senate Bill S5118

2013-2014 Legislative Session

Provides property exemption for Lot # 275 in Richmond for the conversion to multiple dwellings to eliminate fire and health hazards

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Archive: Last Bill Status - STRICKEN


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 28, 2014 recommit, enacting clause stricken
Jan 08, 2014 referred to local government
returned to senate
died in assembly
Jun 24, 2013 referred to real property taxation
Jun 21, 2013 delivered to assembly
passed senate
ordered to third reading cal.1614
committee discharged and committed to rules
May 10, 2013 referred to local government

Votes

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S5118 - Bill Details

See Assembly Version of this Bill:
A7645
Current Committee:
Law Section:
Real Property Taxation

S5118 - Bill Texts

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Provides property exemption for Lot No. 275 in Richmond for the conversion to multiple dwellings to eliminate fire and health hazards.

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BILL NUMBER:S5118

TITLE OF BILL: An act in relation to tax exemptions for conversions
to multiple dwellings to eliminate fire and health hazards

PURPOSE:

This bill would permit a commercial building converting to a multiple
dwelling located in the county of Richmond to access J-51 benefits to
enable the completion of this partially completed housing project.

SUMMARY OF PROVISIONS:

This bill specifically identifies a project on a lot numbered 275 of
Richmond block numbered 1 to make it eligible to receive J-51 benefits
for conversion of a commercial building to a multiple dwelling.

JUSTIFICATION:

The conversion of a 1908 factory storage building to a multiple
dwelling was commenced pursuant to a work permit issued on July 16,
2004. The building is currently in a state of partial completion.
Construction was ceased because of the financial crisis and a
subsequent foreclosure proceeding. At such time, this building was
eligible for J-51 benefits. The building was bought out of foreclosure
by the current owner. To complete this unfinished project, which
constitutes a significant community eyesore, this bill is required to
re-qualify the owner for J-51 benefits. The owner acquired this
project out of foreclosure on the understanding that the 1-51 benefits
would continue to be available. The J-51 program lapsed and the new
program enacted earlier this session would not include a conversion
without substantial governmental assistance. The J-51 benefits would
make the converted units cleated by this project available to the
target market on Staten Island.

This project was prevented by the onset and continuation of the
financial crisis and the subsequent mortgage foreclosure from
accessing the benefits from J-51. It was unable to be completed within
the 36 month limit as required under RPTL ยง 489(a)(6), which this bill
is intended to cure. To allow a partially finished project to continue
to remain uncompleted when additional housing opportunities and tax
revenues are available is counterproductive. This bill would enable
this project to achieve completion and maintain a level of
affordability consistent with Staten Island residents.

CURRENT LAW:

J-51 benefits for conversions are only available where there is
substantial governmental assistance and the application is made within
four years after commencement of construction.

LEGISLATIVE HISTORY:

New bill.

FISCAL IMPLICATIONS:


None to the State.

EFFECTIVE DATE:

Immediately.

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                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5118

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 10, 2013
                               ___________

Introduced  by  Sen.  SAVINO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT in relation to tax exemptions for conversions to multiple  dwell-
  ings to eliminate fire and health hazards

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Notwithstanding any law, rule or regulation to the  contra-
ry,  the provisions of subparagraph (ii) of paragraph (b) of subdivision
17 of section 489 of the real property tax law shall not  be  applicable
to any multiple dwelling located on a lot numbered 275 of Richmond block
numbered  1,  as  such lot and block is numbered as of the date this act
shall have become a law, provided that the construction of such multiple
dwellings on those lots commenced pursuant to a work permit issued on or
after July 16, 2004 under New York City Department of Buildings applica-
tion #500605026-01-AL and  provided  that  such  construction  shall  be
completed  on  or  before  December 15, 2014, and provided further that,
notwithstanding any other provision of law or local regulation, benefits
granted pursuant to section 489 of the real property tax  law  for  such
multiple  dwelling  shall  be  granted  as  if construction commenced on
December 30, 2011.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10278-01-3

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