SPECIAL ORDINANCE
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS, PINEDA-ISAAC, DIAZ AND HODGES:
TO APPROVE AN AMENDMENT TO THE PREVIOUSLY AMENDED ARTICLE II AND ARTICLE XI EXEMPTION AGREEMENT, DATED AUGUST 25, 2017, BETWEEN THE CITY OF YONKERS AND THE MUNICIPAL HOUSING AUTHORITY FOR THE CITY OF YONKERS AND AUTHORIZING A THREE-YEAR ABATEMENT OF PAYMENTS IN LIEU OF TAXES.
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BE IT ORDAINED, by the City Council of the City of Yonkers as follows:
Section 1.The City Council hereby approves an Agreement authorizing an amendment (the “Amendment”) to the previously Amended Article II and Article XI Exemption Agreement (the “Exemption Agreement”), last amended August 25, 2017, between the City of Yonkers (the “City”), the Municipal Housing Authority of the City of Yonkers (“MHACY”), and the Schlobohm Housing Development Fund Corp. (“SHDFC”) substantially in the form annexed as Exhibit A.
Section 2. The Amendment to the Exemption Agreement authorized and approved pursuant to Section 1 hereof shall provide for the abatement of one hundred percent (100%) of the payments in lieu of taxes (the “PILOT payments”) otherwise payable by MHACY, or by any successor owner obligated to make such PILOT payments to the City pursuant to the 2017 Exemption Agreement with respect to the 853 dwelling units known as the Schlobohm Houses, 1-8 Schroder St., (S/B/L 2/2030/49-50), Walsh Homes, 55-97 Walsh Rd., (S/B/L 2/2026/200, 225, 250; 2/2030/300 & 325) and Flynn Manor Homes, 334 Riverdale Ave., (S/B/L 1/157/3)(collectively, the “Properties”), for the period commencing January 1, 2026 and ending December 31, 2028.
Section 3. The PILOT Payments attributable to the Properties and otherwise payable to the City during the period commencing January 1, 2026, through December 31, 2028, shall be fully abated in accordance with the Amendment. The total abatement for the period cited herein shall not exceed One Million ($1,000,000.00 Dollars). No interest, penalty, late charge or other amount shall accrue with respect to any PILOT Payment expressly abated pursuant to the Amendment.
Section 4. Except as expressly modified by the Amendment, all terms, conditions, covenants and obligations contained in the Amended Article II and Article XI Exemption Agreement dated August 25, 2017, shall remain in full force and effect. The Amendment authorized and approved herein shall apply solely to the Properties identified above and the PILOT Payments attributable thereto and shall not affect any other property, dwelling unit, PILOT obligation or amendment to the Exemption Agreement except as expressly provided in the Amendment.
Section 5. Upon expiration of the abatement period on December 31, 2028, the obligation to make PILOT Payments attributable to the Properties shall resume commencing January 1, 2029, in accordance with the 2017 Exemption Agreement, as amended.
Section 6. The Mayor of the City of Yonkers is hereby authorized to execute the Agreement on behalf of the City, substantially in the form annexed hereto as Exhibit A, with such non-substantive changes as may be approved by the Corporation Counsel. The Corporation Counsel, Commissioner of Finance, City Clerk and such officers and employees of the City as may be necessary or appropriate are hereby authorized to execute and deliver all documents and take all actions necessary or appropriate to effectuate the purposes of this Special Ordinance and the Agreement.
Section 7. The Agreement approved herein shall become effective upon execution and delivery by the duly authorized representatives of the City, MHACY and SHDFC and shall provide for the PILOT abatement retroactively effective as of January 1, 2026.
Section 8. If any provision of this Special Ordinance or the application thereof to any person, property or circumstance is held invalid, such invalidity shall not affect any other provision or application of this Special Ordinance which can be given effect without the invalid provision or application.
Section 9. This Special Ordinance shall take effect immediately upon adoption and approval in accordance with the Charter of the City of Yonkers and applicable law.