Public Hearings · Property Disposition · Housing Preservation and Development
Beach Green North
- Agency
- Housing Preservation and Development
- Published
- 2015-05-01T00:00:00.000
- Event
- 2015-06-10T01:00:00.000
Notice text
<p align='center'> <strong>PUBLIC NOTICE</strong></p> <p align='center'> </p> <p align='center'> <strong>CITY OF NEW YORK</strong></p> <p align='center'> <strong>DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT</strong></p> <p> </p> <p> Pursuant to Article 15 of the General Municipal Law ("GML") and Section 1802(6)(j) of the Charter, notice is hereby given that the Department of Housing Preservation and Development ("HPD") of the City of New York ("City") has proposed the sale of certain real property in the Edgemere Urban Renewal Area ("Area") to HP Beach Green North Housing Development Fund Company, Inc., the sponsor designated by HPD ("Sponsor"), for redevelopment in accordance with the Edgemere First Amended Urban Renewal Plan ("Plan") for the redevelopment of the Area.</p> <p> </p> <p> The property to be sold is located in the Borough of Queens, City and State of New York, and known as:</p> <p> </p> <p> <u>Address</u> <u>Block/Lot</u></p> <p> 45-05 Rockaway Beach Boulevard 15853/48 </p> <p> </p> <p> </p> <p> on the Tax Map of the City ("Disposition Area").</p> <p> </p> <p> Under HPD's Mixed Income Program: Mix & 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. 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. Additional funding may also be provided from the syndication of low-income housing tax credits. The newly constructed or rehabilitated buildings provide rental housing affordable to the targeted income groups.</p> <p> </p> <p> The City proposes to sell the Disposition Area HP Beach Green North Housing Development Fund Company, Inc. ("Sponsor") for the nominal price of one dollar per tax lot pursuant to Section 507(2)(d) of the GML. The Sponsor will also deliver an enforcement note and mortgage for the remainder of the appraised value (“Land Debt”). The Sponsor will then construct one seven-story building containing a total of 100 rental dwelling units, plus one unit for a superintendent, and approximately 486 square feet of commercial space on the Disposition Area.</p> <p> </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. The remaining balance, if any, may be repayable at the end of the enforcement mortgage term.</p> <p> </p> <p> The proposed Land Disposition Agreement and the Plan 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> </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 10:00 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> </p> <p> Individuals requesting sign language interpreters should contact the Mayor's Office Of Contract Services, Public Hearings Unit, 253 Broadway, Room 915, New York, New York 10007, (212) 788-7490, no later than five (5) business days prior to the public hearing. TDD users should call Verizon relay services.</p> <p> </p> <p> </p> <p> Publication Date: May 1, 2015</p> <p> </p> <p> </p>