City of New Haven - File #: LM-2023-0031

• File #: LM-2023-0031
• Version: 1
• Type: Order
• Status: Passed
• File created: 1/17/2023
• In control: City Clerk
• Title: ORDER OF THE NEW HAVEN BOARD OF ALDERS APPROVING WEST RIVER HOUSING COMPANY LLC, PROJECT NAME ROUTE 34 WEST PARCEL 1 HOUSING (MLK TYLER STREET), TAX ABATEMENT FOR THE LOW-INCOME AFFORDABLE DEVELOPMENT AT 16 MILLER STREET, NEW HAVEN, CONNECTICUT.

Date	Ver.	Action By	Action	Result
2/21/2023	1	Board of Alders	Passed	Pass
2/6/2023	1	Board of Alders	Noted
1/24/2023	1	Tax Abatement Committee	No Recommendation
1/17/2023	1	Board of Alders	Referred

...Title

ORDER OF THE NEW HAVEN BOARD OF ALDERS APPROVING WEST RIVER HOUSING COMPANY LLC, PROJECT NAME ROUTE 34 WEST PARCEL 1 HOUSING (MLK TYLER STREET), TAX ABATEMENT FOR THE LOW-INCOME AFFORDABLE DEVELOPMENT AT 16 MILLER STREET, NEW HAVEN, CONNECTICUT.

Body

WHEREAS: this project currently known as the Route 34 West Parcel 1 Housing (MLK TYLER Street); and

WHEREAS: the Property will consist of a mixed income community of 11 buildings with 44 affordable units and 12 market rate units; and

WHEREAS: West River Housing Company LLC and the City have agreed to enter into a seventeen (17) year agreement and                     

WHEREAS: West River Housing Company LLC will pay a tax amount for the 44 affordable units of $450 per year/per unit and beginning in year 3 will pay an escalation of 3% additional each year for the remainder of the 17-year agreement; and

NOW, THEREFORE, BE IT ORDERED, that the Board of Alders hereby authorizes the Mayor of the City to execute and deliver all such documentation on behalf of the City.