This file contains the foundational legal documents that established 487-89 Amsterdam Avenue as a Housing Development Fund Corporation (HDFC) cooperative. The packet includes:

HPD Letter (2010) — A letter from HPD Commissioner Rafael E. Cestero to all HDFC shareholders outlining the legal responsibilities of living in and governing an HDFC co-op
HDFC Fact Sheet — Official HPD guidance on the rules governing share sales, subletting, and the fiduciary responsibilities of board members
Attachment A — Section 576 Income Formula — The formula used to calculate the maximum allowable income for incoming shareholders, with worked examples
Attachment B — Area Median Income Standards (2010) — Income limits by family size at 120% and 165% of area median income
60/40 Security Agreement (1992) — The legally binding agreement between the co-op and the City of New York establishing the 25-year resale restriction and the City’s 40% share of any resale profits
Certificate of Incorporation (1988) — The founding document that legally established 487-89 Amsterdam Avenue Housing Development Fund Corporation under Article XI of the Private Housing Finance Law
HPD Certificate of Approval and Consent — The official HPD certification approving the Certificate of Incorporation and authorizing its filing with the New York Secretary of State

Corporate Formation Documents