Property Transaction Notices

Section 2897(6)(d) of Public Authorities Law requires public authorities to submit to the Authorities Budget Office a written explanation of the circumstances involving the disposal of property through a negotiated transaction not less than 90 days prior to the scheduled date of that transaction. This requirement applies to the following property:

1. Personal property having an estimated fair market value greater than $15,000;
2. Real property having an estimated fair market value greater than $100,000, except that any real property disposed of by lease or exchange;
3. Real property disposed of by lease, if the estimated annual rent over the term of the lease is in excess of $15,000;
4. Real property disposed of by exchange, regardless of value, or any property any part of the consideration for which is real property;
5. Related personal property disposed of by exchange, regardless of value, or any property any part of the consideration for which is real property.