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.
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