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The original goal of NYC HDFCs in the early 1980s was to salvage neglected housing stock [3] while lifting 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.
The listed owner — Surrey Carlton Housing Development Fund Corp. at 641 Lexington Ave. in Manhattan — didn't respond to a request for comment on Wednesday.
Hillman Housing Corporation (1947–1950), in Cooperative Village, 807 units; Under the Housing Development Fund Corporation. 566 W. 159th Street, Washington Heights; 1007-09 E. 174th Street, the Bronx; Lenox Court, East Harlem; Sponsored by the United Housing Foundation and International Ladies' Garment Workers' Union.
Metropolitan Housing Development Corp, 429 U.S. 252 (1977), was a case heard by the Supreme Court of the United States dealing with a zoning ordinance that in a practical way barred families of various socio-economic, and ethno-racial backgrounds from residing in a neighborhood. The Court held that the ordinance was constitutional because there ...
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
A Municipal Assistance Corporation (MAC) was an independent New York State public-benefit corporation created by the State of New York for purposes of providing financing assistance and fiscal oversight of a fiscally-distressed city. Two MACs are explicitly designated under New York law.
Oct. 15—A group of Monadnock Region activists and officials have banded together and are working on a proposal to create a housing development trust fund to help combat the crippling scarcity of ...
The twelfth squat in the neighborhood, 272 E. Seventh St., was not accepted into the program. UHAB promised financing to bring the homes into code compliance and helped each building form a Housing Development Fund Corporation. The units would be purchased for $250, have a property tax exemption, and have limits on the resale price. [4] [20]