretary of the Interior