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Adopted Rules: Closed to Comments

Adopted Rules Content: 

HPD’s rule exempts motels and tourist cabins from the replacement ratio requirement. Thus, if there was a motel or tourist cabin on the eligible site three years prior to the commencement date, the motel rooms or tourist cabins that were demolished, removed or reconfigured would not each have to be replaced with an affordable housing unit.

Effective Date: 
Wed, 09/12/2018

Proposed Rules: Closed to Comments

Agency:
  • Department of Housing Preservation and Development
Comment By: 
Tuesday, July 24, 2018
Proposed Rules Content: 

HPD’s proposed rule would exempt motels and tourist cabins from the Real Property Tax Law Section 421a(16) replacement ratio requirement so that if there was a motel or tourist cabin on the eligible site three years prior to the commencement date, the motel rooms or tourist cabins that were demolished, removed or reconfigured would not each have to be replaced with an affordable housing unit.

Keywords:
Subject: 

Real Property Tax Law Section 421-a(16) Replacement Ratio Requirement

Location: 
HPD
100 Gold Street Room 9-P10, 9th floor
New York, NY 10038
Contact: 

Meilan Chiu, Director of Operations and Policy Analysis, 100 Gold Street, Room 9Z-2, New York, New York 10038

Download Copy of Proposed Rule (.pdf): 
PDF icon replacement_ratio_proposed_rule_amendment_approved_by_law_and_ops_published_in_the_citiy_record_on_6-8-18.pdf