DONATE

Mandatory Inclusionary Housing Deep Affordability Option Analysis

Unfortunately the City’s MIH proposal primarily targets the 60% Area Median Income (AMI) and above level that are already served by our current housing programs, leaving out more than 40% of New Yorkers that earn below these levels.

By: Barika Williams

01/01/2016

Download

The de Blasio Administration’s Mandatory Inclusionary Housing (MIH) proposal is now officially in the hands of City Council, which has until approximately the end of March to vote on the proposal.

The Council has the power to reshape the Mayor’s MIH proposal. Local residents, housing groups, and community boards will be looking to the Council to revise MIH and make it a tool that can actually help meet the needs of all New Yorkers – particularly the lowest-income members of our communities, who are most in need of affordable housing.

One of the greatest concerns expressed in the MIH land use process throughout is the level of affordability of potential MIH affordable units. Communities are continually raising the question of whether units termed “affordable” will truly be affordable to local families or New York City residents more generally.

Though the City’s MIH Market and Financial Feasibility Study analyzed over 1,000 scenarios across a variety of developments and market types, only three different AMI levels were studied, none of which addressed incomes for which the need for housing is the greatest those of very- and extremely-low incomes (<30% - 50% AMI). The City’s MIH policy proposal fails to include any options targeting deep affordability. More than 25% of New York City households make less than $25,000 annually, or less than 30%AMI.

Any MIH program in our City must include at least one option designed to serve this sizeable part of the City’s population. In order to serve this central and significant post of our City’s population any final MIH policy must add a Deep Affordability option.