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<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 (&quot;HPD&quot;) of the City of New York (&quot;City&quot;) has proposed the sale of the following City-owned property (collectively, &quot;Disposition Area&quot;) in the Borough of 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(s)</u></p> <p> 1490 Southern Boulevard&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; 2981/14</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 the Senior Affordable Rental Apartments (&quot;SARA&quot;) Program, HPD provides gap financing in the form of low interest loans to support the construction and renovation of affordable housing for low income seniors.&nbsp; Projects developed with SARA funding must also set aside 30% of units for homeless seniors referred by a City or State agency, typically the New York City Department of Homeless Services.</p> <p> &nbsp;</p> <p> HPD has designated 1490 Southern Owner LLC (&quot;Sponsor&quot;) as qualified and eligible to purchase and redevelop the Disposition Area under the Senior Affordable Rental Apartments Program.&nbsp; HPD proposes to sell the Disposition Area to the Sponsor at the nominal price of One Dollar per tax lot pursuant to Article 16 of the General Municipal Law.&nbsp; The Sponsor will also deliver a note and mortgage for the appraised value of the Disposition Area, which will be payable only if the Sponsor violates the City&#39;s restrictions on the post-sale development, use, occupancy, and operation of the property.&nbsp; The Sponsor will construct a new building on the Disposition Area.&nbsp; The completed project will provide approximately 114 units for occupancy by low income seniors, plus one unit for a superintendent.</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-I, 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 May 23, 2018 at 1 Centre Street, Manhattan, Mezzanine 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> &nbsp;</p> <p> Individuals requesting sign language interpreters/translators should contact the Mayor&#39;s Office Of Contract Services, Public Hearings Unit, 253 Broadway, 9th Floor, New York, New York 10007, (212) 788-7490, no later than ten (10) business days prior to the public hearing.&nbsp; TDD users should call Verizon relay services.</p>