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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 GLENDOWER LEVEL HEIGHTS LIMITED PARTNERSHIP WITH RESPECT TO THE HEIGHTS AT WEST ROCK REDEVELOPMENT OF 34 LEVEL STREET (INCLUDING 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 Glendower Level Heights Limited Partnership (collectively the "Owners") have begun to implement plans to redevelop The Heights at West Rock located at 34 Level Street 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 revitalization effort, the Developer has been selected to carry out a certain redevelopment, known as The Heights at West Rock public housing located at 34 Level Street situated in the City of New Haven (the "Project"). The Project involves the 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 aldermen, 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...
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