HUD has released the income guidelines for 2021. These guidelines affect who is eligible to apply for housing in developments that have received HUD money. The income limits depend on family size. The Area Median Income (AMI) for our area is $129,900. A commonly-used standard is 80% of AMI. As you can see on the chart, 80% of AMI for a family of four is $94,900, while 80% of AMI for a single person is $66,450.
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All are invited to join us this Monday, September 20th @7PM for HTHC and Housing Help Inc.’s Meet the Candidates Night. It will be streamed *LIVE* from the HTHC Facebook page at https://www.facebook.com/HuntingtonTHC
The Long Island Regional Planning Council released a report showing that multifamily housing developments recently built on Long Island produce fewer students than expected, and produce more tax revenue than it costs to educate the students who live there.
One of the developments studied was Avalon at Huntington, which added 56 students to the local schools, which, if spread evenly over elementary, middle, and high school, is about 18 students per school. At a cost to educate the students of $8160/ student, this would add a $456,942 cost burden to the school district- but the real estate tax revenue and direct payments generated by Avalon are $849,485, resulting in a net positive cash flow to the school district of over $390,000.
Long Island has a severe housing shortage, along with a shortage of land. Building with density is the only way we can meet our housing needs.
Long Islanders’ housing costs have risen by 24% since 2000 even as median household income has fallen by 1.6%, according to a new report that recommends building up the region’s downtowns and allowing more housing options.
Nearly 6 in 10 renters and more than one in three homeowners on Long Island shell out more than 30% of their income for rent and utilities or homeownership costs such as mortgage, property taxes and insurance, the Manhattan-based nonprofit planning and advocacy group Regional Plan Association said in a report released Wednesday. The report, at nwsdy.li/RPA, includes detailed profiles of Long Island’s 13 towns, two cities and 96 villages, as well as 85 of the region’s largest unincorporated areas.