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|  Inclusionary Housing Program Overview Please note: The following tax incentive program is for developers and future or current property owners. If you are looking for an affordable apartment, please visit our Affordable Housing Hotline. Additionally, HPD's partners are required to advertise available affordable apartments in daily and local newspapers. Inclusionary Housing Program Overview The following provides a general outline of the Inclusionary Housing Program and its variations by zoning district listed. The Inclusionary Housing Program provides a zoning bonus for multiple dwelling developments in return for new construction, substantial rehabilitation, or preservation of permanent affordable housing. The Program is designed to preserve and promote a mixture of low-income, moderate-income, middle-income, and market-rate housing, particularly within neighborhoods experiencing increases in market values.Floor Area Bonus Developments providing affordable housing are eligible to develop additional floor area through an Inclusionary Housing Bonus (IHB), within height and bulk regulations tailored specifically to each district. Affordable units can be provided in two ways:
Eligible Applicants Owners of existing affordable units or developers of sites to be built as affordable must apply for a Lower Income Housing Plan Written Agreement with the Department of Housing Preservation and Development (HPD). Owners of market-rate developments wishing to purchase IHBs off-site must contact affordable housing developers directly to discuss the terms of their Inclusionary Housing partnership. Application Process Applicants must submit the information indicated on the Lower Income Housing Plan (LIHP) application to HPD, and send a copy of the application to the local Community Board. Upon HPD approval of the application, the developer or owner will enter into a written agreement with HPD that will ensure affordability in perpetuity. HPD will direct the Department of Buildings to issue a new building permit allowing for a zoning bonus, which the applicant can use or, if building off-site, sell to a developer of nearby market-rate housing. Tenant selection must comply with HPD marketing guidelines, and initial rent-up will be conducted through a lottery supervised by HPD. Upon completion of the affordable housing, HPD will issue certificates directing the Department of Buildings to issue a certificate of occupancy for each development using the zoning bonus. Additional Materials Inclusionary Housing Application one hundred dollar ($100) deposit is required at the time of filing the LIHP to be applied toward the filing fee of: one thousand dollars ($1000) per affordable unit to be created for the first fifty (50) units and five hundred dollars ($500) for each additional affordable unit. Total fee must be paid prior to issuance of the LIHP written agreement. Financing and Tax Benefits Affordable housing generating bonuses for projects in R10 districts cannot use most, city, state, and federal programs with the exception of tax-exempt bond financing and Low Income Housing Tax Credits. In the rezoned areas all affordable housing subsidies may be used to build the affordable housing units that generate the zoning bonus. Please visit the eligible districts’ pages for further information regarding the specific procedural requirements and benefits granted in particular districts. STANDARD R10 DISTRICTS (Citywide, in all R10 or equivalent zoning districts) For More information contact: Arden Sokolow More Info: NYC Housing Development Corporation Division of Housing & Community Renewal NYC Department of City Planning U.S. Department of Housing and Urban Development New York State Housing Finance Authority
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