File #: Res 0393-2018    Version: * Name: LU 104 - Planning, Culver El Phase I, Brooklyn (20185359 HAK)
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 5295, Lots 4, 104, 105, 106, 107, 108, 111, 112, and 113, Community District 12, Borough of Brooklyn, (L.U. No. 104; Non-ULURP No. 20185359 HAK).
Sponsors: Rafael Salamanca, Jr., Ben Kallos
Attachments: 1. May 23, 2018 - Stated Meeting Agenda with Links to Files, 2. Land Use Calendar - Week of May 28, 2018 - June 1, 2018, 3. Hearing Testimony - Planning 5-30-18, 4. Land Use Calendar - June 5, 2018, 5. Hearing Transcript - Stated Meeting 6-7-18, 6. Committee Report, 7. Resolution, 8. Minutes of the Recessed Stated Meeting - June 7, 2018, 9. Minutes of the Stated Meeting - June 7, 2018
THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 393

Title
Resolution approving a tax exemption pursuant to Article XI of the Private Housing Finance Law for property located at Block 5295, Lots 4, 104, 105, 106, 107, 108, 111, 112, and 113, Community District 12, Borough of Brooklyn, (L.U. No. 104; Non-ULURP No. 20185359 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 May 15, 2018 its request dated May 14, 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 5295, Lots 4, 104, 105, 106, 107, 108, 111, 112, and 113, Community District No. 12, Borough of Brooklyn, Council District No. 39 (the "Exemption Area");

WHEREAS, HPD's request is related to previously approved City Council Resolution No. 656; L.U. No. 307 of 2011 (the "Prior Resolution");

WHEREAS, upon due notice, the Council held a public hearing on the Tax Exemption Request on May 30, 2018;

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 Culver Housing Developments LLC.

b. "Effective Date" shall mean November 25, 2014.

c. "Exemption" shall mean the exemption from real property taxation provided hereunder.

d. "Exemption Area" shall mean the real property located in the Borough of Brooklyn, City and State of New York, identified as Block 5295, Lots 4, 104, 105, 106, 107, 108, 111, 112, and 113 on the Tax Map of the City of New York.

e. "Expiration Date" shall mean with respec...

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