Peekskill, N.Y., Code of Ordinances ch. 155 § 155-4
Time period of affordability
Operative Text
Units designated as affordable and workforce housing units must remain affordable for a minimum of 50 years from the date of the original lease-up for rental properties and from the date of original sale for for-purchase units unless sold in accordance with § 155-9 .
Under Peekskill, N.Y., Code of Ordinances ch. 155 § 155-4, any housing unit designated as affordable or workforce housing must maintain its affordability status for at least 50 years. For rental properties, that 50-year clock starts from the date the unit is first leased; for units sold to homeowners, it begins on the date of the original sale. An exception exists when a unit is sold in accordance with § 155-9, which may alter or end the affordability obligation under specified conditions.
Plain English — not legal advice.
Operators and developers subject to Peekskill, N.Y., Code of Ordinances ch. 155 § 155-4 generally maintain records documenting the original lease-up date for rental units and the original sale date for for-purchase units, since those dates trigger the 50-year affordability period. Compliant property owners typically ensure that affordability restrictions are reflected in deeds, regulatory agreements, or other recorded instruments for the full required duration. Owners considering a sale of a designated unit commonly review § 155-9 to understand whether and how that transaction may affect the ongoing affordability obligation.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Under Peekskill, N.Y., Code of Ordinances ch. 155 § 155-4, tenants and buyers of designated affordable or workforce housing units have a right to the protections that come with that affordability designation for a period of at least 50 years from the unit's original lease-up or sale date. If a landlord or seller appears to be removing a unit from affordable status before that period has elapsed—outside of the process described in § 155-9—tenants may consider raising that as a concern with the City of Peekskill or consulting a local tenant-rights organization. Keeping copies of any lease or purchase documents that reference the unit's affordable designation can help establish when the 50-year period began.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 7, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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