Res 1045-2016

By Council Members Greenfield and Dickens WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council on March 1, 2016 its request dated February 29, 2016 that the Council approve an amendment to a previously approved exemption area pursuant to Section 577 of the Private Housing Finance Law ("Amended Exemption") for property located at Block 2662, Lot 10; Block 2668, Lots 30 and 33; Block 2669, Lots 6 and 47; Block 2685, Lot 48; Block 2799, Lot 18; Block 2869, Lot 142; Block 2877, Lot 268; Block 2879, Lots 68 and 69; Block 2890, Lot 17; Block 2892, Lot 38; Block 2903, Lots 3, 41, 43 and 44; Block 2934, Lots 23, 26, 29 and 31, Block 2971, Lots 10, 12 and 14; and Block 3776, Lot 44, Community Districts 2, 3, 5, and 9, Borough of the Bronx (the "Exemption Area"); WHEREAS, HPD's request for the amendment is related to a previously approved City Council Resolution adopted on December 16, 2015 (Resolution No. 948, L.U. No. 303) (the "Prior Resolution") granting the Exemption Area a real property tax exemption pursuant to Section 420-c of the Real Property Tax Law and pursuant to Section 577 of the Private Housing Finance Law (the "Previous Tax Exemption"); WHEREAS, HPD submitted to the Council on March 1, 2016 its request dated February 29, 2016 relating to the tax exemptions for the Exemption Area ("The HPD Request"); WHEREAS, upon due notice, the Council held a public hearing on the Amended Exemption on April 4, 2016; WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Amended Exemption; RESOLVED: The Council approves the Amended Prior Resolution by (i) replacing the definition of "Exemption Area" contained in subdivision (c) of paragraph one and (ii) replacing the definition of "Prior Exemption" contained in subdivision (j) of paragraph one, with the following: (c) "Exemption Area" shall mean the real property located in the Borough of the Bronx, City and State of New York, identified as Block 2662, Lot 10; Block 2668, Lots 30 and 33; Block 2669, Lots 6 and 47; Block 2685, Lot 48; Block 2799, Lot 18; Block 2869, Lot 142; Block 2877, Lot 268; Block 2879, Lots 68 and 69; Block 2890, Lot 17; Block 2892, Lot 38; Block 2903, Lots 3, 41, 43 and 44; Block 2934, Lots 23, 26, 29 and 31, Block 2971, Lots 10, 12 and 14; and Block 3776, Lot 44 on the Tax Map of the City of New York. (j) "Prior Exemption" shall mean (a) the exemption from real property taxation pursuant to Section 420-c of the Real Property Tax Law for that portion of the Exemption Area located at Block 2903, Lots 3, 41, 43, and 44 and Block 2934, Lots 23, 26, 29, and 31, and (b) the exemption from real property taxation pursuant to Section 577 of the Private Housing Finance Law for the portion of the Exemption Area located at Block 2685, Lot 48 and Block 3776, Lot 44, approved by the City Council, respectively, on June 7, 1999 (Res. No. 852) and May 16, 1995 (Res. No. 982). Adopted. Office of the City Clerk, } The City of New York, } ss.: I hereby certify that the foregoing is a true copy of a Resolution passed by The Council of The City of New York on April 20, 2016, on file in this office. ........................................ City Clerk, Clerk of The Council Page 2 of 2 20165426 HAX Res. No. 1045 (L.U. No. 353)