[HISTORY: Adopted by the Common Council of the City of Peekskill 1-24-2022 by L.L. No. 1-2022. Amendments noted where applicable.]
As used in this chapter, the following terms shall have the
meanings indicated:
A fund held and maintained by the City of Peekskill that
shall be used for property improvement assistance for existing residential
and mixed residential/commercial properties in Peekskill, for program
administrative costs, and for other actions taken for the furtherance
of improving and increasing affordable housing for low- and moderate-income
households City-wide.
A rental dwelling unit that is priced to be affordable to
qualified household whose income is not less than 40% of AMI and not
greater than 60% of AMI and for which the annual housing cost of the
unit, defined as rent plus any tenant-paid utilities or fees, for
the approved household does not exceed 30% of the qualified household's
income.
Median income for the County of Westchester as published
annually by the U.S. Department of Housing and Urban Development and
adjusted by household size.
As defined in the NYS Building Code, when the work (renovation)
area exceeds 50% of the building area.
A rental dwelling unit that is priced to be affordable to a
qualified household whose income is not less than 61% of AMI and not
greater than 80% of AMI and for which the annual housing cost of the
unit, defined as rent plus any tenant-paid utilities or fees, does
not exceed 30% of the household's income.
A for-sale dwelling unit that is priced to be affordable to
a qualified household whose income is not less than 61% of AMI and
not greater than 80% of the AMI and for which the annual housing cost
of a unit, including common charges, principal, interest, real estate
taxes, insurance and amenities charges if any, does not exceed 33%
of the qualified household's income.
A.
Within all residential or mixed-use developments of 10 or more dwelling
units created by subdivision or site development plan approval, including
new construction, conversion of nonresidential structures to residential
use, or substantial renovation of vacant structures, no less than
5% of the total number of dwelling units in rental housing must be
created as affordable housing units and no less than 5% of the total
number of dwelling units must be created as workforce housing units,
and no less than 10% of the total number of dwelling units in for-sale
housing must be created as workforce housing units, rounded to the
nearest whole number. When the computed number of units contains .5,
then the number of required units will be rounded up to the next whole
number. When the computation for a rental development results in an
odd number of required units, the odd unit will be an affordable unit.
B.
The Council will adopt criteria setting forth the parameters that
the Council will use to consider a request for a payment of a fee-in-lieu
of providing affordable and workforce housing units. Once these criteria
are adopted, a developer may request to make a payment of a fee-in-lieu
of providing on-site affordable and workforce housing units. Such
authorization for a fee-in-lieu will be subject to the discretion
of the Common Council. The per-unit fee, regardless of unit size,
shall be 1.5 times the AMI for a household of four for the year in
which the project is approved.
The maximum monthly rent and the maximum sales price for an
affordable housing unit and a workforce housing unit shall be established
in accordance with the City of Peekskill Policies and Procedures for
Affordable and Workforce Housing.[1]
[1]
Editor's Note: See 155 Attachment 1.
The affordable housing units and workforce housing units created
under the provisions of this chapter shall be sold or rented and resold
and rerented, during the required period of affordability, to only
qualifying income-eligible households. The City shall give preference
to income-eligible residents who have resided within the City of Peekskill
for the immediately preceding five years. Qualified households with
incomes no less than 40% of AMI and no greater than 60% of AMI shall
be eligible for the affordable housing rental units and households
with incomes no less than 61% of AMI and no greater than 80% of AMI
shall be eligible for the workforce housing rental units. Qualified
households with incomes no less than 61% of AMI and no greater than
80% of AMI will be eligible for workforce for sale units. Such income-eligible
households will be solicited in accordance with the City Policies
and Procedures for Affordable and Workforce Housing.[1] The City may designate a qualified not-for-profit organization
to market the affordable and workforce housing units and to screen
and select the applicants for the affordable and workforce housing
units in accordance with the City's Policies and Procedures.
[1]
Editor's Note: See 155 Attachment 1.
Units designated as affordable and workforce housing units must remain affordable for a minimum of 50 years from the date of the original lease-up for rental properties and from the date of original sale for for-purchase units unless sold in accordance with § 155-9.
A property containing any affordable or workforce housing units
must be restricted by using a declaration of restrictive covenant,
in recordable form acceptable to the Corporation Counsel, that shall
ensure that the affordable and workforce housing units shall remain
subject to affordability requirements for the minimum fifty-year period
of affordability. Among other provisions, the covenant shall require
that the unit be the primary residence of the resident household selected
to occupy the unit. Upon approval, such declaration shall be recorded
against the property containing the affordable and workforce housing
units prior to the issuance of a certificate of occupancy for any
dwelling unit on the property.
A.
Within single-family developments, all units shall be comparable
in appearance, siting and exterior design to the other single-family
homes in the development and shall be distributed in the same proportion
and location as all other units in the development, according to bedroom
count.
B.
Within multifamily developments, the affordable and workforce units
shall be physically integrated into the design of the development
and shall be distributed in the same proportion and location as all
other units in the development, according to bedroom count.
C.
The exterior appearance of the affordable and workforce housing units
shall not distinguish them as a class from the unrestricted units.
D.
Affordable and workforce units will not have separate entrances from
the market rate units in multifamily buildings.
The City may designate a qualified not-for-profit organization
to handle the marketing, income and other eligibility requirements
and monitoring applicable to the affordable and workforce housing
units. The costs of such administration and monitoring shall be borne
by the developer/owner in accordance with a fee schedule approved
by the City.
A.
Occupants of affordable or workforce housing units shall be income-certified
every two years.
B.
A person renting an affordable or workforce housing unit shall enter
into a lease for a term of not greater than two years. As long as
the renter remains eligible and has complied with the terms of the
lease, the renter shall be offered renewal leases for a term no greater
than two years.
C.
If a renter's annual gross income should subsequently exceed
the maximum then allowable, as defined in this chapter, then the renter
shall pay 30% of household income with the amount above the applicable
affordable or workforce rent to be deposited into an affordable housing
fund managed by the City.
A.
In the case of for-sale workforce housing units, the title to said
property shall be restricted so that, in the event of any resale by
the homebuyer or any successor, the resale price shall not exceed
the then-maximum sales price for said unit for a ten-year period commencing
at the date of the original sale, as determined as follows:
(1)
The purchase price paid for the unit by the selling owner, increased
by the percentage increase, if any, in the Consumer Price Index for
Urban Wage Earners and Clerical Workers in the New York-Northern New
Jersey Area as published by the United States Bureau of Labor Statistics
(the "index") on any date between (a) the month that is two months
earlier than the month in which the selling owner acquired the unit
and (b) the month that is two months earlier than the month in which
the seller contracts to sell the unit. If the Bureau stops publishing
this index and fails to designate a substitute index, the City will
designate a substitute index; and
(2)
The cost of major capital improvements made by the seller of the unit while said seller owned the unit, as evidenced by paid receipts depreciated on a straight-line basis over a fifteen-year period from the date of completion; provided, however, that approval of the administrative and monitoring agency identified in § 155-7 shall be required before the cost of any major capital improvement is included in the resale price.
B.
In the case of for-sale workforce housing units sold after 10 years
from the original sale, the selling owner may sell the property at
market value on the condition that 50% of the appreciated value be
shared with the City and deposited into the affordable housing fund.
This chapter shall apply to applications for subdivisions, building
permits, and site plan approvals submitted subsequent to the effective
date of this chapter.
