100-Mile Radius Rule (New York, York: rental, calculation, income)

[BPC1999]

I'm curious about the 100-Mile Radius rule and affordable rental units. Is this a forever rule? The way I understand it, if you live in an affordable rental unit, you may NEVER own property within a 100-mile radius of New York City? This seems very restrictive.

What if you inherit?

Anyone have any experience with this, good or bad?

From the Marketing Handbook...

B. PROPERTY OWNERSHIP
1. Asset Calculation
If an applicant owns any real property, the market value of that real property is included in the calculation of household assets and is subject to the asset limit (see Section 5-5.A, “Asset Limits”).
2. Income Calculation
If an applicant owns any real property, the actual or potential rental income from that real property is included in the income calculation.
3. Prohibition – Rental Affordable Unit
For a rental affordable unit, no member of the applicant’s household may own any residential real property in, or within a 100-mile radius of, New York City.
4. Prohibition – Homeownership Affordable Unit
For a homeownership affordable unit, no member of the applicant’s household may own, or have previously purchased, any interest in residential real property.

Source: https://www.nyc.gov/assets/hpd/downl...dbook-8-21.pdf

[mjg713]

I believe this only applies to applying for an affordable rental. But once you are already living in one you are allowed to own other property as long as the rental is kept as your primary residence.