HDC offers a variety of innovative and creative programs with favorable financing terms generally unavailable in the commercial market. Loans can be used for the new construction, acquisition and rehabilitation of housing for people within a broad range of incomes. Below is a list of current program offerings for multi-family rental development, cooperative development and preservation.
Multi-Family Rental Programs
- 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.