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Thank you for your continued interest in the StuyTown Lottery. We are pleased to inform you that we are ready to reprocess your application for a one bedroom unit.
If you are still interested, please follow the Application Checklist (attached) and submit all updated documentation preferably as a reply to this email thread by July 15, 2022.
If you are no longer interested in applying, please let us know as well.
Have a great day,
Thank you so much.
Today I received an email asking me to send my updated documents. ( employment letter- W2 and student affidavit). Given that it didn’t say that they are ready to process my application I am not sure if I should be happy.
Best of luck to you!
If you work for a company and get paid on a W2, they want gross income (and your pay stubs). If you are a freelancer, they want net income (income after deductions).
I suggest you read through this thread, which has a wealth of information and will help answer any questions. Renovations have been discussed in detail. As far as we can tell, all the lottery apartments have been renovated so far.
Also Google Marketing Handbook HPD and download that. That is the bible of this process. Best of luck!
Thank you for this information! I have downloaded the HPD and it clarified the reported income for self employed is net.
I am a bit confused about how 165% median income applies to the eligibility spread. I am applying for a one bedroom, how does this relate to 165% table?
165% AREA MEDIAN INCOME (AMI) UNITS
Annual Household Income (2020 AMI)*** Minimum**** - Maximum
Hi Rose! The Stuy Town 2021 lottery is a bit peculiar. There is only one income bracket, the 165%. But, oddly, the lower number here is a LOT lower than the 165% bracket usually is.
1 Bedroom $1,200 - $2,000 $41,143 - $131,340
So, if your income falls between $41,143 - $131,340 a year, you qualify for a Stuy Town/Peter Cooper Village one-bedroom. Your rent will be from $1,200 - $2,000 a month. You won't know what your rent will be until you are actually assigned to a unit.
Last edited by macnyc2003; 07-07-2022 at 06:56 PM..
Those numbers are also not accurate anymore, I don’t think. Because when I called, Ms Pryce said the upper limit for a one bedroom was $150,000
Based on this i believe the ami has changed from the original posting. the AMI limit changes each year. what was published was the 2020 figures. AMI numbers increase each year but since this is a 2021 lottery, the numbers may only adjust to 2021 and not to 2022. i will see if i can find the 165% figures. the limit also depends on household size. in 2021, i believe this information is relevant:
165% of AMI max limit translates to $137,940 for a single person and $196,845 for a family of four in 2021
How large is your household? i am guessing 2 based on the above.
here is a link for 2022 ami levels. these may not apply
I haven't asked beam. we haven't been offered an apartment yet but sent in paperwork last month. we are hoping for a bedroom
I was reading the faqs and it said in regard to residents applying for three lottery by the way “Yes, you are welcome to apply. Existing Stuytown residents that qualify for the lottery and are offered an apartment will not be charged a lease break penalty” on https://www.stuytownlottery.com/faqs
I was reading the faqs and it said in regard to residents applying for three lottery by the way “Yes, you are welcome to apply. Existing Stuytown residents that qualify for the lottery and are offered an apartment will not be charged a lease break penalty” on https://www.stuytownlottery.com/faqs
Based on this i believe the ami has changed from the original posting. the AMI limit changes each year. what was published was the 2020 figures. AMI numbers increase each year but since this is a 2021 lottery, the numbers may only adjust to 2021 and not to 2022. i will see if i can find the 165% figures. the limit also depends on household size. in 2021, i believe this information is relevant:
165% of AMI max limit translates to $137,940 for a single person and $196,845 for a family of four in 2021
How large is your household? i am guessing 2 based on the above.
here is a link for 2022 ami levels. these may not apply
Thanks everyone!! Still don't understand how to do the math with the 163% of median...but I guess I don't need to lol. Fortunately/unfortunately I am no where near that top number. One other concern I have, my income in 2020 suffered greatly due to COVID changes, falling below the minimum, and barely eeked out in 2021 (went fullly remote, went from w-2 to self employed)...but my projections look like I am in the ballpark and make the minimum cut off looking ahead.
So my question is...does anyone know if they are making any considerations for the impact from COVID?
Thanks, this forum is indeed a life line! Wishing everyone best of luck!!
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