NY S07121

Authorizes New York City to discontinue parkland use and lease approximately 77 acres in Flushing Meadows Corona Park in Queens to Queens Future, LLC for development of a gaming facility with commercial, retail, entertainment, hotel, convention, and community uses

Requires NYC to dedicate fair market value of the discontinued parkland toward acquiring new parklands or making capital improvements to existing parks and recreational facilities within Queens

Mandates construction of at least 20 acres of parkland within or adjacent to the development site, including a north-south pedestrian connection from the passerelle bridge to Boat Basin Place

Parklands revert to NYC Parks Department if gaming facility construction does not commence within 15 years or if the land is used for purposes other than those specified in the act

Does not preempt state gaming law requirements or NYC's Uniform Land Use Review Procedure (ULURP) approval process