Eastern Rail Yard Transferrable Development Rights (ERY TDRs)
The Eastern Rail Yard Transferrable Development Rights ("ERY TDRs") are development rights that HYDC is authorized to sell to owners of certain properties within the Large Scale Plan Subdistrict (Subdistrict A) of the Special Hudson Yards District.
This Purchase Application is for the purchase of Floor Area from the Eastern Rail Yard Subarea for distribution to a Zoning Lot within the Hudson Yards District ERY TDR Receiving Area pursuant to Section 93-34 of the Zoning Resolution.
This Purchase Application shall be in effect for ERY TDR Purchases to occur on or before December 31, 2020, unless this Purchase Application is earlier modified, replaced or withdrawn by the Administrator.
In order to proceed with the purchase of the ERY TDRs, the Applicant shall submit the following items to HYDC:
I. A completed Purchase Application Data Sheet.
II. A draft of the CP Application.
A. Following Applicant's submission of a complete Purchase Application, Administrator shall cause the MTA and HYIC to join the CP Application as and to the extent necessary under Section 93-34 of the Zoning Resolution.
B. The complete CP Application shall be submitted to Administrator as soon it is accepted by the New York City Department of City Planning.
III. Application Fee. Applicant shall pay a one-time non-refundable application fee of $10,000 made payable to HYIC by check or wire payment (the "Application Fee"). Wire payment instructions shall be provided by the Administrator upon request.
If you have any questions regarding the purchase of ERY TDRs or the application process, please contact Lincoln Patel, HYDC’s Vice President and Counsel, via email at firstname.lastname@example.org