Buildings with 4 or more residential units that meet the following criteria may qualify.
Affordability
Households earning up to 60% of Area Median Income (AMI) must be able to afford:
- Average collectable rents for the project (for rental buildings)
- Maintenance fees for the project (for cooperatives)
They must use a Rent Roll. It should be effective on the date of application.
The project can have income limits higher than 60% of AMI.
Conservation
All buildings must demonstrate efficient water usage through either:
- Compliance with the Multifamily Conservation Program (MCP)
- Paying a metered water rate
If you do not meet these criteria, you can still apply. You must show you are taking the necessary steps to meet MCP conservation measures. This must be before the application deadline.
Buildings must comply with all applicable DEP and Water Board Regulations.
Performance
All buildings must be in good standing with the City.
You must demonstrate this with one of the following:
- Current payments
- Payment plans
- Proof of engagement with the City to address these issues