The Ruby: 243 W 28 St — Lottery now open (middle-class, living in)
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I just don't understand why they reached to such high log but don't really reply to them. According to the spreadsheet they've reached to log 44xxx for the first batch, followed by the speed they are on now if I were log 44xxx my documents would be outdated by they time they contact again.
They definitely updated the AMIs. Now I fall between both 70% and 80%, hopefully this helps my chances if/when they reach me
*But if they don't get to me until much later in the year my raise will probably put me back squarely at 80%
You'd probably end up in 80% anyway if you are getting a raise kicking you up from 70%. On the employer verification form they specifically ask if you are expected to get a raise in the next 12 months and it sounds like your employer would have to say 'yes'.
I'm honestly unsure which AMI bucket I belong in. Is it the AMI I am closest to? Like absolute value? Or are they true thresholds? For example, if you make $100,000 as a single person, are you 100% AMI (100% AMI = $98k), or are you 110% AMI (110% AMI = 108k).
The new 130% AMI = $128,570, so does that mean you must make AT LEAST 128k? Or cannot exceed 128k?
I have been doing some quick back of the napkin calculations based on how things have gone in other lotteries and I think most of us with CB preference and lower non CB preference should feel pretty good. Other lotteries seem to go quite high into the log numbers, especially with the CB ones, for some reason.
- No CB
- 258 apartments
- As of now, people up to log 3200 have been approved.
- This means only 1 out of 12 people are moving forward with the process for some reason (I assume they are not interested) I know it's tough to extrapolate, but assuming Cb preference here are my back of the napkin calculations: . If 1% of applicants have CB preference (its impossible to know this, but the population of CB5 is <1% of the total population of manhattan), and 1/12 of those move forward, then if you have a CB number your "true number" is your log x .000833 X 2 (because only 50% of apartments are reserved for CB.) If that number is <144 (total numbers of apartments) that is a good sign.
- CB4 which is 167% the size of ours (52000 vs 87000).
- 258 apartments, half of which go to CB
- Numerous CB logs in the 30xxx range moved in. Also saw someone with 60xxx move in but that seems like an extreme outlier.
- So, because they have more apartments than us, you multiply your log number by .56 (144/258) then again by 1.67 (87000/52000) to account for differences in CB sizes) and if your number is <30k, you have a good shot.
- Queens CB2 which is 269% the size of ours (52000 vs 140000)
- 270 apartments, half of which go to CB.
- Log # up to 19xxx has been approved.
- multiply your log number by .53 (140 apartments/270 apartments) then again by 2.69 (their CB/our CB) and if that number is less than 19k you have a good shot.
Anyway, this makes a TON of assumptions and its possibly i made some very crucial mistakes with the math, but it was reassuring crunching these numbers and seeing that other buildings go much higher in the log numbers than you would expect for the CB's and how that may translate to us. The most encouraging thing, however, is that after reading 100s of pages of other posts, it really seems like almost everyone who gets contacted initially for paperwork that checks out ends up with the apartment.
I'm honestly unsure which AMI bucket I belong in. Is it the AMI I am closest to? Like absolute value? Or are they true thresholds? For example, if you make $100,000 as a single person, are you 100% AMI (100% AMI = $98k), or are you 110% AMI (110% AMI = 108k).
The new 130% AMI = $128,570, so does that mean you must make AT LEAST 128k? Or cannot exceed 128k?
I'm honestly unsure which AMI bucket I belong in. Is it the AMI I am closest to? Like absolute value? Or are they true thresholds? For example, if you make $100,000 as a single person, are you 100% AMI (100% AMI = $98k), or are you 110% AMI (110% AMI = 108k).
The new 130% AMI = $128,570, so does that mean you must make AT LEAST 128k? Or cannot exceed 128k?
The AMIs you see from HUD and HPD are the MAX income for each bracket, each building sets their own minimum income for each AMI. Depending on your income, you might fall in multiple AMIs (70% and 80% or 100% and 115% for example). For 130%, have to make *less* than the $128k figure to qualify for those units and *more* than the building-set min for the units you qualify for. The min and max limits are hard lines too, 1$ over or under and you will not qualify. You can always appeal if you are rejected and feel your income was calculated incorrectly.
but has it been applied to this building yet? If not, do they update the floor and the ceiling?
Yea they updated it. When I initially applied I was squarely at 80%.. now I'm overlapping slightly with 70%
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A Question on AMIs...
