State Codes and Statutes

Statutes > New-york > Env > Article-15 > Title-17 > 15-1741

§ 15-1741. Re-entry at expiration of the license period.    1.  Upon  the  expiration  of  the original license period any and all  interest of the licensee in and to state property which  is  covered  by  the  license,  together  with  any and all works and structures thereon,  shall vest in and become the property of the state free and clear of any  and all liens and encumbrances, provided, however, that  the  department  may  at the time the license is granted, or at any later time during its  continuance, enter into an agreement with the licensee that an allowance  will be made to the licensee for  and  on  account  of  improvements  to  property  of  the state, or improvements the value of which is dependent  on the use of state property, for which in view of  the  rent  paid  the  licensee  shall  not  have  been  compensated  by  the  privilege of the  license, but such agreement must be  made  before  the  improvement  for  which such allowance is to be made, is undertaken. If the amount of such  allowance  exceeds  the  amount  of  indebtedness, which may be lawfully  incurred for such purposes without an appropriation, the time when  such  property  is  vested  in  the state shall be postponed until an adequate  appropriation is made therefor. The allowance so made or to be made  may  be  by  way  of  an  extension  of  the license pursuant to an agreement  between the department and the licensee.    2. Any agreement with the licensee for  an  allowance  on  account  of  improvements to property of the state or improvements the value of which  is  dependent  on  the  use  of state property, shall not provide for an  allowance in excess of the reconstruction cost, less a  deduction  equal  to  that portion, if any, of the aggregate income from the project, over  and  above  actual  and  reasonable  expenses  of  operation,  including  repairs,  which  shall  exceed  an  amount equal to eight per centum per  annum, to the time that the state property is taken over by  the  state,  of  the  actual  and  reasonable  cost  to the licensee of the lands and  interests in lands, the actual and reasonable cost to  the  licensee  of  the  ways,  means and works and the allowances made for organization and  development expenses.

State Codes and Statutes

Statutes > New-york > Env > Article-15 > Title-17 > 15-1741

§ 15-1741. Re-entry at expiration of the license period.    1.  Upon  the  expiration  of  the original license period any and all  interest of the licensee in and to state property which  is  covered  by  the  license,  together  with  any and all works and structures thereon,  shall vest in and become the property of the state free and clear of any  and all liens and encumbrances, provided, however, that  the  department  may  at the time the license is granted, or at any later time during its  continuance, enter into an agreement with the licensee that an allowance  will be made to the licensee for  and  on  account  of  improvements  to  property  of  the state, or improvements the value of which is dependent  on the use of state property, for which in view of  the  rent  paid  the  licensee  shall  not  have  been  compensated  by  the  privilege of the  license, but such agreement must be  made  before  the  improvement  for  which such allowance is to be made, is undertaken. If the amount of such  allowance  exceeds  the  amount  of  indebtedness, which may be lawfully  incurred for such purposes without an appropriation, the time when  such  property  is  vested  in  the state shall be postponed until an adequate  appropriation is made therefor. The allowance so made or to be made  may  be  by  way  of  an  extension  of  the license pursuant to an agreement  between the department and the licensee.    2. Any agreement with the licensee for  an  allowance  on  account  of  improvements to property of the state or improvements the value of which  is  dependent  on  the  use  of state property, shall not provide for an  allowance in excess of the reconstruction cost, less a  deduction  equal  to  that portion, if any, of the aggregate income from the project, over  and  above  actual  and  reasonable  expenses  of  operation,  including  repairs,  which  shall  exceed  an  amount equal to eight per centum per  annum, to the time that the state property is taken over by  the  state,  of  the  actual  and  reasonable  cost  to the licensee of the lands and  interests in lands, the actual and reasonable cost to  the  licensee  of  the  ways,  means and works and the allowances made for organization and  development expenses.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Env > Article-15 > Title-17 > 15-1741

§ 15-1741. Re-entry at expiration of the license period.    1.  Upon  the  expiration  of  the original license period any and all  interest of the licensee in and to state property which  is  covered  by  the  license,  together  with  any and all works and structures thereon,  shall vest in and become the property of the state free and clear of any  and all liens and encumbrances, provided, however, that  the  department  may  at the time the license is granted, or at any later time during its  continuance, enter into an agreement with the licensee that an allowance  will be made to the licensee for  and  on  account  of  improvements  to  property  of  the state, or improvements the value of which is dependent  on the use of state property, for which in view of  the  rent  paid  the  licensee  shall  not  have  been  compensated  by  the  privilege of the  license, but such agreement must be  made  before  the  improvement  for  which such allowance is to be made, is undertaken. If the amount of such  allowance  exceeds  the  amount  of  indebtedness, which may be lawfully  incurred for such purposes without an appropriation, the time when  such  property  is  vested  in  the state shall be postponed until an adequate  appropriation is made therefor. The allowance so made or to be made  may  be  by  way  of  an  extension  of  the license pursuant to an agreement  between the department and the licensee.    2. Any agreement with the licensee for  an  allowance  on  account  of  improvements to property of the state or improvements the value of which  is  dependent  on  the  use  of state property, shall not provide for an  allowance in excess of the reconstruction cost, less a  deduction  equal  to  that portion, if any, of the aggregate income from the project, over  and  above  actual  and  reasonable  expenses  of  operation,  including  repairs,  which  shall  exceed  an  amount equal to eight per centum per  annum, to the time that the state property is taken over by  the  state,  of  the  actual  and  reasonable  cost  to the licensee of the lands and  interests in lands, the actual and reasonable cost to  the  licensee  of  the  ways,  means and works and the allowances made for organization and  development expenses.

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