Res 1333-2020

By Council Members Salamanca and Adams WHEREAS, the New York City Department of Housing Preservation and Development filed an application regarding city-owned property located at 266 West 96th Street (Block 1243, Lot 57), (the "Disposition Area"), pursuant to Section 197-c of the New York City Charter seeking approval for the disposition of the Disposition Area to a developer to be selected by the New York City Department of Housing Preservation and Development, to facilitate the development of a 23-story, mixed-use building containing residential and community facility uses in the Upper West Side neighborhood of Community District 7, Manhattan (ULURP No. C 200140 PPM) (the "Application"); WHEREAS, the City Planning Commission filed with the Council on April 20, 2020, its decision dated March 16, 2020 (the "Decision"), on the Application; WHEREAS, the Decision is subject to review and action by the Council pursuant to Section 197-d of the City Charter; WHEREAS, by letter dated April 23, 2020 and submitted to the Council on April 23, 2020, HPD submitted its requests (the "HPD Requests"; Application Number 20205412 HAM) respecting the Application, requesting that the Council approve the sale of the Disposition Area to the Sponsor pursuant to Section 576-a(2) of the Private Housing Finance Law, including the submission of the project summary for the Project (the "Project Summary"); WHEREAS, upon due notice, the Council held a public hearing on the Application and Decision and the HPD Requests on May 7, 2020; WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Application and HPD Requests; and WHEREAS, the Council has considered the relevant environmental issues, including the positive declaration, issued on May 1, 2019 (CEQR No. 18HPD103M) and a Final Environmental Impact Statement (FEIS) for which a Notice of Completion was issued on March 5, 2020 which identified significant adverse impacts with respect to historic and cultural resources (architectural resources) and total demolition of the former substation that would make significant adverse impacts unavoidable and the identified significant adverse impacts and proposed mitigation measures under the proposed actions are summarized in Chapter 7 "Mitigation" of the FEIS. RESOLVED: Having considered the FEIS with respect to the Decision and Application, the Council finds that: (1) The FEIS meets the requirements of 6 N.Y.C.R.R. Part 617; (2) Consistent with social, economic, and other essential considerations, from among the reasonable alternatives thereto, the action is one which minimizes or avoids adverse impacts to the maximum extent practicable; and (3) The adverse environmental impacts disclosed in the FEIS will be minimized or avoided to the maximum extent practicable by incorporating mitigation measures that were identified as practicable. The Decision, together with the FEIS constitute the written statement of facts, and of social, economic and other factors and standards that form the basis of this determination, pursuant to 6 N.Y.C.R.R. �617.11(d). Pursuant to Section 197-d of the New York City Charter, and on the basis of the Decision and Application, and based on the environmental determination and consideration described in the report, C 200140 PPM, incorporated by reference herein, and the record before the Council, the Council approves the Decision of the City Planning Commission. The Council approves the sale of the Disposition Area to the Sponsor pursuant to Section 576-a(2) of the Private Housing Finance Law, upon condition that the Project shall be developed in a manner consistent with the Project Summary, a copy of which is attached hereto and made a part hereof. 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 _________, 2020, on file in this office. .................................................. City Clerk, Clerk of The Council PROJECT SUMMARY 1. PROGRAM: MIXED INCOME PROGRAM: M2 2. PROJECT: 266 West 96th Street 3. LOCATION: a. BOROUGH: Manhattan b. COMMUNITY DISTRICT: 7 c. COUNCIL DISTRICT: 6 d. DISPOSITION AREA: BLOCK LOT(S) ADDRESS(ES) 1243 57 266 West 96th St 4. BASIS OF DISPOSITION PRICE: Nominal. Sponsor will pay one dollar per lot and deliver a note and mortgage for the remainder of the appraised value ("Land Debt"). For a period of at least thirty (30) years following completion of construction, the Land Debt or the City's capital subsidy may be repayable out of resale or refinancing profits. The remaining balance, if any, may be forgiven at the end of the term. 5. TYPE OF PROJECT: New Construction 6. APPROXIMATE NUMBER OF BUILDINGS: 1 7. APPROXIMATE NUMBER OF UNITS: 170 dwelling units (+1 Super unit) 8. HOUSING TYPE: Rental 9. ESTIMATE OF INITIAL RENTS: Approximately 102 units will be market-rate. Approximately 68 units will be affordable. For the affordable units, rents will be affordable to families with incomes between 40% and 130% of AMI. Formerly homeless tenants referred by DHS and other City agencies will pay up to 30% of their income as rent. All affordable units will be subject to rent stabilization. 10. INCOME TARGETS: Between 40% and 165% of AMI. 11. PROPOSED FACILITIES: Approximately 10,843 square feet of community facility space 12. PROPOSED CODES/ORDINANCES: None 13. ENVIRONMENTAL STATUS: Environmental Impact Statement 14. PROPOSED TIME SCHEDULE: Approximately 24 months from closing to completion of construction Page 4 of 4 C 200140 PPM, 20205412 HAM Res. No. ___ (L.U. No. 661, Pre L.U. No. 662)