30% above the maximum base rent, or
The Fair Market Rent for existing housing as established by the United States Department of Housing and Urban Development (HUD) for the New York City Primary Metropolitan Statistical Area pursuant to Section 8(c) (1) of the United States Housing Act of 1937 (42 U.S.C. section 1437f [c] [1]) and 24 C.F.R. Part 888, with such Fair Market Rents to be adjusted based upon whether the tenant pays his or her own gas and/or electric charges as part of his or her rent as such gas and/or electric charges are accounted for by the New York City Housing Authority.
Such HUD-determined Fair Market Rents will be published in the Federal Register, to take effect on
October 1, 2011.
DECONTROLLED UNITS
The permissible increase for decontrolled units as referenced in Order 3a which become decontrolled after
September 30, 2011, shall be the greater of:
30% above the maximum base rent, or
The Fair Market Rent for existing housing as established by the United States Department of Housing and Urban Development (HUD) for the New York City Primary Metropolitan Statistical Area pursuant to Section 8(c) (1) of the United States Housing Act of 1937 (42 U.S.C. section 1437f [c] [1]) and 24 C.F.R. Part 888, with such Fair Market Rents to be adjusted based upon whether the tenant pays his or her own gas and/or electric charges as part of his or her rent as such gas and/or electric charges are accounted for by the New York City Housing Authority.
Such HUD-determined Fair Market Rents will be published in the Federal Register, to take effect on
October 1, 2011.
CREDITS
Rentals charged and paid in excess of the levels of rent increase established by this Order shall be fully credited against the next month’s rent.
STATEMENT OF BASIS AND PURPOSE