89-K - Termination of operation agreement. - New York Statutes

§ 89-k. Termination of operation agreement. At the termination of the operation agreement as to either or both alternate correctional facilities, the department shall have an exclusive option to purchase, from the city of New York, the facility or facilities for which the operation agreement has terminated, at a fair market value price or prices which shall be negotiated by the state office of general services and the city of New York. The duration of the state's option to purchase shall commence on the date notice is received from the city of New York of its intent to terminate such agreement and shall continue for a period of six months or until the next succeeding April first, whichever is longer. Such option to purchase shall be deemed exercised upon execution of an agreement to purchase. Notwithstanding any other provision of law, these facilities shall not be operated as correctional facilities except by the department.