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Re: Mitchell-Lama Co-op Income Guideline rules

Posted by Rebecca on October 18, 2000 at 14:46:59:

In Reply to: Re: Mitchell-Lama Co-op Income Guideline rules posted by Mark Smith on October 18, 2000 at 13:16:39:

: DHCR and HPD are often years behind in their verification of tenants' and cooperators' income in Mitchell-Lama developments.

Thanks for your Input!

I definitely filed that year - though it is the same year I had a dispute with the state regarding my income. They added my net income to my gross income as was straightened out earlier this year. I was asking because I thought they were supposed to verify it every year and if one was filed since the 1998 affadavit - I Thought that one would take precedence - it seemed logical anyway...On an interesting note, they've given me 60 days to get back to them but the NYS Dept of Taxation says delivery takes at least 60 days. I'm sending the housing corp. a certified letter making them aware of it...

: Did you ask the managing to change the shares and the lease to your name, after your grandmother passed away? Did you ask the managing agent to change the shares and the lease to the name of you and your husband, after you married and your husband moved into the apartment?

Honestly, I didn't ask about it in 1995 - though I started paying the rent and completing the income statements every year. Also, twice I fell behind in the rent and arranged payment plans in my own name. Additionaly, in 1996 I worked at the neighborhood credit union that shares the building with the co-op office, so my presence in my grandmother's apartment was common knowledge. When I notified the office of my name change and my husband moving in (1999), I did it in writing. I got a letter back asking me to call the office regarding some paperwork. I called and had a brief conversation with someone (don't remember the name.) She said she thought I had to reapply & re-invest in the apartment, but that the board would have to discuss it. So, in the year and a half since then, we haven't heard anything from them. I have an uncle who serves(maybe served, not sure) on the board and he said about 6 months ago or so, the board decided not to pursue it. We weren't overly worried about it because we're planning to move out early next year and we don't care if any of the original equity investment is given back. Our biggest concern is just being able to get out of there without any additional charges.

: The rent/maintenance is fixed for a Mitchell-Lama apartment, in much the same way as for a rent controlled or rent stabilized apartment, but is subject to a surcharge of up to 50%, if the residents' income is above the maximum for the apartment (which, in your case, would be seven times the annual rent, plus utilities, an allowance for painting, and 6% of your equity).

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