Conversions to joint living-work quarters for artists shall not be permitted after December 15, 2021, within the Special SoHo-NoHo Mixed Use District.

For developments, enlargementsor conversions, for the purposes of applying Section 123-22 (Additional Conditions for Certain Uses), joint living-work quarters for artists shall not be considered an existing manufacturing or commercial use.

For joint living-work quarters for artists existing on December 15, 2021, any conversion to a residence shall only be permitted upon certification by the Chairperson of the City Planning Commission to the Commissioner of the Department of Building that instruments in a form acceptable to the City are executed and recorded and that, thereafter, a contribution has been deposited in the SoHo-NoHo Arts Fund. The execution and recording of such instruments and the payment of such non-refundable contribution shall be a precondition to the filing for or issuing of any building permit allowing the conversion a joint living-work quarters for artists to a residence.

The contribution amount shall be $100.00 per square foot of floor area to be converted from a joint living-work quarters for artists to a residential use as of December 15, 2021, and shall be adjusted by the Chairperson annually. Such adjustment shall occur on August 1 of each calendar year, based on the percentage change in the Consumer Price Index for all urban consumers as defined by the U.S. Bureau of Labor Statistics for the 12 months ended on June 30 of that year. The contribution amount shall be determined based upon the rate which is in effect at the time the contribution is received.