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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 (SONYMA).
The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
Several federal and state initiatives have targeted this problem, but have failed to provide enough affordable, inclusive, and sustainable housing for New York City residents. The demand for affordable housing in New York City remains high: 2.5 million applications were submitted for 2,600 available affordable apartments in 2016. [63]
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The New York State Housing Finance Agency (HFA) is a New York State public-benefit corporation created in 1960 to increase the supply of rental housing for low-income people by issuing bonds and providing low-interest mortgage loans to regulated housing companies. [1]
In 2013, Rajkumar ran for the New York City Council in the Democratic primary in New York City's first Council district, losing to incumbent Margaret Chin. [21] Rajkumar won 41.5% of the vote. [ 22 ] [ 23 ] Rajkumar's campaign championed affordable housing and community-friendly development.
The housing movement in New York City was noted in this era for the prevalence of women in leadership, including at the Met Council; [6] in addition to Jane Benedict, other founders included Esther T. Rand [7] and Frances Goldin, [1] and other women in leadership roles early in the organization's existence included Mrs. Juan Sanchez [8] and Marie Runyon. [1]
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...