Western New York Redevelopment Act of 2005 - Modifies the statutory licensing conditions governing operation of a power project by the New York Power Authority regarding utilization of the federal share of the water of the Niagara River whose use is permitted by international agreement.
Directs the Federal Energy Regulatory Commission to include among additional conditions imposed on any license issued subsequent to the original license: (1) specified mandatory annual payments from the gross proceeds of the Authority to the Erie Canal Harbor Development Corporation; (2) the payment of one percent of gross proceeds, to be split evenly by the Industrial Development Agencies for the counties of Niagara, Erie, Chautauqua, and Cattaraugus, New York; and (3) a requirement that the licensee acquire property or interests sufficient to provide an effective zone of separation between all project control, switching or generating facilities, and any privately owned real property not used for the generation, transmission, or control of electric energy.
Requires the Secretary of Energy to conduct: (1) an audit of Niagara Power Project finances and operations since project inception; and (2) subsequent annual audits to verify payments to host communities.
Requires the New York Power Authority to provide to First Responders serving the local jurisdictions in which the Niagara Power Project facilities are located adequate resources and assistance to acquire, operate, maintain, and replace the assets needed to protect human life and property from harm should any feature or facility of the Niagara Power Project be subject to damage of any type because of an act of terror or other criminal behavior.