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Mutual Housing Association of New York

Program (?) Mutual Housing Association of New York
Abbreviation MHANY
Program Description

The Mutual Housing Association of New York (MHANY) program began as a response to squatters that occupied vacant, city-owned sites in the East New York neighborhood of Brooklyn. HPD created the program to dispossess in-rem buildings and turn illegal squatters into legal homesteaders. Through negotiations with the squatter population, the city created a separate entity called MHANY and sold the properties to it. MHANY retained land titles to existing sites, and had the legal right to transfer ownership to homesteaders that had worked on the rehabilitation of buildings they occupied. Under HPD rules, homesteaders that chose to sell their property received a limited portion of the resale price. To encourage long-term affordability, MHANY has the first option to purchase the unit and then resell it to a household on the waiting list at a restricted sale price. In addition to the vacant buildings, HPD provided technical assistance, permanent financing, and a portion of construction financing to MHANY cooperatives.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Financing, Property, Other
Government Agency (?) NYC Dept of Housing Preservation and Development
Program Information (?)  
Scale Small Scale (between 1 and 999 units produced)
Timeframe 1991-1993
Developer/Owners (?) Non-Profit, Government
Property Information (?)  
Property Occupancy Vacant
Property Type Building, City-Owned
Building Type Multi-family
Construction Type Rehabilitation
Occupant Tenure (?) Homeownership
Occupant Income Restrictions (?) Low-Income
More Information Mutual Housing Association of New York
Available on CoreData.nyc? No

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