title
ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN, AUTHORIZING THE CITY OF NEW HAVEN, TO CONVEY THOSE PROPERTIES KNOWN AS 29 KENSINGTON STREET, 17 KENSINGTON STREET, 21 KENSINGTON STREET, 33 KENSINGTON STREET AND 25 KENSiNGTON STREET TO THE COMMUNITY BUILDERS FOR THE PURPOSE OF THE CONSTRUCTION OF AFFORDABLE HOUSING AND AUTHORIZING THE MAYOR OF THE CITY OF NEW HAVEN TO EXECUTE AND DELIVER ANY AND ALL NECESSARY DOCUMENTS TO COMPLETE SUCH CONVEYANCE IN ACCORDANCE with the PROVISIONS OF THIS ORDER AND APPROVING THE SUBSTITUTION OF PARK PROPERTIES
body
WHEREAS: the City of New Haven (the "City") is the owner of those properties known as 17 Kensington Street, 21 Kensington Street, 25 Kensington Street, 29 Kensington Street and 33 Kensington Street, in the Dwight neighborhood (the "Properties") which Properties are currently undeveloped; and
WHEREAS: working with the local Dwight community and the State of Connecticut Department of Housing (the "State") the City is in the process of rehabilitating and constructing affordable housing within the Dwight neighborhood pursuant to that project known as the New Kensington Square II Project (the "Project"); and
WHEREAS: the City proposes to convey the Properties to the The Community Builders ("TCB") for the sum One ($1.00) Dollar for the purposes of the Project, said conveyance is subject to a loan agreement between the City and TCB (the "Loan Agreement") pursuant to which TCB or/and affiliates of TCB created for the purposes of affordable housing financing, shall agree to (i) construct fifteen (15) affordable units (60% AMI and under) on the Properties as part of the Project, and (ii) upgrade the park amenities at the Chapel- Day Street Sitting Park located at the corner of Day Street and Chapel Street, as part of the Project, in accordance with plans and specifications approved by the Dwight community, City of New Haven Parks Department (the "Parks Department") and the New Haven Police Department, provided th...
Click here for full text