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§ 26-1501 — Definitions

New York City Administrative Code (current through L.L. 2026/147, enacted September 12, 2026, and amendments effective through October 10, 2026) · NYC Admin. Code § 26-1501

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§ 26-1501 Definitions.

For the purposes of this chapter: Affordability requirement. The term "affordability requirement" means any requirement that one or more dwelling units within a building receiving benefits under section 421-a of the real property tax law be occupied by or available for occupancy by individuals or families whose incomes at the time of initial occupancy do not exceed the applicable percentage under such law of the area median income for the primary metropolitan statistical area as determined by the United States department of housing and urban development or its successors from time to time for a family of four, as adjusted for family size. Department. The term "department" means the department of housing preservation and development. (L.L. 2017/193, 10/16/2017, eff. 10/16/2018)