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Under this law, the city of New York is able to sell buildings directly to tenant or community groups to provide low-income housing. Many HDFCs were created through a process of co-op conversion of a foreclosed, city-owned property. As of 2008, over 1,000 HDFC cooperatives have been developed in the city.
Co-op city in the Bronx, a Mitchell–Lama development [1] The Mitchell–Lama Housing Program is a non-subsidy governmental housing guarantee in the state of New York. It was sponsored by New York State Senator MacNeil Mitchell and Assemblyman Alfred A. Lama and signed into law in 1955. [2] [3]
In addition, the income requirements were higher than for most New York City Housing Authority (NYCHA) housing units. Residents were given "shares" of their units as owners, but they were forbidden from selling them to anyone but NYCHA. The Forest Hills Houses were the first co-operative public low-income housing in the city.
Co-op City (short for Cooperative City) is a cooperative housing development located in the northeast section of the borough of the Bronx in New York City.It is bounded by Interstate 95 to the southwest, west, and north and the Hutchinson River Parkway to the east and southeast, and is partially in the Baychester and Eastchester neighborhoods.
In early February, vacancy rates in New York City hit rock bottom at just 1.4%. That’s the lowest vacancy rate on record since the city started tracking the measure in the 1960s, according to ...
The New York City Council is allocating $1.5 million in funding to support the work of The Bridge Project, a nonprofit that operates a guaranteed income program for expecting mothers. More Local News
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