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Not from NYC but looking at a Property there. Wondering what the general view of the IHP Bonus FAR is? Is the 0.5 mile radius for off-site affordable strictly enforced, or easily/often by-passed? Are there common knowledge exemptions or work arounds to the requirements? Any insight will be appreciated!
That depends entirely on where your property is. The IHP is limited in geographic scope.
If you are in an IHP area, the link above should be able to break down what you can and cannot get away with. IHP is relatively new, since 2009 but there are many ways in NYC to grab bonus FAR.
As a follow up, if you're in an R10 (or a C6) district you qualify for IHP. Your "donating building" (#generating site# per the ZRs) must be in the same Community district as the "receiving building" (#compensated zoning lot# per the ZRs). If your donor building is outside your district, your limited to a half mile radius around around your receiving building that covers the adjacent community board district.
-As It Is Written in ZR 23-96.
As an aside, I'm not sure IHP is that popular among developers as the FAR bonuses may not offset the potential loss of revenue created by providing units below market rate.
Thanks Apurimac. It's in an R10. Cash-in-lieu would probably be the preferred option given that doing any affordable in either the district or the half mile radius would, most likely, be lucky just to even break even. "Rehabilitation" would seem to be the other palatable option.
Still wondering how rigorously the rules are applied, or what kinds of deals have been pushed/struck in regards to them?