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NYC Department of Housing Preservation & Development

FINANCING - Financing tools
Acquisition & Predevelopment:  HPD and its partners offer programs to help finance the cost of acquiring land for affordable housing development and preservation.

New Construction: HPD and HDC offer a range of low-cost financing options for new construction on privately-owned vacant and underutilized sites

Preservation : HPD offers a range of low-cost financing options for privately-owned buildings of varying size. The rehabilitations can range from systems replacement to gut rehabilitation.

Distressed Asset Financing Programs:The Distressed Asset Financing Programs address issues of financial and physical distress in both small homeownership projects and large multifamily properties. This group is responsible for providing both financing tools and policy proposals that shape the City’s response to foreclosures, overleveraged properties, declining sales markets, and stalled sites.

Supportive Housing Loan Program: HPD offers low-cost financing to qualified nonprofits to develop permanent affordable housing with supportive services for homeless and low-income tenants. 

Tax Incentive Programs: Tax incentive programs are for developers and future or current property owners. Some applications are available online. Click on programs for more details and links to available forms and applications.

Low Income Housing Tax Credits: Low Income Housing Tax Credits are awarded annually on a competitive basis to qualified low-income housing projects.

Inclusionary Housing:  The Inclusionary Housing Program provides a zoning bonus for multiple dwelling developments in return for new construction, substantial rehabilitation, or preservation of permanent affordable housing.

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