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Directory of NYC Housing Programs

Secured Loan Rental Housing Program (SLRHP)

Under the Secured Loan Rental Housing Program (SLRHP), the New York State Housing Finance Agency (HFA) promoted the construction, acquisition, or rehabilitation of multi-family rental housing developments by lending out proceeds from the sale of tax-exempt or taxable bonds. SLRHP was used for private for-profit housing, non-profit sponsored housing, special needs housing, housing for educational or medical institutions, congregate care facilities for seniors, and adult care homes. For-profit developers made either 20 percent of the units in a development available to tenants whose income did not exceed 50 percent of Area Median Income (AMI) or 40 percent of the units to tenants whose income did not exceed 60 percent of AMI. All HFA bonds required credit enhancement by a construction and permanent lender. The minimum loan amount for the program is $1,000,000 and the maximum was about $125,000,000.

Program Information Help Icon

  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Small Scale (between 1 and 999 units)
  • Timeframe: Started 1983
  • Occupancy tenure: Rental
  • Construction Type: Rehabilitation, New Construction
  • Building Type: Multi-family
  • Developers/Owners: For-profit, Non-profit
  • Income Restrictions: Very Low-income
  • Special Populations: Seniors, Persons with Disabilities

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