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									  A Guide to Tenant Eligibility and Rent Setting

              HPD
Supportive Housing Loan Program:
  A Guide to Tenant Eligibility and Rent Setting
                    Supportive Housing Loan Program:
                A Guide to Tenant Eligibility and Rent Setting

         This booklet provides an overview of rent and income eligibility
         requirements for owners of supportive housing projects. These
         requirements will vary from project to project, based on the
         combination of funding sources, rental subsidies and project
         details. Many different sets of regulations may apply to a
         particular project.

         Please contact Supportive Housing Loan Program staff with
         questions and for clarification.


         Please note that HPD collects and presents this information as a courtesy. It is the
         owner’s responsibility to use the correct income limits and maximum rents
         determined by the funding sources used for a particular project.



                                                                                                                               2
Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   March 2010
                              Supportive Housing Loan Program:
                          A Guide to Tenant Eligibility and Rent Setting

     For initial rent-up of new buildings/renovation projects:
     Upon reaching 75% construction completion, review pages 4–10 and contact
     Yolanda Gibbs, Section 8 Coordinator, to schedule an appointment to discuss rent
     setting procedures for your project.

     For supportive housing projects in ongoing operations:
     Sponsors should review these regulations from time to time as they consider rent
     increases, follow the procedures outlined on pages11–13 and contact the appropriate
     agencies to periodically increase rents. For in-place tenants with incomes over
     60% of AMI, please consult the project’s regulatory agreement.

     Sponsors considering renovating a building with existing tenants should contact
     David Rouge, Director of Operations, early in predevelopment. These projects often
     involve unique rent structuring and other processes that must be addressed early in
     the development process.

     Contacts:                         Yolanda Gibbs, (212) 863-7661, Section 8 Coordinator
                                       David Rouge, (212) 863-6469, Director of Operations


                                                                                                                               3
Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   March 2010
                                        Supportive Housing Loan Program:
                                      Tenant Income Eligibility Requirements
                                  HOME Funds + Tax                    HOME Funds but No                Tax Credits* but                No Tax Credits + No
                                  Credits*                            Tax Credits                      No HOME Funds                   HOME Funds

Entire Project                    -At least 20% of HOME               - At least 20% of HOME           - If 20-50 threshold test       -All tenants must earn ≤
                                  units** must be rented to           units** must be rented           is selected, at least           60% of AMI
                                  tenants earning ≤ 50% of            to tenants earning ≤ 50%         20% of tenants must             -At least 60% of tenants
                                  AMI.**** All tenants must           of AMI.                          earn ≤ 50% AMI.                 must be homeless.
                                  earn ≤ 60% of AMI.                                                   -All tenants must earn
                                                                      - All tenants must earn ≤
                                  - At least 60% of all                                                ≤ 60% of AMI
                                                                      60% of AMI
                                  tenants must be homeless                                             -At least 60% of
                                                                      -At least 60% of tenants
                                                                                                       tenants must be
                                                                      must be homeless
                                                                                                       homeless.

Units with Shelter +              - All tenants must be               - All tenants must be            - All tenants must be           - All tenants must be
Care or Project-                  homeless and earn ≤ 50%             homeless and earn ≤              homeless and earn ≤             homeless and earn ≤
                                  of AMI                              50% of AMI                       50% of AMI                      50% of AMI
Based Section 8
                                  - For Shelter Plus Care, all        - For Shelter Plus Care,         - For Shelter Plus Care,        - For Shelter Plus Care,
Assistance***                     tenants must have a                 all tenants must have a          all tenants must have a         all tenants must have a
                                  disability.                         disability.                      disability .                    disability.

Units with SRO Mod.               - All tenants must be               - All tenants must be            - All tenants must be           - All tenants must be
Rehab or Tenant-                  homeless and earn ≤ 50%             homeless and earn ≤              homeless and earn ≤             homeless and earn ≤
                                  of AMI.                             50% of AMI.                      50% of AMI.                     50% of AMI.
Based Section 8
Assistance

Units without Rental              - Refer to “Entire Project”         - Refer to “Entire               - Refer to “Entire              - Refer to “Entire
Assistance                        requirements.                       Project” requirements.           Project” requirements.          Project” requirements.

 *In tax credit applications, sponsors may promise to serve lower income tenants at lower rents than are required by these pro visions. Sponsors that do so are
 held to those stricter agreements if the project receives a tax credit allocation. See also HUD, ―Blending HOME and LIHTC Req uirements,‖
 http://www.hud.gov/offices/cpd/affordablehousing/training/web/lihtc/settingrents/blending.cfm
 **See attached ―HOME Limits‖ chart to determine the number of HOME units in a given project.
 *** HUD Project-Based Section 8 guidelines permit vouchers for 25% of the units of an eligible project plus units housing disabled o r elderly
 persons.
 **** For HOME + tax credit projects before July 31, 2008, the requirement is 25% of HOME units must be earning ≤ 50% of AMI.
                                                                                                                                                                  4
Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC                 March 2010
                                           Supportive Housing Loan Program:
                                              Maximum Collectible Rent
     This chart lists the maximum rent including utilities an owner is allowed to collect under program regulations (known as the
     maximum collectible rent). An owner is always allowed to set rent levels below the maximum.

                                HOME Funds + Tax                HOME Funds + No                  Tax Credits + No               No HOME Funds +
                                Credits                         Tax Credits                      HOME Funds                     No Tax Credits
                                -Fair Market Rent*              -Fair Market Rent*               -Fair Market Rent*             -Fair Market Rent*
Units with Project
Based Shelter + Care,
SRO Mod. Rehab., or
Section 8 Rental
Assistance
                                For HOME units**:               For HOME units**:                -Fair Market Rent*             -Fair Market Rent*
                                - At least 20% of the HOME      - At least 20% of the HOME
                                units must have rents ≤ 30%     units must have rents ≤ 30%
Units with Tenant               of 50% of AMI                   of 50% of AMI
Based Section 8                 -All other HOME units must      -All other HOME units must
Rental Assistance               have rents ≤ 30% of 65% of      have rents ≤ 30% of 65% of
                                AMI                             AMI
                                For non-HOME units:             For non-HOME units:
                                -Fair Market Rent*              -Fair Market Rent*

                                SHLP regulatory agreement       SHLP regulatory agreement        SHLP regulatory agreement      SHLP regulatory agreement
                                limits apply:                   limits apply:                    limits apply:                  limits apply:
                                -For homeless tenants with      -For homeless tenants with       -For homeless tenants with     -For homeless tenants with
                                income less than 55% AMI,       income less than 55% AMI,        income less than 55% AMI,      income less than 55% AMI,
                                the greater of 30% of           the greater of 30% of            the greater of 30% of          the greater of 30% of
Units without Rental            tenant’s income or the          tenant’s income or the           tenant’s income or the         tenant’s income or the
Assistance                      shelter allowance.              shelter allowance.               shelter allowance.             shelter allowance.
                                -For all others, rent must be   -For all others, rent must be    -For all others, rent must     -For all others, rent must be
                                ≤ 30% of 55% of AMI, unless     ≤ 30% of 55% of AMI, unless      be ≤ 30% of 55% of AMI,        ≤ 30% of 55% of AMI,
                                applicable HOME rent for        applicable HOME rent for         unless applicable HOME         unless applicable HOME
                                unit is lower (e.g. 30% of      unit is lower (e.g. 30% of       rent for unit is lower (e.g.   rent for unit is lower (e.g.
                                50% of AMI).                    50% of AMI).                     30% of 50% of AMI).            30% of 50% of AMI).
  *See HUD, ―FAQs: Fair Market Rents and Payment Standards.‖ <http://www.hud.gov/offices/pih/programs/ph/rhiip/ faq_gird.cfm#fmraps>
  HUD regulations, which are broader and may be up to 110% Fair Market Rent.
  See also HUD, Title 24, Part 982, Section 8 Tenant Based Assistance, < http://edocket.access.gpo.gov/cfr_2008/aprqtr/24cfr982.503.htm>.
  **See attached ―HOME Limits‖ chart to determine the number of HOME units in a given project.                                                        5
 Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC        March 2010
                                2009-2010 Maximum HOME Program Rents
                                                               Effective 4/27/2009



    Low HOME Rents: Very Low Income Units                                           High HOME Rents: Low Income Units
     Based on 30% of 50% of median income                                          Based on 30% of 65% of median income
 Bdrm          Tenant          Tenant         Tenant         Tenant            Bdrm          Tenant         Tenant           Tenant         Tenant
 Size          Pays No         Pays           Pays           Pays              Size          Pays No        Pays             Pays           Pays
               Utilities       Gas &          Gas            Electric                        Utilities      Gas &            Gas            Electric
                               Electric                                                                     Electric
      0           $672           $602           $651           $623                0            $854              $784          $833          $805
      1           $720           $642           $696           $666                1            $916              $838          $892          $862
      2           $863           $777           $837           $803                2           $1,101         $1,015           $1,075        $1,041
      3           $998           $902           $972           $928                3           $1,264         $1,168           $1,238        $1,194



                                      2009 Program Annual Income Limits by Household Size

          % of Median            One             Two             Three            Four              Five              Six               Seven
          Income                Person         Persons          Persons          Persons          Persons           Persons            Persons
          50% Very Low
                               $26,900          $30,700          $34,550          $38,400         $41,450           $44,550            $47,600
          Income (VLI)
          60% Low
                               $32,280          $36,840          $41,460          $46,080         $49,740           $53,460            $57,120
          Income (LI)*
*Although the maximum rent is 30% of 65% of AMI, the income eligibility for low income units is capped at 60% AMI.

See HPD: ―Developers—Housing Finance Programs.‖ 2009 HOME Rent & Income Limits for NYC. 2009.
<http://www.nyc.gov/html/hpd/downloads/pdf/2009-home-Rent-income-Limits.pdf>
                                                                                                                                                     6
Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC          M arch 2010
                              2009-2010 SHLP Regulatory Agreement Rents


                                         2009 Program Annual Income Limits by Household Size

           % of Median              One             Two             Three            Four              Five         Six          Seven
           Income                  Person         Persons          Persons          Persons          Persons      Persons       Persons


             55% of AMI           $29,590          $33,700         $38,005          $42,240          $45,595      $49,005       $52,360




                                                SHLP Program Rents:
                                        Based on 30% of 55% of median income


                          Bdrm              Tenant Pays              Average              55% of Median Income
                          Size               No Utilities           Household
                                                                       Size
                             0                   $740                      1                        $29,590
                             1                   $792                    1.5                        $31,680
                             2                   $950                      3                        $38,005
                             3                  $1098                    4.5                        $43,921




Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   M arch 2010             7
    2009-2010 Fair Market Rent, Section 8 Rents & Utility Allowances
                                                             Effective 10/1/2009

 McKinney (Shelter Plus Care) funding provides payments at the Fair Market Rent (FMR) for the New York SMSA.* If the
 tenant pays the utilities, the Fair Market Rent is decreased by the corresponding utility allowance(s).

                                  Fair Market Rent w/ Gas &
                                                                                      Section 8 Utility                   Section 8 Utility
 # of Bedrooms                 Electric (Shelter Plus Care, SRO
                                                                                      Allowance: Gas                    Allowance: Electric
                                    Mod Rehab, Section 8)


 SRO                                              $847                                         $14                             $52


 Studio                                         $1,129                                         $14                             $52


 1 bedroom                                      $1,222                                         $15                             $53


 2 bedroom                                      $1,359                                         $15                             $55


 3 bedroom                                      $1,672                                         $17                             $67

•Note: The appropriate FMR for any project-based contract is set by the rate effective on the date the contract was issued.
*See HUD: ―Final FY 2010 Fair Market Rent Documentation System.‖
http://www.huduser.org/portal/datasets/fmr/fmrs/FY2010_code/2010summary.odn?inputname=METRO35620MM5600*New+York%2C+NY+HUD+Metr
o+FMR+Area&data=2010&fmrtype=Final.


                                                                                                                                              8
   Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC            March 2010
Low Income Housing Tax Credit- Rent Limits for New York City 2009-2010*
                                                               Effective 3/19/2009


      LIHTC Rents: Very Low Income Units                                                   LIHTC Rents: Low Income Units
         30% of 50% of median income                                                        30% of 60% of median income
Bdrm        Tenant           Tenant          Tenant          Tenant             Bdrm            Tenant          Tenant          Tenant          Tenant
Size        Pays No          Pays            Pays            Pays               Size            Pays No         Pays            Pays            Pays
            Utilities        Gas &           Gas             Electric                           Utilities       Gas &           Gas             Electric
                             Electric                                                                           Electric
  0            $672             $602            $651            $623                 0             $807            $737            $786              $758
  1            $720             $642            $696            $666                 1             $864            $786            $840              $810
  2            $863             $777            $837            $803                 2           $1,036            $950          $1,010              $976
  3            $998             $902            $972            $928                 3           $1,197          $1,101          $1,171          $1,127


                                       2009 LIHTC Annual Income Limits by Household Size

      % of Median              One              Two              Three              Four               Five             Six             Seven
      Income                  Person          Persons           Persons            Persons           Persons          Persons          Persons
      50% Very Low
                              $26,900          $30,700           $34,550           $38,400           $41,450           $44,550          $47,600
      Income (VLI)
      60% Low
                              $32,280          $36,840           $41,460           $46,080           $49,740           $53,460          $57,120
      Income (LI)*

  *For buildings placed in service after December 31, 2008. Buildings placed in service on or before December 31, 2008 must us e different limits.
  See HPD: ―Developers—Housing Finance Programs.‖ 2009 LIHTC Rent & Income Limits for NYC. 2009.
  <http://www.nyc.gov/html/hpd/downloads/pdf/2009-LIHTC-Rent-Income-Limits.pdf>
  Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC               March 2010                  9
                                                 2009-2010 HOME Limits
   The number of HOME Units in a project is calculated by dividing the HOME subsidy by the appropriate HOME
   Limit factor below. The HOME Unit count is used in rent setting and for determining the income requirements of
   a project utilizing HOME funds without tax credits.


                 # of                    Elevator                                        # of                     Elevator
                 Bedrooms                Building                                        Bedrooms                 Building
                                         Effective                                                                Effective
                                         1/1/2009                                                                 1/1/2010


                 Studio                 $126,869                                         Studio                   $125,928


                 1                                                                       1
                                        $145,433                                                                  $144,355
                 bedroom                                                                 bedroom

                 2                                                                       2
                                        $176,846                                                                  $175,536
                 bedroom                                                                 bedroom

                 3                                                                       3
                                        $228,780                                                                  $227,086
                 bedroom                                                                 bedroom

                 4+                                                                      4+
                                        $251,131                                                                  $249,271
                 bedroom                                                                 bedroom


Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC      March 2010   10
Supportive Housing Loan Program: Registering Legal Rents with DHCR
    Pursuant to the HPD Regulatory Agreement, all units in a supportive housing project are subject to
    rent stabilization upon completion of construction. This means that a Legal Rent for each unit must
    be established and registered with DHCR. The Legal Rent represents the maximum amount of rent
    that can be charged for a unit under the Rent Stabilization Law. Rental subsidy payments to owners
    may not exceed the registered Legal Rent, even if the regulations of the subsidy program may allow
    for a higher payment. The NYC Rent Guidelines Board sets and publishes maximum rates for Legal
    Rent increases once a year. Throughout the life of a project, the owner must take responsibility to
    register annual increases in the Legal Rent with DHCR.

Registering Initial Rents with DHCR:
   ▪ At 75% construction completion, contact HPD SHLP Section 8 Coordinator Yolanda Gibbs (212 -
   863-7661) to schedule a meeting and discuss rent setting. Under the Regulatory Agreement, the
   Legal Rent is the greater of a) the FMR or b) an amount based on debt service and operating costs.
   ▪ Complete and return DHCR registration forms. Instructions and forms can be found at:
   http://www.dhcr.state.ny.us/ora/pubs/html/reginsinitial.htm.
   ▪ In order to inform tenants about their rights, you must attach Rent Stabilization Lease Riders to the
   tenant’s leases prior to signing. The template can be downloaded from the DHCR website at:
   www.dhcr.state.ny.us/ora/forms/pdf/ralr1.pdf

After initial registration:
    ▪ Legal Rents must be registered annually with DHCR. Forms and instructions can be found at the
    DHCR website.
    ▪ Follow DHCR Rent Regulations to register increases in Legal Rent.
    ▪ When requesting an increase in Legal Rent, be sure to complete a Renewal Lease Form and
    provide to tenants in accordance with instructions on the form. The Renewal Lease Form can be
    found at: http://www.dhcr.state.ny.us/ora/forms/pdf/rtp8.pdf.



 Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   March 2010   11
                                 Supportive Housing: Steps for Increasing Rent
            Sponsors are responsible for registering annual increases in the Legal Rent for all units in accordance with
            DHCR guidelines. For units with rental subsidies, sponsors are also responsible for requesting increases in the
            Maximum Collectible Rent from HPD when applicable (e.g., when the FMR or Payment Standard increases).

To increase Legal Rent (all units):                                              To increase Maximum Collectible Rent (units with rental
                                                                                 assistance):
▪  Ensure Legal Rent is in lease form
▪  Verify Legal Rent is registered with DHCR                                     ▪ Ensure Legal Rent is in lease form
▪  Verify rent increase authorized by Rent Guidelines Board                      ▪ Verify Legal Rent is registered with DHCR
▪  Complete DHCR Rent Stabilized Renewal Lease Form
  with tenant 150-190 days before end of lease term.                             For McKinney (Shelter + Care, SRO Mod):
  (Note: Legal Rent registered with DHCR must be listed                          ▪ Consult with Yolanda Gibbs in December, following
  in Section 2 of this form; the collectible rent, aka                             publication of FMR, to determine whether rent increases
  “preferential rent,” should be listed in Section 5.)                             can be considered for your project.
▪ Attach DHCR Rent Stabilization Lease Rider to Renewal                          ▪ Submit applications for tenants 60 days prior to end of
  Lease Form.                                                                      lease terms.
                                                                                 ▪ Application should include current DHCR annual
                                                                                   registration form, current tenant lease agreement, and
To increase Maximum Collectible Rent (low income                                   memo requesting rent increase for the individual tenant
units without rental assistance)
                                                                                 For Tenant-Based Rental Assistance and Project-Based
▪ Ensure Legal Rent is in lease.                                                 Vouchers:
▪ Verify Legal Rent is registered with DHCR.                                     ▪ Submit application for each tenant 60 days prior to HAP
▪ Make adjustment in accordance with increases in AMI or                           anniversary date.
  tenant incomes (up to maximum allowed by funding                               ▪ Submit current DHCR registration form.
  sources) at end of the lease term.                                             ▪ Submit tenant lease renewal form with new rent.
▪ HPD rent increase form.                                                        ▪ HPD rent increase form.
▪ Request current HPD Payment Standard.                                          ▪ Request current HPD Payment Standard.
                                                                                 ▪ Submit required documentation to Yolanda Gibbs for
                                                                                   forwarding to DTR.
    Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   March 2010       12
                     Division of Housing and Community Renewal: Contact DHCR
     For further assistance, search DHCR’s website at www.dhcr.state.ny.us, call, write or email. The Borough and District Rent Offices provide
   information and assistance to tenants and owners of rent stabilized apartments. You may ask questions and pick up forms at t hese locations.

General Information and Questions:
1-866-ASK DHCR (M-Th 9am-5pm, Fr 8am-4pm) OR DHCRInfo@dhcr.state.ny.us
Owner/Tenant (rent stabilized or rent controlled matters): RentInfo@dhcr.state.ny.us
Executive Offices:

Albany                                             Hampton Plaza, 38-40 State Street                               (518) 402-3728
                                                   Albany, NY 12207

New York City                                      25 Beaver Street                                                (212) 480-6700
                                                   New York, NY 10004

Rent Administration &                              Gertz Plaza, 92-31 Union Hall Street                           (718) 739-6400 (rent)
                                                   Jamaica, NY 11433
Enforcement Unit                                                                                              (718) 262-7974 (enforcement)
Rent Administration Borough and District Offices (you may pick up forms at these locations) :
Bronx Borough Rent Office                          One Fordham Plaza, 2nd Floor, Bronx, NY 10458                   (718) 563-5678
Upper Manhattan Borough Rent                       163 West 125th Street, 5th Floor                                (212) 961-8930
Office (North of 110th St.)                        New York, NY 10027

Lower Manhattan Borough Rent                       25 Beaver Street, 5th Floor                                     (212) 480-6238
Office (South of 110th St.)                        New York, NY 10004

Brooklyn Borough Rent Office                       55 Hanson Place, Room 702, Brooklyn, NY 11217                   (718) 722-4778
Queens Borough Rent Office                         Gertz Plaza, 92-31 Union Hall Street                            (718) 739-6400
                                                   Jamaica, NY 11433

Staten Island Borough Rent Office                  60 Bay Street, 7th floor                                        (718) 816-0278
                                                   Staten Island, NY 10301

                                                                                                                                             13
Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC     March 2010
Previous Years’ Rent Setting Guidelines




                                          14
2008




       15
                                      2008 Maximum HOME Program Rents
                                                               Effective 4/12/2008



    Low HOME Rents: Very Low Income Units                                           High HOME Rents: Low Income Units
     Based on 30% of 50% of median income                                          Based on 30% of 65% of median income
 Bdrm          Tenant          Tenant         Tenant         Tenant            Bdrm           Tenant        Tenant           Tenant        Tenant
 Size          Pays No         Pays           Pays           Pays              Size           Pays No       Pays             Pays          Pays
               Utilities       Gas &          Gas            Electric                         Utilities     Gas &            Gas           Electric
                               Electric                                                                     Electric
      0           $672           $607           $655           $624                0            $854              $789          $837         $806
      1           $720           $648           $701           $667                1            $916              $844          $897         $863
      2           $863           $783           $842           $804                2           $1,101         $1,021           $1,080       $1,042
      3           $998           $909           $977           $930                3           $1,264         $1,175           $1,243       $1,196



                                      2008 Program Annual Income Limits by Household Size

          % of Median            One             Two             Three            Four              Five              Six              Seven
          Income                Person         Persons          Persons          Persons          Persons           Persons           Persons
          50% Very Low
                               $26,900          $30,700          $34,550          $38,400         $41,450           $44,550           $47,600
          Income (VLI)
          60% Low
                               $32,280          $36,840          $41,460          $46,080         $49,740           $53,460           $57,120
          Income (LI)*
      *Although the maximum rent is 30% of 65% of AMI, the income eligibility for low income units is capped at 60% AMI



Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC          March 2010              16
                  Fair Market Rent, Section 8 Rents & Utility Allowances
                                                            Effective 10/1/2007

                 McKinney (Shelter Plus Care) funding provides payments at the Fair Market Rent (FMR)
                 for the New York SMSA. The Section 8 Payment Standard is 110% of the FMR.

                         Fair Market Rent w/ Gas             Tenant-Based Section
                                                                                                                   Section 8 Utility
       # of              & Electric (Shelter Plus             8 Payment Standard               Section 8 Utility
                                                                                                                     Allowance:
    Bedrooms             Care, SRO Mod Rehab,                   w/ Gas & Electric              Allowance: Gas
                                                                                                                       Electric
                           Proj-Based Sect 8)                      (110% FMR)


    SRO                              $821                               $903                          $17                 $48


    Studio                          $1,095                            $1,204                          $17                 $48


    1 bedroom                       $1,185                            $1,303                          $19                 $53


    2 bedroom                       $1,318                            $1,449                          $21                 $59


    3 bedroom                       $1,621                            $1,783                          $21                 $68

                 Note: The appropriate FMR for any project-based contract is set by the rate effective on
                 the date the contract was issued.

Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC    March 2010          17
    Low Income Housing Tax Credit- Rent Limits for New York City 2008
                                                            Effective 2/13/2008


       LIHTC Rents: Very Low Income Units                                              LIHTC Rents: Low Income Units
          30% of 50% of median income                                                   30% of 60% of median income
Bdrm        Tenant          Tenant         Tenant         Tenant            Bdrm           Tenant         Tenant       Tenant       Tenant
Size        Pays No         Pays           Pays           Pays              Size           Pays No        Pays         Pays         Pays
            Utilities       Gas &          Gas            Electric                         Utilities      Gas &        Gas          Electric
                            Electric                                                                      Electric
   0            $672           $607           $655           $624                0            $807          $742            $790      $759
   1            $720           $648           $701           $667                1            $864          $792            $845      $811
   2            $863           $783           $842           $804                2          $1,036          $956         $1,015       $977
   3            $998           $909           $977           $930                3          $1,197         $1,108        $1,176      $1,129



                                      2008 LIHTC Annual Income Limits by Household Size

       % of Median            One              Two             Three           Four              Five               Six        Seven
       Income                Person          Persons          Persons         Persons          Persons            Persons     Persons
       50% Very Low
                             $26,900         $30,700          $34,550          $38,400          $41,450           $44,550      $47,600
       Income (VLI)
       60% Low
                             $32,280         $36,840          $41,460          $46,080          $49,740           $53,460      $57,120
       Income (LI)*




Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC        March 2010         18
                                                          HOME Limits
                                                            Effective 1/1/2008

   The number of HOME Units in a project is calculated by dividing the HOME subsidy by the appropriate HOME
   Limit factor below. The HOME Unit count is used in rent setting and for determining the income requirements of
   a project utilizing HOME funds without tax credits.

                                         # of
                                                                  Elevator Building
                                         Bedrooms

                                         Studio                       $122,061


                                         1 bedroom                    $139,920


                                         2 bedroom                    $170,143


                                         3 bedroom                    $220,109


                                         4+ bedroom                   $241,613




Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   March 2010   19
2007




       20
                                      2007 Maximum HOME Program Rents
                                                               Effective 3/28/2007



    Low HOME Rents: Very Low Income Units                                           High HOME Rents: Low Income Units
     Based on 30% of 50% of median income                                          Based on 30% of 65% of median income
 Bdrm          Tenant          Tenant         Tenant         Tenant            Bdrm           Tenant        Tenant           Tenant     Tenant
 Size          Pays No         Pays           Pays           Pays              Size           Pays No       Pays             Pays       Pays
               Utilities       Gas &          Gas            Electric                         Utilities     Gas &            Gas        Electric
                               Electric                                                                     Electric
      0           $620           $557           $604           $573                0            $786              $723          $770      $739
      1           $664           $594           $646           $612                1            $844              $774          $826      $792
      2           $797           $720           $778           $739                2           $1,016             $939          $997      $958
      3           $921           $835           $902           $854                3           $1,165         $1,079           $1,146    $1,098


                                      2007 Program Annual Income Limits by Household Size

                     % of Median                One Person                  Two Persons                 Three Persons
                     Income
                     50% Very Low                       $24,800                    $28,350                        $31,900
                     Income (VLI)
                     60% Low Income                     $29,760                    $34,020                        $38,280
                     (LI)*


*Although the maximum rent is 30% of 65% of AMI, the income eligibility for low income units is capped at 60% AMI

Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC          M arch 2010          21
                Fair Market Rent, Section 8 Rents & Utility Allowances
                                                             Effective 10/1/2007

               McKinney (Shelter Plus Care) funding provides payments at the Fair Market Rent (FMR)
               for the New York SMSA. The Section 8 Payment Standard is 110% of the FMR.

                       Fair Market Rent w/ Gas                Tenant-Based Section
                                                                                                                             Section 8 Utility
    # of               & Electric (Shelter Plus                8 Payment Standard                 Section 8 Utility
                                                                                                                               Allowance:
 Bedrooms              Care, SRO Mod Rehab,                      w/ Gas & Electric                Allowance: Gas
                                                                                                                                 Electric
                         Proj-Based Sect 8)                         (110% FMR)


 SRO                                $821                                  $903                             $17                     $48


 Studio                            $1,095                               $1,204                             $17                     $48


 1 bedroom                         $1,185                               $1,303                             $19                     $53


 2 bedroom                         $1,318                               $1,449                             $21                     $59


 3 bedroom                         $1,621                               $1,783                             $21                     $68


Note: The appropriate FMR for any project-based contract is set by the rate effective on the date the contract was issued.


                                                                                                                                                 22
   Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC               March 2010
   Low Income Housing Tax Credit- Rent Limits for New York City 2007
                                                          December, 2007

2007 Maximum Rent by Apartment Size                                       2007 Maximum Rent by Apartment Size
30% of 50% of Area Median Income                                          30% of 60% of Area Median Income

Apt. Size        Tenant             Tenant            Tenant              Apt. Size          Tenant             Tenant           Tenant
                 Pays No            Pays              Pays Gas &                             Pays No            Pays             Pays Gas &
                 Utilities          Electric          Electric                               Utilities          Electric         Electric



0 Bedroom            $620              $573               $557             0 Bedroom             $744                $697               $681


1 Bedroom            $664              $612               $594             1 Bedroom             $797                $745               $727


2 Bedroom            $797              $739               $720             2 Bedroom             $957                $899               $880


3 Bedroom            $921              $854               $835             3 Bedroom            $1106                $1039          $1020




   Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC         March 2010          23
                                                          HOME Limits
                                                            Effective 1/1/2007

   The number of HOME Units in a project is calculated by dividing the HOME subsidy by the appropriate HOME
   Limit factor below. The HOME Unit count is used in rent setting and for determining the income requirements of
   a project utilizing HOME funds without tax credits.

                                # of                                                     Non-Elevator
                                                         Elevator Building
                                Bedrooms                                                   Building


                                Studio                        $119,016                     $113,093


                                1 bedroom                     $136,428                     $130,397


                                2 bedroom                     $165,898                     $157,260


                                3 bedroom                     $214,615                     $201,295


                                4+ bedroom                    $235,584                     $224,251




Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC   March 2010   24

								
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