Res 1791-2017

By Council Members Greenfield and Salamanca WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council on November 15, 2017 its request dated November 6, 2017 that the Council take the following actions regarding the following Urban Development Action Area Project (the "Project") located at 249 Mother Gaston Boulevard (Block 3675, Lot 8), Borough of Brooklyn (the "Disposition Area"): 1. Find that the present status of the Disposition Area tends to impair or arrest the sound growth and development of the municipality and that the proposed Urban Development Action Area Project is consistent with the policy and purposes of Section 691 of the General Municipal Law; 2. Waive the area designation requirement of Section 693 of the General Municipal Law pursuant to Section 693 of the General Municipal Law; 3. Waive the requirements of Sections 197-c and 197-d of the Charter pursuant to Section 694 of the General Municipal Law; 4. Approve the Project as an Urban Development Action Area Project pursuant to Section 694 of the General Municipal Law; 5. Approve an exemption from real property taxation under Section 577 of the Private Housing Finance Law. WHEREAS, HPD's requests is related to previously approved City Council Resolution No. 2062 of December 11, 1996 and Resolution No. 2345 of May 14, 1997; WHEREAS, upon due notice, the Council held a public hearing on the Project on December 13, 2017; WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Tax Exemption Request; RESOLVED: The Council finds that the present status of the Disposition Area tends to impair or arrest the sound growth and development of the municipality and that the proposed Urban Development Action Area Project is consistent with the policy and purposes of Section 691 of the General Municipal Law; The Council waives the area designation requirement of Section 693 of the General Municipal Law pursuant to Section 693 of the General Municipal Law. The Council waives the requirements of Sections 197-c and 197-d of the Charter pursuant to Section 694 of the General Municipal Law. The Council approves the project as an Urban Development Action Area Project pursuant to Section 694 of the General Municipal Law. The Project shall be developed in a manner consistent with the Project Summary that HPD has submitted to the Council on November 15, 2017, a copy of which is attached hereto. Pursuant to Section 577 of the Private Housing Finance Law, the Council approves an exemption of the Exemption Area from real property taxes as follows: For the purposes hereof, the following terms shall have the following meanings: (a) "Effective Date" shall mean the later of (i) the date of conveyance of the Exemption Area to the HDFC, and (ii) the date that HPD and the Owner enter into the Regulatory Agreement. (b) "Exemption" shall mean the exemption from real property taxation provided hereunder. (c) "Exemption Area" shall mean the real property located in the Borough of Brooklyn, City and State of New York, and identified as Block 3675, Lot 8 on the Tax Map of the City of New York. (d) "Expiration Date" shall mean June 10, 2031. (e) "HDFC" shall mean Park Monroe Housing Development Fund Corporation. (f) "HPD" shall mean the Department of Housing Preservation and Development of the City of New York. (g) "Owner" shall mean the HDFC or any future owner of the Exemption Area. (h) "Regulatory Agreement" shall mean the regulatory agreement between HPD and the Owner establishing certain controls upon the operation of the Exemption Area during the term of the Exemption. 2. All of the value of the property in the Exemption Area, including both the land and any improvements (excluding those portions, if any, devoted to business, commercial or community facility use), shall be exempt from real property taxation, other than assessments for local improvements, for a period commencing upon the Effective Date and terminating upon the Expiration Date. 3. Notwithstanding any provision hereof to the contrary: a. The Exemption shall terminate if HPD determines that (i) the Exemption Area is not being operated in accordance with the requirements of Article XI of the Private Housing Finance Law, (ii) the Exemption Area is not being operated in accordance with the requirements of the Regulatory Agreement, (iv) the Exemption Area is not being operated in accordance with the requirements of any other agreement with, or for the benefit of, the City of New York, (v) the Exemption Area is conveyed to a new owner without the prior written approval by HPD, or (vi) the construction or demolition of any private or multiple dwelling on the Exemption Area has commenced without the prior written consent of HPD. HPD shall deliver written notice of any such determination to the HDFC and all mortgagees of record, which notice shall provide for an opportunity to cure of not less than sixty (60) days. If the noncompliance specified in such notice is not cured within the time period specified therein, the Exemption shall prospectively terminate. b. The Exemption shall apply to all land in the Exemption Area, but shall only apply to a building in the Exemption Area that exists on the Effective Date. c. Nothing herein shall entitle the HDFC to a refund of any real property taxes which accrued and were paid by or on behalf of the HDFC or any other owner of the Exemption Area prior to Effective Date. 4. In consideration of the Exemption, the owner of the Exemption Area shall, for so long as the Exemption shall remain in effect, waive the benefits, if any, of any additional or concurrent exemption from or abatement of real property taxation which may be authorized under any existing or future local, state or federal law, rule or regulation. 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 December 19, 2017, on file in this office. ................................................ City Clerk, Clerk of The Council Page 4 of 4 20185127 HAK Res. No. 1791 (L.U. No. 833)