Continuing in its tradition of improving access to affordable, workforce housing in the New York metropolitan area, the Housing Partnership Development Corporation (Housing Partnership) is pleased to announce expanded services to include taking on the role of Administering Agent for developers participating in the City’s Inclusionary Housing Program (IH). The IH program, managed by the NYC Department of Housing Preservation and Development (HPD), provides zoning incentives to developers constructing or substantially rehabilitating residential property who agree to designate a number of those units as permanently affordable. The units can be on or off site.
As Administering Agent, Housing Partnership would be responsible for ensuring that the developer and the project meet the provisions of the IH program required in the Regulatory Agreement between the developer and HPD, as it relates to the occupancy of those affordable units.
Through this unprecedented role, the Housing Partnership seeks to enhance the success of the IH program, by offering its affordable housing expertise, professional staff and long-term relationship with HPD to streamline and standardize the yearly reporting and compliance work that is required.
The Housing Partnership now also offers marketing and lease-up services. In that capacity, we will develop and implement a marketing plan, approved by HPD, which will advertise units fairly, to a broad market base, targeting apartment seekers meeting the income requirements. We will review all applicants to determine their eligibility to rent or purchase an IH unit.
With over 30 years of experience reviewing applications for income-restricted housing, and our extensive experience partnering with government agencies on a myriad of affordable housing programs, we will bring this expertise to developers as a third-party agent. The Housing Partnership has agreements to serve as administering agent for several projects and is engaged in discussion with additional developers of IH projects with whom we are excited to launch this new service.