Official Journal of the City of New York - June 15, 2020
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Source: Official Journal of the City of New York
MONDAY, JUNE 15, 2020
THE CITY RECORD
2583
held via Conference Call. Call-in : 1-646-992-2010, Access Code 717-876-299.
completed projects receive appropriate building security and social services.
Pursuant to Section 6952b of the General Municipal Law and Section 18026j of the Charter, the Department of Housing Preservation and Development HPD of the City of New York City has proposed the sale of the following City-Owned property collectively, Disposition Area in the Borough of Manhattan:
Under the proposed project, the City will sell the Disposition Area to Neighborhood Restore Housing Development Fund Corporation Sponsor for the nominal price of one dollar per tax lot. The Sponsor will subsequently convey the Disposition Area to HELP 515 Blake Avenue Housing Development Fund Corporation Owner. The Owner will also deliver an enforcement note and mortgage for the remainder of the appraised value Land Debt.The Owner or its affiliates will demolish an existing 192-unit transitional housing facility and then construct approximately four buildings containing a total of approximately 507 rental dwelling units, plus three units for superintendents, and approximately 3,945 square feet of commercial space on the Disposition Area.
Address
Block/Lots
311-313 Pleasant Avenue 51-55 East 129th Street 1263 Park Avenue
B: 1710 ; L: 27
B: 1754 ; L: 26
B: 1625 ; L: 72
Under HPDs Affordable Neighborhood Cooperative Program, occupied City-Owned residential buildings are purchased by Restoring Communities Housing Development Fund Corporation Sponsor and then rehabilitated by a private developer selected through a request for qualifications. Upon conveyance, to the Sponsor, buildings will be managed by the private developers. Following completion of rehabilitation, Sponsor conveys the building to a cooperative housing development fund corporation Cooperative Corporation formed by the buildings tenants. The cooperative interests, attributable to occupied apartments will be sold, to the existing tenants for $2,500 per apartment. The cooperative interests, attributable to vacant apartments will be sold for a price affordable to families earning no more than 165% of the area median income.
The proposed project will be developed in three phases. Phase 1 will be the construction of one approximately 183-unit building for occupancy by homeless and low income persons, plus one unit for a superintendent, and approximately 1,745 square feet of commercial space, to be conveyed under HPDs Supportive Housing Loan Program.
Phase 2 will be the construction of one approximately 70-unit building for occupancy by homeless and low income persons, plus one unit for a superintendent, to be conveyed under HPDs Supportive Housing Loan Program. Phase 3 will be the construction of two buildings with a total of approximately 254 units plus one superintendent unit, with approximately 2,200 square feet of commercial space, to be conveyed under HPDs Extremely Low and Low Income Affordability Program.
Under the proposed project, the City will sell the Disposition Area to Sponsor for the nominal price of one dollar $1.00 per building. When completed, the project will provide 64 affordable cooperative dwelling units.
The Land Debt will be repayable out of resale or refinancing profits for a period of, at least thirty 30 years following completion of construction. The remaining balance, if any, may be forgiven, at the end of the term.
At the time of sale, the Sponsor will be required to sign a rental regulatory agreement with HPD containing, among other things, restrictions on rents, incomes, and assets. When the Sponsor conveys the building, to the Cooperative Corporation upon the completion of rehabilitation, the Cooperative Corporation will be required to sign a cooperative regulatory agreement with HPD containing, among other things, restrictions on sale prices, incomes, and assets as well as requirements for a flip tax and building reserve fund.
The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination by contacting HPD, at pearsona@hpd.nyc.gov on business days during business hours.
The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination by contacting HPD, at pearsona@hpd.nyc.gov on business days during business hours.
In order to access the Public Hearing and testify, please call 1-646-9922010, Access Code: 715 951 139 no later than 9:55 A.M. If you need further accommodations, please let us know, at least five business days in advance of the Public Hearing via email, at DisabilityAffairs@mocs.
nyc.gov.
E j15
PLEASE TAKE NOTICE that a Real Property Hearing will be held, on Wednesday, July 15, 2020, at 10:00 A.M. The Public Hearing will be held via Conference Call. Call-in : 1-646-992-2010, Access Code 717-876-299.
Pursuant to Section 6952b of the General Municipal Law and Section 18026j of the Charter, the Department of Housing Preservation and Development HPD of the City of New York City has proposed the sale of the following City-Owned property collectively, Disposition Area in the Borough of Brooklyn:
Address
Block/Lot
515 Blake Avenue
3766/1
Under HPDs Extremely Low and Low Income Affordability Program, sponsors purchase City-Owned or privately owned land or vacant buildings and construct multifamily buildings in order to create affordable rental housing. Construction and permanent financing is provided through loans from private institutional lenders and from public sources including HPD, the New York City Housing Development Corporation, the State of New York, and the federal government. Additional funding may also be provided from the syndication of low-income housing tax credits. The newly constructed buildings provide rental housing to low-income families with a range of incomes from 30% to 80% of the Area Median Income AMI.Projects may include tiers of units with rents affordable to households earning up to 100% of AMI. Subject to project underwriting, up to 30% of the units may be rented to formerly homeless families and individuals.
Under the Supportive Housing Loan Program, HPD funds the rehabilitation or new construction of buildings which provide supportive housing for the homeless, people with special needs, and other persons of low income. HPD works with the Department of Homeless Services, the Department of Health and Mental Hygiene, the Human Resources Administrations HIV/AIDS Services Administration, and other public agencies, to ensure that the
In order to access the Public Hearing and testify, please call 1-646-9922010, Access Code: 715 951 139 no later than 9:55 A.M. If you need further accommodations, please let us know, at least five business days in advance of the Public Hearing via email, at DisabilityAffairs@mocs.
nyc.gov.
E j15
PLEASE TAKE NOTICE that a Real Property Hearing will be held, on Wednesday, July 15, 2020, at 10:00 A.M. The Public Hearing will be held via Conference Call. Call-in : 1-646-992-2010, Access Code 717-876-299.
Pursuant to Section 6952b of the General Municipal Law and Section 18026j of the Charter, the Department of Housing Preservation and Development HPD of the City of New York City has proposed the sale of the following City-Owned property collectively, Disposition Area in the Borough of The Bronx:
Address
Block/Lots
993 Union Avenue 995 Union Avenue 774 Union Avenue 1042 Longfellow Avenue
B: 2669 ; L: 41
B: 2669 ; L: 40
B: 2676 ; L: 36
B: 2756 ; L: 71
Under HPDs Affordable Neighborhood Cooperative Program, occupied City-Owned residential buildings are purchased by Restoring Communities Housing Development Fund Corporation Sponsor and then rehabilitated by a private developer selected through a request for qualifications. Upon conveyance, to the Sponsor, buildings will be managed by the private developers. Following completion of rehabilitation, Sponsor conveys the building to a cooperative housing development fund corporation Cooperative Corporation formed by the buildings tenants. The cooperative interests, attributable to occupied apartments will be sold, to the existing tenants for $2,500 per apartment. The cooperative interests, attributable to vacant apartments will be sold for a price affordable to families earning no more than 165% of the area median income.
Under the proposed project, the City will sell the Disposition Area to Sponsor for the nominal price of one dollar $1.00 per building. When completed, the project will provide 69 affordable cooperative dwelling units and 2 superintendents units.
At the time of sale, the Sponsor will be required to sign a rental regulatory agreement with HPD containing, among other things, restrictions on rents, incomes, and assets. When the Sponsor conveys the building, to the Cooperative Corporation upon the completion of rehabilitation, the Cooperative Corporation will be required to sign a cooperative regulatory agreement with HPD containing, among other things, restrictions on sale prices, incomes, and assets as well as requirements for a flip tax and building reserve fund.
