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The New York State Housing Finance Agency (HFA) is a New York State public-benefit corporation created in 1960 to increase the supply of rental housing for low-income people by issuing bonds and providing low-interest mortgage loans to regulated housing companies. [1]
Statewide Housing Trust Funds are a significant source of financing for affordable housing nationwide, with 20% receiving more than $25 million per year in funding and some reaching more than $100 million. Currently, 47 of 50 states in the U.S. have at least one Housing Trust Fund.
ILLINOIS (WCIA) — Governor JB Pritzker signed an executive order on Wednesday to help expand affordable housing for Illinoisians. The order will enlist agencies throughout the state to explore ...
The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
The solution is for Albany lawmakers to establish a $250 million emergency Affordable Housing Relief Fund that would help property owners rebuild necessary cash reserves and direct investment back ...
The measure adopted on the final day of the legislative session allows NYCHA to transfer 25,000 apartments into a publicly owned trust with the ability to issue bonds and borrow money to cover ...
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
Its mission is to expand affordable housing opportunities for low- and moderate-income New Yorkers. HCR consists of several state agencies and corporations: the New York State Division of Housing and Community Renewal (DHCR), the New York State Housing Finance Agency (HFA), the State of New York Mortgage Agency (SONYMA).