Int 0202-2006

Be it enacted by the Council as follows: Section 1. Subdivision (a) of section 11-245 of the administrative code of the city of New York, as amended by local law number 22 for the year 2005, is amended to read as follows: (a) No benefits under section four hundred twenty-one-a of the real property tax law shall be conferred for any construction commenced on or after November twenty-ninth, nineteen hundred eighty-five and prior to December thirty-first, two thousand seven for any tax lots now existing or hereafter created which are located entirely within the geographic area in the borough of Manhattan bounded and described as follows: BEGINNING at the intersection of the bulkhead line in the Hudson River and 96th street extended; thence easterly to 96th street and continuing along 96th street to its easterly terminus; thence easterly to the intersection of 96th street extended and the bulkhead line in the East River; thence southerly along said bulkhead line to the intersection of said bulkhead line and 14th street extended; thence westerly to 14th street and continuing along 14th street to Broadway; thence southerly along Broadway to Houston street; thence westerly along Houston street to Thompson street; thence southerly along Thompson street to Spring street; thence westerly along Spring street to Avenue of the Americas; thence northerly along Avenue of the Americas to Vandam street; thence westerly along Vandam street to Varick street; thence northerly along Varick street to Houston street; thence westerly along Houston street and continuing to its westerly terminus; thence westerly to the intersection of Houston street extended and the bulkhead line in the Hudson River; thence northerly along said bulkhead line to the intersection of said bulkhead line and [11th avenue extended; thence northerly to 11th avenue and continuing along 11th avenue to 14th street; thence easterly along 14th street to 10th avenue; thence northerly along 10th avenue to 30th street; thence westerly along 30th street to 11th avenue;]30th street extended; thence easterly along 30th street to 11th avenue; thence northerly along 11th avenue to 41st street; thence westerly along 41st street and continuing to its westerly terminus; thence westerly to the intersection of 41st street extended and the bulkhead line in the Hudson River; thence northerly along said bulkhead line to the place of beginning. §2. Section 11-245 of the administrative code of the city of New York is amended by adding a new subdivision (a-1) to read as follows: (a-1) Notwithstanding the provisions contained in subdivision (a) of this section concerning the date of commencement of construction, the amendments to such subdivision (a) made by local law number 22 for the year 2005 shall only apply to construction commenced on or after March seventh, two thousand six and prior to December thirty-first, two thousand seven. §3. Section 11-245 of the administrative code of the city of New York is amended by adding a new subdivision (a-2) to read as follows: (a-2) Notwithstanding the provisions contained in subdivision (a) of this section concerning the date of commencement of construction, the amendments to such subdivision (a) made by the local law that added this subdivision shall only apply to construction commenced on or after the effective date of section three of the local law that added this subdivision and prior to December thirty-first, two thousand seven. §4. This local law shall take effect one year after the date of its enactment, except that section two of this local law shall take effect immediately.