HomeMy WebLinkAbout2021 Monthly allowable rent pricing RESOLUTION 2021-649
ADOPTED DOC ID: 17305
THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION NO. 2021-649 WAS
ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON
AUGUST 10,2021:
RESOLVED that the Town Board of the Town of Southold hereby sets the maximum initial
sales price and maximum allowable monthly rent for 2021 for affordable housing units as
follows:
Home Purchase Price May Not Exceed
Households earning 80% or less of the HUD $259,800*
median income for Nassau/Suffolk
Households earning 100% or less of the HUD $324,750**
median income for Nassau/Suffolk
Households earning 120% or less of the HUD $389,700***
median income for Nassau/Suffolk
* 2.5 times the 80%median income family of four -Nassau/Suffolk County ($103,920)
**2.5 times the 100%median income family of four-Nassau/Suffolk County ($129,900)
***2.5 times the 120% median income family of four-Nassau/Suffolk County ($155,880)
Monthly Rental Amounts May Not Exceed (utilities may or may not be included)
Efficiency $ 1343***
One Bedroom $ 1659***
Two Bedroom $ 2045***
Three Bedroom $ 2606***
Four Bedroom $ 2896***
*** represents HUD fair market rental
RESOLVED that pursuant to Chapter 240-10-B(2)(c)[2][a] of the Town Code, the Town Board
of the Town of Southold hereby sets $259,800 as the amount of payment required per
housing unit for Moderate Income Family Dwelling Units not built within the Town of
Southold's inclusionary zoning requirements. Said amount reflects two times the
Nassau/Suffolk median income for a family of four in accordance with the Long Island
Workforce Workforce HousingAct.
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Elizabeth A. Neville
Southold Town Clerk
Resolution 2021-649 Board Meeting of August 10, 2021
RESULT: ADOPTED [UNANIMOUS]
MOVER: James Dinizio Jr, Councilman
SECONDER:Sarah E.Nappa, Councilwoman
AYES: Nappa, Dinizio Jr, Doherty, Ghosio, Russell
ABSENT: Louisa P. Evans
Updated: 8/10/20217:18 AM by Lynda Rudder Page 2
RECEIVED
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Southold Town Clerk
Office of the Town Attorney
Town of Southold
Town Hall Annex, 54375 Route 25
P.O. Box 1179
Southold, New York 11971-0959
Telephone: 631-765-1939
Facsimile: 631-765-6639
MEMORANDUM
To: Betty Neville
From: Missy Mirabelli
Date: August 11, 2021
Subject: 2021 Affordable Housing — monthly allowable rent pricing
Please be advised that Damon has reviewed and approved in connection
with the referenced matter. A copy of the resolution is enclosed.
Thank you.
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Enclosures
Cc: Denis Noncarrow