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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 EASTVIEW TERRACE LLC AND EASTVIEW TERRACE PHASE 1 RESYNDICATION, LLC, WITH RESPECT TO THE REDEVELOPMENT OF 145 EASTERN STREET (PHASE ONE) (INCLUDING A TAX ABATEMENT PURSUANT TO ?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"), Eastview Terrace LLC, and Eastview Terrace Phase 1 Resyndication,
LLC (collectively the "Owners") have begun to implement plans to re-syndicate Phase 1
Eastview Terrace located in the City of New Haven, Connecticut using funds received from the
United States Department of Housing and Urban Development, together with other funding
sources; and
WHEREAS, pursuant to the re-syndication effort, the Developer has been selected to
carry out a certain rehabilitation, at that location known as Eastview Terrace situated in the City
of New Haven (the "Project"). The Project involves ownership, operation, management,
construction, and maintenance of development property; 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 contracts for the city
with owners of low and moderate income housing, granting abatement, in whole or in part, of
the taxes on the real estate used for such low and moderate income housing, or which provides
for a payment or payments in lieu of taxes, or both, provided that any such agreement does not
remain in effect for a period greater than thirty nine (39) years (a "Tax Agreement"); and
WHEREAS, the Developer has submitted a proposed Cooperation Agreement between
the City of New Haven, HANH, Owners and the Developer pursuant to which the Developer
agrees to undertake and complete the Project and the City...
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