Income question (apartment, unemployed, calculation)

[Tapanzee]

I’m currently in the 130% AMI range and have low log numbers for several buildings I’m interested in. I expect to be called in the next 2-3months. However I was planning to take a medical leave of absence for 3 months starting New Years. For those 3 months, I would be paid 60% of my normal salary, putting me well below 130% AMI. However as soon as I return to work, I’ll be 130% AMI again. Would I be disqualified from the current 130% AMI units I applied for if I got called in while on my leave? Or would a note from my employer citing my salary situation suffice?

[macnyc2003]

I’m thinking you may be disqualified if you are called during your leave.

It may just not be the right time for you, for that reason. You may also get lucky and not be called until your leave is over.

I often say that these lotteries capture a moment in time. For most people, their situation is constantly changing. A person may have a great job one day and be unemployed the next, or vice versa. You may qualify as a single person and then get married, etc.

On the bright side, there seem to be lots of opportunities for people who fall in the 130% bracket, since developers seem to like that space. So you will have opportunities in the future! Best of luck!

[KiBoogieDownBx]

Originally Posted by macnyc2003

I’m thinking you may be disqualified if you are called during your leave.

It may just not be the right time for you, for that reason. You may also get lucky and not be called until your leave is over.

I often say that these lotteries capture a moment in time. For most people, their situation is constantly changing. A person may have a great job one day and be unemployed the next, or vice versa. You may qualify as a single person and then get married, etc.

On the bright side, there seem to be lots of opportunities for people who fall in the 130% bracket, since developers seem to like that space. So you will have opportunities in the future! Best of luck!

you think you could hold off on that medical leave until you get the apartment?

Sorry that was for OP

[KiBoogieDownBx]

Originally Posted by Tapanzee

I’m currently in the 130% AMI range and have low log numbers for several buildings I’m interested in. I expect to be called in the next 2-3months. However I was planning to take a medical leave of absence for 3 months starting New Years. For those 3 months, I would be paid 60% of my normal salary, putting me well below 130% AMI. However as soon as I return to work, I’ll be 130% AMI again. Would I be disqualified from the current 130% AMI units I applied for if I got called in while on my leave? Or would a note from my employer citing my salary situation suffice?

You think you could hold off on that medical leave?

[WildAboutHarry]

Originally Posted by Tapanzee

… I expect to be called in the next 2-3months. However I was planning to take a medical leave of absence for 3 months starting New Years. For those 3 months, I would be paid 60% of my normal salary, putting me well below 130% AMI. However as soon as I return to work, I’ll be 130% AMI again. Would I be disqualified from the current 130% AMI units I applied for if I got called in while on my leave? Or would a note from my employer citing my salary situation suffice?

This handbook from 2021 might be useful to you. See page 33 on Appeals, and the section on Income starting on page 43.
https://www1.nyc.gov/assets/hpd/down...dbook-8-21.pdf

Make up enough income for the three months of pay periods to put you back into 130%.
If necessary. Seek a workaround to restore the amount of income needed to keep you in the 130% AMI. Talk with the HR department, perhaps you can get an advance on salary in the necessary amount while on leave. Or could you take just enough of a disbursement from a retirement fund as income to get you inside 130% AMI? Restrictions and penalties for dipping into retirement accounts might have been lifted for the pandemic, and rules might be lower for your medical reasons. Could a scheme be made to pay yourself qualified income in the needed amount from your savings? Could you create a business and take the income from it?

Talking with patient CPA, a tax person, or financial planner might be useful.

[randomperson2]

Actually, I think p. 44-47 indicate you may have a chance. They are supposed to use the *highest* of the three income calculations. It sounds like your tax return from last year will reflect a 130% AMI income, yes?

Now, it also says ”If the results of the different calculation methods described above
have significant discrepancies that impact eligibility, the Marketing
Agent must conduct further review to determine whether the highest
calculation is also the most accurate.”

But that further review would give you an opportunity to document that the dip in income is a one-time, nonrecurring event and your true salary is the 130%. I think you might have to advocate for yourself, but I'd say those rules favor you. It's the reverse of people who get a nonrecurring bonus and can prove that their regular annual income doesn't include that bonus.