Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, notice hereby is 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 The Bronx:
|
Block |
Lot |
Address |
|
2341 |
55 |
384 Grand Concourse |
|
2700 |
09 |
1038 Rogers Place |
|
2426 |
59 |
1202 Clay Avenue |
|
2430 |
37 |
1183 Clay Avenue |
|
2430 |
43 |
1171 Clay Avenue |
|
2449 |
23 |
1129 Morris Avenue |
Under HPD's Multifamily Preservation Loan Program, sponsors purchase and rehabilitate City-owned vacant and/or occupied 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.
This is a proposed amendment (“Amended Project”) to a project previously approved by the Mayor on October 30, 2013 (Calendar 30) (“Original Project”). The Amended Project adds two (2) buildings, located at Block 2430, Lots 37 and 43 (1183 and 1171 Clay Avenue), to the Disposition Area, increases the number of buildings in the project from four (4) to six (6) and the number of units from sixty-four (64) to eighty-eight (88), and changes the Sponsor from Grand & Rogers Inc. to Grand & Rogers Housing Development Fund Company, Inc., but otherwise is the same as the Original Project.
Under the Amended Project, the City will sell the Disposition Area to Grand & Rogers Housing Development Fund Company, Inc. (“Sponsor”) for the nominal price of one dollar ($1) per tax lot. The Sponsor will deliver an enforcement note and mortgage to the City for the remainder of the Disposition Area’s appraised value (“Land Debt”). The Sponsor then will rehabilitate six (6) multiple dwellings in the Disposition Area. When completed, the project will provide approximately eighty-eight (88) rental dwelling units.
The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination at the office of HPD, Room 5-A4, 100 Gold Street; New York, New York on business days during business hours.
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.
Individuals requesting sign language interpreters should contact the Mayor's Office Of Contract Services, Public Hearings Unit, Room 915, 253 Broadway; New York, New York 10007, (212) 788-7490, no later than seven (7) business days prior to the public hearing. TDD users should call Verizon relay services.
Publication Date: May 1, 2015