Omitted from the Local Law 44 report are two 100% affordable buildings that are part of the Atlantic Yards/Pacific Park project, 535 Carlton Avenue and 38 Sixth Avenue, which have benefited from $85 million and $93 million in tax-exempt financing from the New York City Housing Development Corporation (NYC HDC).
New York City Housing Preservation and Development Commissioner told Gonzalez that her agency omits projects that receive get NYC HDC help only. Stringer pointed out that NYC HDC's board includes mayoral executives, including Been (who chairs the board).
Indeed, they all seem interlinked. Regarding 535 Carlton, the 12/15/14 city press release quoted NYC HDC President Gary Rodney: "I’m proud of the work that HDC has done to help deliver on the Mayor’s promise to jump-start development at Pacific Park and bring much needed affordable housing to the community."
Here's the page on Local Law 44:
In 2012, the City Council passed Local Law 44 which requires HPD to make information available on its website about certain housing development projects receiving City financial assistance. In turn, for projects where this law applies, HPD is requiring developers to gather and submit to HPD the information on the date of closing and again with new and updated information on every January 30 and July 30 thereafter (commencing on whichever date is the first to occur after closing) until completion of construction or permanent loan closing.A “housing development project” is defined as "is funded in whole or in part by city financial assistance other than non-discretionary tax abatements or benefits approved or administered in accordance with sections 421-a or 489 of the New York state real property tax law or other similar programs." NYC HDC assistance is discretionary, non-discretionary.
“City financial assistance” is defined as "any loans, grants, tax credits, tax exemptions, tax abatements, subsidies, mortgages, debt forgiveness, land conveyances for less than appraised value, land value or other thing of value allocated, conveyed or expended by the city."
- MAYOR DE BLASIO, HPD COMMISSIONER BEEN AND HDC PRESIDENT RODNEY ANNOUNCE DEVELOPMENT TEAM THAT WILL BUILD 241 NEW AFFORDABLE APARTMENTS IN A HIGH-EFFICIENCY “PASSIVE HOUSE” DESIGN IN THE MOTT HAVEN NEIGHBORHOOD OF THE BRONX
- KEEPING NEIGHBORHOODS AFFORDABLE: MAYOR DE BLASIO AND LOCAL OFFICIALS TOUR $70 MILLION, 28-BUILDING REHABILITATION PROJECT UNDERWAY IN HARLEM
- HPD, HDC, Fordham Bedford Housing Corporation, and Enterprise Close Deal for $98.8 Million Serviam Heights Senior Housing Development