WEBVTT

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Okay, I'm going to start the public hearing my name is Jack space executive director for the industrial development agency.

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With me as Richard and my ears, I believe.

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You got both of us. Oh, wonderful. How are you ladies today? Okay.

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Okay, so I'm going to be the public hearing notice.

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And then, um, barring any comments, which I.

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I am going to doubt that we're well, we will have.

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Then I will close it in 15 minutes and, uh, we will be done. So Johnson park, green living on behalf of itself and, or the principles of Johnson park green living LLC.

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And or an entity formed, or to be formed on behalf of any other for going.

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And Johnson park, green, living, housing, development, fund Corporation, housing development.

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Funding company formed pursuant to article 11 over the product.

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Housing finance law over the state of New York in section. 402 of the.

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Uh,

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not for profit corporation law have applied to the city of Munich,

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industrial development agency to enter into a lease lease back transaction in which the agency will assist in 1,

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acquisition of those certain parcels of land located at 204,

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Leah street.

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Uh, 1300 to 13 and 1304 West street.

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13 or 6, West street. 308 88 West street.

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2 through 4 Johnson Square.

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6,000 square 8 Johnson square 14 Johnson square 16 Johnson square 1413 West street 1417 West street 1419 1 street 421, West street 4,500 Miller street 428 Miller.

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Street 1413 or 1430 Miller street and 200 square street in the city of accounting in New York.

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And the vacant residential homes, and, or other buildings located, they are on.

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2 demolition of the existing improvements 3, construction of 3 buildings.

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Uh, measuring 50,000 square foot plus or .

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In the aggregate plus or minus square feet in the aggregate containing 62 residential units and 1 community building, measuring 12000+or .

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1000 square feet and 4 acquisition into installation of furniture fixtures and equipment in the improvements all to be used for the purpose of providing affordable housing and services to vulnerable populations.

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Um.

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The facility will be initially operated by the company.

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The will own the facility as nominee for the company and will together with the company,

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enter into a lease back lease,

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lease back transaction for the limited purpose of granting the lease hold interest to and accepting at least hold interest back from the agency.

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The company and the will lease the facility to the agency for a term of approximately 32 years.

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The agency will lease the facility back to the company for the lease term and the company will further sublease the facility to residential tenants. We determine from time to time.

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At the end of the lease term, the agency will terminate it's lease hold.

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Interest in the facility, the agency contemplates that it will provide financial assistance to the company in the form of a.

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Of real property tax for a period of 32 years.

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Which financial assistance is a deviation of the agencies uniform, tax exemption policy to be more particularly described in a final authorizing resolution to be adopted by the agency. Prior to the closing of the transactions described here.

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That was question reading. Well, I tried to get through it as fast as possible and trying to get you folks down and out the door.

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Okay, yeah, I was very, very grateful.

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Let me see you and you everyone.

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It's taken what years and years like, it's getting ready to happen.

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And we're very happy to help you.

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Thank you.

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Okay.

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Hello.

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Okay.

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Okay, everyone being that there is no comments. I will close the public hearing.

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Thank you you're welcome. You're welcome. Have a great day and be blessed.

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All right Thank you. Bye. Bye. Bye. Bye. Bye.