LIHTC Preservation (Year 15) Program

The Low-Income Housing Tax Credit Portfolio Preservation (Year 15) Program ensures the future financial and physical viability and preserves the long-term affordability of Low Income Housing Tax Credit (“tax credit”) properties that are reaching or have reached the end of the initial tax credit compliance period. The program works with the owner to evaluate the needs of each project and develop a repositioning strategy to address the project's financial and capital needs as part of the Year 15 tax credit investor exit review. Repositioning strategies may include extensions or modifications of existing mortgages, securing additional subsidy, and/or leveraging private debt.

Resources

HPD Contact
hpdyear15@hpd.nyc.gov
Kerry LaBotz, Director LIHTC Preservation (Year 15)
(212) 863-5473