RESOLUTION
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS PINEDA-ISAAC, DIAZ, AND HODGES:
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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF YONKERS AUTHORIZING APPLICATION OF THE STATUTORY EXEMPTION PURSUANT TO REAL PROPERTY TAX LAW SECTION 422
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WHEREAS, the City of Yonkers (the "City") is tasked with the responsibility and burden to promote the health, safety and general welfare of the residents of the City by and among other things preventing unemployment and economic deterioration including by increasing and maintaining employment opportunities and attracting and sustaining economically sound commerce; and
WHEREAS, Section 422 of the New York State Real Property Tax Law ("RPTL") provides that projects owned by certain not-for-profit corporations organized pursuant to the New York State Not-for-Profit Corporation Law ("NPCL") are exempt from general taxation ("422 Exemption"); and
WHEREAS, certain limited profit corporations organized pursuant to Article 2 of the Private Housing Finance Law as a Not-for-Profit Mitchell Lama entity, which provides housing and auxiliary facilities exclusively for aged persons of low income, qualify for the 422 Exemption; and
WHEREAS, Sacred Heart Housing Corporation ("SHHC"), as fee owner of Finian Sullivan Tower, located at 1 Father Finian Sullivan Drive, Yonkers, New York ( Section 2, Block 2172, Lot 20 on the Official Tax Map of the City of Yonkers), is such a Not-for-Profit Mitchell Lama entity for senior Mitchell Lama purposes and accordingly, the SHHC , on behalf of the Father Finian Mitchell Lama Project has provided the attached letter certifying that it meets the conditions for an exemption from real property taxes based on its ownership and use as a Mitchell Lama subsidized and regulated housing entity and facility; and
WHEREAS, in accordance with the requirements of RPTL, the Section 422 Exemption is applicab...
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