The New York City Council - File #: Res 0192-2018

• File #: Res 0192-2018
• Version: *
• Name: LU 24 - Jamaica Crossing 147-18 Archer Avenue, Queens
• Type: Resolution
• Status: Adopted
• File created: 2/15/2018
• In control: Committee on Finance
• On agenda: 2/15/2018
• Final action: 2/15/2018
• Title: Resolution approving an amendment to a previously approved exemption from real property taxes for property located at (Block 9998, Lots 83, 86, 87, 88, 89, 90, and 91) Queens, pursuant to Section 577 of the Private Housing Finance Law (L.U. No. 24).
• Sponsors: Daniel Dromm

Date	Ver.	Action By	Action	Result
2/15/2018	*	City Council	Approved, by Council	Pass
2/15/2018	*	Committee on Finance	P-C Item Approved by Committee with Companion Resolution

THE COUNCIL OF THE CITY OF NEW YORK
RES. NO. 192

Title
Resolution approving an amendment to a previously approved exemption from real property taxes for property located at (Block 9998, Lots 83, 86, 87, 88, 89, 90, and 91) Queens, pursuant to Section 577 of the Private Housing Finance Law (L.U. No. 24).
Body

By Council Member Dromm

WHEREAS, the New York City Department of Housing Preservation and Development ("HPD") submitted to the Council its request dated January 16, 2018 that the Council amend a previously approved tax exemption for property located at (Block 9998, Lots 83, 86, 87, 88, 89, 90, and 91) Queens ("Exemption Area"):

WHEREAS, HPD's request for amendment is related to a previously approved Council Resolution adopted on November 24, 2015 (Res. 916) (the "Prior Resolution") granting the Exemption Area an exemption from real property taxation pursuant to Section 577 of the Real Property Tax Law, as amended by a Resolution adopted on December 15, 2016 (Res. 1336) (the "Second Prior Resolution");

WHEREAS, HPD is requesting that the Prior Resolution be amended to clarify that the community facility portion of the project is not exempt from taxation;

RESOLVED:

The Council approves the amendments to the Prior Resolution requested by HPD for the Exemption Area pursuant to Section 577 of the Private Housing Finance Law as follows:

Paragraph 2 of the "Resolved" section of the Prior Resolution is deleted and replaced with the following:

2. All of the value of the property in the Exemption Area, including both the land and any improvements (excluding those portions, if any, devoted to business, commercial or community facility use) shall be exempt from real property taxation, other than assessments for local improvements, for a period commencing upon the Effective Date and terminating upon the Expiration Date.

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