N.Y. TCP Law § 71

§ 71. Powers. Any such corporation shall have power to take by grant\nor by assignment a franchise or right to establish and operate a ferry\nor ferries, as specified in the certificate of incorporation, subject to\nthe rights of any person, or municipal or other corporation.\n In any case when an application is made to the local governing body of\na county without the city of New York for a grant such local governing\nbody is authorized to make such grant if a public necessity therefor is\nshown. Whenever it is shown to such local governing body upon an\napplication for a grant that the tangible property of a ferry\ncorporation, employed or to be employed in the exercise of a ferry\nfranchise or right, is of the value of at least ten thousand dollars,\nsuch local governing body may grant such franchise or right for a period\nnot exceeding fifteen years.\n A ferry corporation, now enjoying a grant from a county court or such\nlocal governing body for a shorter period, shall be entitled to an\nextension thereof for a period not exceeding fifteen years from the time\nof granting such extension, on application and due proof to the local\ngoverning body of a county that its tangible property, employed in the\nexercise of such ferry franchise or right, is of the value of at least\nten thousand dollars.\n