THE COUNCIL OF THE CITY OF NEW YORK RESOLUTION NO. 734 Title Resolution approving the decision of the City Planning Commission on an application submitted by the Department of Housing Preservation and Development, ULURP No. C 030054 HAM, approving the designation of 734, 736, 738, 740, 742 and 744 East 5th Street (Block 374/Lots 25, 27-30), Manhattan, as an Urban Development Action Area, approving the project for the area as an Urban Development Action Area Project, and approving the disposition of such property to a developer selected by the Department of Housing Preservation and Development (L.U. No. 283; C 030054 HAM). Body By Council Members Katz and Martinez WHEREAS, the City Planning Commission filed with the Council on January 10, 2003 its decision dated January 8, 2003 (the "Decision"), on the application submitted by the Department of Housing Preservation and Development pursuant to Section 197-c of the New York City Charter and Article 16 of the General Municipal Law of New York State regarding: a) the designation of 734, 736, 738, 740, 742 and 744 East 5th Street (Block 374/Lots 25, 27-30), as an Urban Development Action Area (the "Area"); b) an Urban Development Action Area Project for such area (the "Project"); and pursuant to Section 197-c of the New York City Charter for the disposition of such properties to a developer to be selected by the Department of Housing Preservation and Development (the "Disposition") (ULURP No. C 030054 HAM) (the "Application"); WHEREAS, the Decision is subject to review and action by the Council pursuant to Section 197-d(b)(1) of the City Charter; WHEREAS, the Application and Decision are subject to review and action by the Council pursuant to Article 16 of the General Municipal Law of New York State; _____________ WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council its recommendations regarding the Application on January 7, 2003; WHEREAS, upon due notice, the Council held a public hearing on the Application and Decision on February 24, 2003; WHEREAS, the Council has considered the relevant environmental review (CEQR No. 02HPD027M) and the fact that a Revised Negative Declaration was issued on August 9, 2002; WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Application; RESOLVED: The Council finds that the actions described herein will have no significant effect on the environment; Pursuant to Section 197-d, the Council approves the decision of the City Planning Commission (C 030054 HAM). 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 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. The Council approves the disposition of said property to a developer selected by the Department of Housing Preservation and Development. _________ 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 February 26, 2003, on file in this office. ................................................ City Clerk, Clerk of the Council Page 3 of 3 C 030054 HAM Res. No. 734 (L.U. No. 283)