§ 41-26 MIH HAP Contract Rents.
RCNY § 41-26
For rental Affordable Housing Units in MIH Sites that are subject to a HAP Contract, the Regulatory Agreement shall provide that, during the term of such HAP Contract, the Monthly Rent may exceed the Maximum Monthly Rent at initial occupancy and upon renewal of leases, if (a) such Monthly Rent does not exceed the HAP Contract Rents for such rental Affordable Housing Unit, (b) such Monthly Rent, less any Section 8 assistance, does not exceed the lesser of the Maximum Monthly Rent or the Legal Regulated Rent, and (c) for any such MIH Site that is subject to a Homeless Regulatory Agreement, such rental Affordable Housing Units are to the extent possible utilized to satisfy the requirement of such agreement that a specified number or percentage of Dwelling Units are rented to homeless households at initial occupancy and/or upon re-rental at vacancy. (Added City Record 11/19/2021, eff. 12/19/2021)
