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Through HDC's award-winning 50/30/20 program, 20%
of the apartments in a multi-family
rental building are restricted for
low-income tenants, 30% are reserved for
middle-income tenants and the remaining
are rented at market rates. This
structure, the only one of its kind in
the City, allows us to provide a deeper
level of affordability across many
different economic levels. HDC uses the
proceeds from the sale of tax-exempt
bonds to make first position mortgages
and also uses its corporate reserves to
make 1% second mortgage loans. |
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