The New York City Loft Board was established to regulate the legal conversion of certain loft buildings from commercial and manufacturing use to residential use.  These buildings, known as interim multiple dwellings (IMD), fail to meet the fire safety and other code requirements for legal residential occupancy. The legal conversion process ("legalization") is regulated by the agency's three major units- the Legalization Unit, the Hearings Unit, and Enforcement Unit, whose activities are coordinated by an executive director.  In addition, the agency has a nine-member board, appointed by the Mayor, which oversees the agency's rulemaking activities and the general administration of the agency.

The Loft Board is charged with responsibilities that include:

• Monitoring the work phase of the legalization process;
  
  
• Resolving Loft Law coverage issues, rent disputes, and other controversies presented by IMD landlords and tenants; and
  
  
• Prosecuting violations of the Loft Law legalization timetable deadlines, the Loft Board minimum housing maintenance code, and other violations of the Loft Law and/or Loft Board rules.