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

Hpd supportive housing loan program a guide to tenant eligibility and rent setting
1 / 24
0
0
786 days ago, 339 views
PowerPoint PPT Presentation

Presentation Transcript

Slide 1

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

Slide 2

Supportive Housing Loan Program: A Guide to Tenant Eligibility and Rent Setting This booklet gives an outline of lease and salary qualification necessities for proprietors of strong lodging ventures. These necessities will differ from venture to extend, in light of the blend of subsidizing sources, rental sponsorships and venture points of interest. A wide range of sets of controls may apply to a specific venture. If it's not too much trouble contact Supportive Housing Loan Program staff with inquiries and for elucidation. If it's not too much trouble take note of that HPD gathers and introduces this data as a graciousness. It is the proprietor's obligation to utilize the right pay breaking points and most extreme rents controlled by the subsidizing sources utilized for a specific venture. Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 3

Supportive Housing Loan Program: A Guide to Tenant Eligibility and Rent Setting For introductory lease up of new structures/redesign ventures : Upon achieving 75% development fulfillment, audit pages 4–10 and contact Yolanda Gibbs, Section 8 Coordinator, to plan an arrangement to examine lease setting techniques for your venture. For steady lodging ventures in continuous operations : Sponsors ought to audit these directions every once in a while as they consider lease increments, take after the systems plot on pages11–13 and contact the fitting organizations to occasionally build rents. For set up occupants with livelihoods more than 60% of AMI, please counsel the venture's administrative understanding. Supports considering revamping a working with existing occupants ought to contact David Rouge, Director of Operations, ahead of schedule in predevelopment. These activities regularly include interesting rent organizing and different procedures that must be tended to ahead of schedule in the advancement procedure. Contacts: Yolanda Gibbs, (212) 863-7661, Section 8 Coordinator David Rouge, (212) 863-6469, Director of Operations Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 4

Supportive Housing Loan Program: Tenant Income Eligibility Requirements *In impose credit applications, backers may guarantee to serve bring down wage inhabitants at lower rents than are required by these arrangements. Supports that do as such are held to those stricter assentions if the venture gets an assessment credit allotment. See likewise HUD, "Mixing HOME and LIHTC Requirements," http://www.hud.gov/workplaces/cpd/affordablehousing/preparing/web/lihtc/settingrents/blending.cfm **See connected "HOME Limits" outline to decide the quantity of HOME units in a given venture. *** HUD Project-Based Section 8 rules allow vouchers for 25% of the units of a qualified venture in addition to units lodging debilitated or elderly people. **** For HOME + assess credit extends before July 31, 2008, the necessity is 25% of HOME units must win ≤ half of AMI. Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 5

Supportive Housing Loan Program: Maximum Collectible Rent This graph records the most extreme lease including utilities a proprietor is permitted to gather under program controls (known as the greatest collectible lease). A proprietor is constantly permitted to set lease levels beneath the most extreme. *See HUD, "FAQs: Fair Market Rents and Payment Standards." <http://www.hud.gov/workplaces/pih/programs/ph/rhiip/faq_gird.cfm#fmraps> HUD controls, which are more extensive and might be up to 110% Fair Market Rent. See likewise HUD, Title 24, Part 982, Section 8 Tenant Based Assistance, < http://edocket.access.gpo.gov/cfr_2008/aprqtr/24cfr982.503.htm >. **See connected "HOME Limits" graph to decide the quantity of HOME units in a given venture. Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 6

2009-2010 Maximum HOME Program Rents Effective 4/27/2009 *Although the most extreme lease is 30% of 65% of AMI, the salary qualification for low wage units is topped at 60% AMI. See HPD: "Engineers—Housing Finance Programs." 2009 HOME Rent & Income Limits for NYC . 2009. <http://www.nyc.gov/html/hpd/downloads/pdf/2009-home-Rent-pay Limits.pdf> Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 7

2009-2010 SHLP Regulatory Agreement Rents Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 8

2009-2010 Fair Market Rent, Section 8 Rents & Utility Allowances Effective 10/1/2009 McKinney (Shelter Plus Care) financing gives installments at the Fair Market Rent (FMR) for the New York SMSA.* If the inhabitant pays the utilities, the Fair Market Rent is diminished by the comparing utility allowance(s). Take note of: The fitting FMR for any venture based contract is set by the rate powerful on the date the agreement was issued. *See HUD: "Last FY 2010 Fair Market Rent Documentation System." http://www.huduser.org/entrance/datasets/fmr/fmrs/FY2010_code/2010summary.odn?inputname=METRO35620MM5600*New+York%2C+NY+HUD+Metro+FMR+Area&data=2010&fmrtype=Final . Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 9

Low Income Housing Tax Credit-Rent Limits for New York City 2009-2010* Effective 3/19/2009 *For structures put in administration after December 31, 2008. Structures put in administration at the latest December 31, 2008 must utilize distinctive points of confinement. See HPD: "Engineers—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

Slide 10

2009-2010 HOME Limits The quantity of HOME Units in a venture is ascertained by partitioning the HOME sponsorship by the suitable HOME Limit calculate underneath. The HOME Unit include is utilized lease setting and for deciding the wage prerequisites of a venture using HOME assets without expense credits. Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 11

Supportive Housing Loan Program: Registering Legal Rents with DHCR Pursuant to the HPD Regulatory Agreement, all units in a strong lodging undertaking are liable to lease endless supply of development. This implies a Legal Rent for every unit must be set up and enrolled with DHCR. The Legal Rent speaks to the greatest measure of lease that can be charged for a unit under the Rent Stabilization Law. Rental appropriation installments to proprietors may not surpass the enlisted Legal Rent, regardless of the possibility that the directions of the sponsorship program may consider a higher installment. The NYC Rent Guidelines Board sets and distributes most extreme rates for Legal Rent increments once per year. For the duration of the life of a venture, the proprietor must assume liability to enroll yearly increments in the Legal Rent with DHCR. Enrolling Initial Rents with DHCR: ▪ At 75% development fruition, contact HPD SHLP Section 8 Coordinator Yolanda Gibbs (212-863-7661) to plan a meeting and talk about lease setting. Under the Regulatory Agreement, the Legal Rent is the more prominent of a) the FMR or b) a sum in light of obligation administration and working expenses. ▪ Complete and return DHCR enlistment shapes. Directions and structures can be found at: http://www.dhcr.state.ny.us/ora/bars/html/reginsinitial.htm . ▪ keeping in mind the end goal to advise inhabitants about their rights, you should connect Rent Stabilization Lease Riders to the occupant's leases before marking. The format can be downloaded from the DHCR site at: www.dhcr.state.ny.us/ora/frames/pdf/ralr1.pdf After introductory enlistment: ▪ Legal Rents must be enrolled every year with DHCR. Structures and guidelines can be found at the DHCR site. ▪ Follow DHCR Rent Regulations to enroll increments in Legal Rent. ▪ When asking for an expansion in Legal Rent, make sure to finish a Renewal Lease Form and give to inhabitants as per directions on the shape. The Renewal Lease Form can be found at: http://www.dhcr.state.ny.us/ora/frames/pdf/rtp8.pdf . Division of Special Needs Housing, NYC Department of Housing Preservation and Development, 100 Gold Street, NYC March 2010

Slide 12

Sponsors are in charge of enrolling yearly increments in the Legal Rent for all units as per DHCR rules. For units with rental endowments, supporters are additionally in charge of asking for increments in the Maximum Collectible Rent from HPD when material (e.g., when the FMR or Payment Standard increments). Strong Housing: Steps for Increasing Rent To increment Legal Rent (all units): ▪ Ensure Legal Rent is in rent shape ▪ Verify Legal Rent is enlisted with DHCR ▪ Verify lease increment approved by Rent Guidelines Board ▪ Complete DHCR Rent Stabilized Renewal Lease Form with inhabitant 150-190 days before end of rent term. ( Note: Legal Rent enrolled with DHCR must be recorded in Section 2 of this shape; the collectible lease, otherwise known as "special lease," ought to be recorded in Section 5 .) ▪ Attach DHCR Rent Stabilization Lease Rider to Renewal Lease Form. To expand Maximum Collectible Rent (low salary units without rental help) ▪ Ensure Legal Rent is in rent. ▪ Verify Legal Rent is enlisted with DHCR. ▪ Make modification as per increments in AMI or inhabitant salaries (up to most extreme permitted by reserve

SPONSORS