Int. No. 722-A
By The Speaker (Council Member Johnson), Council Members Constantinides, Cornegy, Reynoso, Chin, Perkins, Rosenthal, Miller and Rivera
Title
A Local Law to amend the administrative code of the city of New York, in relation to implementation of a tracking system for and a review of expiring affordable housing units
Body
Be it enacted by the Council as follows:
Section 1. Title 26 of the administrative code of the city of New York is amended by adding a new chapter 22 to read as follows:
CHAPTER 22
EXPIRING AFFORDABLE HOUSING
? 26-2201 Definitions. For the purposes of this chapter, the following terms have the following meanings:
Affordable housing unit. The term "affordable housing unit" means a dwelling unit that is (i) required, pursuant to a federal, state or local law, rule or program administered by the city or an agreement with the city or a person acting on the city's behalf, to be affordable for an extremely low income household, a very low income household, a low income household, a moderate income household or a middle income household and (ii) operates pursuant to an agreement administered by the department.
Area median income. The term "area median income" means the Income Limits as defined annually by the U.S. Department of Housing and Urban Development (HUD) for the New York, NY HUD Metro FMR Area (HMFA), as established in Section 3 of the Housing Act of 1937, as amended.
Department. The term "department" means the department of housing preservation and development.
Dwelling unit. The term "dwelling unit" has the meaning ascribed to such term in the housing maintenance code.
Expiring affordable housing unit. The term "expiring affordable housing unit" means, with respect to the report required by sections 26-2204 and 26-2205, an affordable housing unit that, without a change in a federal, state or local law, rule or program or an agreement with the city or a person acting on ...
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