Public Hearings · Property Disposition · Housing Preservation and Development
Dispositions
- Agency
- Housing Preservation and Development
- Published
- 2015-08-21T00:00:00.000
- Event
- 2015-09-21T10:00:00.000
- Address
- 22 Reade Street
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> </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 ("HPD") of the City of New York ("City") has proposed an amendment to the terms and conditions of the sale of the following City-owned properties (collectively, “Disposition Area”) in the Borough of Brooklyn:</p> <p> </p> <p> </p> <p> <u> Addresses</u> <u>Blocks/Lots</u></p> <p> 344 Bergen Street 389/27</p> <p> 348 Bergen Street 389/29</p> <p> </p> <p> </p> <p> Under HPD’s Neighborhood Construction Program (“NCP”), sponsors purchase City-owned land and HPD funds the new construction of infill rental housing with up to 30 units rented to and affordable to households earning up to 165% of Area Median Income (“AMI”). Construction and permanent financing is provided through loans from private institutional lenders and HPD.</p> <p> </p> <p> This submission is a proposed amendment (“Amended Project”) to a project previously approved by the Mayor on June 4, 2004 (Cal. No. 25) (“Original Project”). Under the Original project, HDC was to finance the development of affordable housing to middle-income families earning up to 250% of AMI through the New Housing Opportunities Program (“NHOP”). Under the Amended Project, HPD will provide financing through NCP.</p> <p> </p> <p> The Amended Project consists of the Disposition Area and an adjacent privately-owned lot at Block 389, Lot 28 (collectively, the “Project Area”). Under the Amended Project, the City will sell the Disposition Area to WHRF Bergen Street LLC (“Sponsor”) for one dollar per lot. Sponsor will then construct one building containing approximately 23 rental dwelling units plus one unit for a superintendent on the Project Area, and will develop approximately 738 square feet of the Project Area as open space (instead of 604 square feet under the Original Project). Sponsor will also deliver a note and mortgage for the remainder of the appraised value (“Land Debt”). The Land Debt will be repayable out of resale or refinancing profits for a period of thirty (30) years following completion of construction.</p> <p> </p> <p> The appraisal and the proposed Land Disposition Agreement is available for public examination at the office of HPD, 100 Gold Street, Room 5-A1, 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 9/21/15, 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>