City of New Haven - File #: LM-2023-0090

• File #: LM-2023-0090
• Version: 1
• Type: Order
• Status: Passed
• File created: 2/13/2023
• In control: City/Town Clerk
• Title: ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN APPROVING A COOPERATION AGREEMENT BETWEEN THE CITY OF NEW HAVEN, THE HOUSING AUTHORITY OF THE CITY OF NEW HAVEN AND GLENDOWER GROUP, INC. AND GLENDOWER MCCONAUGHY TERRACE 9% LLC AND GLENDOWER MCCONAUGHY TERRACE 4% LLC, WITH RESPECT TO THE REDEVELOPMENT OF THE MCCONAUGHY TERRACE 2 SOUTH GENESEE STREET AND 436 VALLEY STREET, NEW HAVEN, CONNECTICUT (MCCONAUGHY TERRACE); AND DESIGNATING 2 SOUTH GENESEE STREET AND 436 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

Date	Ver.	Action By	Action	Result
5/15/2023	1	Board of Alders	Passed	Pass
5/1/2023	1	Board of Alders	Noted
4/25/2023	1	Joint Community Development/Tax Abatement	Favorable Report
2/21/2023	1	Board of Alders	Referred

title
ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN APPROVING A COOPERATION AGREEMENT BETWEEN THE CITY OF NEW HAVEN, THE HOUSING AUTHORITY OF THE CITY OF NEW HAVEN AND GLENDOWER GROUP, INC. AND GLENDOWER MCCONAUGHY TERRACE 9% LLC AND GLENDOWER MCCONAUGHY TERRACE 4% LLC, WITH RESPECT TO THE REDEVELOPMENT OF THE MCCONAUGHY TERRACE 2 SOUTH GENESEE STREET AND 436 VALLEY STREET, NEW HAVEN, CONNECTICUT (MCCONAUGHY TERRACE); AND DESIGNATING 2 SOUTH GENESEE STREET AND 436 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 Glendower McConaughy Terrace 9% LLC and Glendower McConaughy Terrace 4% LLC (the "Owner") have begun to implement plans to redevelop McConaughy Terrace located at 2 South Genesee Street and 436 Valley Street, New Haven, Connecticut (the "McConaughy Terrace") 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 rehabilitation of that certain public housing redevelopment known as McConaughy Terrace (the "Project") which Project involves the ownership, operation, management, reconstruction, 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 Glendower McConaughy Terrace 9% LLC and Glendower McConaughy Terrace 4% LLC, with respect to the redevelopment of the McConaughy Terrace located at 2 South Genesee Street and 436 Valley Street, New Haven, Connec...