Year 15
The Department of Housing Preservation and Development’s LIHTC Preservation (“Year 15”) Program is an affordable housing loan program that focuses on the preservation of Low Income Housing Tax Credit properties…
Right of First Refusal
The Right of First Refusal is an important provision of the Low Income Housing Tax Credit program that protects permanent affordability by enabling nonprofits to buy the buildings they develop…
Extremely Low & Low-Income Affordability (ELLA)
An program of the Department of Housing Preservation and Development, the Extremely Low & Low-Income Affordability Programvis an important financing tool because it offers deeper levels of affordability than other…
Mix & Match
The Department of Housing Preservation and Development’s Mix & Match program funds the new construction of mixed income multi-family rental projects in which 40%-60% of the units are at low…
Supportive Housing Loan Program (SHLP)
The Department of Houing Preservation and Development's Supportive Housing Loan Program makes loans to developers of permanent supportive housing with on-site social services. Projects developed with SHLP funding must provide…
Empire State Supportive Housing Initiative (ESSHI)
Empire State Supportive Housing Initiative
Low Income Housing Tax Credit (LIHTC)
A federal tax incentive that facilitates financing to develop low-income housing. The program provides dollar-for-dollar credit toward taxes owed by the housing owner. These tax credits can be sold, or…
Resolution A
The "Reso A" program, written into the city charter, allows borough presidents and council members to assign discretionary funds to capital projects to meet local needs.
Project Based Vouchers (PBV) Section 8
Project Based Vouchers require tenants to pay 30% of their income towards rent and makes up the difference between that and the market rent. Unlike the regular Section 8 subsidy,…
Participation Loan Program (PLP)
The Department of Housing Preservation and Development's Participation Loan Program provides low-interest loans and/or tax exemptions to multifamily building owners to facilitate the moderate or substantial rehabilitation and affordability of…
