Multifamily Affordable Housing Credit
In New York City we know that every drop of water counts, but we also know that every dollar counts. That’s why DEP was honored to partner with Mayor de Blasio and announce that more than 53,000 low-income homeowners are receiving an automatic $115 credit on their water and sewer bill. In addition, the New York City Water Board has authorized the extension of the credit to approximately 12,000 additional senior citizens in FY18. The Water Board has also approved a new $250 per residential unit credit, to begin next year, for multi-family buildings that meet certain affordability, conservation and performance criteria. The new Multifamily Affordable Housing Credit will provide a total of $10 million of assistance to properties, serving as many as 40,000 units, while helping to incentivize affordability.
In 2015, the Home Water Assistance Program provided the first annual credit to 12,500 low-income homeowners who qualify for the federal Home Energy Assistance Program (HEAP). In 2016, the program was expanded to also include low-income senior and disabled homeowners who receive a Department of Finance (DOF) property tax exemption. Beginning in FY18, the program will reach senior citizens with a combined annual income of less than $50,000. DEP partners with Human Resources Administration (HRA) to identify qualified residents that receive a HEAP benefit, with DOF to identify customers with property tax exemptions, as well as Housing Preservation and Development (HPD) and Housing Development Corporation (HDC) to identify eligible multi-family buildings that conserve water and enter into an agreement to keep rents affordable.
The $115 credit will appear on the next water and sewer bill for the following customers:
• Bronx: 4,717
• Brooklyn: 16,659
• Manhattan: 101
• Queens: 23,149
• Staten Island: 8,451
Over the last few years, tens of thousands of low-income residents have benefitted from the Home Water Assistance Program and we are thrilled to now expand it to even more of our senior customers, while still keeping water and sewer rates affordable for all New Yorkers.
