SLR 1 authorizes the City of New York to request state approval to discontinue and alienate approximately 3,352,577 sq ft (76.9646 acres) of parkland (Area A) and an additional 15,737 sq ft (0.361 acres) (Area B) in Flushing Meadows-Corona Park. The land will be leased to Queens Future LLC or its affiliates for development, construction, operation, and use of a gaming facility along with associated commercial, retail, entertainment, recreational, hotel, convention, and community facility uses, plus parking and roadways. The authorization is conditioned on dedicating an amount equal to or greater than the fair market value of the discontinued parkland toward acquisition of new parkland and/or capital improvements within Queens, including at least 20 acres of new or adjacent parkland and a north–south pedestrian connection. Federal compliance is required if the City received any federal assistance for the parkland, and if construction has not commenced within 15 years or the land is used for unauthorized purposes, the property reverts to the Department of Parks and Recreation.