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Requirements for Affordable Housing Incentives

View documentation for affordable multifamily housing properties.

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.

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Proxy Eligibility

The program recognizes certain proxies as proof of compliance with the approved definition of affordable housing.

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Eligibility Proxy

Details

Documentation Required

Eligibility Proxy

US HUD, USDA-RD, and other Federally Regulated Affordable Housing

Details

Properties receiving one of the following subsidies from HUD or USDA-RD:

  • - Section 8 Contract
  • - Sections 202, 236, 811
  • - Public Housing Authorities

Documentation Required

Copy of the HUD contract or contract award notice

Eligibility Proxy

DHCR-Regulated Affordable Housing

Details

Buildings with subsidized mortgages or contracts that place them under the regulatory control of NYSDHCR

Documentation Required

Copy of NYSDHCR contract or contract award notice

Eligibility Proxy

Low Income Housing Tax Credits

Details

Properties that receive tax credits for at least 50% of its units

Documentation Required

Copy of tax credit award notice from NYSDHCR or NYCHPD

Eligibility Proxy

NYCHPD-Regulated Affordable Housing (or other local housing agency)

Details

Properties with loans, mortgages, or deeds of purchase (HDFC incorporation) from NYCHPD or other local housing agencies

Documentation Required

Documentation of current mortgage, loan closing, HDFC incorporation or deeds

Eligibility Proxy

SONYMA mortgage insurance

Details

Properties subsidized for low- to moderate-income multi-family residents with SONYMA subsidized financing through the HFA

Documentation Required

Copy of loan closing/mortgage insurance award documents

Eligibility Proxy

Weatherization Assistance Program

Details

Properties that have fulfilled the eligibility requirements for the Weatherization Assistance Program

Documentation Required

Copy of the letter from the Weatherization Agency confirming the project’s income eligibility

Eligibility Proxy

HFA 80/20 Program

Details

Properties that have been accepted into the Housing Finance Agency’s 80/20 Program

Documentation Required

Copy of the award letter or HFA contract documents

Eligibility Proxy

NYCHDC 80/20 or Mixed Income Programs

Details

Properties that have been accepted into the NYC Housing Development Corporation’s 80/20 Program or Mixed Income Program

Documentation Required

Copy of the award letter or HDC contract documents

Eligibility Proxy

Mitchell-Lama Buildings

Details

Properties that are currently NYS or NYC supervised Mitchell-Lama buildings

Documentation Required

Copy of NYSHCR or NYCHPD contract or recent annual report confirming active Mitchell-Lama status

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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.

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