N.Y. GMU Law § 72-N

§ 72-n. Air space and air and subsurface areas. 1. Any municipal\ncorporation acting through its governing board may, in addition to those\npowers granted it by any other provision of law and notwithstanding any\nother provision of law to the contrary, lease to any person, firm or\ncorporation for business, commercial, private or other lawful use, the\nair rights over or the subsurface areas under any of its property\ntogether with lands adjacent thereto which have been or are to be\nacquired by it pursuant to section thirty-four-b of the public lands\nlaw, provided that said air space rights and air rights and subsurface\nrights and adjacent lands are determined by the governing board not\nthereafter to be needed for municipal purposes.\n 2. Such lease shall be subject to the provisions of section\nthirty-four-b of the public lands law and shall in addition contain\nprovisions requiring the lessee to take steps which are adequate and\nnecessary to support and maintain such facilities as are being developed\nby the municipality, the state, or any of its duly constituted agencies.\n 3. Title to any buildings, structures, substructures or\nsuperstructures erected or constructed by the lessee shall vest in the\nmunicipality at the termination or expiration of the lease.\n 4. Any such lease may be entered into without recourse to sealed bids\nor public auction provided that (a) the amount of rental and all\nessential terms and conditions of the lease shall have been included in\na notice published by the governing board in at least one newspaper of\ngeneral circulation in the municipality not less than twenty days prior\nto its proposed execution and that (b) such lease shall be approved by\nthe governing board after a public hearing held not less than ten days\nafter the publication of said notice.\n 5. Interests granted pursuant to this section and any improvements\nerected or constructed thereunder shall be assessed and taxed in\naccordance with the provisions of section five hundred sixty-four of the\nreal property tax law.\n