File #: Res 1068-2019    Version: * Name: LU 537 - Lafayette-Morrison Apartments, Bronx
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 9/25/2019
Enactment date: Law number:
Title: Resolution approving an amendment to a previously approved real property tax exemption pursuant to Section 577 of the Private Housing Finance Law for property located at (Block 3627, Lots 40, 50, 30 and 20), Bronx (Preconsidered L.U. No. 537).
Sponsors: Daniel Dromm
Council Member Sponsors: 1
Attachments: 1. Res. No. 1068, 2. Housing Preservation and Development Letter, 3. Memorandum, 4. September 25, 2019 - Stated Meeting Agenda with Links to Files, 5. Hearing Transcript - Stated Meeting 9-25-19, 6. Minutes of the Stated Meeting - September 25, 2019

THE COUNCIL OF THE CITY OF NEW YORK

RES. NO. 1068

 

Resolution approving an amendment to a previously approved real property tax exemption pursuant to Section 577 of the Private Housing Finance Law for property located at (Block 3627, Lots 40, 50, 30 and 20), Bronx (Preconsidered L.U. No. 537).

 

By Council Member Dromm

 

WHEREAS, the New York City Department of Housing Preservation and Development (“HPD”) submitted to the Council its request dated September 11, 2019 that the Council amend a previously approved tax exemption for real property located at (Block 3627, Lots 40, 50, 30 and 20), Bronx (“Exemption Area”) pursuant to Section 577 of the Private Housing Finance Law;

 

WHEREAS, the HPD’s request for amendments is related to a previously Resolution adopted by City Council on May 23, 2018 (Resolution 367) (the “Prior Resolution”), attached hereto as Exhibit A, granting the Exemption Area a real property tax exemption pursuant to Section 577 of the Private Housing Finance Law;

 

WHEREAS, the Council has considered the financial implications relating to the Tax Exemption;

 

RESOLVED:

 

The Council approves the amendments to the Prior Resolution requested by HPD for the Exemption Area pursuant to Section 577 of the Private Housing Finance Law as follows:

 

Provision 1.h.1 of the Prior Resolution is deleted and replaced with the following:

 

(1)                     Commencing upon July 1, 2019, an amount equal to Ninety-Seven Thousand Six Hundred Seventy-Six Dollars ($97,676); and

 

Except as specifically amended above, all other terms, conditions, provisions and requirements of the Prior Resolution remain in full force and effect.

 

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 August 25, 2019, on file in this office.

 

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