N.Y. Comp. Codes R. & Regs. tit. 21 § 752.5

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

Section 752.5 - Rental policy governing leases, licenses, concession agreements or other agreements

(a) It shall be the policy of the Hudson River Park Trust that a fair rental value shall be charged for any proposed lease, license, concession agreement or other agreement for the use of property or facilities, or any portion thereof, within the jurisdiction of the Hudson River Park Trust.

(b) In setting such rental, the Hudson River Park Trust may take into account the value of any maintenance, improvements, custodial services, security, public use benefit, park programming or other in-kind considerations that may be provided by the lessee, licensee, concessionaire or other proposed party to such an agreement.

(c) Notwithstanding any provision of this Part, the Hudson River Park Trust may, at its discretion, negotiate a reduced rental value to be charged for any proposed lease, license, concession agreement or other agreement for the use of property or facilities, or any portion thereof, within the jurisdiction of the Hudson River Park Trust where the lessee, licensee, concessionaire or other proposed party is a tax exempt organization under section 501(c)(3) or other provisions of the Internal Revenue Code, provided that the nature of the proposed agreement is related to the tax-exempt, non-profit purposes of such organization and is in the best interests of the park and in furtherance of the mission of the Hudson River Park Trust to provide free or nominal programming and opportunities to the public.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 752.5