File #: Res 0390-2018    Version: * Name: LU 88 - Zoning, Willow Avenue Rezoning, Bronx (20185334 HAX)
Type: Resolution Status: Adopted
File created: 6/7/2018 In control: Committee on Land Use
On agenda: 6/7/2018 Final action: 6/7/2018
Title: Resolution approving a tax exemption pursuant to Article XI of the Private Housing Finance Law for property located at Block 2562, Lots 49, 56, 58, and 60, Community District 1, Borough of the Bronx, (L.U. No. 88; Non-ULURP No. 20185334 HAX).
Sponsors: Rafael Salamanca, Jr., Francisco P. Moya
Attachments: 1. May 9, 2018 - Stated Meeting Agenda with Links to Files, 2. Land Use Calendar - Week of May 14, 2018 - May 18, 2018, 3. Land Use Calendar - Week of May 28, 2018 - June 1, 2018, 4. Hearing Testimony - Zoning 5-18-18, 5. Hearing Transcript - Zoning 5-15-18, 6. Land Use Calendar - June 5, 2018, 7. Hearing Testimony - Zoning 5-30-18, 8. Hearing Transcript - Stated Meeting 6-7-18, 9. Committee Report, 10. Resolution, 11. Minutes of the Recessed Stated Meeting - June 7, 2018, 12. Minutes of the Stated Meeting - June 7, 2018
THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 390

Title
Resolution approving a tax exemption pursuant to Article XI of the Private Housing Finance Law for property located at Block 2562, Lots 49, 56, 58, and 60, Community District 1, Borough of the Bronx, (L.U. No. 88; Non-ULURP No. 20185334 HAX).
Body

By Council Members Salamanca and Moya

WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council on May 2, 2018 its request dated April 30, 2018 that the Council approve an exemption from real property taxes pursuant to Section 577 of Article XI of the Private Housing Finance Law (the "Tax Exemption Request") for property located at Block 2562, Lots 49, 56, 58, and 60, Community District No. 1, Borough of the Bronx, Council District No. 17 (the "Exemption Area");

WHEREAS, the Application is related to applications C 180088 ZMX (L.U. No. 86), a zoning map amendment to change an M1-2 and M1-2/R6A zoning district to M1-2/R6A and M1-4/R7D districts and to extend the adjacent MX-1 Special Mixed Use District; and N 180089 ZRX (L.U. No. 87), zoning text amendments to modify and include the project area within the MX-1 Special Mixed Use District and to Appendix F to establish a new Mandatory Housing (MIH) area;

WHEREAS, upon due notice, the Council held a public hearing on the Tax Exemption Request on May 15, 2018; and

WHEREAS, the Council has considered the land use and financial implications and other policy issues relating to the Tax Exemption Request.

RESOLVED:

Pursuant to Section 577 of the Private Housing Finance Law, the Council approves an exemption of the Exemption Area from real property taxes as follows:

1. For the purposes hereof, the following terms shall have the following meanings:
a. "Company" shall mean Willow 111 LLC or a limited liability company that acquires the beneficial interest In the Exemption Area with the approval of HPD.

b. "Effective Date" shall mean the late...

Click here for full text