New Housing Opportunities Program (New HOP)   
Taxable bonds used in conjunction with HDC's corporate reserves used to create middle-income affordable housing in the outer-boroughs.

Low-Income Affordable Marketplace Program (LAMP)
Tax-exempt bond proceeds and as of right " 4%" Low-Income Housing Tax Credits are used in conjunction with HDC's corporate reserves to create housing in the outer-boroughs.

Mixed-Income Housing (50/30/20)
Tax-exempt bonds are used to finance the construction of this housing, "4%" Low-Income Housing Tax Credits are used for at least 20% of the units reserved for low-income tenants, HDC corporate reserve financing is used for the units reserved for middle-income tenants.


Taxable 80/20 Program   (NEW)
Available as a means to provide affordable housing in high rent areas of the City.  Using taxable bonds requires that at least 20% of the units are reserved for households earning moderate wages, up to 80% or 100% of the city's area median income.  Also available is the use of HDC's corporate subsidies for any units reserved for low-income households.
 

Cooperative Housing Program
Taxable bonds issued in a forward commitment for permanent financing and is combined with HDC's corporate reserves.

Cooperative Conversion Program
This is a newly created program focused on providing homeownership opportunities for residents of Mitchell-Lama rental housing. The goal of the program is to facilitate the formation of co-operative housing corporations by providing financial incentives to existing owners and new sponsors. Taxable bonds are issued for the first mortgage with the use of corporate reserves to make a 1% interest second mortgage.

Mitchell-Lama Preservation Program
Two programs created to meet the challenges facing this housing stock - from the physical improvements needed to maintain safe and quality housing, to the need of maintaining its affordability.

Repair Loan Program
HDC funds used to finance repair loans for rehabilitation, requiring at least 10 years of participation in the Mitchell-Lama guidelines.

Download Loan Application Form

Mortgage Restructuring Program
Bond proceeds used to restructure the mortgages for debt relief on these developments as well as grant money provided to assist with capital improvements, requiring at least 15 years of participation in the Mitchell-Lama guidelines.

202 Preservation Program
Tax-exempt bonds are used to refinance the original high-interest mortgages of this senior housing combined with 4% & Low-Income Housing Tax Credits used to raise equity needed to add services and rehabilitate the developments.