New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter V - State University of New York
Subchapter D - Code of Standards and Procedures for the Administration and Operation of Community Colleges under the Program of State University of New York
Part 603 - The College Capital Budget
Section 603.5 - Real property
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Acquisition of real property. Real property may be acquired for community college facilities by gift only after the State University trustees have approved the selection of the site, and by purchase or condemnation only after an appraisal has been prepared and the State University trustees have approved the selection of the site, the educational value of the property and a capital budget which includes the acquisition costs.
(b) Appraisal of real property. Any appraisal of real property required by this Subchapter shall be prepared by an appraiser selected by the State University, approved by the college trustees and engaged by the college or sponsor. Prior to the enactment of an appropriate capital budget, appraisal costs shall be paid in the first instance by the sponsor or the college. Any appraisal required by this Subchapter shall be dated within one year of the date of the transfer of title of the real property.
(c) Title to real property. Title to the real property shall be vested with the sponsor, and the real property shall be dedicated to be held in trust for the college with a resolution of the governing legislative body of the sponsor, which resolution shall describe the parcel by a metes and bounds description. The description shall be incorporated into a deed which shall place the property in trust on behalf of the community college, which deed shall be filed and recorded in the office of the county clerk in which the property is located.
(d) Disposal of real property. A local sponsor may dispose of real property if the college board of trustees and the State University have passed resolutions declaring that the property is no longer useful or required for community college purposes and the minimum rental and the market value at the time of disposal has been determined by an appraisal and approved by the State University trustees. The following methods of disposal are approved:
In the event the disposal cannot be prudently considered or no buyer can be found, the sponsor shall endeavor to lease the property in the following manner:
Where disposal of the real property is in part payment for a new capital article for community college purposes, this section shall not apply.