421-A - Exemption of new multiple dwellings from local taxation.

§  421-a.  Exemption of new multiple dwellings from local taxation. 1.  The following terms, whenever used or referred to in this section, shall  have the following meaning, unless a different meaning  clearly  appears  in the context.    a.  "Adjusted Monthly Rent." The rent payable per month as provided in  the first effective lease or occupancy agreement upon initial  occupancy  of  a  rental  dwelling  unit  of a multiple dwelling after construction  aided by exemption under this section less the cost of providing parking  facilities and electricity, gas, cooking fuel and other utilities  other  than heat and hot water to occupants of such dwelling units.    b.  "Floor  area."  The  horizontal areas of the several floors or any  portion thereof of a dwelling or dwellings and accessory structures on a  lot measured from the exterior faces  of  exterior  walls  or  from  the  center line of party walls.    c.  "Multiple  Dwelling."  A  dwelling  which  is to be occupied or is  occupied as the residence or home  of  three  or  more  families  living  independently  of  one another, whether such dwelling is rented or owned  as a cooperative or condominium. A new multiple dwelling  shall  include  new  residential  construction and the concurrent conversion, alteration  or improvement of a pre-existing building or structure provided that (i)  for all tax lots  now  existing  or  hereafter  created,  no  more  than  forty-nine  percent of the floor area (as defined in paragraph b of this  subdivision) of the  multiple  dwelling  consists  of  the  pre-existing  building  or structure that was converted, altered or improved, and (ii)  for tax lots in the city of New York now existing or  hereafter  created  within  the  following  area  in  the  borough  of  Manhattan,  the  new  residential construction and/or the concurrent conversion, alteration or  improvement of the pre-existing building or  structure  is  aided  by  a  grant,  loan  or  subsidy  from  any  federal,  state or local agency or  instrumentality: beginning at the  intersection  of  the  United  States  pierhead line in the Hudson river and the center line of Chambers street  extended,  thence  easterly  to  the  center line of Chambers street and  continuing along the center line of Chambers street to the  center  line  of  Centre  street,  thence  southerly  along  the center line of Centre  street to the center line of the Brooklyn Bridge to the intersection  of  the  Brooklyn  Bridge  and  the  United States pierhead line in the East  river, thence northerly along the United States  pierhead  line  in  the  East  river  and  the  center line of one hundred tenth street extended,  thence westerly to the center line  of  one  hundred  tenth  street  and  continuing  along  the  center  line  of one hundred tenth street to its  westerly terminus, thence westerly to the  intersection  of  the  center  line of one hundred tenth street extended and the United States pierhead  line  in  the  Hudson  river,  thence  southerly along the United States  pierhead line in the Hudson river to the point of beginning.    d. "Room Count." Two and one-half rooms for each  dwelling  unit  plus  one  room  for  each  bedroom  plus  one  room  for each additional room  separated by either walls or doors plus one-half  room  for  a  balcony,  provided  that  kitchens, bathrooms or corridors shall not count as such  additional rooms.    2. (a) (i) Within a city having a population of one million  or  more,  new multiple dwellings, except hotels, shall be exempt from taxation for  local  purposes,  other than assessments for local improvements, for the  tax year or years immediately following taxable status  dates  occurring  subsequent   to   the  commencement  and  prior  to  the  completion  of  construction, but not to exceed three such tax years, and shall continue  to be exempt from such taxation in tax years immediately  following  the  taxable  status  date  first  occurring  after  the  expiration  of  the  exemption herein conferred during construction so long as  used  at  thecompletion  of  construction  for  dwelling purposes for a period not to  exceed ten  years  in  the  aggregate  after  the  taxable  status  date  immediately following the completion thereof, as follows:    (A)  except as otherwise provided herein there shall be full exemption  from taxation during the period of construction or the period  of  three  years  immediately  following  commencement  of  construction, whichever  expires sooner, and for two years following such period;    (B) followed by two years of exemption from eighty per  cent  of  such  taxation;    (C)  followed  by  two  years of exemption from sixty per cent of such  taxation;    (D) followed by two years of exemption from forty  per  cent  of  such  taxation;    (E)  followed  by  two years of exemption from twenty per cent of such  taxation;    The following table  shall  illustrate  the  computation  of  the  tax  exemption:                  CONSTRUCTION OF CERTAIN MULTIPLE DWELLINGS                                                     Exemption  During Construction (maximum three years)         100%  Following completion of work  Year:    1                                                100%   2                                                100   3                                                 80   4                                                 80   5                                                 60   6                                                 60   7                                                 40   8                                                 40   9                                                 20  10                                                 20     (ii)  (A) Within a city having a population of one million or more the  local housing agency may adopt  rules  and  regulations  providing  that  except  in  areas  excluded  by local law new multiple dwellings, except  hotels, shall be exempt from taxation for  local  purposes,  other  than  assessments   for   local  improvements,  for  the  tax  year  or  years  immediately following taxable status dates occurring subsequent  to  the  commencement  and  prior  to  the completion of construction, but not to  exceed three such tax years, and shall continue to be exempt  from  such  taxation  in  tax  years  immediately  following the taxable status date  first occurring after the expiration of the exemption  herein  conferred  during   such  construction  so  long  as  used  at  the  completion  of  construction for dwelling purposes for a period not  to  exceed  fifteen  years in the aggregate, as follows:    a.  except  as otherwise provided herein there shall be full exemption  from taxation during the period of construction or the period  of  three  years  immediately  following  commencement  of  construction, whichever  expires sooner, and for eleven years following such period;    b. followed by one year of  exemption  from  eighty  percent  of  such  taxation;    c.  followed  by  one  year  of  exemption  from sixty percent of such  taxation;d. followed by one year  of  exemption  from  forty  percent  of  such  taxation;    e.  followed  by  one  year  of  exemption from twenty percent of such  taxation.    (B) The benefits of this subparagraph shall not be available in  areas  made  ineligible for the benefits of this section by a local law enacted  pursuant  to  paragraph  (i)  of  subdivision  two  of   this   section,  notwithstanding  any exceptions to ineligibility contained in such local  law for certain types of projects in such areas.    (C) Unless excluded by local law, in the city of New York the benefits  of this subparagraph shall be available in the borough of Manhattan  for  tax  lots  now  existing  or  hereafter  created south of or adjacent to  either side of one hundred tenth street only if:    a. the construction is carried out with the substantial assistance  of  grants,  loans  or  subsidies from any federal, state or local agency or  instrumentality, or    b. the local housing agency has imposed a requirement or has certified  that twenty percent of the units be affordable to families  of  low  and  moderate income.    The following table shall illustrate the computation of the exemption:                            CONSTRUCTION OF CERTAIN                             MULTIPLE DWELLINGS                                                     Exemption  During Construction (maximum three years)         100%  Following completion of work  Year:   1 through 11                                     100%  12                                                 80  13                                                 60  14                                                 40  15                                                 20     (iii) (A) Within a city having a population of one million or more the  local  housing agency may adopt rules and regulations providing that new  multiple dwellings, except hotels, shall be  exempt  from  taxation  for  local  purposes,  other than assessments for local improvements, for the  tax year or years immediately following taxable status  dates  occurring  subsequent   to   the  commencement  and  prior  to  the  completion  of  construction, but not to exceed three such tax years, and shall continue  to be exempt from such taxation in tax years immediately  following  the  taxable  status  date  first  occurring  after  the  expiration  of  the  exemption herein conferred during such construction so long as  used  at  the completion of construction for dwelling purposes for a period not to  exceed  twenty-five  years  in  the aggregate, provided that the area in  which the project is situated is  a  neighborhood  preservation  program  area  as  determined  by  the  local  housing  agency  as of June first,  nineteen hundred eighty-five, or is a neighborhood preservation area  as  determined  by  the  New York city planning commission as of June first,  nineteen hundred eighty-five, or  is  an  area  that  was  eligible  for  mortgage  insurance  provided  by  the rehabilitation mortgage insurance  corporation as of May first, nineteen hundred ninety-two or is  an  area  receiving  funding  for  a neighborhood preservation project pursuant to  the neighborhood reinvestment corporation act (42 U.S.C. §§180 et  seq.)  as of June first, nineteen hundred eighty-five, as follows:    a.  except  as otherwise provided herein there shall be full exemption  from taxation during the period of construction or the period  of  threeyears  immediately  following  commencement  of  construction, whichever  expires sooner, and for twenty-one years following such period;    b.  followed  by  one  year  of  exemption from eighty percent of such  taxation;    c. followed by one year  of  exemption  from  sixty  percent  of  such  taxation;    d.  followed  by  one  year  of  exemption  from forty percent of such  taxation;    e. followed by one year of  exemption  from  twenty  percent  of  such  taxation.    (B)  The benefits of this subparagraph shall not be available in areas  made ineligible for the benefits of this section by a local law  enacted  pursuant   to   paragraph  (i)  of  subdivision  two  of  this  section,  notwithstanding any exceptions to ineligibility contained in such  local  law for certain types of projects.    (C)  Notwithstanding  the  provisions  of  item  (A)  or  (D)  of this  subparagraph, in the city of New York the benefits of this  subparagraph  shall  not  be  available  in  the borough of Manhattan for tax lots now  existing or hereafter created south of or adjacent to either side of one  hundred tenth street.    (D) In addition to being available in the areas described in item  (A)  of  this  subparagraph,  the  benefits  made  available pursuant to this  subparagraph shall be available where:    a. the construction is carried out with the substantial assistance  of  grants,  loans  or  subsidies from any federal, state or local agency or  instrumentality, or    b. the local housing agency has imposed a requirement or has certified  that twenty percent of the units be affordable to families  of  low  and  moderate income.    The following table shall illustrate the computation of the exemption:                            CONSTRUCTION OF CERTAIN                             MULTIPLE DWELLINGS                                                     Exemption  During Construction (maximum three years)         100%  Following completion of work  Year:   1 through 21                                     100%  22                                                 80  23                                                 60  24                                                 40  25                                                 20     (E)  A  new  multiple  dwelling that is situated in (1) a neighborhood  preservation program area as determined by  the  department  of  housing  preservation   and  development  as  of  June  first,  nineteen  hundred  eighty-five, (2) a neighborhood preservation area as determined  by  the  New  York  city  planning  commission as of June first, nineteen hundred  eighty-five, (3) an  area  that  was  eligible  for  mortgage  insurance  provided  by the rehabilitation mortgage insurance corporation as of May  first, nineteen hundred ninety-two, or (4) an area receiving funding for  a  neighborhood  preservation  project  pursuant  to  the   neighborhood  reinvestment  corporation  act  (42  U.S.C.  §§ 8101 et seq.) as of June  first, nineteen hundred eighty-five,  shall  not  be  eligible  for  the  benefits available pursuant to this subparagraph unless it complies with  the provisions of subdivision seven of this section.(iv)  (A)  Unless  excluded by local law, in the city of New York, the  benefits of this subparagraph shall  be  available  in  the  borough  of  Manhattan  for  new  multiple  dwellings  on  tax  lots  now existing or  hereafter created south of or adjacent to either  side  of  one  hundred  tenth  street  which  commence  construction  after July first, nineteen  hundred ninety-two and before December twenty-eighth, two  thousand  ten  only if:    a.  the construction is carried out with the substantial assistance of  grants, loans or subsidies from any federal, state or  local  agency  or  instrumentality, or    b. the local housing agency has imposed a requirement or has certified  that  twenty  percent of the units are affordable to families of low and  moderate income.    (B) Such new multiple dwellings, except hotels, shall be  exempt  from  taxation   for   local   purposes,  other  than  assessments  for  local  improvements for the tax year or  years  immediately  following  taxable  status  dates  occurring subsequent to the commencement and prior to the  completion of construction, but not to exceed three such tax years,  and  shall  continue to be exempt from such taxation in tax years immediately  following the taxable status dates first occurring after the  expiration  of  the  exemption  herein conferred during such construction so long as  used at the completion of  construction  for  dwelling  purposes  for  a  period not to exceed twenty years in the aggregate, as follows:    a.  except as otherwise provided herein, there shall be full exemption  from taxation during the period of construction or the period  of  three  years  immediately  following  commencement  of  construction, whichever  expires sooner, and for twelve years following such period;    b. followed by two years of exemption  from  eighty  percent  of  such  taxation;    c.  followed  by  two  years  of  exemption from sixty percent of such  taxation;    d. followed by two years of  exemption  from  forty  percent  of  such  taxation;    e.  followed  by  two  years  of exemption from twenty percent of such  taxation.    The following table shall illustrate the computation of the exemption:                            CONSTRUCTION OF CERTAIN                             MULTIPLE DWELLINGS   During construction (maximum three years)              Exemption 100%  Following completion of work year:                    1 through 12                         100%                      13-14                               80%                      15-16                               60%                      17-18                               40%                      19-20                               20%     (b) In addition to the taxes payable pursuant to the table above,  the  owner shall pay in each tax year in which such full or partial exemption  is in effect, real property taxes and assessments as follows:    (i) real property taxes on the assessed valuation of such land and any  improvements  thereon  in  effect  during  the  tax  year  preceding the  commencement of such construction without regard  to  any  exemption  or  abatement   from   real  property  taxation  in  effect  prior  to  such  construction which real property taxes shall be calculated  on  the  tax  rate in effect at the time such taxes are due; and    (ii) all assessments for local improvements.(c)  Such  multiple  dwellings  shall  be  eligible for exemption from  taxation pursuant to this section only if:    (i)  exemption  from  taxes  is  not availed of concurrently under any  other law and that on or after July first, nineteen hundred  seventy-six  no  preliminary certificate of eligibility or certificate of eligibility  issued under this section may be rescinded by the local  housing  agency  to  avail the property of the benefits of tax exemption or tax abatement  for rehabilitation or new construction under the provisions of any other  law, but that prior to July  first,  nineteen  hundred  seventy-six  the  local housing agency may rescind such certificates to avail the property  of  the  benefits of tax exemption or tax abatement under the provisions  of any other law;    (ii) construction is commenced after January first,  nineteen  hundred  seventy-five   and  before  December  twenty-eighth,  two  thousand  ten  provided, however, that such commencement  period  shall  not  apply  to  multiple  dwellings  eligible  for  benefits  under subparagraph (iv) of  paragraph (a) of this subdivision;    (iii) in the event that, immediately  prior  to  commencement  of  new  construction,  such  land  was  improved  with a residential building or  buildings that have since been substantially  demolished,  and  the  new  building or buildings contain more than twenty dwelling units, then such  new  construction  shall  contain  at least five dwelling units for each  class A dwelling unit in existence immediately prior to  the  demolition  preceding construction; and    (iv)  in  the  event  that  a  project contains more than 100 dwelling  units, at least 15 per cent of the dwelling units contain at least three  and one-half rooms and at least  10  per  cent  of  the  dwelling  units  contain  at  least  four  and  one-half rooms, unless a waiver from such  requirements is granted by the local housing agency based on hardship.    (d) As of July first, nineteen hundred seventy-five, if the  aggregate  floor  area  of  commercial,  community facility and accessory use space  exceeds twelve per cent of the aggregate floor area, as defined  herein,  of  any  building  granted  tax exemption pursuant to this section on or  subsequent to July first, nineteen hundred  seventy-one,  tax  exemption  shall  be  reduced  by  an amount equal to the per cent of the aggregate  floor area by which the aggregate floor area  of  commercial,  community  facility  and  accessory  use  space  exceeds  twelve  per  cent  of the  aggregate floor area of the building provided, however,  that  accessory  use  space  shall  not  include  accessory parking located not more than  twenty-three feet above the  curb  level  and  provided,  further,  that  whenever  a  building containing two or more separately assessed parcels  of real property has commercial, community facility  and  accessory  use  space  in  excess  of  such  twelve  percent, the tax arising out of the  reduction in exemption for such excess space shall  not  be  apportioned  pro  rata  among  all of the separately assessed parcels in the building  but shall be applied first to those separately  assessed  parcels  which  are  unrelated  to  the  residential use of the building; and only after  such unrelated parcels are fully taxable shall the remainder of such tax  be apportioned pro rata among the remaining separately assessed  parcels  and  provided  further, that no such exemption for commercial, community  facility and accessory use space  shall  be  applicable  prior  to  July  first, nineteen hundred seventy-five. To be eligible for exemption under  this   section  such  construction  shall  take  place  on  land  which,  thirty-six months prior to the commencement of  such  construction,  was  vacant,   predominantly  vacant,  under-utilized,  or  improved  with  a  non-conforming  use,  provided  that  if  such  new  multiple   dwelling  displaces  or  replaces  a  building  or  buildings containing more than  twenty-five  occupied  dwelling   units   in   existence   on   Decemberthirty-first,  nineteen  hundred seventy-four and administered under the  local emergency housing rent control act, the rent stabilization law  of  nineteen  hundred  sixty-nine, or the emergency tenant protection act of  nineteen  seventy-four, such new multiple dwelling shall not be eligible  in the city of New York unless a certificate of eviction has been issued  for any of the displaced  or  replaced  units  pursuant  to  the  powers  granted  by  the  city  rent  and rehabilitation law, and that the sale,  transfer or utilization of air rights over  residential  buildings  that  were  not  demolished  shall  not  be  construed  as  a  displacement or  replacement of the  dwelling  units  contained  within  those  buildings  within the meaning of this subdivision.    (e) Any provision of this section to the contrary notwithstanding, the  following properties shall not be eligible for exemption:    (i)  any  multiple dwelling located in any geographical area where the  exemption is eliminated by regulations promulgated by the local  housing  agency, pursuant to subdivision three of this section, upon a finding by  the  local  housing  agency  that the need for the tax incentive in such  area has been significantly reduced, or that an area should be preserved  for mainly non-residential purposes in accordance with  local  municipal  policy;  unless  construction actually commenced prior to January first,  nineteen hundred eighty-two; provided  that  the  local  housing  agency  shall  not  reduce  or eliminate such exemption with respect to multiple  dwellings of less than four stories in height, as stories are defined in  the multiple dwelling law, except in areas to be  preserved  for  mainly  non-residential  purposes  provided further that no regulation regarding  such geographical limitation shall eliminate benefits available pursuant  to this section for construction which is  commenced  within  two  years  from  the  effective  date  of  such  regulation,  except in areas to be  preserved for mainly non-residential purposes;    (ii) any land which is mapped as a  public  park,  provided,  however,  that  this  exclusion  from eligibility for exemption shall not apply to  any land which has been mapped as a public park but which, for a  period  of  ten  years  or  more  after  the  date of such mapping, has not been  acquired by the state or the city in which such land is located and with  respect to which land the local department of parks and  recreation  has  determined  that such land is not required for public park purposes, and  that such department has no intention of acquiring such land and that no  funds have been allocated for such purpose;    (iii) any land which has been utilized for  ten  or  more  consecutive  years prior to October first, nineteen hundred seventy-one as a "private  park" as hereinafter defined. A private park is a privately owned zoning  lot  in  a densely developed area having a minimum size of four thousand  square feet, free of all developments and containing only trees,  grass,  benches,   walkways   and   passive  recreational  facilities  including  structures incidental thereto which has been used and maintained  during  said period for such passive recreational activity by the general public  without  charge with the consent and participation of the owner thereof;  where construction is commenced after  December  thirty-first,  nineteen  hundred seventy-two, eligibility shall be determined on the basis of the  condition  of  the  land  on  the first day of October, nineteen hundred  seventy-one.    (f)  Notwithstanding  the  provisions  of  any  local  law   for   the  stabilization  of  rents  in  multiple dwellings or the emergency tenant  protection act of nineteen seventy-four, the rents of a  unit  shall  be  fully subject to control under such local law or such act, unless exempt  under  such  local  law  or  such  act  from  control  by  reason of the  cooperative or condominium status of the unit,  for  the  entire  period  during  which  the  property  is receiving tax benefits pursuant to thissection for the period any such applicable law  or  act  is  in  effect,  whichever  is  shorter.  Thereafter,  such  rents  shall  continue to be  subject to such control to the same extent and in the same manner as  if  this  section had never applied thereto, except that such rents shall be  decontrolled if:    (i) with respect to units subject to the provisions of this section on  the effective date of this subparagraph such a unit becomes vacant after  the expiration of such  ten  year  period  or  applicable  law  or  act;  provided,  however,  that such units may be decontrolled pursuant to the  rent regulation reform act of 1993 and provided further  that  the  rent  shall  not  be decontrolled for a unit which the commissioner of housing  and community renewal or a court of competent jurisdiction finds  became  vacant  because  the landlord or any person acting on his behalf engaged  in any course of conduct, including but not limited to, interruption  or  discontinuance  of essential services which interfered with or disturbed  or was intended to interfere with or disturb the comfort, repose,  peace  or  quiet  of the tenant in his use or occupancy of such unit, and, that  upon such finding in addition to being subject to any other penalties or  remedies permitted by law, the landlord of such  unit  shall  be  barred  from  collecting  rent  for  such  unit in excess of that charged to the  tenant who vacated such unit until restoration  of  possession  of  such  tenant,  if the tenant so desires, in which case the rent of such tenant  shall be established as if such tenant had not  vacated  such  unit,  or  compliance  with  such  other remedy, including, but not limited to, all  remedies provided for by the emergency tenant protection act of nineteen  seventy-four for rent overcharge or failure to comply with any order  of  the   commissioner  of  housing  and  community  renewal,  as  shall  be  determined by the commissioner of housing and community  renewal  to  be  appropriate;  provided,  however,  that  if a tenant fails to accept any  such offer of restoration of possession, such unit shall return to  rent  stabilization at the previously regulated rent; or    (ii)  with  respect to units which become subject to the provisions of  this section after the effective date of  this  subparagraph,  such  tax  benefit period as provided in the opening paragraph of this paragraph or  applicable  law  or  act  shall  have  expired and either each lease and  renewal thereof for such unit for the tenant in residence at the time of  such decontrol has included a notice  in  at  least  twelve  point  type  informing  such  tenant  that  the  unit  shall  become  subject to such  decontrol upon the expiration of such tax benefit period as provided  in  the  opening  paragraph  of  this paragraph or applicable law or act and  states the approximate date on which such tax benefit period as provided  in the opening paragraph of this paragraph is scheduled  to  expire;  or  such  unit  becomes  vacant  as  provided under subparagraph (i) of this  paragraph.    (g)  For  purposes  of  this  section  construction  shall  be  deemed  "commenced" when excavation or alteration has begun in good faith on the  basis of approved construction plans.    (h)  Anything  in  this  section to the contrary notwithstanding, with  regard to a  project  consisting  of  two  or  more  multiple  dwellings  constructed on a contiguous site and containing an aggregate of not less  than  one thousand dwelling units, each of such multiple dwellings shall  be entitled to the exemption set forth herein provided  construction  of  such  project  be  commenced  before  January  first,  nineteen  hundred  seventy-eight and completed no later than a date certain  fixed  by  the  local  housing  agency  not  to  exceed  four  years  from  the  date of  commencement of construction of such project.    (i) Authority  of  city  to  enact  local  law.  Except  as  otherwise  specified  in  this  section, a city to which this section is applicablemay enact a local law to restrict, limit or condition  the  eligibility,  scope  or  amount  of  the  benefits  under  this  section in any manner  provided that such  local  law  may  not  grant  benefits  beyond  those  provided  in  this  section and provided further that in the city of New  York such local law shall not take effect sooner than one year after  it  is  enacted.  Notwithstanding the foregoing, the provisions of any local  law shall  not  alter  the  effect  of  subdivisions  twelve,  thirteen,  fourteen,  and  fifteen  of  this section as they apply on the effective  date of such subdivisions, notwithstanding any subsequent amendments  to  the provisions of law referred to in such subdivisions.    3.  Application  forms for exemption under this section shall be filed  with the assessors between February first and March fifteenth and, based  on the certification of the local housing agency as herein provided, the  assessors shall certify to the collecting officer the amount of taxes to  be abated. If there be in a city of one million  population  or  more  a  department  of  housing  preservation and development, the term "housing  agency" shall mean only such  department  of  housing  preservation  and  development.  No  such  application  shall  be accepted by the assessors  unless  accompanied  by  a  certificate  of  the  local  housing  agency  certifying  the applicant's eligibility pursuant to subdivisions two and  four of this section. No such  certification  of  eligibility  shall  be  issued  by  the  local  housing  agency until such agency determines the  initial adjusted monthly rent to be paid by tenants residing  in  rental  dwelling   units   contained   within  the  multiple  dwelling  and  the  comparative adjusted monthly rent that would have to  be  paid  by  such  tenants if no tax exemption were applicable as provided by this section.  The initial adjusted monthly rent will be certified by the local housing  agency  as the first rent for the subject dwelling units. A copy of such  certification with respect to  such  units  shall  be  attached  by  the  applicant  to  the  first  effective  lease  or occupancy agreement. The  initial adjusted monthly rent  shall  reflect  the  full  tax  exemption  benefits as approved by the agency.    The  agency shall determine the amount of the initial adjusted monthly  rent as follows:    (i) The total project cost shall be determined by adding the following  items:    (a) Land acquisition cost or purchase price, if purchased  within  two  years  prior  to  the  date  on  which  construction  or  alteration  is  commenced; or land acquisition cost or purchase price  or  an  appraisal  prepared  by  a  qualified  independent  appraiser,  in  such form as is  acceptable to the agency, if purchased more than two years prior to such  date. Land acquisition cost or purchase  price,  where  used,  shall  be  certified to by an independent certified public accountant;    (b)   Costs  incurred  in  the  process  of  preparing  the  site  for  construction, including but not limited to operating losses,  relocation  expenses,  demolition  expenses  and  carrying charges, such costs to be  certified by an independent certified public accountant to  a  date  not  more  than  ninety  days  prior  to  the  filing  of  an application for  certification of eligibility  and  the  balance  of  such  costs  to  be  estimated;    (c) Construction costs for constructing or rehabilitating the multiple  dwelling as determined by the agency in accordance with subdivision four  of  this  section,  plus  such  amount,  if any, representing unique and  special costs as may be allowed by the agency for a particular  multiple  dwelling;    (d)  An  allowance  for  estimated  off-site  costs, including but not  limited to architects, engineers and  legal  fees,  interest  and  taxesduring  construction,  insurance, title and mortgage fees, as determined  by the agency in accordance with subdivision four of this section, and    (e)  such  other amounts as are ordinarily and customarily incurred in  connection  with  the  construction  or  rehabilitation  of  a  multiple  dwelling,  as  determined  by  the agency in accordance with subdivision  four of this section.    (ii) The total expenses of the multiple dwelling shall  be  determined  by adding the following items:    (a)  The amount that the agency determines to be the reasonable annual  costs for the continuing  maintenance  and  operation  of  the  multiple  dwelling in accordance with subdivision four of this section;    (b)  The amount that the agency determines to be an appropriate annual  provision for vacancies, contingency reserves  and  management  fees  in  accordance with subdivision four of this section.    (c)  The  projected  real  property taxes to be levied on the multiple  dwelling and the land on which it is situated at the time  of  estimated  initial occupancy;    (d)  Fourteen  (14) per cent of the total project cost, as hereinabove  defined, which amount will include all expenses for debt service; and    (e) Deducting from said  total  the  estimated  annual  income  to  be  derived  from  any commercial, community facility or accessory use space  in the building.    (iii) The total expenses shall be divided by the room count to provide  the adjusted monthly rent per room per month.    (iv) The adjusted monthly rent per room per month shall be  multiplied  by  the  room  count of each rental dwelling unit to provide the initial  adjusted monthly rent for such  dwelling  unit.  The  agency  may  allow  adjustments  in  the  initial  adjusted  monthly rent for any particular  dwelling units provided that the total of the initial  adjusted  monthly  rents  for all of the rental dwelling units in a multiple dwelling shall  not exceed the total expenses of such multiple dwelling.    The agency shall determine the estimated comparative adjusted  monthly  rent  that  would have to be paid if no tax exemption were applicable as  provided by this section by adding to the adjusted monthly rent for each  dwelling unit as  hereinabove  computed  an  amount  equal  to  (a)  the  difference  between  the  projected  real  property taxes which would be  levied on the multiple dwelling and the land on which it is situated  at  the time estimated initial occupancy if no tax abatement were applicable  as  provided  by  this  section  and  the  projected real property taxes  hereinabove  utilized  in  connection  with  the  computation  of  total  expenses;  (b)  divided  by  the  room count of the building as per this  section; and (c) multiplied by the applicants  approved  room  count  of  each such dwelling unit.    The local housing agency may promulgate rules and regulations to carry  out the provisions of this section, not inconsistent with the provisions  hereof, and may require a reasonable filing fee in an amount provided by  such rules and regulations.    4.  a.  After  a  public  hearing  the housing agency shall promulgate  annually to take effect as of January first of  each  year  the  amounts  that  it  determines to be the reasonable amounts in such categories and  classifications as may be established by the housing  agency,  for  such  items  as  are generally applicable to all developments and are required  to be determined pursuant to subdivision three of  this  section,  which  amounts  shall  be  filed  with  the  city  clerk  and  published  in  a  publication of general circulation in the city or the  city  record,  if  any, upon adoption by the housing agency.    b. The local housing agency may require a filing fee not to exceed the  greater  of (i) four-tenths of one percent of the total project cost, or(ii) if the building will be owned  as  a  cooperative  or  condominium,  four-tenths  of  one percent of the total project cost or four-tenths of  one percent of the total project  sell-out  price  stated  in  the  last  amendment  to  the  offering  plan  accepted  for filing by the attorney  general of the state, at the option of the applicant. Such total project  cost or total project sell-out price shall  be  determined  pursuant  to  rules  promulgated  by  the  local  housing  agency. Notwithstanding the  foregoing, the local housing agency may  promulgate  rules  imposing  an  additional  fee if an application, or any part thereof, or submission in  connection therewith, is defective and such defect delays the processing  of such application  or  causes  the  local  housing  agency  to  expend  additional resources in the processing of such application.    c.  The local housing agency may rely on certification by an architect  or engineer submitted by an applicant in connection with the  filing  of  an   application   for  benefits  pursuant  to  this  section.  A  false  certification by such architect  or  engineer  shall  be  deemed  to  be  professional  misconduct  pursuant to section sixty-five hundred nine of  the education law. Any licensee found guilty of  such  misconduct  under  the  procedures  prescribed  in  section  sixty-five  hundred ten of the  education law shall be subject to the penalties  prescribed  in  section  sixty-five   hundred  eleven  of  such  law,  and  shall  thereafter  be  ineligible to submit a certification pursuant to this section.    5. An applicant for tax exemption under  this  section  whose  project  contains  more  than  twenty  dwelling  units  shall  notify  the  local  community planning board for the  area  which  is  the  subject  of  the  application  within  ten  days  of  submission of the application to the  local housing agency. The local community planning board  shall  have  a  forty-five  day period to file objections to the applicant's eligibility  under subdivision two of this section, or to the applicant's failure  to  comply  with  the  standards  adopted  by  the agency in accordance with  subdivision four of this section. The local community board  may  within  such  time  in  its  own  discretion  hold a public hearing to determine  whether or not any objections as to eligibility should be filed. In  the  event the local community board files such objections, the local housing  agency   shall  make  a  determination  and  notify  such  board  within  forty-five days. When an applicant's  project  contains  more  than  one  hundred fifty dwelling units the local community board may within thirty  days of receipt of an applicant's notification request the local housing  agency  to  and  the  local  housing  agency shall hold a public hearing  solely on the questions of the applicant's eligibility under subdivision  two of this section or  the  applicant's  failure  to  comply  with  the  standards  adopted  by  the  agency pursuant to subdivision four of this  section. The local housing agency shall hold this hearing and  make  its  determination and notify such board within forty-five days.    6.  (a)  When  used  in  this  subdivision  unless a different meaning  clearly appears from the context, the following  terms  shall  mean  and  include:    (i)   "Covered  project."  (A)  A  new  building  located  within  the  Greenpoint - Williamsburg waterfront exclusion area,  (B)  two  or  more  buildings  which are part of one contiguous development entirely located  within the Greenpoint - Williamsburg waterfront exclusion area, (C)  two  or more buildings which are located within the Greenpoint - Williamsburg  waterfront  exclusion  area  and are part of a single development parcel  specifically  identified  in  section  62-831  of   the   local   zoning  resolution,  or  (D) where so authorized in writing by the local housing  agency,  one  or  more  buildings  located  within  the   Greenpoint   -  Williamsburg waterfront exclusion area and one or more buildings located  outside  the  Greenpoint  -  Williamsburg  waterfront exclusion area butwithin Community District Number One in the  borough  of  Brooklyn.  The  cumulative  number  of affordable units located outside the Greenpoint -  Williamsburg waterfront exclusion area in all covered projects described  in  clause  (D)  of  this  subparagraph  shall not exceed two hundred. A  building  located  outside  the  Greenpoint  -  Williamsburg  waterfront  exclusion  area  which  is part of a covered project described in clause  (D) of this subparagraph shall not contain  any  affordable  units  with  respect  to which an application pending before a governmental entity on  the effective date of this subdivision or a written agreement in  effect  on  the  effective date of this subdivision provided for the development  of such affordable units.    (ii) "Greenpoint - Williamsburg waterfront exclusion  area."  Any  tax  lots now existing or hereafter created which are located entirely within  the  geographic area in the borough of Brooklyn bounded and described as  follows:    BEGINNING at the intersection of the bulkhead line in the  East  River  and  South  Fifth Street extended; thence easterly to South Fifth Street  and continuing along South Fifth Street  to  the  intersection  of  Kent  Avenue;  thence northerly along Kent Avenue to the intersection of South  Fourth Street, thence easterly along South Fourth Street to a point  320  feet from Kent Avenue; thence northerly to a point on South Third Street  320  feet from Kent Avenue; thence westerly on South Third Street to the  intersection of Kent Avenue; thence northerly along Kent Avenue  to  the  intersection  of Grand Street; thence westerly along Grand Street to the  intersection of River Street; thence northerly along River Street to the  intersection of North Third Street; thence easterly  along  North  Third  Street  to  the intersection of Kent Avenue; thence northerly along Kent  Avenue to the intersection of Franklin Street;  thence  northerly  along  Franklin  Street  to  the  intersection  of Quay Street; thence westerly  along Quay Street to the intersection of West Street;  thence  northerly  along  West  Street to the intersection of Eagle Street; thence easterly  along Eagle Street  to  the  intersection  of  Franklin  Street;  thence  northerly  along  Franklin  Street to the intersection of Dupont Street;  thence westerly along Dupont Street to the  intersection  of  Commercial  Street;  thence northerly along Commercial Street to the intersection of  Manhattan  Avenue;  thence  northerly  along  Manhattan  Avenue  to  its  northerly  terminus;  thence  northerly to the intersection of Manhattan  Avenue extended and the bulkhead line in Newtown Creek, thence  westerly  along  the bulkhead line in Newtown Creek and continuing southerly along  the United States pierhead line in  the  East  River  to  the  place  of  beginning;  included  in  said  area are all piers and other projections  from the bulkhead line into the East River or Newtown Creek.    (b) No  benefits  under  the  provisions  of  this  section  shall  be  conferred   on   any   covered  project  located  in  the  Greenpoint  -  Williamsburg waterfront exclusion area unless such project shall provide  affordable housing for persons and families of low and  moderate  income  that meets one of the following conditions:    (i)  not  less than twenty percent of the units in the covered project  are affordable to and occupied or available for occupancy by individuals  or families whose incomes at the time of initial occupancy do not exceed  eighty percent of the area median incomes adjusted for family size; or    (ii) not less than ten percent of the units in the covered project are  affordable to and occupied or available for occupancy by individuals  or  families  whose  incomes  at the time of initial occupancy do not exceed  eighty percent of the area median incomes adjusted for family  size  and  not  less than an additional fifteen percent of the units in the covered  project are affordable to and occupied or  available  for  occupancy  by  individuals  or  families whose incomes at the time of initial occupancydo not exceed one hundred twenty-five percent of the area median incomes  adjusted for family size.    (c)  Unless  affordable  units are developed under a federal, state or  city program having contrary requirements, (i) all affordable units must  have a comparable number of bedrooms as market rate units and a unit mix  proportional to the market rate units, or (ii) at least fifty percent of  the affordable units must have two or more bedrooms  and  no  more  than  fifty percent of the remaining units can be smaller than one bedroom.    (d)  Unless  affordable  units  are developed under a federal or state  program having contrary requirements, residents of the  local  community  shall  have  priority for the purchase or rental of fifty percent of the  affordable units.    (e) In order to ensure that affordable units created pursuant to  this  subdivision  will  continue to be affordable for the life of the covered  project, the local housing agency shall  employ  mechanisms,  including,  but  not  limited  to,  regulatory agreements, deed restrictions, resale  restrictions, occupancy requirements,  and  such  other  instruments  or  requirements  as  it  may  deem  necessary,  and  shall  establish legal  remedies to enforce such mechanisms.    (f) With respect to any covered project located  entirely  within  the  Greenpoint  -  Williamsburg waterfront exclusion area, the period of tax  benefits awarded to any building in such covered project  shall  be  the  same  as  the  period  of  tax  benefits  awarded  under  clause  (A) of  subparagraph (iii) of paragraph (a) of subdivision two of this  section.  With respect to any covered project which includes one or more buildings  located outside the Greenpoint - Williamsburg waterfront exclusion area,  the  period  of  tax  benefits  awarded  to any building in such covered  project that is located within the Greenpoint - Williamsburg  waterfront  exclusion  area  shall be the same as the period of tax benefits awarded  under clause (A) of subparagraph (ii) of paragraph  (a)  of  subdivision  two of this section.    7. (a) For the purposes of this subdivision:    (i)  "affordable  units" shall mean units which meet the affordability  requirements set forth in paragraph (c) of this subdivision.    (ii) "geographic exclusion areas" shall mean:    (A) areas described in subdivision eleven of this section,    (B) in the borough of Manhattan tax lots  now  existing  or  hereafter  created south of or adjacent to either side of one hundred tenth street,  and    (C) areas made ineligible for the benefits of this section:    (1)  as  set forth in section 11-245 of the administrative code of the  city  of  New  York  on  the  effective  date   of   this   subdivision,  notwithstanding  any exceptions to ineligibility contained in such local  law for certain types of projects in such areas,    (2) as set forth in local law number fifty-eight of the  city  of  New  York  for  the  year two thousand six, notwithstanding any exceptions to  ineligibility contained in such local law for certain types of  projects  in such areas and notwithstanding the effective date of such law, and    (3) by local law after the effective date of this subdivision.    (b)  Notwithstanding any provision of this section or any local law to  the contrary, the benefits of this section shall not  be  available  for  new  multiple  dwellings  located  in  a geographic exclusion area which  commence construction after December twenty-eighth, two  thousand  seven  unless   they  comply  with  the  provisions  of  this  subdivision  for  thirty-five years  from  completion  of  construction  of  the  building  receiving benefits pursuant to this section.    (c)(i)  Not  less  than  twenty  percent  of the units in the multiple  dwelling must, upon the initial rental or sale of the units and upon allsubsequent rentals of the units after a vacancy, be  affordable  to  and  occupied  or  available  for  occupancy by individuals or families whose  incomes at the time of initial occupancy do not exceed sixty percent  of  the  area  median  incomes  adjusted  for  family  size  or  (ii) if the  construction of such building is carried out with substantial assistance  of grants, loans or subsidies from any federal, state or local agency or  instrumentality and such assistance is provided pursuant  to  a  program  for  the development of affordable housing, not less than twenty percent  of the units in the multiple dwelling must, either (A) upon the  initial  rental of the units and upon all subsequent rentals of the units after a  vacancy,  be  affordable  to  and occupied or available for occupancy by  individuals or families whose incomes at the time of  initial  occupancy  do  not  exceed  one  hundred  twenty percent of the area median incomes  adjusted for family size and, where the multiple dwelling contains  more  than  twenty-five  units,  do not exceed an average of ninety percent of  the area median incomes adjusted  for  family  size,  or  (B)  upon  the  initial  sale  of  the units, be affordable to and occupied or available  for occupancy by individuals or families whose incomes at  the  time  of  initial  occupancy  do not exceed one hundred twenty-five percent of the  area median incomes adjusted for family size.    (d) Unless preempted by federal requirements:    (i) all affordable units must have a comparable number of bedrooms  as  market  rate units and a unit mix proportional to the market rate units,  or at least fifty percent of the affordable units must have two or  more  bedrooms  and  no  more than fifty percent of the remaining units can be  smaller than one bedroom or in addition to the requirements of paragraph  (c) of this subdivision, the floor area of affordable units is  no  less  than twenty percent of the total floor area of all dwelling units; and    (ii)  residents  of  the  community  board where the multiple dwelling  which receives the benefits provided in this section is  located  shall,  upon  initial  occupancy,  have  priority  for the purchase or rental of  fifty percent of the affordable units.    (e) Notwithstanding any provision of law to the  contrary,  affordable  rental  units must remain as rent stabilized units for thirty-five years  from completion of construction provided that tenants  holding  a  lease  and  in  occupancy  at  the  expiration of the rent stabilization period  shall have the right to  remain  as  rent  stabilized  tenants  for  the  duration of their occupancy.    (f)  All affordable units must be situated onsite. For the purposes of  this section,  "onsite"  shall  mean  that  affordable  units  shall  be  situated within the building or buildings for which benefits pursuant to  this section are being granted.    (g)  The  limitations  on  eligibility  for benefits contained in this  subdivision shall be in addition to those contained in this section  and  in any other law or regulation.    8. (a) As used in this subdivision, the following terms shall have the  following meanings:    (i)  "Building  service  employee"  means  any person who is regularly  employed at a building who performs work in connection with the care  or  maintenance  of such building. "Building service employee" includes, but  is not limited to superintendent,  watchman,  guard,  doorman,  building  cleaner,  porter,  handyman,  janitor, gardener, groundskeeper, elevator  operator and starter, and window cleaner, but shall not include  persons  regularly  scheduled  to  work  fewer  than  eight hours per week in the  building.    (ii) "Prevailing wage" means the wage determined by the fiscal officer  to be prevailing for the various classes of building  service  employees  in the locality pursuant to section two hundred thirty of the labor law.(b)  No  benefits  under  this  section  shall  be  conferred  for any  construction commenced on or after December twenty-eighth, two  thousand  seven  for  any  tax lots now existing or hereafter created except where  the applicant agrees that all building service employees employed at the  building,  whether employed directly by the applicant or its successors,  or through a property management company or a contractor, shall  receive  the  applicable  prevailing  wage for the duration of the building's tax  exemption.    (c) The limitations contained in paragraph  (b)  of  this  subdivision  shall not be applicable to:    (i) projects containing less than fifty dwelling units; or    (ii)  buildings  where  the  local  housing  agency  certifies that at  initial occupancy at least fifty  percent  of  the  dwelling  units  are  affordable  to  individuals or families with a gross household income at  or below one hundred twenty-five percent of the area median  income  and  that  any  such  units  which  are  located  in rental buildings will be  subject to restrictions to insure that they will remain  affordable  for  the entire period during which they receive benefits under this section.    (d) The local housing agency shall prescribe appropriate sanctions for  failure to comply with the provisions of this subdivision.    (e)  Solely  for  purposes  of  paragraph  (b)  of  this  subdivision,  construction shall be  deemed  to  have  commenced  when  excavation  or  alteration has begun in good faith on the basis of approved construction  plans.    (f)  The  limitations  on  eligibility  for benefits contained in this  subdivision shall be in addition to those contained in any other law  or  regulation.    9. (a) As used in this subdivision, the following terms shall have the  following meanings:    (i)  "Residential tax lot" shall mean a tax lot that contains dwelling  units.    (ii) "Non-residential tax lot" shall mean a  tax  lot  that  does  not  contain any dwelling units.    (iii)  "Annual  limit"  shall  mean sixty-five thousand dollars, which  amount shall be increased by three percent, compounded annually, on each  taxable status date following the first  anniversary  of  the  effective  date of this subdivision.    (iv)  "Certificate  of  occupancy" shall mean the first certificate of  occupancy  covering  all  residential  areas  of  the  building  on   or  containing a tax lot.    (v) "Unit count" shall mean:    (A)  in  the  case  of a residential tax lot that does not contain any  commercial, community facility or accessory use  space,  the  number  of  dwelling units in such tax lot, and    (B)  in  the  case  of a residential tax lot that contains commercial,  community facility or accessory use space, the number of dwelling  units  in such tax lot plus one.    (vi)  "Exemption  cap"  shall  mean  the  unit count multiplied by the  annual limit.    (b) The provisions of this subdivision shall apply  only  to  projects  that  commence  construction  on  or  after  December twenty-eighth, two  thousand seven.    (c) The portion of the assessed valuation of any residential  tax  lot  exempted  from  real  property  taxation  in  any  year pursuant to this  section shall not exceed the exemption cap on or after the first taxable  status date after the building on or containing such  tax  lot  receives  its  certificate of occupancy, unless, it complies with the requirements  of item a or b of clause (D) of subparagraph (iii) of paragraph  (a)  ofsubdivision  two  of  this section or the requirements of item a or b of  clause (A) of subparagraph (iv) of paragraph (a) of subdivision  two  of  this   section.   The   portion   of   the  assessed  valuation  of  all  non-residential   tax  lots  in  the  building  on  or  containing  such  non-residential tax lots exempted from real  property  taxation  in  any  year  pursuant to this section shall not exceed a cumulative total equal  to the annual limit on or after the first taxable status date after  the  building  on  or  containing  such non-residential tax lots receives its  certificate of occupancy. A dwelling unit that is located in two or more  tax lots shall be ineligible to receive any benefits under this section.    10. (a) The local housing agency shall implement procedures to  insure  that  affordable  units created pursuant to this section, or units which  are required to be occupied by persons or families  who  meet  specified  income limits pursuant to the provisions of a local law enacted pursuant  to this section, continue to be affordable as required by the provisions  of  this  section or such local law, and that units made subject to rent  stabilization remain subject thereto as required by  the  provisions  of  this  section. Such procedures shall include but shall not be limited to  the following:    (i) all rent stabilization registrations required to be  filed  on  or  after  January  first,  two  thousand  eight shall contain a designation  which identifies all units that are subject to the  provisions  of  this  section  as  "421-a  units" and specifically identifies affordable units  created pursuant to this section and units  which  are  required  to  be  occupied  by  persons  or  families  who  meet  specified  income limits  pursuant to the provisions of a  local  law  enacted  pursuant  to  this  section  as "421-a affordable units" and shall contain an explanation of  the requirements that apply to all such units. The owner of a unit  that  is  subject  to  the  provisions  of  this section shall, in addition to  complying  with  the  requirements  of  section  26-517  of   the   rent  stabilization  law,  file  a copy of the rent registration for each such  unit with the local housing agency;    (ii) the local housing agency with  cooperation  of  the  division  of  housing  and community renewal shall monitor and enforce compliance with  the filing requirements of this section;    (iii) the local housing agency shall  create  a  report  which,  at  a  minimum,  contains  the  following  information for every building which  receives benefits pursuant to this section:  address,  commencement  and  termination  date  of  the  benefits, total number of residential units,  number  of  "421-a  units"  and  number  of  "421-a  affordable  units",  apartment  number  or  other  designation of such units and the rent for  each of such units. The local housing agency with the cooperation of the  division of housing and community renewal  shall  maintain,  and  update  such  report no less than annually, with information secured from annual  registrations. Such reports shall be available for public inspection  in  a  form  that  assigns  a unique designation to each unit other than its  actual apartment number to maintain the privacy of such information; and    (iv) the local  housing  agency  shall  monitor  any  change  in  such  information, shall investigate any such changes which indicate a failure  to   comply  with  the  provisions  of  this  section,  and  shall  take  appropriate action based on its findings.    (b) Failure to comply  with  the  provisions  of  this  section  which  require  the  creation  and  maintenance of affordable units pursuant to  this section, or units which are required to be occupied by  persons  or  families  who meet specified income limits pursuant to the provisions of  a local law enacted pursuant to this section, at  any  time  during  the  duration  of  the building's tax exemption shall result in revocation of  any benefits under this section for the period of  such  non-compliance.If  an  on-going  pattern  of  non-compliance  is  found  to exist, such  benefits may  be  revoked  from  their  inception.  Notwithstanding  the  revocation of benefits for a building pursuant to the provisions of this  subdivision, all units in such building shall continue to remain subject  to  the provisions of the rent stabilization law for the entire intended  period as if the benefits had not been revoked.    (c) The provisions of this subdivision relating to enforcement of  the  provisions  of this section shall be in addition to any other provisions  contained in this section or any other law.    (d) The revocation of benefits for  noncompliance  with  this  section  shall   not   exempt   any  unit  from  continued  compliance  with  the  requirements of this section.    11. Additional geographic exclusion areas:    (a) Any tax lots now existing or hereafter created which  are  located  entirely  within  the geographic area in the borough of Brooklyn bounded  and described as follows:    (i) In the County of Kings, Beginning at a point where Warwick  Street  meets  Belmont  Avenue,  thence  westerly  along  said  avenue to Jerome  Street, thence southerly along said  street  to  Sutter  Avenue,  thence  westerly  on  said  avenue to Barbey Street, thence northerly along said  street to Belmont Avenue, thence westerly on said avenue to  New  Jersey  Avenue,  thence  southerly  on  said  avenue  to  Sutter  Avenue, thence  westerly on said avenue to Pennsylvania Avenue, thence northerly on said  avenue to Belmont Avenue, thence westerly on said  avenue  to  Sheffield  Avenue,  thence  southerly  on  said  avenue  to  Sutter  Avenue, thence  westerly on said avenue to Snediker Avenue,  thence  northerly  on  said  avenue  to  William's  Place,  thence  northerly on said place to Fulton  Street, thence  easterly  on  said  street  to  Jamaica  Avenue,  thence  easterly  on  said avenue to Van Siclen Avenue, thence southerly on said  avenue to Arlington Avenue, thence easterly on said  avenue  to  Warwick  Street,  thence  southerly  on  said  street  to Atlantic Avenue, thence  westerly on said avenue to  Jerome  Street,  thence  southerly  on  said  street  to  Liberty  Avenue,  thence  easterly on said avenue to Warwick  Street, thence southerly along said  street  to  its  intersection  with  Belmont Avenue, the point of beginning.    (ii)  In  the  County  of  Kings,  Beginning at a point where Bushwick  Avenue meets with Stewart Street, thence southwesterly on said street to  Broadway, thence southeasterly on  Broadway  to  Conway  Street,  thence  southwesterly  on said street to Truxton Street, thence westerly on said  street to Sackman Street, thence southerly on said  street  to  Atlantic  Avenue,  thence  westerly  on  said  avenue  to  Howard  Avenue,  thence  northerly on said avenue to MacDougal Street, thence  westerly  on  said  street  to  Fulton  Street,  thence  westerly  on said street to Patchen  Avenue, thence northerly  on  said  avenue  to  Hancock  Street,  thence  easterly  on  said  street  to Saratoga Avenue, thence northerly on said  avenue to a point midway between Hancock Street  and  Jefferson  Avenue,  thence  easterly along the line extended to the northern intersection of  Broadway and Hancock Street, thence northerly along  Hancock  Street  to  Bushwick  Avenue,  thence easterly along said avenue to its intersection  with Stewart Street, the point of beginning.    (iii) In the County of Kings, Beginning  at  a  point  where  Prospect  Place  meets  Ralph Avenue, thence southerly along said avenue to Sutter  Avenue, thence westerly along said avenue to east  98th  Street,  thence  southeasterly  along  said  street to Rutland Road, thence southwesterly  along said road to East 92nd Street,  thence  northwesterly  along  said  street  to  East  New York Avenue, thence southerly along said avenue to  Lefferts Avenue, thence westerly along  said  avenue  to  Utica  Avenue,  thence  northerly along said avenue to Lincoln Place, thence easterly onsaid place to Rochester Avenue, thence northerly on said avenue  to  St.  Mark's  Avenue  thence  easterly on St. Mark's Avenue to Buffalo Avenue,  thence southerly on said avenue to Prospect Place, thence west