General Municipal Law 558 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 557 State capital grants up ARTICLE 15-A Municipal Urban Renewal Agencies, Organization and Powers next SECTION 559 Bonds of an agency Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 558 Authority of agency; other terms and contracts General Municipal (GMU) CHAPTER 24, ARTICLE 15-A § 558. Authority of agency; other terms and contracts. 1. An agency is authorized to enter into agreement with the state to receive such state capital grants to assist such agency to establish and carry out one or more programs of urban renewal. 2. In every contract for a capital grant by the state, the acts constituting a substantial breach of the provisions set forth therein shall be defined in such terms as the commissioner shall deem to be in the public interest and as are consistent with the provisions of this article and the purposes of the program for which such aid is sought. 3. Every such contract may contain such other terms, covenants and conditions as shall be agreed upon and as are consistent with the provisions of this article and the purposes of the urban renewal program.