Public Hearings · Property Disposition · Housing Preservation and Development
Disposition
- Agency
- Housing Preservation and Development
- Published
- 2018-05-25T00:00:00.000
- Event
- 2018-06-27T01:00:00.000
- Address
- 1 Centre Street
Notice text
<p align='center'> <strong>PUBLIC NOTICE</strong></p> <p align='center'> </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 the sale of the following City-owned property (collectively, "Disposition Area") in the Borough of Brooklyn:</p> <p> </p> <p> <u>Address</u> <u>Block/Lot(s)</u></p> <p> </p> <p> 1926 Mermaid Avenue 7060/1</p> <p> 1924 Mermaid Avenue 7060/3</p> <p> 1922 Mermaid Avenue 7060/4</p> <p> 1918 Mermaid Avenue 7060/5</p> <p> 1914 Mermaid Avenue 7060/7</p> <p> 1912 Mermaid Avenue 7060/8</p> <p> 1910 Mermaid Avenue 7060/9</p> <p> 2914 West 19 Street 7060/14</p> <p> 2918A West 19 Street 7060/16</p> <p> 2920 West 19 Street 7060/17</p> <p> 2924 West 19 Street 7060/18</p> <p> 2934 West 19 Street 7060/21</p> <p> 2936 West 19 Street 7060/22</p> <p> 1901 Surf Avenue 7060/24</p> <p> 1905 Surf Avenue 7060/27</p> <p> 1917 Surf Avenue 7060/32</p> <p> 1929 Surf Avenue 7060/35</p> <p> 2923 West 20 Street 7060/44</p> <p> 2921 West 20 Street 7060/45</p> <p> 2919 West 20 Street 7060/46</p> <p> 2917 West 20 Street 7060/47</p> <p> 2922 West 19 Street 7060/48</p> <p> 2918 West 19 Street 7060/49</p> <p> 1914R Railroad Avenue 7060/50</p> <p> 1916R Railroad Avenue 7060/51</p> <p> 1920 Mermaid Avenue 7060/147 </p> <p> </p> <p> Under HPD's Extremely Low and Low Income Affordability Program, sponsors purchase City-owned or privately owned land or vacant buildings and construct multifamily buildings in order to create affordable rental housing. 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 buildings provide rental housing to low-income families with a range of incomes from 30% to 60% of the Area Median Income (“AMI”). Projects may include a tier of units with rents affordable to households earning up to 100% of AMI. Subject to project underwriting, up to 30% of the units may be rented to formerly homeless families and individuals.</p> <p> </p> <p> Under the proposed project, the City will sell the Disposition Area to Coney Island Phase 1 Housing Development Fund Corporation ("Sponsor") for the nominal price of one dollar per tax lot. 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 building containing a total of approximately 445 rental dwelling units, plus one unit for a superintendent, and approximately 83,888 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 forgiven at the end of the term.</p> <p> </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> </p> <p> PLEASE TAKE NOTICE that a public hearing will be held on June 27, 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> </p> <p> Individuals requesting sign language interpreters/translators should contact the Mayor'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. TDD users should call Verizon relay services.</p>