URBAN DEVELOPMENT ACTION AREA PROJECT
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:
Address Block/Lot(s)
1214-1228 Jerome Street 4452 / 208-215 (previously p/o Lot 170)
419-405 Schroeders Avenue 4452 / 216-223 (previously p/o Lot 170)
1235-1219 Jerome Street 4452 / 240-248 (previously p/o Lot 170)
714-728 Walker Street 4452 / 253-260 (previously p/o Lot 170)
412-424 Schroeders Avenue 4452 / 377-383 (previously p/o Lot 170)
430-456 Schroeders Avenue 4452 / 384-397 (previously p/o Lot 170)
458-460 Schroeders Avenue 4452 / 398-399 (previously p/o Lots 170 & 400)
462-468 Schroeders Avenue 4452 / 402-405 (previously p/o Lot 400)
474-494 Schroeders Avenue 4452 / 406-416 (previously p/o Lot 400)
507-491 Schroeders Avenue 4452 / 451-459 (previously p/o Lot 400)
489-485 Schroeders Avenue 4452 / 461-463 (previously p/o Lot 400)
Under HPD’s Brooklyn Nehemiah Program, a housing development fund company formed by East Brooklyn Congregations Sponsoring Committee, Inc. purchases City-owned vacant land and constructs one-family homes, two-family homes, and condominiums/cooperatives in order to provide affordable homeownership opportunities. Construction and permanent financing is provided through loans from private institutional lenders and from public sources including HPD. The newly constructed buildings provide homeownership housing to low-income families. The City provides tax exemption for the homes pursuant to Section 696 of the General Municipal law.
Under the proposed project, the City will sell the Disposition Area to Nehemiah Spring Creek Affordable Homeownership Housing Development Fund Company, Inc. (“Sponsor”) for the nominal price of one dollar per home. The Sponsor will also deliver an enforcement note and mortgage for the remainder of the appraised value (“Land Debt”). A portion of the Land Debt for the homes may be forgiven or unsecured based on the homes’ post-construction appraised value. The Sponsor will then construct up to 56 one-family and 27 two-family homes, containing a total of up to 110 dwelling units, for sale to eligible purchasers.
The appraisal and the proposed Land Disposition Agreement are available for public examination at the office of HPD, 100 Gold Street, Room 5-A4, New York, New York on business days during business hours.
PLEASE TAKE NOTICE that a public hearing will be held on June 22, 2016 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.
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 seven (7) business days prior to the public hearing. TDD users should call Verizon relay services.