New York City Acquisition Fund to Have Exclusive Focus on M/WBEs and Nonprofits

The fund currently has $210 million in lendable proceeds. On January 21, 2021, Mayor Bill de Blasio, along with the Taskforce on Racial Inclusion & Equity, the Department of Housing Preservation and Development, the Housing Development Corporation, Enterprise Community Partners, Local Initiatives Support Corporation, and a coalition of public, private and philanthropic partners announced that the New York City Acquisition Fund (NYCAF) will exclusively serve Minority and Women-Owned Businesses (M/WBEs) and nonprofits to support affordable <Read More>

HPD Announces Program To Allocate Funds to Nonprofits for Vacant Property Development

The City estimates the program will assist in the acquisition of approximately 35 vacant sites over the next five years. On March 8, 2019, the New York City Department of Housing Preservation and Development announced a new program to advance the process for affordable housing development by providing loans for upfront costs to nonprofit developers. The New York City Down Payment Assistance Fund (DPAF) seeks to speed up the development process for affordable housing by … <Read More>