Posted by Mark Smith on September 26, 2000 at 13:51:07:
In Reply to: Moderate income housing question posted by Mike O on September 26, 2000 at 13:27:37:
Mitchell-Lama housing, one of the most common types of moderate-income housing in New York, generally uses the adjusted gross income from the tax return. The only adjustments allowed are medical expenses, $1,000 for each taxpayer and each dependent, a $15,000 exclusion for the secondary wage earner, and total exclusion of children under 21 who are in school.
The Municipal Reference Library on Chambers Street in Manhattan has the looseleaf books with the DHCR and HPD Mitchell-Lama regulations, and also the Private Housing Finance Law, which governs Mitchell-Lama housing.
Maybe you can arrange something with your employer to pay your expenses and then deduct your expenses from your pay, so that your income will be lower and meet the requirements.
: I recently applied for moderate income housing and was told my income is too high. However when business expenses are deducted my income falls below their limit. Can business expenses be considered, or is the amount given to them by my employer the amount they have to consider. I'm waiting for an answer from them and I'd like to know what's legally valid before I speak with them next. Thank you.
Note: Posting is disabled in all archives
Post a Followup