What How For Whom Where WHAT is affordable housing? The - - PowerPoint PPT Presentation

• What
• How
• For Whom
• Where

* AFFORDABLE HOUSING *

WHAT

is affordable housing?

…no more than1/3

• f 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

• ur 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