N.Y. Comp. Codes R. & Regs. tit. 21 § 752.4

Current through Register Vol. 46, No. 50, December 11, 2024

Section 752.4 - Leases requiring total capital investments in excess of $1,000,000

(a) The Hudson River Park Trust shall issue a bid prospectus for any proposed lease, license, concession agreement or other agreement for the use of property or facilities within the jurisdiction of the Hudson River Park Trust where the proposed agreement would provide for a total capital investment in the park of no less than $1,000,000 over the proposed term of the agreement.

(b) Specific terms and conditions, including prerequisites and procedures for bidding or the submission of proposals, the nature of the capital improvements or equipment to be provided by the successful bidder, shall be set forth in a public request for each such proposed agreement. A copy of each such prospectus shall be provided to Manhattan community boards one, two, and four.

(c) The criteria that will be considered in evaluating bids or proposals and their relative importance are within the broad discretion of the Hudson River Park Trust and may include the best interests of the public and the Hudson River Park, potential revenue to the Hudson River Park Trust, as well as the technical experience and qualifications of the entities submitting bids or proposals. The Hudson River Park Trust is not obligated to select any bid or proposal, and may at any point pursue the solicitation of new bids or proposals, or terminate the process entirely.

(d) Following the completion of the above-mentioned provisions, the Hudson River Park Trust may proceed to process the agreement.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 752.4