RESOLUTION NO. 269
AUTHORIZING THE CONVEYANCE OF THE SOUTH MALL PROJECT (EMPIRE STATE PLAZA) PROPERTY AND IMPROVEMENTS BACK TO THE STATE OF NEW YORK
Introduced: 7/13/26
By Audit and Finance Committee:
WHEREAS, The County of Albany ("County") and the State of New York ("State") entered into an Agreement dated May 11, 1965 ("South Mall Agreement") pursuant to Chapter 152 of the Laws of 1964 and Section 850 of the County Law regarding the financing of the South Mall Project (now known as the Empire State Plaza), and
WHEREAS, The South Mall Agreement provided that the State would convey to the County any property the State acquired for the South Mall Project and the County would lease said property and the improvements constructed thereon back to the State until December 31, 2004 or until the earlier payment of all of the principal of and interest on the bonds and notes issued by the County to finance the South Mall Project, and
WHEREAS, The South Mall Agreement further provided that upon the expiration of said Lease the County would convey back to the State, its successors and assigns, without any additional payment therefor, all of the right, title and interest in the South Mall Project property and improvements which the County received from the State pursuant to the South Mall Agreement and any Supplements thereto, and
WHEREAS, Said Lease has by its terms expired and all of principal and interest on the bonds and notes issued by the County to finance the South Mall Project have been paid, and
WHEREAS, Under the circumstances the County required to and wishes to make said conveyance back to the State and the State wishes to accept delivery of said conveyance back to it pursuant to the terms of the South Mall Agreement, and
WHEREAS, By Resolution No. 268 for 2026, these South Mall Project properties, in the City of Albany were deemed "no longer necessary for public use" pursuant to County Law ? 215 and ? 65...
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