§ 61-04 Lease for or Contract to Ourchase an Eligible Premises.
RCNY § 61-04
(a)A business that is issued a notice pursuant to 19 RCNY § 61-03(c) may submit to the commissioner a valid lease for or contract to purchase an eligible premises. A business must both enter into and submit to the commissioner such lease or contract during a three month period following the preliminary eligibility application recording date. Such lease or contract must be submitted along with a form prescribed by the commissioner.
(b)Upon receipt by the commissioner of such lease or contract, the commissioner shall record such lease or contract and assign such submission a lease or contract submission date. The commissioner shall not record submission of a valid lease or contract to purchase an eligible premises with a submission date that is on or after July 1, 2028.
(c)The commissioner shall transmit notice of such lease or contract submission date to the applicant business. (Added City Record 11/20/2025, eff. 12/20/2025)
