9 NYCRR § 2102.3 — Grounds for increase of maximum rent (State Rent & Eviction Regs., via Cornell LII)

Citation
9 NYCRR § 2102.3 — Grounds for increase of maximum rent (State Rent & Eviction Regs., via Cornell LII)
Jurisdiction
New York (state)
Source verification
official_capture_completeness_unverified
Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2102.3 ↗

Related Parts of This Source

Full Text

1,701 chars 
(7)
DHCR may issue, upon an owner application, an advisory prior opinion pursuant
to section of this Title, as to whether
the proposed work qualifies for an increase in the maximum rent.2109.8

(8) No increase pursuant to paragraph (1) of
this subdivision shall be granted by the DHCR, unless an application is filed
no later than two years after the completion of the installation or improvement
unless the applicant can demonstrate that the application could not be made
within two years due to delay, beyond the applicant's control, in obtaining
required governmental approvals for which the applicant has applied within such
two-year period.

(9) An increase
for an improvement made pursuant to paragraph (1) of this subdivision shall not
be granted by the DHCR to the extent that, after a plan for the conversion of a
building to cooperative or condominium ownership is declared effective, such
improvement is paid for out of the cash reserve fund of the cooperative
corporation or condominium association. However, where prior to the issuance of
an order granting the increase, the funds taken from the reserve fund are
returned to it by the sponsor or holder of unsold shares or units or through a
special assessment of all shareholders or unit owners, the increase may be
based upon the actual, reasonable and verifiable cost of the improvement.
Nothing in this paragraph shall prevent an owner from applying for, and the
DHCR from granting, an increase for such improvement to the extent that the
cost thereof is otherwise paid for by an owner.

(10) Any temporary major capital improvement
increase granted pursuant to paragraph (1) of this subdivision shall be reduced
by an amount equal to