The New York City Council - File #: Res 0392-2018

• File #: Res 0392-2018
• Version: *
• Name: LU 103 - Planning, Hudson Piers II, Manhattan (20185358 HAM)
• 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 new tax exemption pursuant to Article XI of the Private Housing Finance Law and termination of the prior tax exemption for property located at Block 2072, Lot 30 and Block 2073, Lot 29, Community District 9, Borough of Manhattan, (L.U. No. 103; Non-ULURP No. 20185358 HAM).
• Sponsors: Rafael Salamanca, Jr., Ben Kallos

Date	Ver.	Action By	Action	Result
6/7/2018	*	City Council	Approved, by Council	Pass
6/5/2018	*	Committee on Land Use	Approved by Committee

THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 392

Title
Resolution approving a new tax exemption pursuant to Article XI of the Private Housing Finance Law and termination of the prior tax exemption for property located at Block 2072, Lot 30 and Block 2073, Lot 29, Community District 9, Borough of Manhattan, (L.U. No. 103; Non-ULURP No. 20185358 HAM).
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 a new real property tax exemption pursuant to Section 577 of the Private Housing Finance Law (the "Tax Exemption Request") and termination of the prior exemption for property located at Block 2072, Lot 30 and Block 2073, Lot 29, Community District No. 9, Borough of Manhattan, Council District No. 7 (the "Exemption Area");

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. Approve the exemption from real property taxation pursuant to Section 577 of the Private Housing Finance Law as follows:

a. For the purposes hereof, the following terms shall have the following meanings:

(1) "Current Owner" shall mean 141st Street Associates.

(2) "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 New Owner enter into the Regulatory Agreement.

(3) "Exemption Area" shall mean the real property located in the Borough of Manhattan, City and State of New York, identified as Block 2072, Lot 30 and Block 2073, Lot 29 on the Tax Map of the Ci...