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9 NYCRR § 2202.4 — Increased services or facilities, substantial rehabilitation, major capital or other improvements (NYC Rent & Eviction Regs., via Cornell LII)

Citation
9 NYCRR § 2202.4 — Increased services or facilities, substantial rehabilitation, major capital or other improvements (NYC Rent & Eviction Regs., via Cornell LII)
Jurisdiction
New York (state)
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(10) Any temporary major capital improvement
increase granted pursuant to paragraph (1) of this subdivision shall be reduced
by an amount equal to (i) any governmental grant received by the landlord,
where such grant compensates the landlord for any improvements required by a
city, state or federal government, an agency or any granting governmental
entity to be expended for improvements and (ii) any insurance payment received
by the landlord where such insurance payment compensates the landlord for any
part of the costs of the improvements. Low interest loans or repayable
subsidies shall not be considered grants for the purposes of this
paragraph.

(11) Rent adjustments
pursuant to paragraph (1) of this subdivision shall be allocated as follows:
The DHCR shall determine the dollar amount of the monthly rent adjustment. Such
dollar amount shall be divided by the total number of rooms in the building.
The amount so derived shall then be added to the rent chargeable to each
housing accommodation in accordance with the number of rooms contained in such
housing accommodation.

(12) When
determining the adjustment of maximum rents pursuant to paragraph (1) of this
subdivision, where the subject building contains commercial rental space in
addition to residential rental space, and the DHCR determines that such
commercial space benefits from the improvement, DHCR shall allocate the
approved costs between the commercial rental space and the residential rental
space based upon the relative square feet of each rental area.