The New York City Council - File #: Res 0524-2018

• File #: Res 0524-2018
• Version: *
• Name: LU 179 - Planning, TPT Program, In Rem Action No. 53, Brooklyn (20185474 HAK)
• Type: Resolution
• Status: Adopted
• File created: 9/12/2018
• In control: Committee on Land Use
• On agenda: 9/12/2018
• Final action: 9/12/2018
• Title: Resolution approving a new real property tax exemption pursuant to Article XI of the Private Housing Finance Law for properties located at 371 Hooper Street (Block 2412, Lot 124), 1039A DeKalb Avenue (Block 1599, Lot 71), 1823 Eastern Parkway (Block 1442, Lot 44), and 243 Madison Street (Block 1818, Lot 73), Community Districts 1, 3, and 16, Borough of Brooklyn, (L.U. No. 179; 20185474 HAK).
• Sponsors: Rafael Salamanca, Jr., Ben Kallos

Date	Ver.	Action By	Action	Result
9/12/2018	*	City Council	Approved, by Council	Pass
9/6/2018	*	Committee on Land Use	Approved by Committee

THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 524

Title
Resolution approving a new real property tax exemption pursuant to Article XI of the Private Housing Finance Law for properties located at 371 Hooper Street (Block 2412, Lot 124), 1039A DeKalb Avenue (Block 1599, Lot 71), 1823 Eastern Parkway (Block 1442, Lot 44), and 243 Madison Street (Block 1818, Lot 73), Community Districts 1, 3, and 16, Borough of Brooklyn, (L.U. No. 179; 20185474 HAK).
Body

By Council Members Salamanca and Kallos

WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council on June 5, 2018 its request dated June 5, 2018, that the Council approve an exemption from real property taxes pursuant to Section 577 of the Private Housing Finance Law (the "Tax Exemption Request") for properties located at 371 Hooper Street (Block 2412, Lot 124), 1039A DeKalb Avenue (Block 1599, Lot 71), 1823 Eastern Parkway (Block 1442, Lot 44), and 243 Madison Street (Block 1818, Lot 73), Community Districts 1, 3, and 16, Borough of Brooklyn (the "Transfer Area ");

WHEREAS, upon due notice, the Council held a public hearing on the Tax Exemption Request on August 14, 2018; and

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

RESOLVED:

The Transfer Area shall be developed in accordance with the terms and conditions set forth in the Project Summary that HPD has submitted to the Council on June 5, 2018, a copy of which is attached hereto.

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

1. All of the value of the property in the Transfer Area, including both the land and any improvements, shall be exempt from real property taxes, other than assessments for local improvements, for a period commencing upon the date of conveyance of the Transfer Area ...