Developing Affordable Housing:

A Three Part Series

Hosted by
Bronx Institute for Urban Systems:
GIS Education and Sustainable Solutions

www.bxius.org info@bxius.org
Developing Affordable
Housing: A Three Part Series

Free learning material to build

residents understanding of how
affordable housing is developed.

Over the course of three

workshops we will educate on the
influences and limitations of
subsidized rents.
Developing Affordable
Housing: A Three Part Series
Part One: Bronx Housing Affordability Outlook -
Introduction to Terms, Concepts, and Policy History

Part Two: Understanding Affordable Development

Financing - Loan Underwriting and Term Sheets

Part Three: Zoning and Alternative Models of Housing

Affordability - Rezoning Process and Housing Alternatives
Session 1:
New York City’s
Affordability Outlook
Introduction to Terms, Concepts and Policy History
BIUS Introduction
The mission of the Bronx Institute for Urban Systems is to use GIS
Education and Systems Planning Principles to improve Bronx
neighborhoods.

The goal of the Bronx Institute for Urban Systems is to do innovative

research in thermodynamic architecture, landscape design, and
gathering spatial information using Systems Theory. Educate and
advocate for under privilege communities through spatial education
and Geographic Information System services.

 Overview
1. Identifying Acronyms and Government Agencies

2. The Players in Affordable Housing Development

3. Timeline of Major Housing Policies

4. Understanding Key Concepts; MIH & ZQA, Preservation or

New Construction?

5. Understanding Area Median Income (AMI)

 Definitions
AMI Area Median Income CBO Community Based
Organization
LIHTC Low Income Housing Tax SRO Single Resident Occupancy
Credit
421a Partial Tax Exemption AFFH Affirmatively Furthering Fair
Program For 20% Affordability Housing
J51 Tax Exemption and FAR Floor Area Ratio
Abatement for Renovation
RAP Rental Assistance Program RFP Request For Proposal

ELLA Extremely Low and Low RFQ Request For Qualifications

Income Affordability
MIH/MIZ Mandatory Inclusionary NIMBY Not In My Back Yard
Housing/Zoning
ZQA Zoning for Quality Assurance IBZ Industrial Business Zone

HCV Housing Choice Voucher NOI Net Operating Income

Person Based Section 8
FMR Fair Market Rents ROI Return On Investment

CDBG Community Development LTV Loan To Value

Block Grants
CDC Community Development EMI Equated Monthly
Coporation Installments
 Government Agencies &
Partners
HUD Housing and Urban HCR Housing and Community
(federal) Development (state) Renewal
FHA Federal Housing HPD Housing Preservation and
(federal) Administration (municipal) Development
OMB Office of Management and HDC Housing Development
(federal) Budget (municipal) Corporation
FEMA Federal Emergency DHS Department of Homeless
(federal) Management Agency (municipal) Services
OEM Office of Emergency SBS Small Business Services
(federal) Management (municipal)
FNMA Federal National Mortgage EDC Economic Development
(Fannie Mae) Association (municipal) Corporation
FHLMC Federal Home Loan DCP Department of City Planning
(Freddie Mac) Mortgage Corporation (municipal)
FDIC Federal Deposit Insurance NAREB National Association of Real
(federal) Corporation (private) Estate Brokers
HFA Housing Finance Agency LISC Local Initiatives Support
(federal) (nonprofit) Corporation
NLIHC National Low Income UHAB Urban Homesteading
(nonprofit) Housing Coalition (nonprofit) Assistance Board
 Foundations & Charitable
Organizations
• MacArthur Foundation

• VA Veterans Association

• Ford Foundation

• United Housing Foundation

• The Housing Partnership

• Coalition For The Homeless

• The Robin Hood Foundation

• Catholic Charities

• Habitat For Humanity

• IRS Internal Revenue Services
 Elected and Appointed
Officials Matching
• Donald Trump

• Ben Carson

• Bill De Blasio

• Andrew Cuomo

• Bernie Sanders

• Ritchie Torres

• Letitia James
 Housing Law Timeline
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 Key Concepts
• Zoning for affordability is a tactic used by municipal
governments across the country to create mixed
income communities by implementing either
mandatory or voluntary programs where developers
receive benefits for building housing in line with
citywide goals for social and economic integration.

• Preserving affordable housing is often times seen as

more important that building new affordable units,
ensuring that those living in subsidized housing can
retain below market rents even if their buildings
change ownership.
 Key Concepts

MIH Construction

ZQA Preservation
Mayor De Blasio
Housing New York Plan
Mayor Bill de Blasio last year released Housing New
York 2.0, with a goal to build and preserve affordable
homes for 300,000 New York families - up from his
previous goal of 200,000 homes by 2026.

The Housing New York plan has financed 87,557

affordable homes since its inception in 2014. In 2017
alone, the administration financed 24,536 affordable
homes - breaking an all-time record.

This plan is available online at:

www1.nyc.gov/site/housing/index.page
Area Median Income

The Department of Housing and Urban Development (HUD) sets

income limits that determine eligibility for assisted housing programs
including the Public Housing, Section 8 project-based, Section 8
Housing Choice Voucher, Section 202 housing for the elderly, and
Section 811 housing for persons with disabilities programs.

HUD develops income limits based on Median Family Income

estimates and Fair Market Rent area definitions for each metropolitan
area, parts of some metropolitan areas, and each non-metropolitan
county.
Area Median Income

• AMI in New York City is how buildings determine who qualifies for
subsidized units in NYC.

• The AMI in NYC is calculated using Median Income for families not
only in the five boroughs but also Westchester, Rockland, and
Putnam counties which are substantially higher than incomes for
average families in poorer areas in The Bronx and Brooklyn.

• Area median income is not truly indicative of neighborhood median

income.
Area Median Income
Area Median Income
 Conclusion
• The Bronx Institute for Urban Systems will continue to
host presentations regarding complex policy issues
including housing, in order to breakdown information
and educate local residents so that they can go back
to their communities and share their knowledge.

• There are two more parts in the series that will touch
on more technical processes that impact affordability
such as loan term sheets and other factors influencing
rents.

• Please complete a presenter review sheet so that we

can attempt to make our program stronger in the
future.
 Questions
&
Suggestions