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Q&A
Area Median Income (AMI) levels and affordable housing allocation in the proposed development
0:28:30
·
23 sec
Speaker Adrienne Adams and Richard Lobel discuss the Area Median Income (AMI) levels and affordable housing allocation for the proposed development.
- The current proposal follows Option 1 of the Mandatory Inclusionary Housing program
- 25% of the units will be set at 60% AMI
- An additional 10% of the building will be at 40% AMI, as required by the resolution
- This arrangement aims to provide a mix of affordable housing options within the development
Adrienne Adams
0:28:30
Okay.
0:28:31
And as far as your AMIs are concerned, your market rate, what does that look like?
Richard Lobel
0:28:38
Yes, so the current proposal is set at option one.
0:28:43
So it would be 25% at 60% AMI, with a full 10% of the building at 40% AMI, as is required by the resolution.