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Old 08-01-2018, 09:17 AM
 
32 posts, read 21,374 times
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Hello,

Family of four falling generally within the 165%AMI bracket. My spouse recently left her job (at the end of May) to start a business that opened in July 18. We have just been asked to interview for a housing lottery.

Without any income from the spouse, we would not meet income guidelines for this bracket, but the business is too new to use as a source of income. I'd have no idea what documentation to provide regarding self-employment. I appreciate that it is google-able, but everything points in the direction of previous years' tax returns which did not include this source of income.

If anyone has any suggestions about something feasible that we could provide or how our situation might be viewed, I'd be grateful.

Thanks!
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Old 08-01-2018, 10:12 AM
 
Location: New York, NY
2,714 posts, read 2,274,083 times
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If you don't have pay stubs, you will have to provide tax returns going back two years - in the same line of work, so that the marketing agent can make an estimate of future income.
You will also have to provide a notarized letter from either an accountant or from yourself stating how much you make now more or less.

Something else - if you are no longer making the 165% - or whatever income you used to apply for the housing lottery, you will not qualify.
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Old 08-01-2018, 11:40 AM
 
1,059 posts, read 524,332 times
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"Something else - if you are no longer making the 165% - or whatever income you used to apply for the housing lottery, you will not qualify."

Not necessarily. If there are available units for their current income, then it wouldn't matter if they no longer earned enough for the 165% band. Of course, if there aren't, then they would be SOL. You aren't disqualified just because you no longer have the same income you did when you applied.
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Old 08-01-2018, 12:11 PM
 
50 posts, read 43,002 times
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Quote:
Originally Posted by randomperson2 View Post
"Something else - if you are no longer making the 165% - or whatever income you used to apply for the housing lottery, you will not qualify."

Not necessarily. If there are available units for their current income, then it wouldn't matter if they no longer earned enough for the 165% band. Of course, if there aren't, then they would be SOL. You aren't disqualified just because you no longer have the same income you did when you applied.
What randomperson2 said...
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Old 08-01-2018, 12:11 PM
 
Location: Eric Forman's basement
1,986 posts, read 2,116,862 times
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This is a complicated issue.

This family may end up falling between the cracks: unable to qualify for the 165% bracket but also ineligible for any possible lower bracket.

The spouse who just started her own business may not have income now, but logically we would expect that she will making money in the future. That projected income will be calculated by the agent. What that figure will be is anyone's guess.

On the other hand, the family won't qualify for a lower bracket based on the other spouse's income as sole provider. That is because of the concept of continuing need. A dip in salary that is viewed as temporary will not qualify the person for a lower rent. The program wants to reserve the units for people who will likely not have big income gains in the near future.

Here's what the marketing handbook says:

5 Continuing Need
Eligibility is also dependent on whether the applicant can demonstrate a
“continuing need” for housing assistance. Any City-assisted housing
development aims to serve individuals and families with a true, continuing need
for housing assistance and not those with other financial resources available or
those who have a recent history of higher earning power and are only temporarily
at an income level eligible for the program. In determining “continuing need” for
these programs, the criteria in this section must be satisfied, or the applicant is
not eligible.


https://www1.nyc.gov/assets/hpd/down...g-handbook.pdf

Of course I'm not an expert, and this is just what I think might happen. But because it's hard to fill these 165% apartments, maybe the agent can be more flexible.

As for what you can do to be more successful, I don't see anything concrete. The numbers are going to be what they are. It's just a matter of how the agent will interpret them.

Reading the marketing guidelines, linked above, will answer a lot of your questions.

Please post here after you find out where you stand!

Best of luck!

Last edited by macnyc2003; 08-01-2018 at 12:58 PM..
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Old 08-01-2018, 12:46 PM
 
Location: New York, NY
2,714 posts, read 2,274,083 times
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what macnyc2003 said.
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Old 08-01-2018, 03:45 PM
 
1,059 posts, read 524,332 times
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If they insist on using the spouse's prior-year income in calculating the total household income (which I think is most likely, although the judgment of these agents is quite erratic), then they would fall into the 165% band of income and should qualify for the 165% apartments.

If they impute a particular income to the spouse (from a small business--bet that's super-reliable), and that puts the household in a different bracket, the family should still qualify for apartments in that bracket, if any. The family will not be disqualified just because it's no longer making "the income...used to apply for the lottery." If they have determined what the income from the business should be, how could they then argue that it is temporary? The only possible issue is if they decide that the loss of income was "voluntary"--but, in that case, they should refuse to use the business income, instead use the prior year's income...and the family again qualifies for 165% apartments.

Note that the examples offered in the handbook appear to involve people who would not qualify based on the prior income, but would qualify based on the current income. This family, by contrast, would qualify for 165% apartments based on the prior income. It might also qualify for lower-income apartments based on the current income. But the handbook doesn't allow for rejection for an otherwise qualified applicant just because their income, which was already qualifying, has decreased since then. You're allowed to earn less money, you just may not be allowed to qualify for lower brackets based on that income.

(Another way of looking at it is that if your income was qualifying at the time and has not increased, you have, in fact, demonstrated continuing need. You showed need in the prior year, and you still have it.)
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