21 CRR-NY 2162.1NY-CRR
21 CRR-NY 2162.1
21 CRR-NY 2162.1
2162.1 Grant limits.
Grants will be limited to the lesser of:
(a) 60 percent of the project cost; or
(b) the following per dwelling unit limitations:
(1) $35,000 for projects except as provided hereinafter; or
(2) $40,000 for a high cost project or a project which will receive a loan from the Federal Farmers Home Administration.
No more than 50 percent of the appropriated funds shall be allocated to homes within a single municipality in any fiscal year. A project may be deemed to be a high cost project if the project is located within a high cost area, or it is demonstrated to the satisfaction of the corporation that the additional $5,000 per dwelling unit subsidy available to high cost projects would make housing in such project affordable to households with incomes at or below 80 percent of the applicable area median income.
21 CRR-NY 2162.1
Current through May 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.