File #: Res 0355-2018    Version: * Name: LU 69 - Planning, Archer Green, Queens (20185272 HAQ)
Type: Resolution Status: Adopted
File created: 5/9/2018 In control: Committee on Land Use
On agenda: 5/9/2018 Final action: 5/9/2018
Title: Resolution approving a tax exemption pursuant to Article XI of the Private Housing Finance Law for property located at Block 10209, Lot 115, Community District 12, Borough of Queens, (L.U. No. 69; Non-ULURP No. 20185272 HAQ).
Sponsors: Rafael Salamanca, Jr., Ben Kallos
Attachments: 1. April 11, 2018 - Stated Meeting Agenda, 2. Land Use Calendar - Week of April 16, 2018 - April 20, 2018, 3. Land Use Calendar - Week of April 30, 2018 - May 4, 2018, 4. Hearing Testimony - Planning 4-17-18, 5. Land Use Calendar - May 2, 2018, 6. May 9, 2018 - Stated Meeting Agenda with Links to Files, 7. Committee Report, 8. Resolution, 9. Hearing Transcript - Stated Meeting 5-9-18, 10. Minutes of the Stated Meeting - May 9, 2018
THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 355

Title
Resolution approving a tax exemption pursuant to Article XI of the Private Housing Finance Law for property located at Block 10209, Lot 115, Community District 12, Borough of Queens, (L.U. No. 69; Non-ULURP No. 20185272 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 April 5, 2018 its request dated April 4, 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 Block 10209, Lot 115, Community District No. 12, Borough of Queens, Council District No. 27 (the "Exemption Area");

WHEREAS, upon due notice, the Council held a public hearing on the Tax Exemption Request on April 17, 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. "Beneficial Owners" shall mean, collectively, the Company and the Partnership.

b. "Company" shall mean Archer Green MI Associates, LLC or a limited liability company that acquires part or all of the beneficial interest in the Exemption Area with the approval of HPD.

c. "Community Facility Space" shall mean those portions of the Exemption Area which the Regulatory Agreement requires to be devoted solely to community facility uses.

d. "Effective Date" shall mean the later of (i) the date of conveyance of the Exemption Area to the HDFC, or (ii) the date that HPD and the Owner enter into the Regulatory Agreement.

e. "Exemption" shall mean the exemption from real property taxat...

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