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Directory of NYC Housing Programs

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New York City Housing Trust Fund

Program (?) New York City Housing Trust Fund
Abbreviation HTF
Program Description

The New York City Housing Trust Fund provided a flexible subsidy to non-profit and for-profit developers to build or substantially rehabilitate multi-family apartments. Subsidies were provided in the form of a 30-year term, one percent interest loan. Apartments were rentals, condominiums, or cooperatives of at least ten units. In order to be eligible for funding consideration, proposed projects had to include a minimum of 20 percent of units affordable to hard-to-reach households, defined as those whose earnings are at or below 30 percent of AMI, or between 61 percent and 80 percent of AMI. The NYC Housing Trust Fund was funded in 2006 with $130 million in revenues from the Battery Park City Authority, a state agency created in 1968 charged with overseeing the development of Battery Park City.

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 Small Scale (between 1 and 999 units produced)
Timeframe 2006-2008
Developer/Owners (?) For-Profit, Non-Profit
Property Information (?)  
Building Type Multi-family
Construction Type Rehabilitation, New Construction
Occupant Tenure (?) Rental, Homeownership
Occupant Income Restrictions (?) Extremely Low-Income, Low-Income
More Information NYS HCR
NY Times
Available on CoreData.nyc? No

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