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ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN AUTHORIZING THE CITY OF NEW HAVEN TO ENTER INTO A COOPERATION AGREEMENT WITH THE HOUSING AUTHORITY OF THE CITY OF NEW HAVEN AND GLENDOWER GROUP, INC. AND ECC GROUP II A RAD LLC, WITH RESPECT TO THE REDEVELOPMENT OF THE HANH RAD GROUP II A DEVELOPMENT (VALLEY TOWNHOMES); AND DESIGNATING 210-290 VALLEY STREET TO BE DEVELOPMENT PROPERTY WITHIN THE MEANING OF THE CONNECTICUT CITY AND TOWN DEVELOPMENT ACT, C.G.S § 7-480 ET SEQ., AND ELIGIBLE FOR TAX EXEMPTION PURSUANT TO C.G.S §7-498; AND PROVIDING A TAX ABATEMENT PURSUANT TO SECTION §28-4 OF THE NEW HAVEN CODE OF ORDINANCES
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WHEREAS, the Housing Authority of the City of New Haven (“HANH”) ,Glendower Group Inc. (“Developer”) and ECC Group II A LLC (the “Owner”) have begun to implement plans to redevelop Valley Townhomes located at 210-290 Valley Street, New Haven, Connecticut (the “HANH RAD Group II A Development”) using funds received from the United States Department of Housing and Urban Development, together with other funding sources; and
WHEREAS, pursuant to such revitalization effort, the Developer has been selected to carry out the certain public housing redevelopment known as HANH RAD Group II A Development (the “Project”) which Project involves the ownership, operation, management, construction, and maintenance of the development property; and
WHEREAS, the Developer has submitted that certain “City Cooperation Agreement By and Among The City of New Haven, Housing Authority of the City of New Haven, The Glendower Group, Inc., And ECC Group II A RAD, LLC With Respect to Valley Townhomes, 210-290 Valley Street, New Haven, Connecticut” (the “Cooperation Agreement”) between the City of New Haven, HANH, Owner and the Developer, pursuant to which the Developer agrees to undertake and complete the Project and the City of New Haven agrees to perform certain functions to facilitate the Project; and
WHEREAS, the Connecticut City and Town Development Act, C.G.S. §7-480 et seq., (the “Act”) authorizes the legislative body of a municipality to designate any real property located within the City to be Development Property for the purposes of the Act and to grant tax exemption to any Development Property for limited times; and
WHEREAS, the purposes of the Act include assisting in the construction of housing within the City of New Haven; and
WHEREAS, Section 28-4 of the City of New Haven Code of Ordinances provides that the Mayor may, with the approval of the Board of Alders enter into an agreement whereby real property is exempted from all or any portion of municipal property taxes or which provides for a payment or payments in lieu of taxes, provided that any such agreement does not remain in effect for a period greater than thirty nine (39) years; and
WHEREAS, pursuant to Section 28-4 of the City of New Haven Code of Ordinances the Cooperation Agreement allows for a tax agreement commencing on the issuance of the Certificate of Occupancy and continuing for thirty-nine (39) years; and
WHEREAS, the City of New Haven, HANH, Owner and the Developer propose to execute the Cooperation Agreement, copies of which are attached hereto and incorporated herein by reference; and
NOW THEREFORE, IT IS HEREBY ORDERED by the Board of Alders of the City of New Haven that the property at 210-290 Valley Street, New Haven, Connecticut, as more particularly described in the Cooperation Agreement, is designated Development Property within the meaning of the Connecticut City and Town Development Act, § 7-482(d); and that the Project is within the purposes of the Act, §7-482(k); and that the Development Property is eligible for tax exemption pursuant to §7-498 of the Act.
FURTHER, the Board of Alders of the City of New Haven approves; and the Mayor of the City of New Haven is authorized to execute the Cooperation Agreement, or a Cooperation Agreement substantially similar thereto, containing the tax agreements, on behalf of the City of New Haven, and the City-Town Clerk of the City of New Haven is authorized and directed to impress and attest the official seal of the City of New Haven upon the Cooperation Agreement.
FURTHER, the Mayor is hereby authorized and empowered to execute, acknowledge and deliver any and all other documents as may be necessary or expedient, from time to time, to implement and effect the intent and purposes set forth in the Cooperation Agreement and this Order.