New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter IV - State-assisted Housing Constructed By Private Enterprise › Subchapter C - Housing Company Management › Part 1727 - Occupancy › Subpart 1727-2 - Determination Of Eligibility For Admission Or Continued Occupancy › Section 1727-2.1 - Income limitations

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
						Determination of income for admission and continued occupancy is governed by
						this Subpart, except that federally assisted projects shall conform to HUD's
						requirements governing income determination for the admission and continued
						occupancy of below market rent tenants.
(b) Section
						85-a of the Private Housing Finance Law
						concerns rentals and selection of tenants for limited dividend housing
						companies. Under its provisions, admission to a project is limited to those
						households whose probable aggregate annual income does not exceed seven times
						the annual rent including the value or cost of heat, light, water, and cooking
						fuel, except that in the case of households with three or more dependents, such
						ratio shall not exceed eight times the annual rent.
(c) Section
						31
						of the Private Housing Finance Law applies to limited profit housing companies.
						Under its provisions, admission to a project is limited to those households
						whose probable aggregate annual income does not exceed seven times the annual
						rent including the value or cost of heat, light, water, and cooking fuel,
						except that in the case of households with three or more dependents, such ratio
						shall not exceed eight times the annual rent.
(d) Households with two or more dependents
						whose probable aggregate annual income does not exceed 125 percent of the
						relevant income limit in subdivision (a), (b) or (c) of this section shall also
						be eligible for admission to a project. Households eligible for admission under
						the provisions of this subdivision shall pay a rental surcharge according to
						the housing company's rental surcharge schedule.
(e) Applications shall be accepted where the
						probable aggregate income at the time of application and admission does not
						exceed the greater of the limits set forth in subdivision (a), (b) or (c) of
						this section or the median income as adjusted for household size for such
						households for the metropolitan statistical area in which the project is
						located or, if a project is located outside a metropolitan statistical area,
						the median income as adjusted for household size for such households for the
						county in which the project is located as most recently determined by the
						United States Department of Housing and Urban Development. Any household
						becoming eligible for admission under the alternative computation set forth in
						this subdivision (e) of this section shall pay, from the time of admission, a
						rental surcharge, as provided for in this Subpart, computed on the basis of the
						income limitations applicable to such households in the absence of this
						subdivision.
(f) Tenants whose
						incomes increase over the admission limits may continue in occupancy. Their
						rent, however, shall be increased in accordance with the rent schedule prepared
						by the housing company and approved by the division. The division may direct a
						particular rent increase schedule to be prepared and implemented.
(g) Where family income has been increased by
						the addition of a new household member, the housing company shall recompute the
						family income and, if warranted, assess the appropriate surcharge.