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<p align='center'> <strong>CITY OF NEW YORK</strong></p> <p align='center'> <strong>DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT</strong></p> <p> &nbsp;</p> <p> Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, notice is hereby given that the Department of Housing Preservation and Development (&ldquo;HPD&rdquo;) of the City of New York (&quot;City&quot;) has a proposal to sell the following City-owned property (&quot;Disposition Area&quot;) in the Borough of the Bronx:</p> <p> &nbsp;</p> <p> <u>Address</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Block/Lot</u></p> <p> 1525 West Farms Road &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3014/45&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p> &nbsp;</p> <p> Under HPD&#39;s Mixed Income Program:&nbsp; Mix &amp; Match, sponsors purchase City-owned land or vacant buildings and construct or rehabilitate multifamily buildings in order to create affordable rental housing units with a range of affordability.&nbsp; Construction and permanent financing is provided through loans from private institutional lenders and from public sources including HPD, the New York City Housing Development Corporation, the State of New York, and the federal government.&nbsp; Additional funding may also be provided from the syndication of low-income housing tax credits.&nbsp; The newly constructed or rehabilitated buildings provide rental housing affordable to the targeted income groups.</p> <p> &nbsp;</p> <p> Under the proposed project, the City will sell the Disposition Area to MBD Compass Two A Housing Development Fund Corporation (&quot;Sponsor&quot;) for the nominal price of one dollar per tax lot.&nbsp; The Sponsor will also deliver an enforcement note and mortgage for the remainder of the appraised value (&ldquo;Land Debt&rdquo;).&nbsp; The Sponsor will then construct one building containing a total of 128 rental dwelling units on the Disposition Area and adjacent vacant land owned by the Sponsor.</p> <p> &nbsp;</p> <p> The Land Debt will be repayable out of resale or refinancing profits for a period of at least thirty (30) years following completion of construction.&nbsp; The remaining balance, if any, may be forgiven in the 30^th year.</p> <p> &nbsp;</p> <p> The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination at the office of HPD, 100 Gold Street, Room 5-A4, New York, New York on business days during business hours.</p> <p> &nbsp;</p> <p> PLEASE TAKE NOTICE that a public hearing will be held on June 10, 2015 at Second Floor Conference Room, 22 Reade Street, Manhattan at 10:30 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time and place those wishing to be heard will be given an opportunity to be heard concerning the proposed sale of the Disposition Area pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter.</p> <p> &nbsp;</p> <p> Individuals requesting sign language interpreters should contact the Mayor&#39;s Office Of Contract Services, Public Hearings Unit, 253 Broadway, Room 915, New York, New York&nbsp; 10007, (212) 788-7490, no later than five (5) business days prior to the public hearing.&nbsp; TDD users should call Verizon relay services.</p> <p> &nbsp;</p>