title
ORDER AUTHORIZING THE CITY OF NEW HAVEN, ACTING THROUGH THE LIVABLE CITY INITIATIVE, TO NEGOTIATE AND ENTER INTO CONTRACTS OF SALE WITH RESPECT TO THE NEW CONSTRUCTION PROPERTIES LOCATED AT 15 THOMPSON STREET, 23 THOMPSON STREET, 27 THOMPSON STREET, 523 WINCHESTER AVENUE, 531 WINCHESTER AVENUE, 532 WINCHESTER AVENUE, 535 WINCHESTER AVENUE, 539 WINCHESTER AVENUE AND 575 WINCHESTER AVENUE AUTHORIZING THE MAYOR OF THE CITY OF NEW HAVEN TO EXECUTE AND DELIVER ANY AND ALL NECESSARY DOCUMENTS TO COMPLETE THE SALES OF SAID PROPERTIES
body
WHEREAS: the City of New Haven ("the City") is the owner/developer of nine (9) new construction structures at 15 Thompson Street, 23 Thompson Street, 27 Thompson Street, 523 Winchester Avenue, 531 Winchester Avenue, 532 Winchester Avenue, 535 Winchester Avenue, 539 Winchester Avenue and 575 Winchester Avenue, in the Newhallville neighborhood (the "Properties") which Properties were acquired by the City through tax foreclosure and which Properties have been vacant land for over ten (10) years;
WHEREAS: the City has carried out the new construction work at the Properties with State of Connecticut grant funding known as Neighborhood Renewal Program 2 funding leveraged with City of New Haven non-federal funding. The sales prices of the Properties will represent the residential development within this portion of the Newhallville neighborhood, by way of commencing a revival of the neighborhood's original character as a mixed income homeownership neighborhood; and
WHEREAS: the construction of the Properties is due to be completed on or before January 1, 2021 and the Properties have been aggressively marketed, however, it is easier for potential purchasers to obtain funding from a lending institution when a sales contract contains no other approval contingency on the part of the Seller; and
WHEREAS: the City proposes to sell six (6) Properties at a purchase price of $215,000 for homebuyers at 100% AMI and under and three (3...
Click here for full text