Requirements for Affordable Housing Incentives
| 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:
|
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 its 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 |
Rent Roll
This applies to affordable housing projects that do not meet the proxy requirements. This method is only available to properties that have a rent roll. Applicants must submit the annual rent, size, and occupancy for each apartment in the property. At least 25% of the units must have a calculated household income no more than 80% of the Area or State Median Income; based on the assumption that 30% of household income is applied to housing costs (i.e., rent). A spreadsheet tool is available for determining Rent Roll income eligibility upon request.