Directory of New York City Affordable Housing Programs

Program (?) Tenant Interim Lease Program
Abbreviation TIL
Program Description

The Tenant Interim Lease Program (TIL) provides renters that live in City-owned buildings the opportunity to own those units as a cooperative. Existing tenants of buildings that participate in the program are required to attend building management education programs, and rents are restructured to enable the property to be converted to cooperative ownership with maintenance fees sufficient to cover ongoing expenses. After the building achieves a stable occupancy rate and operating expenses, all units in the property are transferred from HPD to tenants as cooperatives for $250 an apartment. 

HPD funded the rehabilitation of these buildings, initially, using a modest scope and then later using a gut rehabilitation scope.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Property
Government Agency (?) NYC Dept of Housing Preservation and Development
Program Information (?)  
Scale Very Large Scale (over 10,000 units produced)
Timeframe 1978-Present
Developer/Owners (?) Government, Tenant
Property Information (?)  
Property Occupancy Vacant
Property Type Land, City-Owned
Building Type Multi-family
Construction Type Rehabilitation, New Construction
Occupant Tenure (?) Homeownership
Occupant Income Restrictions (?) No Restrictions
More Information NYC HPD

« Back