The Mitchell-Lama Repair Loan Program is an effort to preserve Mitchell-Lama housing by offering a loan to project-owners to make needed capital improvements in exchange for longer periods of affordability. Capital repairs must be approved by the New York City Housing Development Corporation (HDC) prior to construction, and loans are made at a six-percent fixed-interest rate. Loan amounts range from a minimum of $100,000 to a maximum of $10,000,000, with a maximum maturity of 18 years.