§ 8-02 Procedures for Distressed Property.
RCNY § 8-02
(a)The Commissioner of Finance shall, not less than sixty days preceding the date of the sale of a tax lien or tax liens, submit to the Commissioner of HPD a description by block and lot, or by such other identification as the Commissioner of Finance may deem appropriate, of any parcel of class one or class two real property on which there is a tax lien that may be sold by the City. The Commissioner of HPD shall determine, and advise the Commissioner of Finance, not less than ten days preceding the date of the sale of a tax lien or tax liens, whether any such parcel is a Distressed Property as defined in 28 RCNY § 8-01. Any tax lien on a parcel so determined to be a Distressed Property shall not be included in such sale. In connection with a subsequent sale of a tax lien or tax liens, the Commissioner of Finance may, not less than sixty days preceding the date of the sale, resubmit to the Commissioner of HPD a description by block and lot, or by such other identification as the Commissioner of Finance may deem appropriate, of any parcel of class one or class two real property that was previously determined to be a Distressed Property pursuant to these Rules and on which there is a tax lien that may be included in such sale. The Commissioner of HPD shall determine, and advise the Commissioner of Finance, not less than ten days preceding the date of the sale, whether such parcel remains a Distressed Property. If the Commissioner of HPD determines that the parcel is not a Distressed Property, then the tax lien on the parcel may be included in such sale.
(b)The Commissioner of HPD may periodically review whether a parcel of class one or class two real property remains a Distressed Property. If the Commissioner determines that the parcel is not a Distressed Property as defined in these Rules, then the tax lien on the parcel may be included in a tax lien sale.
(c)The Commissioner of HPD may recommend to the Commissioner of Finance that a tax lien on a parcel of property other than a Distressed Property should not be included in a tax lien sale. The Commissioner of Finance, may, in his or her sole discretion, exclude such tax lien on such parcel from a tax lien sale, in accordance with the recommendation of the Commissioner of HPD.
