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New York State Housing Finance Agency
The New York State Housing Finance Agency (HFA) is a New York State public-benefit corporation created in 1960 to build and preserve affordable multifamily rental housing throughout New York State. HFA sells bonds and uses the proceeds to make mortgages to affordable housing developers. It and its subsidiaries are now administered by New York State Homes and Community Renewal. Developers can take advantage of several financing resources when they obtain HFA financing. These include the All Affordable Housing Program for developments in which 100% of the units are affordable; the Mitchell Lama Rehabilitation and Preservation (RAP) program, which helps renovate state-financed Mitchell Lama projects; and the 80/20 New Construction Housing Program, which provides financing for rental projects where at least 20% of the units are set aside for low-income tenants. Organization In 2017, the HFA had operating expenses of $368.76 million, an outstanding debt of $16.780 billion, and a staffi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Public-benefit Corporations
New York state public-benefit corporations and authorities operate like quasi-private corporations, with boards of directors appointed by elected officials, overseeing both publicly operated and privately operated systems. Public-benefit nonprofit corporations share characteristics with government agencies, but they are exempt from many state and local regulations. Of particular importance, they can issue their own debt, allowing them to bypass limits on state debt contained in the New York State Constitution. This allows public authorities to make potentially risky capital and infrastructure investments without directly putting the credit of New York State or its municipalities on the line. As a result, public authorities have become widely used for financing public works, and they are now responsible for more than 90% of the state's debt. The growing influence of public authorities over state and local financing, coupled with their ability to avoid regulations applicable to gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank behind s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Homes And Community Renewal
New York State Homes and Community Renewal (HCR) is New York State's affordable housing lender. 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 The State of New York Mortgage Agency (SONYMA) is a New York State public-benefit corporation created in 1970 by the state government of New York to provide affordable homeownership to low- and moderate-income New Yorkers. It offers affordably pri ... (SONYMA). Together, HCR finances single-family residential mortgages, multifamily lending housing programs and mortgage insurance for both single-family and multifamily housing. It also provides grants to local governments and not-for-profit organizations to subsidize the construction of new housing and renovation of existing housi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Department Of Social Services
The New York State Department of Family Assistance (DFA), also known as the Department of Family Services, is a department of the New York state government. Social Services Law § 5; "The state department of social welfare, provided for in the constitution, is hereby continued." Social Services Law § 2(1); "Department means the state department of social services .. Chap. 436 of the Laws of 1997, § 122; " ..the department of social services ..is hereby renamed the department of family assistance. .. Its regulations are compiled in title 18 of the ''New York Codes, Rules and Regulations''. It is composed of two autonomous offices:The Welfare Reform Act of 1997, Chap. 436 of the Laws of 1997, § 122. "(a) Notwithstanding any inconsistent provision of law to the contrary, effective April 1, 1997, the department of social services, as established by chapter 55 of the consolidated laws of the state of New York, is hereby renamed the department of family assistance. Within the dep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Authorities Budget Office
The New York State Authorities Budget Office (ABO) is an independent office in the state of New York established by the Public Authorities Accountability Act of 2005 and signed into law by Governor Pataki in 2006. In 2009, the ABO was restructured as part of the Public Authorities Reform Act. The ABO's mission is to make New York State public-benefit corporations more accountable and transparent. The ABO receives assistance from the New York State Department of State. Its powers and duties include: * Collecting, analyzing and disseminating organizational, operational, performance and financial information on public authorities for the purpose of making this information available to the public. * Making recommendations to the Governor and the Legislature on debt, compensation, procurement practices, property transactions, structure and mission, and other issues related to improving the performance and transparency of public authorities. Annual report It publishes an annual report, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empire State Development Corporation
Empire State Development (ESD) is the umbrella organization for New York's two principal economic development public-benefit corporations, the New York State Urban Development Corporation (UDC) and the New York Job Development Authority (JDA). The New York State Department of Economic Development (DED) is a department of the New York government that has been operationally merged into ESD. ESD gives its mission as promoting the state economy, encouraging business investment and job creation, and supporting local economies through loans, grants, tax credits, real estate development, marketing and other forms of assistance. History The state Division of Commerce was created in 1941 and subsumed several state bureaus and the Bureau of Industry. It was replaced in 1944 by the state Department of Commerce. The New York State Urban Development Corporation (UDC) was created in 1968 by the York State Urban Development Corporation Act. On August 31, 1987, the Omnibus Economic Developme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nyhomes
New York State Homes and Community Renewal (HCR) is New York State's affordable housing lender. 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 The State of New York Mortgage Agency (SONYMA) is a New York State public-benefit corporation created in 1970 by the state government of New York to provide affordable homeownership to low- and moderate-income New Yorkers. It offers affordably pri ... (SONYMA). Together, HCR finances single-family residential mortgages, multifamily lending housing programs and mortgage insurance for both single-family and multifamily housing. It also provides grants to local governments and not-for-profit organizations to subsidize the construction of new housing and renovation of existing housi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Of New York Mortgage Agency
The State of New York Mortgage Agency (SONYMA) is a New York State public-benefit corporation created in 1970 by the state government of New York to provide affordable homeownership to low- and moderate-income New Yorkers. It offers affordably priced fixed-rate mortgages through several mortgage programs for eligible homebuyers. Each program offers competitive interest rates, low down payments, down payment assistance and no prepayment penalties. SONYMA offers its programs through a network of participating lenders throughout New York state who contract with the agency to offer SONYMA's programs to their customers. The mortgage loans are purchased from the lenders by SONYMA, which funds the purchases by issuing tax-exempt bonds. In 2017, it had operating expenses of $62.57 million, an outstanding debt of $2.533 billion, and a staff level of 275 people. SONYMA also runs a Mortgage Insurance Fund (MIF) to provide insurance for mortgages made by commercial and public lenders to finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Of New York Municipal Bond Bank Agency
The State of New York Municipal Bond Bank Agency (MBBA) was a New York State public-benefit corporation founded in 1972 by the state legislature to offer municipalities increased access to the bond market by creating an alternate method by which they could sell their general obligation bonds. MBBA was authorized to issue up to $1 billion of its bonds and to use the proceeds to buy bonds issued by municipalities. Following its creation there was insufficient interest by municipalities to use MBBA's financial services. In 1991 the cities of Buffalo and Rochester entered into agreements with MBBA to sell their bonds to MBBA in order to refund excess property taxes paid by residents of those cities. In 2017, it had operating expenses of $640,000, an outstanding debt of $402 million, and a staffing level of 269 people It has been absorbed by New York State Homes and Community Renewal. See also * Empire State Development Corporation * New York State Housing Finance Agency * State of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Codes, Rules And Regulations ...
The ''New York Codes, Rules and Regulations'' (NYCRR) contains New York state rules and regulations. The NYCRR is officially compiled by the New York State Department of State's Division of Administrative Rules. Contents See also * ''New York State Register'' * ''Rules of New York City'' * Law of New York * ''Code of Federal Regulations'' References External links New York Codes, Rules and Regulationsfrom West New York Codes, Rules and Regulationsfrom the New York Secretary of State {{Law-stub New York (state) law New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Benefit Corporations In New York (state)
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociology, sociological concept of the ''Öffentlichkeit'' or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, and suffered more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder. Etymology and definitions The name "public" originates with the Latin ''wikt:publicus#Latin, publicus'' (also ''wikt:poplicus#Latin, poplicus''), from ''wikt:populus#Latin, populus'', to the Engli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Finance Agencies Of The United States
Housing, or more generally, living spaces, refers to the construction and assigned usage of houses or buildings individually or collectively, for the purpose of shelter. Housing ensures that members of society have a place to live, whether it is a home or some other kind of dwelling, lodging or shelter. Many governments have one or more housing authorities, sometimes also called a housing ministry or housing department. Housing in many different areas consists of public, social and private housing. In the United States, it was not until the 19th and 20th century that there was a lot more government involvement in housing. It was mainly aimed at helping those who were poor in the community. Public housing provides help and assistance to those who are poor and mainly low-income earners. A study report shows that there are many individuals living in public housing. There are over 1.2 million families or households. These types of housing were built mainly to provide people, main ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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