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What is NYC AC § 26-2802?

Quick Answer

This section mandates that developers receiving city financial assistance for housing projects allocate at least 15 percent of rental units for homeless individuals and families. The units must be subject to a regulatory agreement that restricts occupancy based on income. Applies to developers of housing development projects receiving city funding.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 26-2802 Set asides.

AC § 26-2802

The department shall require that any developer who receives city financial assistance for a housing development project sets aside for homeless individuals and families at least 15 percent of the number of dwelling units offered for rent in such housing development project that are subject to a regulatory agreement requiring that occupancy of such units be restricted based on the income of occupants in such housing development project. (L.L. 2020/019, 1/19/2020, eff. 7/1/2020)

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