Overview

A major element of New York’s preservation strategy is the city’s Acquisition Fund. The fund provides $230 million in affordable financing for the acquisition and preservation of affordable homes. The fund was capitalized with $8 million in city funds, combined with $32 million in loan guarantees from private philanthropic organizations, to leverage more than $190 million in private financing. The fund, which provides bridge financing for the acquisition of properties, has preserved or created over 7,000 affordable housing units as of 2015.

For More Info:

http://www.nycacquisitionfund.com/