The Extended Affordability Benefit Program is available to rental projects that began construction prior to July 1, 2008 and qualified for a 20-year or 25-year 421-a tax exemption. Owners who elect to participate receive an additional 10 years of 50% exemption for 25-year benefit properties, or an additional 15 years of 50% exemption for 20-year benefit properties. During this extended benefit period, the owner is required to rent at least 20% of the units to households whose income does not exceed 100% of AMI (and whose average income does not exceed 80% of AMI). This is simply a 10- or 15-year extension of the existing affordability requirement applicable to such projects. In addition, the owner is also required to rent at least 5% of the units to households whose income does not exceed 130% of AMI.