§ 41-13 Monthly Fees and Special Assessments.
RCNY § 41-13
(a)Prior to Initial Occupancy, HPD must approve the Monthly Fees charged to Homeowners. The total amount of increases in Monthly Fees charged to a Homeownership Affordable Housing Unit over a twelve month period, shall be the lesser of: (1) the increase in Monthly Fees required to cover Common Expenses for such twelve month period; and (2) a percentage increase in Monthly Fees equal to the percentage increase in rents approved by the Rent Guidelines Board for two (2) year rent stabilized leases, for such twelve month period.
(b)The combined cost of Monthly Fees and special assessments charged to a Homeownership Affordable Housing Unit in any given twelve month period shall not exceed thirty-five percent (35%) of the Homeowner's Annual Income.
(c)In Partial Inclusionary Buildings, increases in Monthly Fees and/or the levy of special assessments may be charged to Homeownership Affordable Housing Units only if increases in Monthly Fees and/or the levy of special assessments are simultaneously charged to all other Dwelling Units in the Building, for the same purposes as such Monthly Fees and special assessments are charged to such Homeownership Affordable Housing Units.
