Int. No. 601-A
By The Speaker (Council Member Johnson), Council Members Richards, Lander, Chin, Rosenthal, Constantinides, Reynoso, Maisel, Perkins, Miller and Rivera
Title
A Local Law to amend the administrative code of the city of New York, in relation to requiring certain reporting on an affordable housing plan
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 21 to read as follows:
CHAPTER 21
AFFORDABLE HOUSING PLAN REPORT
? 26-2101 Definitions. As used in this chapter:
Affordable housing. The term "affordable housing" means a dwelling unit that (i) is required pursuant to a federal, state or local law, rule or program 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.
Created. The term "created" means constructed or financed through the development of new buildings or down payment assistance enabling a new homeowner to access affordable housing.
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.
Extremely low income household. The term "extremely low income household" means a household that has an income of no more than 30 percent of the area median income, adjusted for the size of the household.
Extremely low income affordable housing (ELI-AH) unit. The term "extremely low income affordable housing (ELI-AH) unit" me...
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