Requirements for Affordable Housing Incentives
What is Affordable Housing?
Affordable housing is defined as buildings in which at least 25% of the dwelling units are, or are expected to be, occupied by households earning no more than 80% of the area or State median income, whichever is higher. Affordable housing documentation must be submitted with the Affordable Multifamily Energy Efficiency Program application package.
A project may qualify for affordable housing incentives by either Proxy Eligibility or Rent Roll Eligibility.
Proxy Eligibility
The program recognizes certain proxies as proof of compliance with the approved definition of affordable housing.
|
Eligibility Proxy |
Details |
Documentation Required |
|---|---|---|
|
US HUD, USDA-RD, and other Federally Regulated Affordable Housing |
Properties receiving one of the following subsidies from HUD or USDA-RD (e.g., Public Housing Authorities) |
Copy of the HUD contract or contract award notice |
|
DHCR-Regulated Affordable Housing |
Buildings with subsidized mortgages or contracts that place them under the regulatory control of NYSDHCR |
Copy of NYSDHCR contract or contract award notice |
|
Low Income Housing Tax Credits |
Properties that receive tax credits for at least 50% of their units |
Copy of tax credit award notice from NYSDHCR or NYCHPD |
|
NYCHPD-Regulated Affordable Housing (or other local housing agency) |
Properties with loans, mortgages, or deeds of purchase (HDFC incorporation) from NYCHPD or other local housing agencies |
Documentation of current mortgage, loan closing, HDFC incorporation or deeds |
|
SONYMA mortgage insurance |
Properties subsidized for low- to moderate-income multi-family residents with SONYMA subsidized financing through the HFA |
Copy of loan closing/mortgage insurance award documents |
|
Weatherization Assistance Program |
Properties that have fulfilled the eligibility requirements for the Weatherization Assistance Program |
Copy of the letter from the Weatherization Agency confirming the project’s income eligibility |
|
HFA 80/20 Program |
Properties that have been accepted into the Housing Finance Agency’s 80/20 Program |
Copy of the award letter or HFA contract documents |
|
NYCHDC 80/20 or Mixed Income Programs |
Properties that have been accepted into the NYC Housing Development Corporation’s 80/20 Program or Mixed Income Program |
Copy of the award letter or HDC contract documents |
|
Mitchell-Lama Buildings |
Properties that are currently NYS or NYC supervised Mitchell-Lama buildings |
Copy of NYSHCR or NYCHPD contract or recent annual report confirming active Mitchell-Lama status |
|
NYC Department of Homeless Services (or other local homeless service agency) |
Properties that serve as transitional housing facilities, where a nonprofit organization is the owner of the property |
Copy of the NYC Department of Homeless Services (or other local homeless service agency) contract and proof of ownership |
Rent Roll Eligibility
This type of qualification may be used by projects that do not meet the proxy requirements. Twenty-five percent of the dwelling units must have a calculated household income no more than 80% of the State or area median income, whichever is higher, based on the assumption that 30% of household income is applied to housing costs (i.e., rent). Applicants must submit the annual rent, size, and occupancy for each apartment on the property. A calculation spreadsheet tool is available for determining Rent Roll income eligibility.