The New York City Council - File #: Res 0195-2018

• File #: Res 0195-2018
• Version: *
• Name: LU 25 - Planning, Hopkinson/Park Place, Brooklyn (20185165 HAK)
• Type: Resolution
• Status: Adopted
• File created: 2/15/2018
• In control: Committee on Land Use
• On agenda: 2/15/2018
• Final action: 2/15/2018
• Title: Resolution approving a tax exemption pursuant to Section 577 of Article XI of the Private Housing Finance Law for property located at Hopkinson/Park Place (Block 1468, Lots 56 and 63), Borough of Brooklyn, (Preconsidered L.U. No. 25; Non-ULURP No. 20185165 HAK).
• Sponsors: Rafael Salamanca, Jr., Ben Kallos

Date	Ver.	Action By	Action	Result
2/15/2018	*	City Council	Approved, by Council	Pass
2/8/2018	*	Committee on Land Use	Approved by Committee

THE COUNCIL OF THE CITY OF NEW YORK
RESOLUTION NO. 195

Title
Resolution approving a tax exemption pursuant to Section 577 of Article XI of the Private Housing Finance Law for property located at Hopkinson/Park Place (Block 1468, Lots 56 and 63), Borough of Brooklyn, (Preconsidered L.U. No. 25; Non-ULURP No. 20185165 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 January 19, 2018 its request dated January 16, 2018 that the Council approve an exemption from real property taxes pursuant to Section 577 of Article XI of the Private Housing Finance Law (the "Tax Exemption Request") for property located at Hopkinson/Park Place (Block 1468, Lots 56 and 63), Community District No. 16, Borough of Brooklyn, Council District No. 41 (the "Exemption Area");

WHEREAS, upon due notice, the Council held a public hearing on the Tax Exemption Request on February 6, 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 Habitat Latent LLC or a limited liability company that acquires the beneficial interest in the Exemption Area with the approval of HPD.

b. "Effective Date" shall mean February 10, 2017.

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 1468, Lots 56 and 63 on the Tax Map of the City of New York.

e. "Expiration Date" shall mean the earlier to occur of (i) a date which is forty (40) years from the Effect...