The project grants a 40-year property tax exemption for 537 West 149th Street Housing Development Fund Corporation. The exemption supports the preservation and rehabilitation of one co-op building containing 35 residential units. HPD's approval facilitates moderate rehabilitation, energy efficiency upgrades, and the execution of a regulatory agreement, ensuring long-term affordability for low-income residents.
The exemption secures affordable homeownership opportunities in Manhattan, promoting long-term stability and improved living conditions for residents of this community.