New York City Council Header
File #: Res 0751-2015    Version: * Name: LU 229 - Planning, 62 West Tremont Ave, Bronx (20155571 HAX)
Type: Resolution Status: Adopted
Committee: Committee on Land Use
On agenda: 6/10/2015
Enactment date: Law number:
Title: Resolution approving an Urban Development Action Area Project; waiving the urban development action area designation requirement and the Uniform Land Use Review Procedure pursuant to Article 16 of New York General Municipal Law; and granting a tax exemption pursuant to Section 577 of the Private Housing Finance Law for property located at 62 West Tremont Avenue (Block 2862, Lot 8), Borough of the Bronx (L.U. No. 229; 20155571 HAX).
Sponsors: David G. Greenfield, Inez E. Dickens
Council Member Sponsors: 2
Attachments: 1. June 10, 2015 - Stated Meeting Agenda with Links to Files, 2. Resolution, 3. Hearing Transcript - Stated Meeting 6-10-15, 4. Minutes of the Stated Meeting - June 10, 2015
THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 751
 
 
Resolution approving an Urban Development Action Area Project; waiving the urban development action area designation requirement and the Uniform Land Use Review Procedure pursuant to Article 16 of New York General Municipal Law; and granting a tax exemption pursuant to Section 577 of the Private Housing Finance Law for property located at 62 West Tremont Avenue (Block 2862, Lot 8), Borough of the Bronx (L.U. No. 229; 20155571 HAX).
 
 
By Council Members Greenfield and Dickens
 
WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council on April 22, 2015 its request dated April 6, 2015 that the Council take the following actions regarding the proposed Urban Development Action Area Project (the "Project") located at 62 West Tremont Avenue (Block 2862, Lot 8), Community District 5, Borough of the Bronx (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 stated in Section 691 of the General Municipal Law;
 
        2.      Waive the area designation requirement of Section 693 of the General Municipal Law pursuant to said Section;
 
        3.      Waive the requirements of Sections 197-c and 197-d of the New York City 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; and
 
        5.      Approve the exemption of the Disposition Area from real property taxes pursuant to Section 577 of the Private Housing Finance Law (the "Tax Exemption").
 
           WHEREAS, the Project is to be developed on land that is now an eligible area as defined in Section 692 of the General Municipal Law, and consists solely of the rehabilitation or conservation of existing private or multiple dwellings or the construction of one to four unit dwellings, and does not require any change in land use permitted under the New York City Zoning Resolution;
 
           WHEREAS, upon due notice, the Council held a public hearing on the Project on June 2, 2015;
 
 
 
      WHEREAS, the Council has considered the land use, environmental and financial implications and other policy issues relating to the Project;
 
RESOLVED:
 
           The Council finds that the present status of the Disposition 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 waives the area designation requirement pursuant to Section 693 of the General Municipal Law.
 
The Council waives the requirements of Sections 197-c and 197-d of the New York City 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 upon the terms and conditions in the Project Summary HPD submitted to the Council on April 22, 2015, a copy of which is attached hereto and made part hereof.
 
           The Council approves the Tax Exemption for the Disposition Area from real property taxes pursuant to Section 577 of the Private Housing Finance Law as follows:
 
a.      All of the value of the property in the Disposition Area, including both the land and any improvements (excluding those portions, if any, devoted to business or commercial use), shall be exempt from real property taxation, other than assessments for local improvements, for a period commencing upon the later of (i) the date of conveyance of the Disposition Area to the Sponsor, or (ii) the date that HPD and the Sponsor enter into a regulatory agreement governing the operation of the Disposition Area ("Effective Date") and terminating upon the earlier to occur of (i) a date which is forty (40) years from the Effective Date, (ii) the date of the expiration or termination of the regulatory agreement between HPD and the Sponsor, or (iii) the date upon which the Disposition Area ceases to be owned by either a housing development fund company or an entity wholly controlled by a housing development fund company ("Expiration Date").
 
b.      Notwithstanding any provision hereof to the contrary, the exemption from real property taxation provided hereunder ("Exemption") shall terminate if HPD determines at any time that (i) the Disposition Area is not being operated in accordance with the requirements of Article XI of the Private Housing Finance Law, (ii) the Disposition Area is not being operated in accordance with the requirements of the regulatory agreement between HPD and the Sponsor, (iii) the Disposition 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, (iv) the demolition of any private or multiple dwelling on the Disposition Area has commenced without the prior written consent of HPD, or (v) the Disposition Area is conveyed without the prior written approval of HPD.  HPD shall deliver written notice of any such determination to the owner of the Disposition Area 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 herein, the Exemption shall prospectively terminate.
 
c.      The Exemption shall not apply to any building constructed on the Exemption Area which did not have a certificate of occupancy on the Effective Date.
 
d.      In consideration of the Exemption, the Sponsor and any future owner of the Disposition Area, (i) execute and record the Regulatory Agreement, and (ii) for so long as the Exemption shall remain in effect, shall 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, except for an exemption and/or abatement of real property taxation pursuant to Section 489 of the Real Property Tax Law.
 
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 June 10, 2015, on file in this office.
 
 
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     City Clerk, Clerk of The Council