State Codes and Statutes

Statutes > New-york > Twn > Article-4 > 64-h

§  64-h.  Town  of  Red  Hook  preservation  funds. 1. As used in this  section,  the  following  words  and  terms  shall  have  the  following  meanings:    (a) "Town" means the town of Red Hook.    (b)  "Community  preservation"  shall  mean  and  include  any  of the  purposes outlined in subdivision five of this section.    (c) "Board" means the advisory board required pursuant to  subdivision  six of this section.    (d)  "Fund"  means the community preservation fund created pursuant to  subdivision two of this section.    (e) "Tax" shall mean the real estate transfer tax imposed pursuant  to  section  fourteen  hundred  thirty-eight-b  of  the  tax  law or, if the  context clearly indicates, shall  mean  the  real  estate  transfer  tax  imposed pursuant to article thirty-one of the tax law.    2.  The  town board of the town of Red Hook is authorized to establish  by local law a community preservation fund pursuant to the provisions of  this section. Deposits into the fund may include revenues of  the  local  government  from  whatever  source  and shall include, at a minimum, all  revenues from a tax imposed upon the transfer of real property interests  in such town pursuant to article thirty-one-A-1 of the tax law. The fund  shall also be authorized to accept gifts of any such interests  in  land  or of funds. Interest accrued by monies deposited into the fund shall be  credited  to the fund. In no event shall monies deposited in the fund be  transferred to any other account.  Nothing  contained  in  this  section  shall  be  construed  to  prevent  the  financing  in  whole or in part,  pursuant to  the  local  finance  law,  of  any  acquisition  authorized  pursuant  to this section. Monies from the fund may be utilized to repay  any indebtedness or obligations incurred pursuant to the  local  finance  law consistent with effectuating the purposes of this section.    3.  The  purposes of the fund shall be exclusively, (a) to implement a  plan for the preservation of community character  as  required  by  this  section,  (b)  to  acquire  interests or rights in real property for the  preservation of community character within the town  including  villages  therein  in  accordance  with  such plan and in cooperation with willing  sellers, (c) to establish a bank pursuant to a transfer  of  development  rights  program  consistent with section two hundred sixty-one-a of this  chapter, and (d) to provide a management  and  stewardship  program  for  such  interests  and  rights  consistent  with  subdivision  ten of this  section and in accordance with such plan designed to preserve  community  character.  Not  more than ten percent of the fund shall be utilized for  the management and stewardship program.    4. If the implementation of the community preservation  project  plan,  adopted  by  the  town  board,  as provided in subdivision seven of this  section, has been completed, and funds are  no  longer  needed  for  the  purposes  outlined in this subdivision, then any remaining monies in the  fund shall be applied to reduce any bonded indebtedness  or  obligations  incurred to effectuate the purposes of this section.    5.  Preservation  of  community character shall involve one or more of  the following:    (a) preservation of open space;    (b) establishment of parks, nature preserves, or recreation areas;    (c) preservation of land which is  predominantly  viable  agricultural  land,  as  defined  in subdivision seven of section three hundred one of  the  agriculture  and  markets  law,   or   unique   and   irreplaceable  agricultural  land,  as  defined  in  subdivision  six  of section three  hundred one of the agriculture and markets law;    (d) preservation of lands of exceptional scenic value;    (e) preservation of fresh and saltwater marshes or other wetlands;(f) preservation of aquifer recharge areas;    (g) preservation of undeveloped beach-lands or shoreline;    (h)  establishment  of wildlife refuges for the purpose of maintaining  native animal species diversity, including  the  protection  of  habitat  essential to the recovery of rare, threatened or endangered species;    (i) preservation of unique or threatened ecological areas;    (j)  preservation of rivers and river areas in a natural, free-flowing  condition;    (k) preservation of forested land;    (l) preservation of public access to lands for  public  use  including  stream rights and waterways;    (m)  preservation  of historic places and properties listed on the New  York  state  register  of  historic  places  and/or  protected  under  a  municipal historic preservation ordinance or law; and    (n) undertaking any of the purposes of this subdivision in furtherance  of the establishment of a greenbelt.    6.  The town board which has established a community preservation fund  shall create an advisory board to review  and  make  recommendations  on  proposed  acquisitions  of  interests in real property using monies from  the fund. Such board shall consist of five or seven legal  residents  of  the  municipality who shall serve without compensation. No member of the  local legislative body shall serve on  the  board.  A  majority  of  the  members   of   the   board   shall  have  demonstrated  experience  with  conservation or land preservation activities. The board shall act in  an  advisory  capacity  to  the town board. At least one member of the board  shall be an active farmer. Board members' terms shall be staggered.    7. The town board which has established a community preservation  fund  shall,  by  local law, adopt a community preservation project plan. Such  plan shall list every project which the town plans to undertake pursuant  to the community preservation fund. It shall include every parcel  which  is  necessary  to  be acquired in the town in order to protect community  character. Such plan shall provide for  a  detailed  evaluation  of  all  available   land   use  alternatives  to  protect  community  character,  including but not limited to: (a) fee  simple  acquisition,  (b)  zoning  regulations, including density reductions, cluster development, and site  plan  and  design  requirements, (c) transfer of development rights, (d)  the purchase of development rights,  and  (e)  scenic  and  conservation  easements.  Said  evaluation  shall  be as specific as practicable as to  each parcel selected  for  inclusion  in  such  plan.  Such  plan  shall  establish  the  priorities  for  preservation,  and  shall  include  the  preservation of  farmland  as  its  highest  priority.  Funds  from  the  community preservation fund may only be expended for projects which have  been  included  in  such  plan. Such plan shall be updated not less than  once every five years, but in no event until at least three years  after  the  adoption  of  the original plan. A copy of such plan shall be filed  with the town clerk, the commissioner of environmental conservation, the  commissioner of agriculture and markets  and  the  commissioner  of  the  office  of  parks, recreation and historic preservation. Such plan shall  be completed at least sixty days before the submission of the  mandatory  referendum  required  by  section fourteen hundred thirty-eight-b of the  tax law. If at the time of referendum, the town shall have in  place  an  adopted  open  space plan, such plan shall be deemed sufficient to waive  the preservation plan  requirements  of  this  subdivision.  Any  monies  expended   from  the  community  preservation  plan  shall,  however  be  consistent with the purposes outlined in subdivisions three and five  of  this  section  and  with  the open space plan for a period not to exceed  twelve months.8. The town board which has established a community preservation  fund  pursuant  to this section may study and consider establishing a transfer  of development rights program to protect community character as provided  for by section two hundred sixty-one-a of this chapter.  All  provisions  of  such  section  two hundred sixty-one-a shall be complied with. If at  any time during the life of the community preservation fund  a  transfer  of  development  rights  program  is  established,  the town may utilize  monies from the community preservation fund in order to create and  fund  a  central bank of the transfer of development rights program. If at any  time during the life of the community preservation fund, a  transfer  of  development  rights program is repealed by the town, all monies from the  central bank shall be returned to the community preservation fund.    9. No interests or rights in real property shall be acquired  pursuant  to  this  section  until a public hearing is held as required by section  two hundred forty-seven of the general municipal law; provided, however,  that nothing herein shall prevent the town board from  entering  into  a  conditional  purchase  agreement  before  a  public hearing is held. Any  resolution of the town board  approving  an  acquisition  of  rights  or  interest  in  real  property  pursuant  to this section, shall find that  acquisition was the best alternative for  the  protection  of  community  character of all the reasonable alternatives available to the town.    10.  Rights  or  interest  in  real property acquired pursuant to this  section shall be administered and managed in a manner which  (a)  allows  public  use  and  enjoyment  in  a  manner  compatible with the natural,  scenic, historic and open space character of such lands;  (b)  preserves  the  native  biological diversity of such lands; (c) with regard to open  spaces, limits improvements to enhancing access for passive use of  such  lands  such  as nature trails, boardwalks, bicycle paths, and peripheral  parking areas  provided  that  such  improvements  do  not  degrade  the  ecological value of the land or threaten essential wildlife habitat; and  (d)  preserves  cultural property consistent with accepted standards for  historic preservation.  Notwithstanding  any  other  provision  of  this  subdivision  there shall be no right to public use and enjoyment of land  used in conjunction with a farm  operation  as  defined  by  subdivision  eleven  of section three hundred one of the agriculture and markets law.  In furthering the purposes of this section,  the  town  may  enter  into  agreements   with   corporations   organized  under  the  not-for-profit  corporation law and engage in land  trust  activities  to  manage  lands  including less than fee interests acquired pursuant to the provisions of  this section, provided that any such agreement shall contain a provision  that  such  corporation  shall  keep  the lands accessible to the public  unless such corporation shall demonstrate to  the  satisfaction  of  the  town  that public accessibility would be detrimental to the lands or any  natural resources associated therewith.    11. Rights or interests in real property  acquired  with  monies  from  such  fund  shall  not be sold, leased, exchanged, donated, or otherwise  disposed of or used for  other  than  the  purposes  permitted  by  this  section   without   the  express  authority  of  an  act  of  the  state  legislature, which shall provide for the substitution of other lands  of  equal   environmental   value  and  fair  market  value  and  reasonably  equivalent usefulness and location to those to be discontinued, sold  or  disposed  of,  and  such  other requirements as shall be approved by the  state legislature. Any conservation easements, created under title three  of article forty-nine of the environmental conservation law,  which  are  acquired with monies from such fund may only be modified or extinguished  as  provided  in  section  49-0307  of such law. Nothing in this section  shall preclude the town, by  local  law,  from  establishing  additional  restrictions  to  the  alienation  of  lands  acquired  pursuant to thissection. This subdivision shall not apply to  the  sale  of  development  rights by the town acquired pursuant to this section, where said sale is  made  by  a  central bank created by the town, pursuant to a transfer of  development  rights  program established by the town pursuant to section  two hundred sixty-one-a of this chapter, provided, however (a) that  the  lands  from  which  said  development  rights were acquired shall remain  preserved in perpetuity by a permanent conservation  easement  or  other  instrument  that  similarly preserves the community character referenced  in subdivision five of this section, and (b) the proceeds from such sale  shall be deposited in the community preservation fund.

State Codes and Statutes

Statutes > New-york > Twn > Article-4 > 64-h

§  64-h.  Town  of  Red  Hook  preservation  funds. 1. As used in this  section,  the  following  words  and  terms  shall  have  the  following  meanings:    (a) "Town" means the town of Red Hook.    (b)  "Community  preservation"  shall  mean  and  include  any  of the  purposes outlined in subdivision five of this section.    (c) "Board" means the advisory board required pursuant to  subdivision  six of this section.    (d)  "Fund"  means the community preservation fund created pursuant to  subdivision two of this section.    (e) "Tax" shall mean the real estate transfer tax imposed pursuant  to  section  fourteen  hundred  thirty-eight-b  of  the  tax  law or, if the  context clearly indicates, shall  mean  the  real  estate  transfer  tax  imposed pursuant to article thirty-one of the tax law.    2.  The  town board of the town of Red Hook is authorized to establish  by local law a community preservation fund pursuant to the provisions of  this section. Deposits into the fund may include revenues of  the  local  government  from  whatever  source  and shall include, at a minimum, all  revenues from a tax imposed upon the transfer of real property interests  in such town pursuant to article thirty-one-A-1 of the tax law. The fund  shall also be authorized to accept gifts of any such interests  in  land  or of funds. Interest accrued by monies deposited into the fund shall be  credited  to the fund. In no event shall monies deposited in the fund be  transferred to any other account.  Nothing  contained  in  this  section  shall  be  construed  to  prevent  the  financing  in  whole or in part,  pursuant to  the  local  finance  law,  of  any  acquisition  authorized  pursuant  to this section. Monies from the fund may be utilized to repay  any indebtedness or obligations incurred pursuant to the  local  finance  law consistent with effectuating the purposes of this section.    3.  The  purposes of the fund shall be exclusively, (a) to implement a  plan for the preservation of community character  as  required  by  this  section,  (b)  to  acquire  interests or rights in real property for the  preservation of community character within the town  including  villages  therein  in  accordance  with  such plan and in cooperation with willing  sellers, (c) to establish a bank pursuant to a transfer  of  development  rights  program  consistent with section two hundred sixty-one-a of this  chapter, and (d) to provide a management  and  stewardship  program  for  such  interests  and  rights  consistent  with  subdivision  ten of this  section and in accordance with such plan designed to preserve  community  character.  Not  more than ten percent of the fund shall be utilized for  the management and stewardship program.    4. If the implementation of the community preservation  project  plan,  adopted  by  the  town  board,  as provided in subdivision seven of this  section, has been completed, and funds are  no  longer  needed  for  the  purposes  outlined in this subdivision, then any remaining monies in the  fund shall be applied to reduce any bonded indebtedness  or  obligations  incurred to effectuate the purposes of this section.    5.  Preservation  of  community character shall involve one or more of  the following:    (a) preservation of open space;    (b) establishment of parks, nature preserves, or recreation areas;    (c) preservation of land which is  predominantly  viable  agricultural  land,  as  defined  in subdivision seven of section three hundred one of  the  agriculture  and  markets  law,   or   unique   and   irreplaceable  agricultural  land,  as  defined  in  subdivision  six  of section three  hundred one of the agriculture and markets law;    (d) preservation of lands of exceptional scenic value;    (e) preservation of fresh and saltwater marshes or other wetlands;(f) preservation of aquifer recharge areas;    (g) preservation of undeveloped beach-lands or shoreline;    (h)  establishment  of wildlife refuges for the purpose of maintaining  native animal species diversity, including  the  protection  of  habitat  essential to the recovery of rare, threatened or endangered species;    (i) preservation of unique or threatened ecological areas;    (j)  preservation of rivers and river areas in a natural, free-flowing  condition;    (k) preservation of forested land;    (l) preservation of public access to lands for  public  use  including  stream rights and waterways;    (m)  preservation  of historic places and properties listed on the New  York  state  register  of  historic  places  and/or  protected  under  a  municipal historic preservation ordinance or law; and    (n) undertaking any of the purposes of this subdivision in furtherance  of the establishment of a greenbelt.    6.  The town board which has established a community preservation fund  shall create an advisory board to review  and  make  recommendations  on  proposed  acquisitions  of  interests in real property using monies from  the fund. Such board shall consist of five or seven legal  residents  of  the  municipality who shall serve without compensation. No member of the  local legislative body shall serve on  the  board.  A  majority  of  the  members   of   the   board   shall  have  demonstrated  experience  with  conservation or land preservation activities. The board shall act in  an  advisory  capacity  to  the town board. At least one member of the board  shall be an active farmer. Board members' terms shall be staggered.    7. The town board which has established a community preservation  fund  shall,  by  local law, adopt a community preservation project plan. Such  plan shall list every project which the town plans to undertake pursuant  to the community preservation fund. It shall include every parcel  which  is  necessary  to  be acquired in the town in order to protect community  character. Such plan shall provide for  a  detailed  evaluation  of  all  available   land   use  alternatives  to  protect  community  character,  including but not limited to: (a) fee  simple  acquisition,  (b)  zoning  regulations, including density reductions, cluster development, and site  plan  and  design  requirements, (c) transfer of development rights, (d)  the purchase of development rights,  and  (e)  scenic  and  conservation  easements.  Said  evaluation  shall  be as specific as practicable as to  each parcel selected  for  inclusion  in  such  plan.  Such  plan  shall  establish  the  priorities  for  preservation,  and  shall  include  the  preservation of  farmland  as  its  highest  priority.  Funds  from  the  community preservation fund may only be expended for projects which have  been  included  in  such  plan. Such plan shall be updated not less than  once every five years, but in no event until at least three years  after  the  adoption  of  the original plan. A copy of such plan shall be filed  with the town clerk, the commissioner of environmental conservation, the  commissioner of agriculture and markets  and  the  commissioner  of  the  office  of  parks, recreation and historic preservation. Such plan shall  be completed at least sixty days before the submission of the  mandatory  referendum  required  by  section fourteen hundred thirty-eight-b of the  tax law. If at the time of referendum, the town shall have in  place  an  adopted  open  space plan, such plan shall be deemed sufficient to waive  the preservation plan  requirements  of  this  subdivision.  Any  monies  expended   from  the  community  preservation  plan  shall,  however  be  consistent with the purposes outlined in subdivisions three and five  of  this  section  and  with  the open space plan for a period not to exceed  twelve months.8. The town board which has established a community preservation  fund  pursuant  to this section may study and consider establishing a transfer  of development rights program to protect community character as provided  for by section two hundred sixty-one-a of this chapter.  All  provisions  of  such  section  two hundred sixty-one-a shall be complied with. If at  any time during the life of the community preservation fund  a  transfer  of  development  rights  program  is  established,  the town may utilize  monies from the community preservation fund in order to create and  fund  a  central bank of the transfer of development rights program. If at any  time during the life of the community preservation fund, a  transfer  of  development  rights program is repealed by the town, all monies from the  central bank shall be returned to the community preservation fund.    9. No interests or rights in real property shall be acquired  pursuant  to  this  section  until a public hearing is held as required by section  two hundred forty-seven of the general municipal law; provided, however,  that nothing herein shall prevent the town board from  entering  into  a  conditional  purchase  agreement  before  a  public hearing is held. Any  resolution of the town board  approving  an  acquisition  of  rights  or  interest  in  real  property  pursuant  to this section, shall find that  acquisition was the best alternative for  the  protection  of  community  character of all the reasonable alternatives available to the town.    10.  Rights  or  interest  in  real property acquired pursuant to this  section shall be administered and managed in a manner which  (a)  allows  public  use  and  enjoyment  in  a  manner  compatible with the natural,  scenic, historic and open space character of such lands;  (b)  preserves  the  native  biological diversity of such lands; (c) with regard to open  spaces, limits improvements to enhancing access for passive use of  such  lands  such  as nature trails, boardwalks, bicycle paths, and peripheral  parking areas  provided  that  such  improvements  do  not  degrade  the  ecological value of the land or threaten essential wildlife habitat; and  (d)  preserves  cultural property consistent with accepted standards for  historic preservation.  Notwithstanding  any  other  provision  of  this  subdivision  there shall be no right to public use and enjoyment of land  used in conjunction with a farm  operation  as  defined  by  subdivision  eleven  of section three hundred one of the agriculture and markets law.  In furthering the purposes of this section,  the  town  may  enter  into  agreements   with   corporations   organized  under  the  not-for-profit  corporation law and engage in land  trust  activities  to  manage  lands  including less than fee interests acquired pursuant to the provisions of  this section, provided that any such agreement shall contain a provision  that  such  corporation  shall  keep  the lands accessible to the public  unless such corporation shall demonstrate to  the  satisfaction  of  the  town  that public accessibility would be detrimental to the lands or any  natural resources associated therewith.    11. Rights or interests in real property  acquired  with  monies  from  such  fund  shall  not be sold, leased, exchanged, donated, or otherwise  disposed of or used for  other  than  the  purposes  permitted  by  this  section   without   the  express  authority  of  an  act  of  the  state  legislature, which shall provide for the substitution of other lands  of  equal   environmental   value  and  fair  market  value  and  reasonably  equivalent usefulness and location to those to be discontinued, sold  or  disposed  of,  and  such  other requirements as shall be approved by the  state legislature. Any conservation easements, created under title three  of article forty-nine of the environmental conservation law,  which  are  acquired with monies from such fund may only be modified or extinguished  as  provided  in  section  49-0307  of such law. Nothing in this section  shall preclude the town, by  local  law,  from  establishing  additional  restrictions  to  the  alienation  of  lands  acquired  pursuant to thissection. This subdivision shall not apply to  the  sale  of  development  rights by the town acquired pursuant to this section, where said sale is  made  by  a  central bank created by the town, pursuant to a transfer of  development  rights  program established by the town pursuant to section  two hundred sixty-one-a of this chapter, provided, however (a) that  the  lands  from  which  said  development  rights were acquired shall remain  preserved in perpetuity by a permanent conservation  easement  or  other  instrument  that  similarly preserves the community character referenced  in subdivision five of this section, and (b) the proceeds from such sale  shall be deposited in the community preservation fund.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Twn > Article-4 > 64-h

§  64-h.  Town  of  Red  Hook  preservation  funds. 1. As used in this  section,  the  following  words  and  terms  shall  have  the  following  meanings:    (a) "Town" means the town of Red Hook.    (b)  "Community  preservation"  shall  mean  and  include  any  of the  purposes outlined in subdivision five of this section.    (c) "Board" means the advisory board required pursuant to  subdivision  six of this section.    (d)  "Fund"  means the community preservation fund created pursuant to  subdivision two of this section.    (e) "Tax" shall mean the real estate transfer tax imposed pursuant  to  section  fourteen  hundred  thirty-eight-b  of  the  tax  law or, if the  context clearly indicates, shall  mean  the  real  estate  transfer  tax  imposed pursuant to article thirty-one of the tax law.    2.  The  town board of the town of Red Hook is authorized to establish  by local law a community preservation fund pursuant to the provisions of  this section. Deposits into the fund may include revenues of  the  local  government  from  whatever  source  and shall include, at a minimum, all  revenues from a tax imposed upon the transfer of real property interests  in such town pursuant to article thirty-one-A-1 of the tax law. The fund  shall also be authorized to accept gifts of any such interests  in  land  or of funds. Interest accrued by monies deposited into the fund shall be  credited  to the fund. In no event shall monies deposited in the fund be  transferred to any other account.  Nothing  contained  in  this  section  shall  be  construed  to  prevent  the  financing  in  whole or in part,  pursuant to  the  local  finance  law,  of  any  acquisition  authorized  pursuant  to this section. Monies from the fund may be utilized to repay  any indebtedness or obligations incurred pursuant to the  local  finance  law consistent with effectuating the purposes of this section.    3.  The  purposes of the fund shall be exclusively, (a) to implement a  plan for the preservation of community character  as  required  by  this  section,  (b)  to  acquire  interests or rights in real property for the  preservation of community character within the town  including  villages  therein  in  accordance  with  such plan and in cooperation with willing  sellers, (c) to establish a bank pursuant to a transfer  of  development  rights  program  consistent with section two hundred sixty-one-a of this  chapter, and (d) to provide a management  and  stewardship  program  for  such  interests  and  rights  consistent  with  subdivision  ten of this  section and in accordance with such plan designed to preserve  community  character.  Not  more than ten percent of the fund shall be utilized for  the management and stewardship program.    4. If the implementation of the community preservation  project  plan,  adopted  by  the  town  board,  as provided in subdivision seven of this  section, has been completed, and funds are  no  longer  needed  for  the  purposes  outlined in this subdivision, then any remaining monies in the  fund shall be applied to reduce any bonded indebtedness  or  obligations  incurred to effectuate the purposes of this section.    5.  Preservation  of  community character shall involve one or more of  the following:    (a) preservation of open space;    (b) establishment of parks, nature preserves, or recreation areas;    (c) preservation of land which is  predominantly  viable  agricultural  land,  as  defined  in subdivision seven of section three hundred one of  the  agriculture  and  markets  law,   or   unique   and   irreplaceable  agricultural  land,  as  defined  in  subdivision  six  of section three  hundred one of the agriculture and markets law;    (d) preservation of lands of exceptional scenic value;    (e) preservation of fresh and saltwater marshes or other wetlands;(f) preservation of aquifer recharge areas;    (g) preservation of undeveloped beach-lands or shoreline;    (h)  establishment  of wildlife refuges for the purpose of maintaining  native animal species diversity, including  the  protection  of  habitat  essential to the recovery of rare, threatened or endangered species;    (i) preservation of unique or threatened ecological areas;    (j)  preservation of rivers and river areas in a natural, free-flowing  condition;    (k) preservation of forested land;    (l) preservation of public access to lands for  public  use  including  stream rights and waterways;    (m)  preservation  of historic places and properties listed on the New  York  state  register  of  historic  places  and/or  protected  under  a  municipal historic preservation ordinance or law; and    (n) undertaking any of the purposes of this subdivision in furtherance  of the establishment of a greenbelt.    6.  The town board which has established a community preservation fund  shall create an advisory board to review  and  make  recommendations  on  proposed  acquisitions  of  interests in real property using monies from  the fund. Such board shall consist of five or seven legal  residents  of  the  municipality who shall serve without compensation. No member of the  local legislative body shall serve on  the  board.  A  majority  of  the  members   of   the   board   shall  have  demonstrated  experience  with  conservation or land preservation activities. The board shall act in  an  advisory  capacity  to  the town board. At least one member of the board  shall be an active farmer. Board members' terms shall be staggered.    7. The town board which has established a community preservation  fund  shall,  by  local law, adopt a community preservation project plan. Such  plan shall list every project which the town plans to undertake pursuant  to the community preservation fund. It shall include every parcel  which  is  necessary  to  be acquired in the town in order to protect community  character. Such plan shall provide for  a  detailed  evaluation  of  all  available   land   use  alternatives  to  protect  community  character,  including but not limited to: (a) fee  simple  acquisition,  (b)  zoning  regulations, including density reductions, cluster development, and site  plan  and  design  requirements, (c) transfer of development rights, (d)  the purchase of development rights,  and  (e)  scenic  and  conservation  easements.  Said  evaluation  shall  be as specific as practicable as to  each parcel selected  for  inclusion  in  such  plan.  Such  plan  shall  establish  the  priorities  for  preservation,  and  shall  include  the  preservation of  farmland  as  its  highest  priority.  Funds  from  the  community preservation fund may only be expended for projects which have  been  included  in  such  plan. Such plan shall be updated not less than  once every five years, but in no event until at least three years  after  the  adoption  of  the original plan. A copy of such plan shall be filed  with the town clerk, the commissioner of environmental conservation, the  commissioner of agriculture and markets  and  the  commissioner  of  the  office  of  parks, recreation and historic preservation. Such plan shall  be completed at least sixty days before the submission of the  mandatory  referendum  required  by  section fourteen hundred thirty-eight-b of the  tax law. If at the time of referendum, the town shall have in  place  an  adopted  open  space plan, such plan shall be deemed sufficient to waive  the preservation plan  requirements  of  this  subdivision.  Any  monies  expended   from  the  community  preservation  plan  shall,  however  be  consistent with the purposes outlined in subdivisions three and five  of  this  section  and  with  the open space plan for a period not to exceed  twelve months.8. The town board which has established a community preservation  fund  pursuant  to this section may study and consider establishing a transfer  of development rights program to protect community character as provided  for by section two hundred sixty-one-a of this chapter.  All  provisions  of  such  section  two hundred sixty-one-a shall be complied with. If at  any time during the life of the community preservation fund  a  transfer  of  development  rights  program  is  established,  the town may utilize  monies from the community preservation fund in order to create and  fund  a  central bank of the transfer of development rights program. If at any  time during the life of the community preservation fund, a  transfer  of  development  rights program is repealed by the town, all monies from the  central bank shall be returned to the community preservation fund.    9. No interests or rights in real property shall be acquired  pursuant  to  this  section  until a public hearing is held as required by section  two hundred forty-seven of the general municipal law; provided, however,  that nothing herein shall prevent the town board from  entering  into  a  conditional  purchase  agreement  before  a  public hearing is held. Any  resolution of the town board  approving  an  acquisition  of  rights  or  interest  in  real  property  pursuant  to this section, shall find that  acquisition was the best alternative for  the  protection  of  community  character of all the reasonable alternatives available to the town.    10.  Rights  or  interest  in  real property acquired pursuant to this  section shall be administered and managed in a manner which  (a)  allows  public  use  and  enjoyment  in  a  manner  compatible with the natural,  scenic, historic and open space character of such lands;  (b)  preserves  the  native  biological diversity of such lands; (c) with regard to open  spaces, limits improvements to enhancing access for passive use of  such  lands  such  as nature trails, boardwalks, bicycle paths, and peripheral  parking areas  provided  that  such  improvements  do  not  degrade  the  ecological value of the land or threaten essential wildlife habitat; and  (d)  preserves  cultural property consistent with accepted standards for  historic preservation.  Notwithstanding  any  other  provision  of  this  subdivision  there shall be no right to public use and enjoyment of land  used in conjunction with a farm  operation  as  defined  by  subdivision  eleven  of section three hundred one of the agriculture and markets law.  In furthering the purposes of this section,  the  town  may  enter  into  agreements   with   corporations   organized  under  the  not-for-profit  corporation law and engage in land  trust  activities  to  manage  lands  including less than fee interests acquired pursuant to the provisions of  this section, provided that any such agreement shall contain a provision  that  such  corporation  shall  keep  the lands accessible to the public  unless such corporation shall demonstrate to  the  satisfaction  of  the  town  that public accessibility would be detrimental to the lands or any  natural resources associated therewith.    11. Rights or interests in real property  acquired  with  monies  from  such  fund  shall  not be sold, leased, exchanged, donated, or otherwise  disposed of or used for  other  than  the  purposes  permitted  by  this  section   without   the  express  authority  of  an  act  of  the  state  legislature, which shall provide for the substitution of other lands  of  equal   environmental   value  and  fair  market  value  and  reasonably  equivalent usefulness and location to those to be discontinued, sold  or  disposed  of,  and  such  other requirements as shall be approved by the  state legislature. Any conservation easements, created under title three  of article forty-nine of the environmental conservation law,  which  are  acquired with monies from such fund may only be modified or extinguished  as  provided  in  section  49-0307  of such law. Nothing in this section  shall preclude the town, by  local  law,  from  establishing  additional  restrictions  to  the  alienation  of  lands  acquired  pursuant to thissection. This subdivision shall not apply to  the  sale  of  development  rights by the town acquired pursuant to this section, where said sale is  made  by  a  central bank created by the town, pursuant to a transfer of  development  rights  program established by the town pursuant to section  two hundred sixty-one-a of this chapter, provided, however (a) that  the  lands  from  which  said  development  rights were acquired shall remain  preserved in perpetuity by a permanent conservation  easement  or  other  instrument  that  similarly preserves the community character referenced  in subdivision five of this section, and (b) the proceeds from such sale  shall be deposited in the community preservation fund.