BILL NUMBER: S5072
SPONSOR: GRIFFO
 
TITLE OF BILL:
An act to amend the New York state urban development corporation act, in
relation to authorizing municipalities to purchase private residential
real property located in a floodplain
 
PURPOSE:
This bill would allow municipalities to purchase private residential
real property located in floodplains to assist homeowners dealing with
flooding.
 
SUMMARY OF PROVISIONS:
1. Section 1 of the bill specifies the mechanism by which a city, town
or village may designate a residential area as a floodplain and how they
can purchase private property. Further, this bill stipulates owners of
the private property within the area designated as a floodplain are
under no obligation to sell their home and that once private property
has been purchased and made public it is to be dedicated as open space.
2. Section 2 marks the effective date.
 
JUSTIFICATION:
Throughout the state of New York, especially the Mohawk Valley, Southern
Tier and shores of Lake Ontario and the St. Lawrence River, there has
been a persistent, pervasive and destructive pattern of flooding. Many
of the floods that these regions are experiencing are exacting a devas-
tating toll on residents who are unfortunate enough to find themselves
in the path of these dangerous waters.
Many residents find themselves unable to sell their homes due to flood-
ing concerns, even at low prices. This leads to a cycle of residents
needing to remove water from their homes, replace their critical infras-
tructure like electricity, furnaces and hot water heaters, as well as
their personal belongings and furnishings on an almost yearly basis.
This legislation would provide local governments with a mechanism to
designate these hard-hit residential areas as floodplains and buyout
residents at fair market, pre-flood(ing) levels through bonding made by
the Urban Development Corporation for the purposes of the program.
While residents are under no obligation to sell their home, this
provides them with an opportunity to sell for more than they would on
the open market. The sale price secured by the homeowner from the
government should provide them with greater means to purchase another
property outside of their locality's area of persistent flooding.
Further, this legislation mandates that the local government, once it
has designated a residential area as a floodplain, is to develop that
area into open space. This area could be used as a park or be returned
to nature entirely. This will help local governments by cutting down on
costs associated with emergency services and the redevelopment of prop-
erty and infrastructure.
 
LEGISLATIVE HISTORY:
2023-24-S.4220 Corporations, Authorities and Commissions
2021-22 - S. 4262 - Corporations Authorities & Commissions/A. 1123
Economic Development
2019-20 - S. 6893 - Corporations Authorities & Commissions/A. 8939
Economic Development
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect on January 1st next succeeding the date on
which it shall have become law.