By order of the Board of Directors in response to Shareholder request, Dayton Beach Park No 1 Corporation has formed an exploratory committee to examine the feasibility of converting Dayton Beach Park from a Mitchell-Lama (Article II) to a HDFC (Article XI) development. Under the supervision of the New York City Department of Housing Preservation and Development in its “Article II to Article XI” program, a conversion to Dayton Beach Park HDFC would present many benefits for Shareholders including more than $100,000 in new equity value for current Dayton Beach Park Shareholders day one.
Follow Up: NYC HPD Assistant Commissioner – Mitchell Lama, Julie Walpert in response to Shareholder questions at the meeting:
https://www.keepandshare.com/doc19/18998/1012-001-pdf-50k?da=y
NYC HPD Assistant Commissioner – Mitchell Lama, Julie Walpert on the Article XI Program:
https://www.keepandshare.com/doc19/18998/1012-001-pdf-50k?da=y
Article II – XI Conversion Program Fact Sheet (English):
https://www1.nyc.gov/assets/hpd/downloads/pdf/renters-mitchell-lama/Article-II-toXI-term-sheet.pdf
Sample Proxy Statement:
NYC HDC Dayton Beach Park HDFC Sales Estimates:
