* affordable housing * what · income band percentage of area median income (ami) monthly rent...
TRANSCRIPT
• What
• How
• For Whom
• Where
* AFFORDABLE HOUSING *
WHAT
is affordable housing?
…no more than1/3 of your household income
is used to cover housing expenses
The housing affordability standard
calculation used is…
Standard terminology to define
affordable housing…
Affordable Housing Rent/ Sale restricted and regulated
Market Rate Housing Non-restricted and not regulated
Public Housing Mitchell-Lama Publicly-Financed Private Housing
Senior Housing
Supportive Housing
Rent Stabilization
Mandatory Inclusionary Housing (MIH)
Section 8 Vouchers
Types of affordable housing…
HOW
is housing made affordable?
Standard forms of government
subsidies or incentives to create
affordable housing…
• Financial Assistance
• Tax Abatement
• Additional Development Rights
• Operating Subsidies - Vouchers
Providing subsidies and
incentives…
Reduce operating costs = Reduced rents
Increase income potential = Increased affordability
Operating subsidy (voucher) = Affordable rent
Government monitors developments
that use public subsidies and
incentives…
• Rent Restrictions
• Regulatory Agreements
FOR WHOM
is housing affordable?
Analyze household incomes and
housing costs to identify…
• Households with a rent burden
• Households with special needs
Analyze housing supply and need
for affordable housing…
• Availability of existing affordable housing
• Quality of existing housing supply
Analyze housing production
programs to address affordable
housing needs…
• Government programs • Financing
• Taxes
• Zoning and Land Use
• Area Median Income (AMI)
WHY
is Area Median Income important?
Standard government programs
use the AMI to…
Secure federal and state funding programs, which set limits on funding to provide housing resources to households with specific AMIs. Analyze local household incomes to broader AMIs to target resources toward greatest needs. Facilitate our shared commitment to Fair Housing in our city and your neighborhoods.
120% AMI
80% AMI
$81,600
100% AMI
30% AMI 60% AMI
$24,500 $48,960 $65,250 $97,920 $134,640
Retail
Salesperson Taxi
Driver +
Janitor
Teacher +
Firefighter Construction
Worker +
Registered
Nurse
Caseworker
+ Home
Health Aide
165% AMI
2016 HUD Income Limits
for a family of three
(2016)
What is Area Median Income (AMI)?
• Federal measure of median
income for all cities or regions
• Determined annually
• Pegged to family size
Area Median Income for NYC Area
Income Band Percentage of Area Median Income (AMI)
Monthly Rent Required to Prevent Rent Burden
Annual Income for a Three Person Household
Extremely Low Income 0-30% Up to $613 <$24,500*
Very Low Income 31-50% $614-$1,020 $24,501-$40,800
Low Income 51-80% $1,021-$1,631 $40,801-$65,250
Moderate Income 81-120% $1,632-$2,449 $65,251 -$97,920
Middle Income 121-165% $2,450-$3,366 $97,921-$134,640
*Based on 2016 HUD Income Limit
AMI – Rent - Household Income
HPD funds housing for people with incomes falling within a range of incomes
AMI – Unit Size – Rent
What AMI’s look like – Real examples of families moving into HPD developments
$23,838 qualified for a studio at 40% AMI. Self-employed costume designer $27,300 qualified for a 2 bedroom unit at 40% AMI. Medical assistant and her young daughter $40,501 qualified for a 2 bedroom unit at 60% AMI. Doorman, stay at home mom, and young daughter $37,000 qualified for a 3 bedroom unit at 60% of AMI. Hair stylist, Barber, and three young sons $47,000 qualified for a studio unit at 80% of AMI. Young professional working as an assistant fabric buyer $87,000 qualified for a 2 bedroom unit at 130% AMI. Manager of design company, art teacher, and their newborn son.
AMI Affordable for whom…
55,438 affordable apartments as of September 2016
New programs aimed at lower income
households than ever before – 85% of our units
were for families making less than $62,000 for a
family of three
New funding for 15,000 units of supportive
housing
Increased building owner outreach and added
new incentives like financing for energy
conservation
Collaboration with communities to think holistically
about neighborhoods, not just housing
HNY general update…
Increasing Access to Affordable
Housing
HOUSING AMBASSADORS (Brooklyn) • Asian Americans for Equality (AAFE) • Bangladeshi American Community Development and Youth
Services • Churches United for Fair Housing (CUFFH) • Fifth Avenue Committee • Impacct Brooklyn • Local Development Corporation of East New York • Los Sures • Mutual Housing Association of NY • The Actors Fund
WHERE
is HPD affordable housing located?
Navy Green
• Public site RFP
• Mixed-income homeownership,
low-income rental, supportive
housing, market-rate townhouses
• ~450 units total
• Dunn / L&M / PACC (developer)
• Completed except for townhouses
• 30,000 sf of common green space
BAM North Site I – 250
Ashland Place
• Public site RFP
• 52-story, mixed-income rental
• Voluntary Inclusionary Housing
program
• Gotham Organization (developer)
• 586 units (282 affordable, ~50%)
BAM North Site II – 15
Lafayette Ave
• Public site RFP
• 12-story, mixed-income rental
• Jonathan Rose Companies
(developer)
• Construction start May 2015,
projected completion mid-2017
• 50 affordable units (40%)
• ~21,500 sf of community facility
space, including the Center for
Fiction and Mark Morris Dance
Center
Ingersoll Senior
• NYCHA NextGen RFP site
• 15-story, senior rental
• BFC Partners (developer)
• Construction expected June 2017
• 145+ senior units
(100% affordable)
• LGBTQ senior center