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 Manhattan:
|
Block |
Lot |
Address |
|
1211 |
07 |
165 West 80th Street |
Under HPD's Special Projects Loan Program, sponsors purchase and rehabilitate City-owned and privately owned vacant and/or occupied multifamily buildings in order to create affordable 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.
HPD has designated 165 West 80th Street Housing Development Fund Company, Inc. ("Sponsor") as qualified and eligible to purchase and redevelop the Disposition Area under the Special Projects Loan Program. HPD proposes to sell the Disposition Area to the Sponsor at 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 will rehabilitate one (1) multiple dwelling in the Disposition Area, which includes one (1) commercial space/community facility space. Upon completion of co-operative milestones, the project will provide approximately twenty-eight (28) affordable co-operative dwelling units, plus one (1) superintendent unit.
The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination at the office of HPD, Room 5-I, 100 Gold Street; New York, New York on business days during business hours.
PLEASE TAKE NOTICE that a public hearing will be held on April 11, 2018 at 1 Centre 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 ten (10) business days prior to the public hearing. TDD users should call Verizon relay services.