Village of Nyack, NY Affordable Housing

This Chapter 120 (Affordable Housing) of the Village Code ("Chapter 120") shall apply to all new multifamily developments (five or more residential dwelling units) in the following districts: SFR-1, SFR-2, TFR, MFR-1, MFR-2, MFR-3, DMU, RMU, RO, CC, WF, M and H.

(2)

This Chapter 120 shall not apply to any multifamily development which has received site development plan approval prior to the effective date of this chapter.

(3)

It is the purpose of this Chapter 120 to improve the public welfare by requiring that, within all residential or mixed-use developments containing five or more dwelling units created by building permit, subdivision or site development plan approval, including new construction, conversion of nonresidential structures to residential use, or substantial renovation of vacant structures, no less than 10% of the total number of dwelling units for sale or for rent must be created as affordable and workforce rental units and/or affordable and workforce for sale housing units ("affordable units"), rounded to the nearest whole number (when the computed number of units contains 0.5, then the number of required units will be rounded up to the next whole number).

(4)

Any units financed through the federal HOME Investment Partnerships Program ("HOME") and, therefore, subject to the HOME program's affordability and participation requirements, will count toward the required affordable units in this Chapter 120, but not be subject to any of the other terms of this chapter.

Minimum and maximum household income for affordable and workforce rental units: A rental residential dwelling unit that is priced to be affordable to a qualified household whose income is not less than 40% of AMI, unless rental subsidies are available, and not greater than 60% of AMI and for which the annual housing cost of the unit, defined as rent plus any tenant-paid utilities or other landlord fees, for the approved household does not exceed 35% of the qualified household's income.

Minimum and maximum household income for affordable and workforce units to be purchased: A for-sale residential dwelling unit that is priced to be affordable to a qualified household whose income is not less than 60% of AMI and not greater than 120% of the AMI and for which the annual housing cost of a unit, including common charges, maintenance fees, principal, interest, real estate taxes, insurance and amenities charges, if any, does not exceed 35% of the qualified household's income.

(5)

Prior to occupancy, the developer, prospective renters and home buyers of the affordable and workforce housing units must provide the Village of Nyack, or its monitoring agent, the necessary financial data, as described in the Village of Nyack affordable housing program policies and procedures, to determine if they qualify to rent or purchase the affordable and workforce units, which Village of Nyack affordable housing program policies and procedures ("policies and procedures") shall be adopted by resolution of the Village Board, and which policies and procedures may be amended, from time to time, by resolution of the Village Board. The policies and procedures shall be maintained, and may be viewed by the public, in the office of the Village Clerk/Treasurer.

(6)

The Village Board may designate such additional person(s), authorities and procedures as may be necessary to monitor and administer compliance with the provisions of this chapter.

(7)

At the discretion of the Village Board, and upon showing of good cause, affordable housing requirements for special populations may be waived, which populations shall include the handicapped, infirm or seniors, when such housing is independent living, congregate care or nursing home, or such other housing for special populations that the Village Board recognizes.

(8)

A developer may request a payment of a fee in lieu of providing on-site affordable and workforce housing units. The amount of this fee in lieu is set forth in the Village of Nyack Standard Schedule of Fees, updated periodically via resolution of the Village Board of Trustees.

Buyout payments paid pursuant to Village Code § 120K herein shall be remitted to the Village of Nyack and shall be deposited in the Village of Nyack's Affordable Housing Buyout Fund, which shall be used to either advance affordable housing within the Village of Nyack; to provide grants for credits against the purchase price of residential real estate within the Village of Nyack by qualified persons (persons with incomes less than or equal to 120% of the current Rockland County AMI as determined by HUD); to provide grants for owner-occupied housing rehabilitation projects within the Village of Nyack; or any other use that would assist low-income households within the Village of Nyack to obtain or retain affordable housing.

The Village Board shall be responsible for the administration and approval process of the grants distributed under the Affordable Housing Buyout Fund; however, it may appoint, retain or hire individuals, boards, committees and/or organizations, and/or governmental entities to administer and/or authorize approvals as outlined in this chapter, and the Affordable Housing Buyout Fund may pay administrative fees for such services.

(9)

Affordable and workforce units shall, generally, be distributed evenly throughout the development; however, the Village Planning Board may use discretion in reviewing and approving distribution.

(10)

The exterior and interior appearance of affordable and workforce units shall not distinguish them as a class from other units.

(11)

The provisions of this chapter, insofar as they relate to units constructed within a particular multifamily development, shall be reflected i) in leases if such development is constructed as a rental development; ii) in the condominium prospectus and/or offering plans if the development is constructed as a condominium; or iii) in the cooperative prospectus if the development is constructed as a cooperative.

(12)

The developer and/or the rental agent, condominium or cooperative board, as applicable, shall biannually certify to the satisfaction of the Village Board, or its designated monitoring agent, that the requisite number of affordable rental and for-sale affordable and workforce housing units have been assigned to income-eligible tenants/residents and that any new tenants/residents of affordable and workforce units meet the income guidelines in effect when said new tenants take occupancy. Biannual certifications shall include unit designations and occupant names and shall be signed by the owner or president of the cooperative or condominium board, as applicable. Such certifications shall be reviewed, at the developer's cost, for a fee that can be found in the Village of Nyack Standard Schedule of Fees, updated periodically via resolution of the Village Board, by a monitoring agency contracted by the Village of Nyack to administer its affordable housing program.

(13)

When a multifamily development contains 10% or more affordable and workforce units, the Village Board, Village Planning Board and/or Village Zoning Board of Appeals may:

Waive certain application fees for applicants proposing to build affordable and workforce housing units in the Village of Nyack.

Consider increased zoning densities in multifamily zones up to, but not to exceed, 10% of otherwise allowable housing units.

(c)

Consider such other forms of assistance that may be under the control of the Village or its designated monitoring agent, such as assisting the owner in maintaining a list of qualified applications to rent or purchase affordable and workforce units.

(d)

Actively assist the developer to obtain subsidies from federal, state and local governments for the purpose of providing affordable housing units.

Maximum rent and sales price. The maximum monthly rent and maximum sales price for an affordable and workforce housing unit shall be established in accordance with the Village of Nyack policies and procedures for affordable and workforce housing.

Eligibility.

A rental dwelling unit shall be deemed affordable to a qualified household whose income is not less than 40% of current Rockland County area median income (AMI) and not greater than 60% of the current Rockland County AMI as determined by the United States Department of Housing and Urban Development ("HUD"). No more than 35% of the total monthly household income shall be used to pay for housing costs, which is defined as rent plus any tenant-paid utilities or other landlord fees. If rental subsidies are available to a qualified household, the total household income may be less than 40% of the current Rockland County AMI but cannot exceed 60% of the current Rockland County AMI.

(2)

A for-sale dwelling unit shall be deemed to be affordable to a qualified household whose income is not less than 60% of the current Rockland County AMI and not greater than 120% of the current Rockland County AMI and for which the annual housing cost of a unit, including common charges, maintenance fees, principal, interest, real estate taxes, and insurance, does not exceed 35% of the qualified household's income.

Time period of affordability. Units designated as affordable and workforce housing rental units must remain affordable for a minimum of 99 years from the date of the original lease-up for rental properties. The units designated as affordable and workforce for-sale units must remain affordable for a minimum of 10 years from the date of the original sale for each of the for-purchase units.

Property restriction. A property containing any affordable or workforce housing units must be restricted by using a declaration of restrictive covenant, in recordable form in the Rockland County Clerk's office and acceptable to the Village of Nyack, and which shall ensure that the affordable and workforce housing units shall remain subject to affordability requirements as described in this chapter. Among other provisions, the declaration of restrictive covenant for the for-purchase affordable and workforce housing units shall require that the unit be the primary residence of the resident household selected to occupy the unit. Upon approval, such declaration of restrictive covenant shall be recorded in the Rockland County Clerk's office against the property containing the affordable and workforce housing units prior to the issuance of a certificate of occupancy for any dwelling unit on the property.

Administrative and monitoring agency. The Village of Nyack may designate a qualified not-for-profit organization as monitoring agent to administer the marketing, income and other eligibility requirements, and the monitoring applicable to the affordable and workforce housing units. The costs of such administration and monitoring shall be borne by the developer/owner in accordance with a fee schedule approved by resolution of the Village Board.

Lease renewal requirements.

Occupants of rental affordable or workforce housing units shall be income-certified every two years.

(2)

A person renting an affordable or workforce housing unit shall enter into a lease for a term of not greater than two years. As long as the renter remains eligible and has complied with the terms of the lease, the renter shall be offered renewal leases for a term no greater than two years.

(3)

If a renter's annual gross income should subsequently exceed the maximum then allowable, as defined in this chapter, then the renter shall pay 35% of household income with the amount above the applicable affordable or workforce rent to be deposited on a monthly basis by the landlord, owner, management company, condominium or cooperative board into an affordable housing fund managed by the Village of Nyack. A renter who fails biennial, every other year, recertification due to excessive income shall be subject to eviction.

Resale.

In the case of for-sale workforce housing units, the title to said property shall be restricted so that, in the event of any resale by the home buyer or any successor in title, the resale price shall not exceed the then maximum sales price for said unit for a ten-year period commencing at the date of the original sale, as determined as follows:

The buyers must be determined to be income eligible by the Village's designated monitoring agent and, if appropriate, receive approvals to purchase the units from the applicable condominium or cooperative boards.

The purchase price paid for the unit by the selling owner, increased by the percentage increase, if any, in the Consumer Price Index in the New York-northern New Jersey area, as published by the United States Bureau of Labor Statistics (the "index"), from the month and year in which the selling owner acquired the unit to the month and year in which the seller contracts to sell the unit. If the said Bureau stops publishing this index and fails to designate a substitute index, the Village of Nyack will designate a substitute index.

(c)

The cost of major capital improvements made by the seller of the unit while said seller owned the unit, as evidenced by paid receipts depreciated on a straight-line basis over a ten-year period from the date of completion; provided, however, that approval of the Village's monitoring agent shall be required before the cost of any major capital improvement is included in the resale price.

(d)

In the case of for-sale workforce housing units sold after 10 years from the original sale, the selling owner may sell the property at market value.

Affordable Housing Buyout Fund.

In lieu of providing on-site affordable and workforce housing units, as required under this chapter, the residential development application may set forth the developer's intent to remit a payment, in lieu of providing said on-site affordable housing, to the Village of Nyack's Affordable Housing Buyout Fund. This payment in lieu shall be a nonrefundable fee per required unit, which fee is set forth in the Village of Nyack Standard Schedule of Fees, updated periodically via resolution of the Village Board. This payment in lieu shall subsequently be adjusted annually by the Village Board for all pertinent approvals granted during that calendar year. No building permit shall be issued to commence work on, or relating to, the development until the payment in lieu has been fully remitted. This Affordable Housing Buyout Fund shall be further administered in accordance with the following provisions:

Buyout payments remitted pursuant to Village Code § 120K shall be made payable to the Village, which shall be designated for the Affordable Housing Buyout Fund, which shall be used for property improvement assistance for existing residential and mixed residential/commercial properties within the Village, for program administrative costs, and for other actions taken for the furtherance of improving and increasing affordable housing for low-and moderate-income households Village-wide.