Termsheets

HDC offers a variety of innovative and creative programs with favorable financing terms generally unavailable in the commercial market.  Loans can be used for the new construction, acquisition and rehabilitation of housing for people within a broad range of incomes. Below is a list of current program offerings for multi-family rental development, cooperative development and preservation.

Multi-Family Rental Programs

 

  • Mixed Income Program: Mix & Match
    Tax-exempt bonds and as of right " 4%" Low-Income Housing Tax Credits used in conjunction with HDC's corporate reserves to create low,middle and moderate income housing

 

  • Mixed-Middle Income Program (M 2)
    Tax-exempt bonds and as of right " 4%" Low-Income Housing Tax Credits used in conjunction with HDC's corporate reserves to create low, middle and moderate income housing.

 

  • Mixed-Income Program (50/30/20)
    Tax-exempt bonds and as of right " 4%" Low-Income Housing Tax Credits used in conjunction with HDC's corporate reserves to create low, middle and market rate housing.

 

Preservation Programs

  • Neighborhood Pillars Loan Program
    The Neighborhood Pillars program provides HDC Funds, tax exempt and/or taxable bonds to nonprofits and mission driven organizations to acquire and rehabilitate unregulated or rent stabilized housing for low-to moderate-income households.
     
  • Preservation Program 
    Tax-exempt bonds or HDC funds used to acquire, rehabilitate and upgrade existing multi-family developments and preserve low income housing. Private activity volume cap and as-of-right 4% Low-Income Housing Tax Credits are not available for the program at this time. The program term sheet is under revision; please contact 212.227.5500 with any questions.

  

  • Mitchell-Lama Reinvestment Program
    Tax-exempt and/or taxable bonds, and HDC funds used to acquire, rehabilitate and restructure existing debt to preserve Mitchell-Lama developments.

 

  • Repair Loan Program
    Taxable bonds and/or HDC funds used to rehabilitate Mitchell-Lama developments.