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 an amendment to a previously approved Land Disposition Agreement for the following property (“Original Disposition Area”) in the Borough of Bronx:
Block Lots
2724 5, 42 and 103
This submission is a proposed amendment (“Amended Project”) to a project previously approved by the Board of Estimate by resolution on July 17, 1980 (Cal. No. 350), which resolution amended the project approved by the Board of Estimate on March 6, 1980 (Cal. No. 18) (as amended, the “Original Project”).
Under the Original Project, the City conveyed the Original Disposition Area to Maria Estela Houses I Associates (“Original Owner”) for the development of a housing project containing approximately two hundred thirty-five (235) units of rental housing. The Original Owner subsequently transferred the Original Disposition Area to PRC Westchester Avenue LLC (“Current Owner”).
Under the Amended Project, Current Owner proposes to subdivide the Original Disposition Area into parcels and will lease the parcels (or the condominium units comprised of the parcels and the improvements constructed thereon) consisting of Block 2724, Lot 5 (“Parcel A”) and the entirety of Block 2724, Lot 103 (“Parcel B,” and together with Parcel A, collectively, the “New Project Area”) to Fox-Simpson Housing Development Fund Corporation and PRC Fox Street LLC or an affiliate (collectively, “Lessee”), pursuant to 99-year leases. Lessee will construct two buildings consisting of approximately 199 residential units of housing for low income families. One building, on Parcel A, will be 8 stories and will provide approximately 119 rental units, one (1) superintendent unit and parking for 24 cars, and the second building, on Parcel B, will be 6 stories and will provide approximately 80 rental units.
Under the Amended Project, Lessee will enter into a regulatory agreement providing that (i) 50% of the units will be rented to families and individuals whose incomes do not exceed approximately 40% of area median income (“AMI”) and (ii) 50% of the units will be rented to families and individuals whose incomes do not exceed approximately 100% of AMI.
The proposed Amended Land Disposition Agreement is available for public examination at the office of HPD, 100 Gold Street, Room 5A1, New York, New York on business days during business hours.
PLEASE TAKE NOTICE that a public hearing will be held on December 7, 2016 at 1 Center Street, 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 leasing of the New Project 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 five (5) business days prior to the public hearing. TDD users should call Verizon relay services.