Section 258. Transfer of real property

1. Notwithstanding any requirement
  of law to the contrary or any provision of any general, special or local
  law, charter  or  ordinance,  every  executor,  administrator,  trustee,
  guardian  or  other  person holding trust funds or acting in a fiduciary
  capacity, unless the instrument under which  such  fiduciary  is  acting
  expressly  forbids, and the state, its subdivisions, municipalities, all
  other public bodies, all  public  officers,  persons,  partnerships  and
  corporations owning or holding any real property, may grant, sell, lease
  or  otherwise  transfer  any such real property or interest therein to a
  community development corporation and receive and hold any cash,  bonds,
  notes,   mortgages  or  other  securities  or  obligations,  secured  or
  unsecured, exchanged therefor by such corporation and may  execute  such
  instruments  and do such acts as may be deemed necessary or desirable by
  them or it and by the  corporation  in  connection  with  a  project  or
  projects,  and  such  sale, lease or transfer may be made without public
  auction or bidding; provided, however, that where such real property  is
  within  a  municipal urban renewal area the disposition thereof shall be
  in accordance with the provisions of paragraph (d) of subdivision two of
  section five hundred seven of the general municipal law.
    2. The municipality may take property by condemnation for a  community
  development  corporation  pursuant  to the provisions of article nine of
  this chapter and transfer the same to such corporation  as  provided  in
  subdivision one of this section.