New York Consolidated Laws, General Municipal Law - GMU § 503-b. Transfer of projects

Notwithstanding any provision of this article, or of any general, special or local law or charter to the contrary, a municipality may, upon the establishment of a municipal urban renewal agency pursuant to the provisions of article fifteen-A of this chapter, convey, assign, grant or otherwise transfer all of its right, title and interest in any urban renewal program, or part thereof, and any right, title and interest in or to any real or personal property, contract, claim or other interest acquired or held by it in connection with such program, or part thereof, to such agency, with or without consideration, as it may determine.