§ 51-06 Election Eligibility.
RCNY § 51-06
For purposes of paragraph (r) of the Act: a. Whether a Rental Project or Homeownership Project has received benefits pursuant to section four hundred twenty-one-a of the real property tax law shall be determined by whether a property tax bill quarterly statement issued for such Rental Project or Homeownership Project by the Department of Finance indicates such benefits. b. Except with respect to dwelling units that will be rented through referrals from the City for homeless households who meet the applicable income requirements and other eligibility criteria permitted by the Agency's marketing guidelines, any Rental Project or Homeownership Project that previously applied to receive benefits pursuant to section hour hundred twenty-one-a of the real property tax law and thereafter elects to receive benefits pursuant to paragraph (r) of the Act, shall not be allowed to change the affordability designation of any dwelling units for which the Agency commenced processing households for occupancy on or before the date upon which such Rental Project or Homeownership Project makes such election. (Added City Record 9/26/2017, eff. 10/26/2017; amended City Record 1/7/2021, eff. 2/6/2021)
