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Rents for Mandatory Inclusionary Housing (MIH) Affordable Housing Units

Rule status: Adopted

Agency: HPD

Effective date: December 19, 2021

Proposed Rule Full Text
HPD-Proposed-Amendment-of-Inclusionary-Housing-Rules-for-publication.pdf

Adopted Rule Full Text
Final-Amendment-of-MIH-HAP-Rule-Legal-12139793_1-1.pdf

Adopted rule summary:

The rule amendments allow Mandatory Inclusionary Housing (MIH) affordable housing units in buildings that are subject to Housing Assistance Payments (HAP) Contracts, to register HUD Contract Rents as the Legal Regulated Rent, which could be above the current cap of 30% of the applicable Income. This would allow owners of such projects to continue to collect the full subsidy available through the HAP Contract.

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