This decision approves a 40-year Article XI tax exemption for a rental building in the Bronx to preserve affordable housing. The agreement includes a 15% set-aside for homeless tenants, critical renovations, and compliance with Housing Maintenance Code violations. The project targets affordability levels at various Area Median Income (AMI) thresholds, including 35%, 45%, and 55%.
Preserves 54 affordable units while providing stability for homeless tenants and addressing necessary building upgrades, supporting housing security in a high-demand area.