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The original item was published from 2/24/2017 10:58:46 AM to 3/4/2017 8:05:01 AM.

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Public Notices

Posted on: February 24, 2017

[ARCHIVED] Proposed Local Law #3-2017 Chapter 323: Transfer of Density Flow Rights

NOTICE OF PUBLIC HEARING

TOWN OF SMITHTOWN

NOTICE IS HEREBY GIVEN, that the Town Board of the Town of Smithtown, Suffolk County, State of New York, will meet at the Town of Smithtown Town Hall, Patrick R. Vecchio Building, Victor T. Liss Boardroom, 99 West Main Street, Smithtown, New York, on the 7th day of March, 2017 at 2:00 p.m., time then in effect to consider proposed Local Law #3-2017, amending Chapter 323 of the Code of the Town of Smithtown, which will read as follows:

 

Proposed Local Law #3-2017

Chapter 323: Transfer of Density Flow Rights

 

Additions indicated by underlines.

Deletions indicated by strikeouts.

§ 323-3 Definitions.

DENSITY FLOW RIGHTS BANK

            A depository comprised of:

B.        A trust-in-agency account into which deposits are made upon sale of publicly held flow rights and from which withdrawals are made to purchase density flow rights or to acquire and conserve open space, as authorized by the Town Board. A separate cash account and accounting of the density flow rights in a fund that combines into the General Fund for financial statement presentation as a restricted reserve which deposits are made upon sale of publically-held flow rights and from which withdrawals are made to purchase interests to acquire and conserve open space.

Dated:  February 23, 2017


BY ORDER OF THE TOWN BOARD

OF THE TOWN OF SMITHTOWN

VINCENT PULEO

TOWN CLERK

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