![]() ![]() HPD has the final say in all applicants if they are overseeing the ML building, which they are for St. James Tower management team accepted my application (they also thought you could average income for 3 years and I could be let in with a surcharge) and moved me along to HPD, but HPD rejected me for being over income - my contact said 2 people reviewed my application, and they agreed I was over income. I submitted a letter from my accountant explaining why my 2018 income was artificially high, and what my 2019 projected income would be, but none of the additional documentation I provided mattered.Ģ) Correct. I provided 3 years of tax returns with my application, but HPD only used 2018's to determine my income. The contact at HPD told me that for anyone up for a Mitchell Lama Coop, they only look at the tax returns for the year before (in my case 2018), and want a paystub or an affidavit stating what your income for the current year to see what your current earnings are. Hi macnyc2003, you're welcome, I'm glad it helped! To clarify what happened in my situation:ġ) Correct. Was your income that high that you went over even the amount allowed with a surcharge? Or are new people not eligible for a surcharge at all? That as a new cooperator you were rejected and not given the chance to pay a surcharge for being over income. That freelance income can’t be averaged over three years.Ģ. So, to make sure I’m understanding this correctly, you’re saying:ġ. Just wanted to share what's happened to me so far - I hope this helps!ĭoubleTake, thanks for sharing your experience! The lawyer said I had lousy timing to have a bump in income (a client paid me late arrgh!), but he was also encouraging about doing the appeal. He told me that I can appeal the decision to stay on the waiting list (he also gave me suggestions on what to put in the letter), and that's what I'm in the process of doing.įor a little more background on this - I talked to a lawyer familiar with Mitchell Lama buildings and he said that HPD has been under a lot of scrutiny this past year, so they are doing things by the book a lot. James team was kind of new and I was the first freelancer/1099 income person they'd come across, so it was really just honest mistakes on all sides. The guy I talked to at HPD was really helpful - he said that the St. Things looked good until a week later when my application got rejected by HPD for being over the limit. The building management team and I thought that I could average my income over the past 3 years to determine my income limit, and in the review process they also thought they could let me in with a surcharge, but it didn't work out that way.ĭuring the application review process the building management team had me come in and sign an overage form for my first year in the apartment, which meant I'd pay a surcharge based on my 2018 income. I'm a freelancer and am paid via 1099, so my income varies each year. James Towers in November of 2019, and I started the process as a new potential tenant late last year. My number came up for a Mitchell Lama Coop in St. Hey everyone, I wanted to write about my recent experience about getting rejected for being over income. ![]()
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