1. st 51 st 4 th AVEAVE FIFTH AVENUE COMMITTEE (FAC) BROOKLYN PUBLIC LIBRARY (BPL) SUNSET PARK LIBRARY EXPANSION & AFFORDABLE HOUSING UPDATE TO HOUSING COMMITTEE, Brooklyn CB7 Wednesday, June 10, 2015 (Renderings are illustrative only)

2. AGENDA I.Project Background & Overview (5 minutes) II.Unit Affordability (3 minutes) III.Funding Sources (3 minutes) IV.Project Timeline (3 minutes) V.Community Outreach /Project Planning (3 minutes) VI.Next Steps (3 minutes) VII.Questions and Answers

3. Sunset Park Branch Library Background Originally opened in 1905, the Sunset Park branch was knocked down and rebuilt in the ‘70’s One of the busiest branches in the BPL system, located in one of the most densely populated and diverse neighborhoods in Brooklyn The current layout isn’t ideal – more space and technology is needed to accommodate the needs of the community o 12,200 SF – average size for a BPL branch o Aging infrastructure – currently have funding to replace the boiler, HVAC and roof, as well as make a couple of minor interior improvements

4. Why can’t we just build a bigger branch? BPL’s 60 locations collectively have more than $300 million in outstanding capital needs Because the City gives BPL around $15 million per year to fund these needs, only the most dire capital projects are typically funded To build a larger branch library for Sunset Park, BPL would need about $20 million

5. Proposed Expansion of Sunset Park Library By redeveloping the building, the City of New York and the Library will: o Obtain a brand new 20,000+ SF library on the same site – located in the cellar, first and a portion of the second floors o Generate 49 units of affordable housing, with a minimum of 50% preference for local residents FAC will purchase the land, build a mixed-use building, and construct a 20,000+ SF core and shell at no cost to Brooklyn Public Library in the base of the building. BPL will pay to fit out the new library, estimated to cost around $10 million. BPL would use a portion of the proceeds from Brooklyn Heights, to pay this expense.

6. Project Overview City-owned property (public library) Innovative – first time in Brooklyn to rebuild and expand a public library while also creating 49 units of deeply affordable housing HPD Zoning Override to increase FAR while keeping existing zoning height and setback requirements (R-7A)

7. Unit Affordability Current proposal – diverse range of affordable units: 9 studios – average rend between $565 and $988 (depending on income) 13 one-bedrooms – from $607 to $1,229 per month 8 two-bedrooms – from $735 to $1,471 per month 10 three-bedrooms – from $843 to $1,703 per month 9 units for Formerly Homeless Victims of Domestic Violence (2 studios, 1 1BR, 3 2BRs, 3 3BRs) Income requirements will be 30% AMI, 40% AMI, 50% AMI, 60% AMI and 80% AMI 50% of the units will be for CB7 residents, 7 units will be specialized for the disabled or hearing / visually impaired Units will be permanently affordable

8. Funding Sources Tax Credit Equity – LIHTC$11,410,000 NYC HPD 3,675,000 Mortgage 2,897,000 Elected Official Support 800,000 NYS HCR CIF (BPL) 721,000 Library Match for CIF 520,000 Citibank 1% 500,000 TOTAL$20,523,000

9. Proposed Timeline Jun 2015Begin Environmental Assessment Oct 2015ULURP Certification Jun 2016City Council and Mayoral Approval Interim Branch Outfitting & Gear Up Sep 2016Construction Finance Closing Oct 2016Construction Start Jul 2017Sunset Park Branch Library Fit Out Begins Dec 2018Prepare sessions on housing application (“Housing Connect”) Mar 2018Building Construction Completion Jun 2018Building Rent-up / Library Re-opening

10. Community Outreach and Planning Process Opportunity to build the branch from the ground up & reflect what Sunset Park wants in its library Community-driven planning process (i.e., charrettes / planning workshops; online feedback; in-branch surveys) with opportunities for community stakeholders to provide input BPL and FAC to work with Community Board 7 as we move ahead

11. Next Steps Finalize agreement between Brooklyn Public Library and the Fifth Avenue Committee (summer, 2015) Identify interim branch location (Fall, 2015) Begin community feedback process (Fall, 2015) Move forward with funders and complete “Environmental Assessment Study” in preparation for Uniform Land Use Review Procedure (ULURP) (Summer/Fall, 2015)

12. QUESTIONS/THOUGHTS/IDEAS THANK YOU!!!!!!