Res 0670-2018

By Council Members Salamanca and Kallos WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council October 29, 2018 its request dated October 22, 2018, pursuant to Section 694 of the General Municipal Law, that the Council approve an Amended Project as an Urban Development Area Project (the "Amended Project") for property located at 3-11 West 118th Street and 1460-1472 5th Avenue (Block 1717 Lots 28 and 33 - formerly Lots 28-40), Community District 10, Borough of Brooklyn (the "Disposition Area"): WHEREAS, the request made by the New York City Department of Housing and Development is related to a previously approved City Council Resolution No. 2507 (L.U. No. 1364) dated August 5, 1997 (the "Original Resolution"); WHEREAS, upon due notice, the Council held a public hearing on the Amended Project on December 3, 2018; and WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Amended Project. RESOLVED: The Council approves the Amended Project as an Urban Development Action Area Project pursuant to Section 694 of the General Municipal Law. The Amended Project shall be developed upon the terms and conditions in the Amended Project Summary that HPD has submitted to the Council on October 29, 2018, a copy of which is attached hereto. 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 11, 2018, on file in this office. ................................................. City Clerk, Clerk of The Council SUPPLEMENTAL PROJECT SUMMARY 1. PROGRAM: SENIOR AFFORDABLE RENTAL APARTMENTS PROGRAM 2. PROJECT: Victory Plaza 3. LOCATION: 3, 5, 7, 9 & 11 West 118th Street a. BOROUGH: Manhattan b. COMMUNITY DISTRICT: 10 c. COUNCIL DISTRICT: 9 d. NEW PROJECT AREA: BLOCKS LOTS ADDRESSES 1717 28 (formerly 3-11 West 118th Lots 28-32) Street 4. BASIS OF DISPOSITION PRICE: Not applicable 5. TYPE OF PROJECT: New Construction 6. APPROXIMATE NUMBER OF BUILDINGS: 1 7. APPROXIMATE NUMBER OF UNITS: 136 dwelling units, including one unit for a superintendent 8. HOUSING TYPE: Rental 9. ESTIMATE OF INITIAL RENTS: Formerly homeless tenants referred by DHS and other City agencies will pay up to 30% of their income as rent. Other tenants will pay rents set at up to 30% of 60% of the area median income (AMI) on an annual basis. 10. INCOME TARGETS: Up to 60% of AMI 11. PROPOSED FACILITIES: None 12. PROPOSED CODES/ORDINANCES: None 13. ENVIRONMENTAL STATUS: Negative Declaration 14. PROPOSED TIME SCHEDULE: Approximately six months from authorization to sale. Page 2 of 3 20195180 HAM Res. No. 670 (L.U. No. 279)