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HPD seeks technical correction to Ocean Crest Article 11 tax exemption; committee accepts explanation
Summary
The subcommittee heard a short, pre‑considered presentation by the Department of Housing Preservation and Development to correct property and ownership information in a prior Article 11 tax exemption resolution for a Queens project (Ocean Crest). HPD said the changes are technical: corrected HDFC names and the exemption area block/lot.
The subcommittee opened a brief pre‑considered hearing on a technical amendment to a prior City Council resolution approving an Article 11 tax exemption under Section 577 of the Private Housing Finance Law for a Queens project known as Ocean Crest. Justin Donlin, senior project manager in HPD’s government affairs division, told the committee HPD discovered errors in the previously adopted resolution’s block/lot and ownership descriptions and has submitted corrected language to identify the proper entities and parcel: Ocean Crest Homeownership Housing Development Fund Corporation; Restored Homes Housing Development Fund Corporation; TCB Beach Channel Drive Limited Partnership; and Queens Block 15744, Lot 17.
Donlin said HPD is seeking a technical correction to the council action to update the exemption area and ownership structure in the prior resolution. Committee members asked when the project expects to close; HPD said it would check with its development team and expects to close "very soon," possibly this year but did not provide a firm closing date at the hearing.
No public testimony was offered. The public hearing was closed and the item was laid over.
