Building Rent Stabilized Through Funding from DHCR Housing Trust Fund Corporation

The DRA found that landlord's 69-unit Yonkers building was subject to rent stabilization under the ETPA. Landlord appealed, claiming that construction of the building was completed in 2007, that the building received a Low Income Housing Tax Credit (LIHTC) under a Regulatory Agreement between landlord and the DHCR's LIHTC program, and that there was no regulatory requirement for rent stabilization. The DHCR dismissed the PAR. The DRA's decision wasn't based on the building's involvement with the LIHTC program or any provision of the Regulatory Agreement. The DRA correctly found that the building had received funding from the DHCR's Housing Trust Fund Corporation (HTFC) and therefore was subject to the ETPA as a matter of law under the Private Housing Finance Law. 

185 Riverdale Avenue, LLC: DHCR Adm. Rev. Docket No. FM910008RO (8/18/17) [2-pg. doc.]