Termsheets

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

 

  • Mixed-Middle Income Program (M 2)
    Tax-exempt bonds and as of right " 4%" Low-Income Housing Tax Credits used in conjunction with HDC's corporate reserves to create low, middle and moderate income housing.

 

  • Mixed-Income Program (50/30/20)
    Tax-exempt bonds and as of right " 4%" Low-Income Housing Tax Credits used in conjunction with HDC's corporate reserves to create low, middle and market rate housing.

 

Preservation Programs

  • Preservation Program
    Tax-exempt bonds and as of right " 4%" Low-Income Housing Tax Credits used to acquire, rehabilitate and upgrade existing multi-family developments and preserve low income housing.
     
  • 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.

 

 

  • 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.