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PRESENTATION
Affordable housing plans for 73-99 Empire Boulevard
0:38:12
ยท
146 sec
The project has evolved its affordable housing plans in response to community feedback. The current proposal aims to provide a significant number of affordable units through a combination of Mandatory Inclusionary Housing (MIH) and the Mixed Income Market Initiative (MIMI) program.
- Initially proposed MIH Option 2, now pursuing MIH Option 1 for deeper affordability
- Applied for the MIMI program with HPD, which would provide 70% affordable units if approved
- Under MIMI, 25% of affordable units would be for extremely low or very low income households
- Proposed unit mix: 39 units at 40% AMI, 26 units at 47% AMI, and 17 units at 110% AMI
- Total of 153 units: 63 studios, 51 one-bedrooms, 62 two-bedrooms, 9 three-bedrooms, and 1 super's unit
Eli Gewirtz
0:38:12
This slide represents our original proposal with regarding the residential.
0:38:16
We originally proposed MIH to pursue MIH option two for the site, which would have yielded a 83 market rate and 78 affordable units.
0:38:25
However, next slide, please.
0:38:30
So after speaking closely with council member Hudson and hearing what for the community board had to say as well as meeting with HPD, we are now pursuing MIH option one which of course, requires deeper affordability than MIH option two.
0:38:46
In addition to that, we've also applied for the mixed income market initiative program with HPD, colloquially known as the Mimi program, which would provide an additional 45% more affordable units at the building for a total of 70% of the dwelling units to be affordable units if approved under the Mimi program.
0:39:08
Next slide, please.
0:39:09
So just some more, just a little bit more facts about the Mimi program.
0:39:14
So we applied for the program last year.
0:39:16
It's currently being reviewed by HPD.
0:39:19
As mentioned, the program requires that 70% of the total dwelling units are affordable to households earning up to a 20% of AMI.
0:39:27
At least 25% of those units must be affordable to those earning extremely low or very low income households which are defined as HPD as extremely low as those making zero to 30% of AMI and very low income households are those earning 31 to 50% of AMI.
0:39:47
So if approved under the Mimi program, we will be providing a a flip that from the MIH option two, which is a 83 affordable units and 70 market rate units.
0:39:57
Our initial intake form that we submitted to HPD is showing the breakdown of the affordable units under the Mimi program.
0:40:04
So that's 39 units at what's referred to as hour space units reserved for incomes earning no more than 40% of AMI, 26 units at 47% of AMI, and a 17 units at a 10 AMI.
0:40:19
And those unit dwelling unit sizes would be consist of 63 studios, 51 bedrooms, 62 bedrooms, nine three bedroom units, and one supers unit.
0:40:29
Our initial feedback from HPD is that they think this is a good site that would qualify for the Mimi program.
0:40:36
Next slide, please.