RESOLUTION
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP ROBINSON, MINORITY LEADER BREEN, COUNCILMEMBERS, PINEDA -ISAAC, DIAZ AND MERANTE:
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RESOLUTION APPROVING AN AMENDMENT TO INTER-MUNICIPAL DEVELOPER AGREEMENT ("IMDA") FOR INFRASTRUCTURE FUNDS FROM WESTCHESTER COUNTY IN SUPPORT OF THE PROPOSED AFFORDABLE HOUSING DEVELOPMENT LOCATED AT 178 WARBURTON AVENUE and 160 COTTAGE GARDENS IN THE CITY OF YONKERS
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WHEREAS, Westchester County (the "County"), The Community Builders ("TCB") and the Municipal Housing Authority for the City of Yonkers ("MHACY"), the City of Yonkers ("together, the "Parties"), its successor or assigns, entered into an IMDA related to Housing Implementation Fund ("HIF") funding to develop 173 fair and affordable rental housing units, a park, and related amenities in the redevelopment of the property at 178 Warburton Avenue and 160 Cottage Gardens, (the "Development"); and
WHEREAS, the County committed $5,000,000.00 in HIF funding for the Development;
WHEREAS, the Parties now seek to amend the IMDA by amending the affordability requirements of ninety-two (92) of the units so that these units will be available exclusively for seniors aged sixty-two (62) and older with incomes between thirty percent (30%) and sixty percent (60%) of the Westchester County area median income ("AMI") instead of households with incomes at or below thirty percent (30%) and up to ninety percent (90%) of AMI.
WHEREAS, The County and the Developer shall be granted, if required, necessary easements for the area(s) upon which the Infrastructure Improvements shall be constructed;
WHEREAS, New York State General Municipal Law Article 5-G, Section 119-o, authorizes municipal corporations and districts to enter into agreements for the performance of various functions.
NOW, THEREFORE, BE IT RESOLVED, that the City be and hereby is authorized to enter into an amendment to the IMDA w...
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