The New York City Council - File #: Res 0522-2018

• File #: Res 0522-2018
• Version: *
• Name: LU 177 - Planning, TPT Program, In Rem Action No. 56, Queens (20185472 HAQ)
• 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 property located at 3 Morse Court (Block 15563, Lot 101), Community District 14, Borough of Queens, (L.U. No. 177; 20185472 HAQ).
• 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. 522

Title
Resolution approving a new real property tax exemption pursuant to Article XI of the Private Housing Finance Law for property located at 3 Morse Court (Block 15563, Lot 101), Community District 14, Borough of Queens, (L.U. No. 177; 20185472 HAQ).
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 property located at 3 Morse Court (Block 15563, Lot 101), Community District 14, Borough of Queens (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 to the transferee ("Article XI Commencement Date") and terminating upon the earlier to occur of (i) the fortieth anniversary of the Article XI Commencement Date, (ii) the date of reconveyance of the Transfer Area to an owner which is not a housing development fund company, or (iii) the date upo...