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PRESENTATION
Introduction and overview of the Third Party Transfer program for 2201 Davidson Avenue
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Arvind Sindhwani from the NYC Department of Housing Preservation and Development presents on the Third Party Transfer (TPT) program application for 2201 Davidson Avenue in Council Member Sanchez's district. The project aims to transfer ownership and rehabilitate the building to maintain approximately 48 units of affordable housing.
- Two actions are proposed: urban development action area designation and project approval, and an article 11 tax exemption.
- The project involves transferring ownership to Neighborhood Restore HDFC as an interim owner before disposition to the prospective developer, Lemley and Wolff.
Arvind Sindhwani
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Thank you, Chair Hanks, and members of the subcommittee.
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Good morning.
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Good to see you all.
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My name is Arvind Sundwani, Executive Director of Government Affairs at the Department of Housing Preservation and Development.
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Today we'll be presenting on 2201 Davidson in council member Sanchez's district, a third party transfer application by HPD.
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Next slide.
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The proposed project is the utilization of HPD's third party transfer program to transfer ownership and responsibility for the rehabilitation of 220105 Davidson Avenue to Neighborhood Restore HDFC as the interim owner prior to the disposition to the prospective developer, Lemley and Wolff, for the purpose of maintaining approximately 48 units of affordable housing at the property.
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We have two actions before the subcommittee today.
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Number one, the urban development action area designation and project approval, as well as an article 11 tax exemption.