Res 1589-2021

By Council Members Salamanca and Riley WHEREAS, the City Planning Commission filed with the Council on March 5, 2021 its decision dated March 3, 2021 (the "Decision"), on the application submitted by New York City Department of Housing Preservation and Development ("HPD") regarding city-owned property located at 2735 Frederick Douglass Boulevard (Block 2045, Lot 13), 2752 Frederick Douglass Boulevard (Block 2032, Lot 2) 131 West 133rd Street (Block 1918, Lot 16), and 130 West 134th Street (Block 1918, Lot 53) (the "Disposition Area"), approving: a) pursuant to Article 16 of the General Municipal Law of New York State the designation of Disposition Area as an Urban Development Action Area; b) pursuant to Article 16 of the General Municipal Law of New York State an Urban Development Action Area Project for the Disposition Area (the "Project"); and c) pursuant to Section 197-c of the New York City Charter 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 two six-story buildings, one seven-story building and one 10-story building for a total of 48 affordable homeownership units in Central Harlem, Manhattan Community District 10 (ULURP No. C 200276 HAM) (the "Application"); WHEREAS, the City Planning Commission has certified its unqualified approval of UDAAP pursuant to Article 16 of the General Municipal Law; 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 March 16, 2021 and submitted to the Council on March 16, 2021, HPD submitted its requests (the "HPD Requests") respecting the Application 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 March 8, 2021; WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Application; and WHEREAS, the Council has considered the relevant environmental issues, including the negative declaration issued on October 2, 2020 (CEQR No. 19HPD056M) (the "Negative Declaration"). RESOLVED: The Council finds that the action described herein will have no significant impact on the environment as set forth in the Negative Declaration. Pursuant to Section 197-d of the New York City Charter, based on the environmental determination and the consideration described in the report C 200276 HAM and incorporated by reference herein, and the record before the Council, the Council approves the Decision of the City Planning Commission and the HPD Requests. Pursuant to Article 16 of the General Municipal Law of the New York State, based on the environmental determination and the consideration described in the report C 200276 HAM and incorporated by reference herein, and the record before the Council, the Council approves the Decision of the City Planning Commission and the HPD Requests. The Council finds that the present status of the Area tends to impair or arrest the sound growth and development of the City of New York and that a designation of the Project as an urban development action area project is consistent with the policy and purposes stated in Section 691 of the General Municipal Law. The Council approves the designation of the Disposition Area as an urban development action area pursuant to Section 693 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 and subject to the terms and conditions of the Project Summary. The Council approves the disposition of the Disposition Area pursuant to Section 197-d of the New York City Charter, to a developer to be selected by HPD for the development of the Project consistent with the Project Summary. PROJECT SUMMARY 1. PROGRAM: OPEN DOOR PROGRAM 2. PROJECT: Central Harlem Infill - Open Door Cluster 3. LOCATION: a. BOROUGH: Manhattan b. COMMUNITY DISTRICT: 10 c. COUNCIL DISTRICT: 9 d. DISPOSITION AREA: BLOCKS LOTS 2045 13 1918 16 1918 53 2032 2 4. BASIS OF DISPOSITION PRICE: Nominal. Sponsor will pay one dollar per tax lot and deliver a note and mortgage for the remainder of the appraised value ("Land Debt"). 5. TYPE OF PROJECT: New Construction 6. APPROXIMATE NUMBER OF BUILDINGS: 4 7. APPROXIMATE NUMBER OF UNITS: 48 8. HOUSING TYPE: Cooperative Units. If homes remain unsold at the end of the Marketing Period and HPD determines in writing that (i) sale is not feasible within a reasonable time, and (ii) a rental fallback is the best available alternative, then the unsold homes may be rented in accordance with the written instructions of HPD. 9. ESTIMATE OF INITIAL PRICE: Sales prices will be affordable to families with annual household incomes between 80% and 130% of the area median income (AMI). 10. LIENS FOR LAND DEBT/CITY SUBSIDY: Each of the Land Debt and the amount of any construction financing provided through loans from the City ("City Subsidy") will be secured by a mortgage on the Disposition Area. Upon conversion to a cooperative, the cooperative corporation will repay the Land Debt and City Subsidy, if any, attributable to the property by delivering a note and mortgage and/or conditional grant agreement to the City. At such time, HPD may unsecure or forgive all or a portion of the Land Debt, and unsecure, but not forgive, all or a portion of the City Subsidy, based on the appraised value of a homeownership unit and/or, in the case of forgiveness of Land Debt, if HPD determines that the forgiveness is necessary to reduce the taxable consideration for a unit. The sum evidenced by the note and secured by the mortgage will be reduced to zero upon maturity of the Land Debt and City Subsidy, respectively, if the owner has complied with the program's restrictions. 11. INCOME TARGETS: Families with annual household incomes between 80% and 130% AMI. 12. PROPOSED FACILITIES: Approximately 329 square feet of commercial space 13. PROPOSED CODES/ORDINANCES: None 14. ENVIRONMENTAL STATUS: Negative Declaration 15. PROPOSED TIME SCHEDULE: Approximately 24 months from closing to completion of construction. 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 March 25, 2021, on file in this office. .................................................. City Clerk, Clerk of The Council Page 4 of 4 C 200276 HAM Res. No. 1589 (Pre. L.U. No. 743)