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Housing Development Fund Corporation (HDFC)
Housing Development Fund Corporation or HDFC is a special type of limited equity housing cooperative in New York City which is incorporated under Article XI of the New York State Private Housing Finance Law (PHFL) and the Business Corporation Law (BCL). 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. The original goal of NYC HDFCs in the early 1980s was to lift people out of poverty and low income status by giving them home ownership. Most HDFC coops originated in crime-ridden neighborhoods as discarded buildings that the city did not want to maintain, thus, the buildings were sold to tenants. As of 2021, the program has been extremely successful, with 90 percent of HDFCs thriving. The HDFCs get a small tax break from the city ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Cooperative
A housing cooperative, or housing co-op, is a legal entity, usually a cooperative or a corporation, which owns real estate, consisting of one or more residential buildings; it is one type of housing tenure. Housing cooperatives are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums and renting. The corporation is membership based, with membership granted by way of a share purchase in the cooperative. Each shareholder in the legal entity is granted the right to occupy one housing unit. A primary advantage of the housing cooperative is the pooling of the members' resources so that their buying power is leveraged; thus lowering the cost per member in all the services and products associated with home ownership. Another key element in some forms of housing cooperatives is that the members, through their elected representatives, screen and select who may live in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the List of United States cities by population density, most densely populated major city in the United States, and is more than twice as populous as second-place Los Angeles. New York City lies at the southern tip of New York (state), New York State, and constitutes the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the world by urban area, urban landmass. With over 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York is one of the world's most populous Megacity, megacities, and over 58 million people live within of the city. New York City is a global city, global Culture of New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Habitat (magazine)
''Habitat'' is an American real estate magazine founded in 1982 and aimed at co-op boards, condominium associations, and related professionals such as attorneys and managing agents. The print magazine concentrates on the greater New York City metropolitan area while its Web site contains features for general-interest co-op/condo directors, residents, and buyers/sellers. Publication history Journalist Carol J. Ott founded what was then titled ''N.Y. Habitat'' in New York City in 1982, for a primary audience of co-op and loft owners/renters. The magazine had evolved from Ott's 1980-82 newspaper, ''The Loft Letter''. Originally bimonthly, in 1997 the publication schedule increased to 11 times yearly, with one double-issue. As of 2016, Ott remains publisher and editor-in-chief. The Associate Publisher is Bill Fink and the Operations Manager is Leslie Strauss. Editorial and art ''Habitat'' publishes both human-interest feature stories, such as how a co-op board avoided a financial c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York (state)
New York, officially the State of New York, is a state in the Northeastern United States. It is often called New York State to distinguish it from its largest city, New York City. With a total area of , New York is the 27th-largest U.S. state by area. With 20.2 million people, it is the fourth-most-populous state in the United States as of 2021, with approximately 44% living in New York City, including 25% of the state's population within Brooklyn and Queens, and another 15% on the remainder of Long Island, the most populous island in the United States. The state is bordered by New Jersey and Pennsylvania to the south, and Connecticut, Massachusetts, and Vermont to the east; it has a maritime border with Rhode Island, east of Long Island, as well as an international border with the Canadian provinces of Quebec to the north and Ontario to the northwest. New York City (NYC) is the most populous city in the United States, and around two-thirds of the state's popul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is the state of having few material possessions or little income. Poverty can have diverse social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: ''absolute poverty'' compares income against the amount needed to meet basic needs, basic personal needs, such as food, clothing, and Shelter (building), shelter; ''relative poverty'' measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of ''relative poverty'' varies from one country to another, or from one society to another. Statistically, , most of the world's population live in poverty: in Purchasing Power Parity, PPP dollars, 85% of people live on less than $30 per day, two-thirds live on less than $10 per day, and 10% live on less than $1.90 per day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperative
A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise".Statement on the Cooperative Identity. ''.'' Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. Cooperatives may include: * businesses owned and managed by the people who consume th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Condominium (living Space)
A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex itself, as well as each individual unit within. Residential condominiums are frequently constructed as apartment buildings, but there are also rowhouse style condominiums, in which the units open directly to the outside and are not stacked, and on occasion "detached condominiums", which look like single-family homes, but in which the yards (gardens), building exteriors, and streets as well as any recreational facilities (such as a pool, bowling alley, tennis courts, and golf course), are jointly owned and maintained by a community association. Unlike apartments, which are leased by their tenants, condominium units are owned outright. Additionally, the owners of the individual units also collectively own the common areas of the property, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Conservation Coordinators
Housing Conservation Coordinators (HCC) is a not-for-profit organization located at 777 Tenth Avenue in Hell's Kitchen, Manhattan, USA, that provides legal representation, engages in tenant and community organizing, installs energy efficient systems through their Weatherization Program and offers technical training. History HCC was founded in 1972 at the time of New York City's financial crisis and assisted tenants of buildings abandoned by their landlords to buy their buildings — if the city had seized them for back taxes — under the Tenant Interim Lease Program. Such tenant-owned buildings were organized as low-income cooperatives called Housing Development Fund Corporation Housing Development Fund Corporation or HDFC is a special type of limited equity housing cooperative in New York City which is incorporated under Article XI of the New York State Private Housing Finance Law (PHFL) and the Business Corporation Law ...s. When the city attempted to raise the purchase pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mitchell–Lama Housing Program
Co-op city in the Bronx, a Mitchell–Lama development 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 Lama. It was signed into law in 1955 as ''The Limited-Profit Housing Companies Act'' (officially contained in the ''Private Housing Finance'' law, article II titled ''Limited-Profit Housing Companies'' and referring to not-for-profit corp., whereas article IV titled ''Limited Dividend Housing Companies'' refers to non-Mitchell–Lama affordable housing organized as business corp., partnerships or trusts from 1927 on). The program's publicly stated purpose was the development and building of affordable housing, both rental and co-operatively owned, for middle-income residents.New York State Division of Housing and Community Renewal (DCHR) - now merged into the NYS Housing and Community Renewal/ref> Under this program, local juris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
