## EDUCATIONAL FACILITIES AND DAY CARE CENTER

A 1,200 to 1,800 student school is proposed to be constructed by the UDC to serve residents of the project. It is expected that between 500 and 800 seats in this school will be available to the children of the adjoining neighborhood where schools are generally overcrowded. There will be constructed a day care center for 100 children to be staffed and maintained by the Human Resources Administration's Department of Social Services.

## COSTS AND CONSTRUCTION

The total estimated project cost is $62,700,000. Construction is scheduled to begin in the Fall of 1970. It is estimated that the development will require two years to complete.

## FINANCING

UDC will create a subsidiary housing company that will obtain mortgage financing from the NYS Housing Finance Agency. Interest on this (40 year) State mortgage will be reduced to one per cent using Federal Housing Administration Section 236 mortgage interest reduction payments. Tax revenues will be based on 10% of shelter* rent.

## OWNERSHIP

The development will be owned by a limited profit housing company formed by UDC under Article 2 of the New York State Private Housing Finance Law. The owner will be required to tenant these apartment units according to the income eligibility requirements of the financing agencies.

*Shelter rent = rent revenues minus utility costs

## THE STATE OF NEW YORK

Hon. Nelson A. Rockefeller, Governor

## NEW YORK STATE URBAN DEVELOPMENT CORPORATION

George D. Woods, Chairman

D. David Brandon

Peter J. Brennan

Dr. Kenneth B. Clark

William T. Dentzer, Jr.

Neal L. Moylan

Richard E. Stewart

George R. Williams

Whitney M. Young, Jr.

Edward J. Logue, President & Chief Executive Officer

## NEW YORK CITY REGIONAL OFFICE — UDC

Robert M. Litke, Regional Director

## ARCHITECTS

Davis, Brody & Associates
130 East 59th Street
New York, New York 10022

## THE CITY OF NEW YORK

Hon. John V. Lindsay, Mayor

Hon. Robert Abrams, Bronx Borough President

Donald H. Elliott, Chairman, New York City Planning Commission

Albert A. Walsh, Administrator, Housing and Development Administration

## NEW YORK COUNCIL OF PARKS AND OUTDOOR RECREATION

Laurance S. Rockefeller, Chairman

## NEW YORK STATE PARK COMMISSION FOR THE CITY OF NEW YORK

M. Frederik Smith, Chairman

S. J. Schulman, General Manager

John Bagley, Director of Planning and Development

## HARLEM RIVER PARK COMMUNITY ADVISORY COMMITTEE

Julius J. Richman, Chairman

Dr. W. Lewis Hyde, Secretary

Professor Abraham Abramowitz

Assemblyman Alexander Chananau

Stanley C. Grant

William D. Karson

Floyd N. Patterson

Mrs. Antonia Vazquez

Reverend David Wayne

Mrs. Doris Wetzel

George M. Zoebelein

ANNUAL INCOME LIMITS FOR
INITIAL OCCUPANCY

| Number of Bedrooms | Number of Persons | 70% of Units Section 236 | Basic Rent* | Rent Supplement for Low-inc, Occupancy | Max. Rent** |
|---|---|---|---|---|---|
| 0 | 1 | $ 7,000 | $128.78/mo. | $4,320 | $ 90.00/mo. |
| 1 | 2 | 8,450 | 155.48/mo. | 5,472 | 113.96/mo. |
| 2 | 3-4 | 9,950 | 183.08/mo. | 6,336 | 131.98/mo. |
| 3 | 5-6 | 11,450 | 210.67/mo. | 7,500 | 156.25/mo. |
| 4 | 7+ | 12,900 | 237.36/mo. | 7,500 | 156.25/mo. |

*Includes utilities. Eligible tenants pay either basic rent or 25% of income whichever is higher.

**Includes utilities. Eligible tenants are required to pay 25% of income as rent. Rent supplements will make up the difference between the basic rents and those paid by tenants.

While the initial lease will reflect the above
income limitations, future family incomes
in excess of the above amounts will result
in rental adjustments rather than termina-
tion of tenancy.

WHO WILL BUILD, OWN AND
MAINTAIN HRPH?

The development will be owned and man-
aged by a limited profit housing company
formed by UDC under Article 2 of the New
York State Private Housing Finance Law.
The owner will be required to tenant these
apartment units according to the income
eligibility requirements of the financing
agencies as outlined above. The project
will enjoy all of the services the City of
New York normally provides, e.g., sanita-
tion, fire, police, etc.

WHAT WILL HRPH PAY IN REAL
ESTATE TAXES?

The real estate taxes generated by this
development will be based on 10% of rent
revenues less the cost of utilities which
should amount to about $400,000 per
annum. Real estate taxes presently gen-
erated by the land are only about $25,000.

WILL HRPH IMPOSE A BURDEN ON
THE LOCAL SCHOOL DISTRICT?

Rather than impose a burden, this devel-
opment will help to reduce pupil over-
loads in the generally overcrowded
schools of the district. A 1,200 to 1,800
student school is proposed to be con-
structed by the UDC to serve residents of