Is Mitchell-Lama affordable housing?
The Mitchell-Lama program provides affordable rental and cooperative housing to moderate- and middle-income families. There are both New York City supervised Mitchell-Lama developments and New York State supervised Mitchell-Lama developments.
Is Mitchell-Lama public housing?
The Mitchell–Lama Housing Program is a non-subsidy governmental housing guarantee in the state of New York. Developers received tax abatements as long as they remained in the program, and low-interest mortgages, subsidized by the federal, state, or New York City government.
How long does Mitchell-Lama take?
Once you’re on the Mitchell-Lama waiting list. Once on a waiting list, be prepared to wait a long time. Typically, it takes anywhere from a couple of years, up to 15 years before an apartment becomes available.
Who owns Mitchell-Lama?
Some early Mitchell-Lama buildings carried 50-year affordability requirements. There are both New York City run and New York State run Mitchell-Lama developments. While both programs offer affordable housing for New Yorkers, the co-op and rental programs follow different rules and regulations.
Can you sublet a Mitchell-Lama apartment?
As with rent-stabilized and rent-controlled apartments in New York City, a primary residence is required in Mitchell-Lama buildings. Unauthorized subletting is not allowed.
Who runs Mitchell-Lama?
What happens when Mitchell-Lama Goes Private?
“When a Mitchell-Lama ‘goes private,’” explains Andrew Brucker, attorney at the New York office of law firm Armstrong Teasdale, “it reconstitutes as a free-market co-op. Since the shareholders own the shares already, there should be absolutely no reason for any shareholder to have to purchase their stock over again.
Is Co-Op City Mitchell-Lama?
Co-op City is a New York State Mitchell-Lama housing cooperative in the northeast Bronx with 15,372 residential units in 35 high-rise buildings and seven (7) townhouse clusters consisting of garden and duplex apartments. Life in Co-op City revolves around cooperative living.
How is Mitchell-Lama funded?
The funding for this program is provided by HFA and was generated by bond financing. The program was initiated to provide funding for capital improvements to the Mitchell-Lama housing portfolio. Since 2007, 14 rental housing companies (3,666 units) have refinanced and committed to remain in the Mitchell-Lama program.
How to contact the Mitchell Lama Housing Program?
For questions regarding the City-sponsored Mitchell-Lama Program: 212-863-6500, or email [email protected]. For information on the NYS-supervised Mitchell-Lama housing program, please visit New York State Homes and Community Renewal or call 866-463-7753.
When was the Mitchell-Lama program created in New York?
The Mitchell-Lama Program provides housing across New York State that is affordable to the middle class. It was created by the Limited Profit Housing Act in 1955, which was championed by Manhattan State Senator MacNeil Mitchell and former Brooklyn Assemblyman Alfred Lama.
How much does it cost to apply for Mitchell Lama?
As of August 2019, the application fee for new waitlist applicants is $75 and is non-refundable. Through Mitchell-Lama Connect, you can view the waiting list number and date the last application was approved for each Mitchell-Lama development.
How long do you have to update address for Mitchell Lama?
Mitchell-Lama applicants are required to inform the housing development of any change in address or family composition within 30 days of such occurrence. Admissions applicants can now submit address and telephone number updates using the Update Contact Information form.