New York Attorney General Letitia James, New York City Mayor Eric Adams, and New York City Department of Housing Preservation and Development (HPD) Acting Commissioner Ahmed Tigani announced a new pilot program to support struggling Housing Development Fund Corporation (HDFC) cooperatives in New York City and ensure they can continue to offer safe, affordable homeownership opportunities for low-income New Yorkers.
The pilot program — called the HDFC Cooperative Technical Assistance Program (CTAP) and backed by settlement funds from the Office of the Attorney General (OAG) — will provide HDFC co-ops in New York City with targeted technical assistance from the Urban Homesteading Assistance Board, Inc. (UHAB) to help improve their financial, operational, and physical health.
“As New York City faces a housing crisis, we must do everything we can to preserve affordable housing and homeownership opportunities,” said Attorney General James. “This pilot program will help HDFC co-ops continue to provide safe, sustainable, and affordable paths to homeownership for low-income New Yorkers. I am grateful to Mayor Adams, HPD, and UHAB for their partnership in bringing this new program to life.”…