§ 50-01 Definitions.
RCNY § 50-01
As used in this chapter, the following terms have the following meanings. Capitalized terms that are not specifically defined in this chapter have the meanings set forth in any of the following provisions with respect to properties receiving benefits pursuant thereto: section 421-a(1-15) of the Real Property Tax Law, section 421-a(16) of the Real Property Tax Law, section 421-a(17) of the Real Property Tax Law, section 467-m of the Real Property Tax Law, or section 485-x of the Real Property Tax Law, as relevant. 90% Limit. "90% Limit" means, with respect to any unit, that the income of the household renting such unit does not exceed ninety percent of the area median income, adjusted for family size, at the time that such household initially occupies such unit, and that the rent at the time of initial rental and upon each subsequent rental following a vacancy does not exceed thirty percent of ninety percent of the area median income, adjusted for family size, minus the amount of any applicable Utility Allowance. 90% Unit. "90% Unit" means a unit that complies with the 90% Limit upon initial rental and upon each subsequent rental following a vacancy. 125% Limit. "125% Limit" means, with respect to any unit, that the income of the household renting or purchasing such unit does not exceed one hundred twenty-five percent of the area median income, adjusted for family size, at the time that such household initially occupies such unit, and that either (a) for a multiple dwelling owned and operated as a rental, the rent at the time of initial rental and upon each subsequent rental following a vacancy does not exceed thirty percent of one hundred twenty-five percent of the area median income, adjusted for family size, minus the amount of any applicable Utility Allowance, or (b) for a multiple dwelling owned and operated as a condominium or cooperative development by individual condominium unit owners or shareholders, the sales price at the time of initial sale results in mortgage payments (including both interest and principal calculated at the Mortgage Rate and assuming the mortgage constitutes 90% of the purchase price) and common charges or carrying charges, respectively, that, collectively, do not exceed thirty percent of one hundred twenty-five percent of the area median income, adjusted for family size. 125% Unit. "125% Unit" means (a) if a multiple dwelling is owned and operated as a rental, a unit that complies with the 125% Limit upon initial rental and upon each subsequent rental following a vacancy, or (b) if the multiple dwelling is owned and operated as a condominium or cooperative development by individual condominium unit owners or shareholders, a unit that complies with the 125% Limit upon the initial sale of such unit. 421-a Act. "421-a Act" means subdivision 8 of section 421-a of the Real Property Tax Law. Agency. "Agency" means the department of housing preservation and development. AHCC Act. "AHCC Act" means subdivision 7 of section 467-m of the Real Property Tax Law. ANNY Act. "ANNY Act" means subdivision 9 of section 485-x of the Real Property Tax Law. Applicant. "Applicant" means an applicant for Benefits and any successor to such applicant, including, but not limited to, any Owner, or any employer of Building Service Employees for such applicant, successor or Owner, including, but not limited to, a property management company or contractor. Apprenticeship Program. "Apprenticeship Program" means an apprenticeship program registered with the New York State Department of Labor in conformity with the provisions of Article 23 of the Labor Law. Benefits. "Benefits" means real property tax exemption benefits pursuant to section 421-a of the Real Property Tax Law, section 467-m of the Real Property Tax Law or section 485-x of the Real Property Tax Law, as applicable. Benefits Ineligibility Letter. "Benefits Ineligibility Letter" means the letter that the Agency issues to the Applicant indicating that such Applicant is ineligible for Benefits. Comptroller. "Comptroller" means the comptroller of the city of New York or his or her designee. Comptroller Schedule. "Comptroller Schedule" means the annual Building Service Employee Prevailing Wage Schedule published by the Comptroller that is in effect at the time the relevant Building Service Employee performs the work and that is published at www.comptroller.nyc.gov/wages. Construction Benefits. "Construction Benefits" means Benefits for the period before issuance of either a permanent certificate of occupancy for the entire building or a temporary certificate of occupancy for all of the residential areas contained therein. Extended Affordability Act. "Extended Affordability Act" means paragraph (g) of subdivision 17 of section 421-a of the Real Property Tax Law. Final Certificate of Eligibility. "Final Certificate of Eligibility" means (a) the document issued by the Agency in accordance with 28 RCNY Chapter 6 that provides for Post-Construction Benefits; (b) the document issued by the Agency in accordance with 28 RCNY Chapter 49 which provides the Extended Benefit; (c) the document issued by the Agency in accordance with 28 RCNY Chapter 51 that provides for Affordable New York Housing Program Benefits; (d) the document issued by the Agency in accordance with 28 RCNY Chapter 63 that provides for ANNY Program Benefits; or (e) the document issued by the Agency in accordance with 28 RCNY Chapter 64 that provides for AHCC Program Benefits. Minimum Average Hourly Wage Act. "Minimum Average Hourly Wage Act" means paragraph (c) of subdivision 16 of section 421-a of the Real Property Tax Law. Mortgage Rate. "Mortgage Rate" means the single family mortgage rate for a thirty-year fixed rate loan established by the Federal Home Loan Mortgage Association and the Federal National Mortgage Association plus 150 basis points that is either (a) for purposes of the application for a Preliminary Certificate of Eligibility, quoted for the month in which the construction of such multiple dwelling commences, or (b) for purposes of the application for a Final Certificate of Eligibility, quoted for the month in which the first certificate of occupancy or temporary certificate of occupancy for the first unit in such multiple dwelling that is owned and operated as a condominium or cooperative development by individual condominium unit owners or shareholders, is issued. New 421-a Act. "New 421-a Act" means paragraph (h) of subdivision 16 of section 421-a of the Real Property Tax Law. Order. "Order" means an order issued by the Agency pursuant to paragraph (d) of the 421-a Act, subparagraph (iv) of the New 421-a Act, subparagraph (iv) of the Extended Affordability Act, subparagraph (ix) of paragraph (c) of the ANNY Act, or subparagraph (ix) of paragraph (c) of the AHCC Act, respectively, that either (a) adopts, in whole or in part, or rejects a Report and Recommendation, or (b) approves any Stipulation of Settlement between the Comptroller and the Applicant. Owner. "Owner" means the fee owner of the real property receiving Benefits and any ground lessee, master lessee, sublessor or sublessee of such real property. Post-Construction Benefits. "Post-Construction Benefits" means Benefits for the period after issuance of either a permanent certificate of occupancy for the entire building or a temporary certificate of occupancy for all of the residential areas contained therein. Preliminary Certificate of Eligibility. "Preliminary Certificate of Eligibility" means the document issued by the Agency in accordance with 28 RCNY Chapter 6 that provides for Construction Benefits. Prevailing Wage. "Prevailing Wage" means the prevailing wage and supplement rates for the various classifications set forth in the Comptroller Schedule. Prevailing Wage Requirement. "Prevailing Wage Requirement" means the requirements that all Building Service Employees receive the Prevailing Wage as such requirements are established (i) under the 421-a Act, the New 421-a Act, the Extended Affordability Act, the ANNY Act, or the AHCC Act, and (ii) this chapter, that are applicable: (a) with respect to the 421-a Act, to any Multiple Dwelling whose construction began on or after December 28, 2007 for the duration of Benefits, (b) with respect to the New 421-a Act, to any Eligible Site for the entire Restriction Period or Extended Restriction Period, as applicable, (c) with respect to the Extended Affordability Act, to any Extended Affordability Property for the entire Extended Affordability Period, (d) with respect to the ANNY Act, to any Eligible Site for the duration of the applicable Benefits period, regardless of whether Benefits are revoked or terminated, and (e) with respect to the AHCC Act, to any Eligible Multiple Dwelling for the duration of the applicable Benefits period, regardless of whether Benefits are revoked or terminated, except as otherwise provided in paragraph (e) of the 421-a Act, subparagraph (v) of the New 421-a Act, subparagraph (v) of the Extended Affordability Act, paragraph (d) of the ANNY Act, or paragraph (d) of the AHCC Act, as applicable. Notwithstanding anything to the contrary contained herein or in the 421-a Act, the New 421-a Act, the Extended Affordability Act, the ANNY Act or the AHCC Act, such requirements shall only be applicable to persons who are employed at a building, Eligible Multiple Dwelling, Eligible Site or Extended Affordability Property, as applicable, for at least a ninety day period. Report and Recommendation. "Report and Recommendation" means a report and recommendation issued by the Comptroller or the Comptroller's designee after a hearing is conducted regarding an alleged violation of the Prevailing Wage Requirement. Stipulation of Settlement. "Stipulation of Settlement" means a stipulation of settlement executed by the Comptroller and an Applicant regarding an alleged violation of the Prevailing Wage Requirement. Utility Allowance. "Utility Allowance" means an allowance set forth by the Agency for the payment of utilities where the tenant of a 90% Unit or a 125% Unit, as applicable, is required to pay all or a portion of the utility costs with respect to such unit in addition to any payments of rent. (Added City Record 9/23/2016, eff. 10/23/2016; amended City Record 9/26/2017, eff. 10/26/2017; amended City Record 2/6/2018, eff. 3/8/2018; amended City Record 2/11/2019, eff. 3/13/2019; amended City Record 1/24/2020, eff. 2/23/2020; amended City Record 3/3/2025, eff. 4/2/2025)
