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ORDER OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN APPROVING A DEVELOPMENT AND LAND DISPOSITION AGREEMENT WITH RESPECT TO THOSE PROPERTIES KNOWN AS 69 GRAND AVENUE, 19 CLINTON AVENUE AND AN UNNUMBERED PARCEL ON PERKINS STREET, NEW HAVEN, CONNECTICUT, FORMERLY KNOWN AS THE HORACE H. STRONG SCHOOL
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WHEREAS, the City of New Haven ('City") is the owner of three (3) parcels of land, located in the City of New Haven, State of Connecticut, known as 69 Grand Avenue, 19 Clinton Avenue, and an unnumbered parcel on Perkins Street that collectively front upon Grand Avenue, Clinton Avenue, and Perkins Street in the Fair Haven Neighborhood of New Haven, Connecticut and comprising approximately 1.06 acres (collectively, the "Property") which Property was formerly known and used as the Horace H. Strong School (the "School"); and
WHEREAS, the School closed in 2010 and the buildings have remained vacant, and accordingly the City desires to put the Property to productive economic use by way of redevelopment of the same, including the development of affordable housing units thereat; and
WHEREAS, in May 2022, the City, working in coordination with the Fair Haven community, issued a request for proposals (the "RFP") seeking plans for a redevelopment of the Property, in accordance with the requirements of the City reflected, in part, through the community engagement process; and
WHEREAS, following completion of the RFP process for review of the redevelopment plans submitted to the City thereunder, in October 2022, the City selected the redevelopment plans submitted by a proposed joint venture between Pennrose, LLC and the Cloud Company, LLC (such joint venture to be a single purpose ownership entity hereafter known as the "Developer") and designated the Developer as the preferred developer to redevelop the Property in accordance with such redevelopment plans (the "Project"); and
WHEREAS, with a history of over fifty (50) years in the housing development business, Pen...
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