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Affordable Housing Permanent Loan Program

Program (?) Affordable Housing Permanent Loan Program
Abbreviation AHPLP
Program Description

The Affordable Housing Permanent Loan Program (AHPLP) provided financing from a pool of HDC funds intended to make small, permanent, below-market rate first mortgage loans on projects primarily developed under programs sponsored by HPD. Generally, the maximum amount of each mortgage loan was $2,000,000 and did not exceed 60 percent of the combined mortgage loans from HPD and/or other lenders. For each AHPLP construction mortgage loan, HDC entered into a buy-sell agreement with the mortgagor’s construction lender.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Financing
Government Agency (?) NYC Dept of Housing Preservation and Development
Program Information (?)  
Scale Medium Scale (between 1,000 and 4,999 units produced)
Timeframe 1991-2006
Developer/Owners (?) For-Profit, Non-Profit
Property Information (?)  
Property Occupancy Occupied, Vacant
Property Type Land, Building
Building Type Multi-family
Construction Type Rehabilitation, New Construction
Occupant Tenure (?) Rental, Homeownership
Occupant Income Restrictions (?) No Restrictions
More Information FMS Bonds, Inc.
Available on CoreData.nyc? No

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