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The New York City Housing Authority (NYCHA) is a public development corporation which provides public housing in New York City, and is the largest public housing authority in North America. Created in 1934 as the first agency of its kind in the United States, it aims to provide decent, affordable housing for low- and moderate-income New Yorkers ...
The housing shortage in New York is driven by a lack of housing supply. Home construction in New York City lags far behind other major American cities. [4] From 2010 to 2023, housing supply in the city increased by 4% while jobs increased by 22% [4]; however, 973,000 workers commuted into the city from its suburbs as of 2019 [5], as employment ...
The New York State Housing Trust Fund Corporation (HTFC) is a subsidiary of the HFA that administers the Low Income Housing Trust Fund Program; the purpose of which is to grant or loan up to $40,000 per housing unit. The advance may be used to rehabilitate vacant or under-utilized residential property, or convert vacant non-residential property ...
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 state Housing Development Fund provides loans to nonprofit organizations to develop low-income housing projects. Other programs include the Rural Rental Assistance Program for projects financed with mortgages from the USDA Rural Housing Service 515 Program, and the Weatherization Assistance Program assists with reducing their heating ...
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
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