Proposed rules would require 60% of pilot project units affordable at or below 140% AMI
HCDA staff told members that Act 121 requires 60% of units in the 99‑year leasehold pilot be priced so households at 140% of area median income or below can afford them; staff described a buyback pricing formula and a 10‑year resale restriction with HCDA first refusal on affordable resales.
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HCDA program specialist Deepak Nupane told board members the statute amendment includes an affordability requirement: 60% of the pilot project's units must be affordable to households at or below 140% of area median income (AMI). "This amendment to this statute says that 60% of the units in the project will have to be affordable to households making a 140% or below of area median income," Nupane said.
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