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<p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> PLEASE TAKE NOTICE that a public hearing will be held on February 13 2019 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 disposition of the real property identified below.</p> <p> &nbsp;</p> <p> Pursuant to Section 1802(6)(j) of the Charter, 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 the Bronx:</p> <p> &nbsp;</p> <p style='460.8px;'> <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; <u>Block/Lot(s)</u></p> <p> &nbsp;</p> <p> 1836 Belmont Ave &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Block 2945/Lot 65</p> <p> &nbsp;</p> <p style='320px;'> 1840 Belmont Ave &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Block 2945/Lot 66 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</p> <p> &nbsp;</p> <p style='320px;'> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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> Under HPD&#39;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.&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 buildings provide rental housing to low-income families with a range of incomes from 30% to 60% of the Area Median Income (&ldquo;AMI&rdquo;).&nbsp; Projects may include tiers of units with rents affordable to households earning up to 100% of AMI.&nbsp; Subject to project underwriting, up to 30% of the units may be rented to formerly homeless families and individuals.</p> <p> &nbsp;</p> <p> Under the proposed project, the City will sell the Disposition Area to HP Belmont Cove Housing Development Fund Company, Inc. (&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 approximately 157 rental dwelling units, plus one unit for a superintendent, and approximately 19 parking spaces of which 18 will be replacement parking spaces for the Department of Health and Mental Hygiene (&ldquo;DOHMH&rdquo;), on the Disposition Area and adjacent privately owned lot (Block 2945, Lot 34).</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 at the end of the term.</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> The hearing location is accessible to individuals using wheelchairs or other mobility devices.&nbsp; For further information on accessibility or to make a request for accommodation, such as sign language interpretation services, please contact the Mayor&rsquo;s Office Of Contract Services (&ldquo;MOCS&rdquo;) via e-mail at <a>[email protected]</a> or via phone at (212) 788-0010.&nbsp; TDD users should call Verizon relay services.&nbsp; Any person requiring reasonable accommodation for the public hearing should contact MOCS at least three (3) business days in advance of the hearing to ensure availability.</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p>