Notice Details

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 Queens:

 

Address                                                                          Block/Lot(s)

110-60 Wood Street                                                         10411/6

                                                                                                           

 

HPD has undertaken the Small Homes Rehab-NYCHA Program (“Program”), under which certain one- to four-family vacant homes (“Homes”) currently owned by the New York City Housing Authority (“NYCHA”) or the City will be conveyed to a not-for-profit entity to be rehabilitated and sold to low-income purchasers. The Homes owned by NYCHA were originally acquired by the federal government as a result of mortgage foreclosures.  NYCHA acquired the Homes from the federal government for the purpose of providing affordable housing opportunities.

 

HPD has designated Restoring Urban Neighborhoods, LLC ("Sponsor") as qualified and eligible to purchase and redevelop the Disposition Area under the Small Homes Rehab-NYCHA Program. HPD proposes to sell the Disposition Area to the Sponsor at the nominal price of one dollar per tax lot. The Sponsor will then rehabilitate one Home in the Disposition Area.  Construction will be financed by a combination of private loans, developer equity and government funding. The City will provide a tax exemption for the Home under Section 696 of the General Municipal Law.  Upon completion, Sponsor will sell the Home to a qualified purchaser earning no more than 120% of the area median income. The purchaser will sign an enforcement note and mortgage to HPD in the amount of HPD financing attributable to their Home and will be required to occupy the Home as their primary residence for at least twenty (20) years.

 

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.

 

PLEASE TAKE NOTICE that a public hearing will be held on October 11, 2017 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.