New Castle, N.Y., Code of Ordinances ch. 10 (eCode360 ed. 2026) § 10-4

A. Upon receipt of an application for the issuance of a certificate of occupancy for any apartment which is located in a development for which density incentives have been granted for low- or moderate-income housing apartments or at such earlier time as may be requested by the developer, but not prior to the issuance of a building permit, the Building Inspector shall send a copy of such application to the Town Housing Agency, which shall then inform the owner, within 30 days, of the maximum rental or sales charge which may be established for any low- or moderate-income apartment designated in the development and the maximum annual gross family income for eligibility for occupancy of said apartment. B. No certificate of occupancy may be issued by the Building Inspector on such a development until the Agency has notified the owner of such maximum rental or sales charges. C. The Agency shall certify as to the eligibility of all applicants for rental or sales of low- or moderate-income apartments and shall annually reexamine or cause to be reexamined each occupant family's eligibility. An owner shall lease or sell apartment only to a person who has received a certificate of eligibility issued by the Agency. Violations of this provision shall constitute grounds for revocation of a certificate of occupancy. D. On or before March 31 of each year thereafter, the Town Housing Agency shall notify the owner or manager of each multifamily development containing low- or moderate-income density incentive apartments and the owner of all such apartments of the rent, sales and income eligibility requirements for such apartments based upon figures derived from the preceding calendar year. E. The owner or manager of such multifamily development and owner of each such apartment shall certify to the Town Housing Agency on or before May 31 of each year that the current occupancy of all density incentive apartments complies in all respects with the terms of this chapter. F. Continued eligibility. Applicants for low- or moderate-income rental apartments referred to in this section shall, if eligible and if selected for occupancy by the owner or manager of the development, sign leases for a term of not more than two years. G. As long as a resident remains eligible and has complied with the terms of the lease, said resident shall be offered a two-year renewal of the lease. If a resident's annual gross income should subsequently exceed by more than 20% the maximum then allowable, as defined in § 60-210 of Chapter 60 , Zoning, and if there is at that time an otherwise eligible applicant within one of the categories, said resident may complete his current lease term and shall be offered a non-low- or moderate-rental apartment available in the development at the termination of such lease, if available. If no such apartment shall be available at said time, the resident may be allowed to sign one additional year lease for the low- or moderate-income apartment he occupies, but shall not be offered a renewal of the lease beyond the expiration of said additional year. H. In the case of owner-occupied low- or moderate-income apartments, the title to said property shall be restricted so that in the event of any resale by the home buyer or any successor, the resale price shall not exceed the then maximum sales price for said apartment, as determined in accordance with Subsection F , Continued eligibility, above or the sum of the following, whichever is greater: (1) The amount of any principal payment made by the home buyer. (2) The remaining principal of any mortgages. (3) The value of any fixed improvements made by the home buyer and not included within the above provisions. (4) Reasonable and necessary expenses incidental to the resale.