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Old 04-24-2012, 01:52 PM
 
Location: VIA VERDE :)
134 posts, read 189,437 times
Reputation: 52

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City lottery
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Old 05-07-2012, 09:53 AM
 
6 posts, read 28,983 times
Reputation: 10
Hey guys
Did anyone here back??
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Old 05-22-2012, 11:07 AM
 
4 posts, read 9,497 times
Reputation: 11
Did anyone get an apartment???
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Old 06-13-2012, 11:45 PM
 
4 posts, read 9,497 times
Reputation: 11
I guess no one here
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Old 06-14-2012, 10:59 AM
 
43 posts, read 119,702 times
Reputation: 19
nope not as of yet
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Old 06-14-2012, 11:32 AM
 
Location: Manhattan
11,371 posts, read 11,347,911 times
Reputation: 4812
These are generally 80/20 buildings. In exchange for tax breaks and zoning perks, a developer will promise the City to make 20% of his apartments available to those close to the median income or considerably below (different numbers for different complexes.)
Then the City steps away and the developer runs the show, does the advertising, conducts interviews, determines tenant suitability, etc.
At this point the City is no longer involved.

Calling them lotteries is not quite correct because most people who fall within the VERY TIGHT income limits, residency, family size limits, and gets their application in on time and aren't axe murderers will get an apartment. Outside the limits and all the luck in the world won't get you in. They bend the strict rules for NOBODY!

So anyone who meets the income requirements should get their name in EVERYWHERE and you will eventually get an apartment that would cost you 5 times as much on the open market.
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Old 06-14-2012, 07:34 PM
 
3,109 posts, read 2,742,934 times
Reputation: 1205
Post 142(d) - A stuffy way to say 80/20

Quote:
Originally Posted by Kefir King View Post
Outside the limits and all the luck in the world won't get you in. They bend the strict rules for NOBODY!
With all due respect, Kefir, the above (in boldface black) is a misconception. Strict rules, yes, but it's the landlords who have to walk on eggshells. The City and State do not bend the strict rules for any landlord. When they say 20% of units need to be low-income, they mean it and they don't kid around. 19% or lower fails to comply. ........ There's even a special law to help with that for "NYC only". It helps landlords comply and, as I interpret it, it gives a second wind for apartment-hunters who might've assumed their applications were thrown out! The Section 142(d)(6) law tailors 142(d)(1)(B) to allow certain NYC 80/20 properties to expand service to different levels of low-income folks, e.g., low-income applicants who earn a slightly higher income than the normal constraints of 142(d)(1)(A), which states minimum compliance rules for properties who must obey 142(d) laws. This seems to make a few more subsidized units available (25% as opposed to just "20%"). Now five percent more might not sound like much, but it can mean the world to the folks who get an apartment! (Read 142(d)(1)(B) as is, then read how 142(d)(6) alters it, then examine mandatory Form 8703 which must be submitted to Big Brother)

So 80/20 with 142(d)(6) is like 75/25 in the files/system but the 80/20 nickname stays intact to avoid confusion. 142(d)(6) as I see it, creates a buffer of protection/flexibility for owners to avoid falling below the "20%" rule, resulting in penalties (see 142(d)(7)) should their low-income tenants move or get better jobs or die, etc. So the point is (and this goes against what is quoted in magenta above): Apply even if you think you make too much. Your application might be a blessing to the owner. Income "guidelines" (as seen on the initial public announcement) are just that - Guidelines. This is why income calculations are so lengthy when most of us simply think it's just a matter of quickly looking at W-2's and/or 1099's. It's not like that. Apply, apply, apply. You have nothing to lose but a postcard, ink, and a postage stamp. As for the word "lottery" it's kind of funny because both (Powerball and housing) are super popular and require lots o' luck!

Last edited by bmwguydc; 06-15-2012 at 12:04 AM.. Reason: Per member request, corrected a typo
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Old 06-15-2012, 07:44 AM
 
Location: New York City via Austin via Chicago
910 posts, read 1,872,739 times
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I work in development and am a market renter in an 80/20 building which is actually the sister property of the soon to be West 39th street apts aka Crystal Green apts.

The screening for the affordable tenants are vigorous. They must of course follow the strict income guidelines but also, they must have good credit which in essence eliminates TONS of applicants. Of course no criminal records either. Most of the 20% tenants are quality tenants that are screened vigorously. Of course, some bad may slip through the cracks(affordable and market).
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Old 06-15-2012, 11:35 AM
 
Location: New York City
25 posts, read 50,299 times
Reputation: 17
Quote:
Originally Posted by latikeriii View Post
I work in development and am a market renter in an 80/20 building which is actually the sister property of the soon to be West 39th street apts aka Crystal Green apts.

The screening for the affordable tenants are vigorous. They must of course follow the strict income guidelines but also, they must have good credit which in essence eliminates TONS of applicants. Of course no criminal records either. Most of the 20% tenants are quality tenants that are screened vigorously. Of course, some bad may slip through the cracks(affordable and market).
Hi Latikeriii,
I have a question, probably you can give me some valuable information . I live in an affordable appartment, but now I applied for 2 bedrooms apartment in another development. I went to the initial appointment and already had my home visit about 6 weeks ago. The development is scheduled to open on the spring (now). After the home visit I have not heard from the management office and when I call all they say is that my application is active. Is that true that if you do well on the home visit all you have to do is wait from them to call you to pick the apartment? I have heard a lot of stories in this forum. I heard someone saying that after the home visit she was put back on the waiting list . I just would like to have an idea of what to expect. Thanks
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Old 06-15-2012, 12:19 PM
 
Location: New York City via Austin via Chicago
910 posts, read 1,872,739 times
Reputation: 335
Quote:
Originally Posted by manuel0509 View Post
Hi Latikeriii,
I have a question, probably you can give me some valuable information . I live in an affordable appartment, but now I applied for 2 bedrooms apartment in another development. I went to the initial appointment and already had my home visit about 6 weeks ago. The development is scheduled to open on the spring (now). After the home visit I have not heard from the management office and when I call all they say is that my application is active. Is that true that if you do well on the home visit all you have to do is wait from them to call you to pick the apartment? I have heard a lot of stories in this forum. I heard someone saying that after the home visit she was put back on the waiting list . I just would like to have an idea of what to expect. Thanks
I can't give you an actual answer, it could be either. Since your application is active, that's a good thing. It could go either way, at this point it's more luck than anything. Keep calling and showing that you're interested and make sure that your contact info is CURRENT.
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