A notice of rent increase was posted last week in the building. Please note that the notice is required by HUD and represents the additional rental subsidy HUD will pay to the property to complete the work specified in the application. Residents will continue to pay only 30% of their income as rent.
Please also note that this rent increase will not go into effect until the completion of the renovation work and final closing with HUD (sometime towards the middle or end of 2015).
If you have any questions on this notice or HUD procedure, please call Tony Savarese directly at 914-772-2728.