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
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Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2102.3 ↗

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1,391 chars 
(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.