* Editor's note: there are two sections designated as § 26-2101.
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" means affordable housing that is affordable to an extremely low income household.
Low income household. The term "low income household" means a household that has an income of more than 50 percent of the area median income but no more than 80 percent of the area median income, adjusted for the size of the household.
Low income affordable housing (LI-AH) unit. The term "low income affordable housing (LI-AH) unit" means affordable housing that is affordable to a low income household.
Middle income household. The term "middle income household" means a household that has an income of more than 120 percent of the area median income but no more than 165 percent of the area median income, adjusted for the size of the household.
Middle income affordable housing (MIDI-AH) unit. The term "middle income affordable housing (MIDI-AH) unit" means affordable housing that is affordable to a middle income household.
Moderate income household. The term "moderate income household" means a household that has an income of more than 80 percent of the area median income but no more than 120 percent of the area median income, adjusted for the size of the household.
Moderate income affordable housing (MI-AH) unit. The term "moderate income affordable housing (MI-AH) unit" means affordable housing that is affordable to a moderate income household.
Preserved. The term "preserved" means received physical rehabilitation and/or financial operating assistance for existing buildings in exchange for affordability for existing and future tenants.
Very low income household. The term "very low income household" means a household that has an income of more than 30 percent of the area median income but no more than 50 percent of the area median income, adjusted for the size of the household.
Very low income affordable housing (VLI-AH) unit. The term "very low income affordable housing (VLI-AH) unit" means affordable housing that is serving a very low income household.
(L.L. 2018/132, 7/29/2018, eff. 7/29/2018)