In the Phase 2 Hudson Boulevard and Park, no development shall be permitted and, except as provided in Section 93-051 (Applicability of Article I, Chapter 1), no building shall be enlarged. However, floor area from a granting site within the Phase 2 Hudson Boulevard and Park may be transferred to a receiving site in accordance with the provisions of paragraph (a) of this Section.

For the purposes of this Section, a “granting site” shall mean a zoning lot, or portion thereof, within the Phase 2 Hudson Boulevard and Park and the lot area of such granting site shall include any area on such site designated on the City Map as Hudson Boulevard or public park, and a “receiving site” shall mean a zoning lot, or portion thereof, within Subareas A2 through A5 of the Large-Scale Plan Subdistrict A or Subareas D1 or D2 of Hell’s Kitchen Subdistrict D, to which floor area from a granting site has been transferred.

Special regulations for certain zoning lots partially within the Phase 2 Hudson Boulevard and Park are set forth in Section 93-33.

(a)        Transfer of floor area by certification

The Chairperson of the City Planning Commission shall allow, by certification, the applicable basic maximum floor area ratio of a receiving site to be increased up to the maximum amount specified in Section 93-21 or 93-22, as applicable, through the transfer of floor area from a granting site, provided that:

(1)        the maximum amount of floor area transferred from a granting site shall not exceed the floor area ratio permitted on the granting site, as listed below, less any existing floor area to remain on the granting site:
 

(2)        each transfer, once completed, irrevocably reduces the amount of floor area that may be transferred from the granting site by the amount of floor area transferred;

(3)        the maximum amount of floor area transferred to a receiving site shall be based on an amount not to exceed the floor area ratio permitted on a zoning lot through such transfer pursuant to Section 93-21 or 93-22, as applicable. In the event a granting site generates more floor area than is permitted on a receiving site, the Chairperson shall certify that such excess floor area be credited towards future floor area transfers pursuant to this Section; and

(4)        where all floor area shall be transferred from a granting site pursuant to one or more such certifications, all certificates of occupancy have been surrendered for such granting site, all structures on such granting site have been demolished, and such granting site has been conveyed to the City for improvement, where applicable, as a public park or street, as provided for on the City Map.

Where, as a result of the transfer of floor area pursuant to this paragraph (a), the amount of floor area on a receiving site is less than the maximum allowable as specified for the applicable subarea in Row B in the table in Section 93-21 and Row C in the table in Section 93-22, any additional floor area, up to the maximum floor area ratio permitted on the receiving site as specified in such rows, may be achieved only through contributions to the Hudson Yards District Improvement Fund pursuant to Section 93-31 (District Improvement Fund Bonus), an increase in floor area pursuant to paragraph (b) of this Section or Section 93-33 (Special Regulations for Residual Portions of Zoning Lots Partially Within the Phase 2 Hudson Boulevard and Park), or the Inclusionary Housing Program pursuant to Section 23-154, as modified by Section 93-23.

An application filed with the Chairperson for the transfer of floor area pursuant to this paragraph (a) shall be made jointly by the owners of the granting site and receiving site, and shall include a site plan and floor area zoning calculations for the granting site and the receiving site, and a copy of the transfer instrument legally sufficient in both form and content to effect such a transfer, together with notice of the restrictions upon further development of the granting site and the receiving site.

Notices of restrictions shall be filed by the owners of the granting site and receiving site in the Borough Office of the Register of the City of New York, indexed against the granting site and the receiving site, a certified copy of which shall be submitted to the Chairperson of the Commission. Receipt of certified copies thereof shall be a pre-condition to issuance of any building permit, including any foundation or alteration permit, for any development or enlargement on the receiving site which incorporates floor area transferred pursuant to this paragraph (a).

(b)        Authorization for contribution-in-kind

The City Planning Commission may authorize a contribution-in-kind to the Hudson Yards District Improvement Fund for a receiving site, provided that:

(1)        the conditions for transferring floor area set forth in paragraph (a) of this Section have been met as of the date of the authorization or will be met in accordance with agreements or instruments entered into pursuant to paragraph (b)(3) of this Section;

(2)        the granting site will be improved, at the applicant’s expense, as a public park or street, as provided for on the City Map, prior to conveyance to the City; and

(3)        the applicant, or an affiliate of such applicant, has entered into an agreement or provided instruments in a form satisfactory to the City, providing for the improvement of the granting site as a public park or street pursuant to an agreed-upon construction schedule. The construction schedule may be adjusted from time to time in accordance with the provisions of such agreement or instruments and shall include progress milestones, including the date by which the improvements will be 50 percent complete, and a date by which the improvements will be substantially complete and usable by the public. In the event that the conditions for transferring floor area set forth in paragraph (a) of this Section have not been completed as of the date of this authorization, such agreement or instruments shall also provide that such conditions will be met, to the extent applicable, pursuant to an agreed-upon schedule.

In order to grant such authorization, the Commission shall find that the public park or street has been designed in accordance with the approved plan for the Hudson Boulevard and Park, or as an appropriate interim design, in consultation with the Department of Parks and Recreation or Department of Transportation.

The Commission shall determine the reasonable cost of such improvement, including any acquisition and site preparation costs, and shall divide this reasonable cost by the contribution amount per square foot of the District Improvement Bonus, as determined pursuant to Section 93-31, and in effect on the date of authorization of the contribution-in-kind pursuant to this paragraph (b), in order to determine the amount of increased floor area generated by the contribution-in-kind. In making such determination, the Commission may consult with an appraiser or engineer at the applicant’s expense. In the event the contribution-in-kind results in an amount of floor area in excess of what is permitted on the receiving site, the Commission shall authorize that such excess floor area be credited towards future floor area increases pursuant to Section 93-31.

The owner of the receiving site shall not apply for or accept a temporary certificate of occupancy for that portion of the development or enlargement identified as utilizing the increased floor area permitted pursuant to this paragraph (b), and the Department of Buildings shall not issue a temporary certificate of occupancy for such portion until the Chairperson has certified that the improvements are substantially complete and usable by the public. The owner shall not apply for or accept a permanent certificate of occupancy for such portion of the development or enlargement nor shall the Department of Buildings issue a permanent certificate of occupancy for such portion until the improvements have been finally completed in accordance with the approved plans and such final completion has been certified by the Chairperson. A restrictive declaration in a form acceptable to the Chairperson shall be recorded against the receiving site in the Office of the Register of the City of New York in order to implement such restrictions.

An application filed with the Chairperson for the contribution-in-kind pursuant to this paragraph (b) shall be made jointly by the owners or contract vendees of the granting site and receiving site and shall, in all instances, include the party responsible either directly or through its affiliate, for the improvement of the granting site as a public park or street pursuant to the agreement or instruments entered into pursuant to paragraph (b)(3) of this Section.

Receipt of executed copies of the agreement or instruments required pursuant to paragraph (b)(3) of this Section, and of copies of the recorded restrictive declaration, shall be a precondition to the issuance of a building permit, including any foundation or alteration permit, for any development or enlargement on the receiving site that incorporates a floor area bonus granted pursuant to this paragraph (b).

In no event shall a building permit for a development or enlargement utilizing a floor area increase pursuant to this paragraph (b) be granted for the receiving site until the Chairperson provides notice to the Commissioner of Buildings that the applicant, or affiliate responsible for the improvement of the granting site, has provided acceptable evidence of site control for purposes of construction of the improvement.