PRESENTATION
Proposed actions and land use details for the MHANY project
0:06:46
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71 sec
Carl Hedman outlines the proposed actions and land use details for the MHANY Multifamily Preservation Loan Program project. This includes the designation of the project, property transfer, and tax exemption requests.
- Applicant: New York City Department of Housing Preservation Development
- Actions include UDAA designation, UDAAP approval, and disposition of city-owned property
- Properties to be sold to MHANY Management LLC for $1 per property
- Article XI tax exemption and 40-year regulatory agreement requested
Carl Hedman
0:06:46
The proposed action today, the applicant is the New York City Department of Housing Preservation Development.
0:06:53
As mentioned previously, these buildings are part of the multifamily preservation loan program, MPLP.
0:06:59
Which designates qualified sponsors to purchase and rehabilitate city owned vacant and or occupied multifamily and mixed use buildings in order to create lower to moderate income rental housing.
0:07:11
At closing, the properties will be sold to the sponsor, many mothergas and LLC for a nominal $1 price per property.
0:07:18
The property manager will be many management, and the land use actions today are an urban development action area designation.
0:07:27
And an urban development action area project, UDPAP approval.
0:07:31
The disposition of city owned development sites, so the blocks of 473572250250 8, 9, and lots, 43, 22, 10, and 20, respectively.
0:07:47
At closing, we were requesting an article of an tax exemption for the cluster of these buildings, and a 40 year regulatory agreement preserving the affordability.
0:07:55
So you can advance the next slide, please.