Section 1640-K. Residential parking permit system in the city of Rensselaer

1.  Notwithstanding  the provisions of any law to the contrary, the city
  council of the city of Rensselaer may, by adoption of  a  local  law  or
  ordinance,  provide  for a residential parking permit system and fix and
  require the payment of fees applicable to parking  within  the  area  in
  which such parking system is in effect in accordance with the provisions
  of this section.
    2.  Such  residential  parking  permit  system may only be established
  within the area of the city of Rensselaer consisting  of  the  following
  streets:  Elm Street, East Street and Wendell Street.
    3. Notwithstanding the foregoing, no permit shall be required on those
  portions  of  such  streets  where the adjacent properties are zoned for
  commercial/retail use.
    4. The local law or ordinance providing for such  residential  parking
  permit system shall:
    (a)  set  forth  factors  necessitating  the enactment of such parking
  permit system;
    (b) provide that motor vehicles registered pursuant  to  section  four
  hundred  four-a  of  this  chapter  shall  be  exempt  from  any  permit
  requirement;
    (c) provide the times of day and days of the week during which  permit
  requirements shall be in effect;
    (d)  make not less than twenty percent of the spaces within the permit
  area available to nonresidents, and shall provide short term parking  of
  not less than ninety minutes in duration in the permit area;
    (e) provide the schedule of fees to be paid for such permits; and
    (f)  provide  that  such fees shall be credited to the general fund of
  the city of Rensselaer.
    5. No ordinance shall be adopted pursuant  to  this  section  until  a
  public  hearing  thereon has been had in the same manner as required for
  public hearings on a local law pursuant to the municipal home rule law.