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Agency Description

New York State Homes and Community Renewal (HCR) consists of all the State's major housing and community renewal agencies, including The Affordable Housing Corporation, The Division of Housing and Community Renewal, Housing Finance Agency, State of New York Mortgage Agency, Housing Trust Fund Corporation and others.

Organizing these agencies under a single leadership and management structure has created new efficiencies and allowed for better coordination of the state's resources. Similar and complimentary programs are now aligned and working together, reducing costs, red tape and duplicative efforts while increasing the effectiveness of the state's housing and community renewal programs.

HCR organizes programs in a logical manner into four groups - Finance and Development, Housing Preservation, Community Renewal and Professional Services.

Finance and Development - aligns all programs that fund the development of affordable housing, including Low Income Housing Tax Credit programs, tax exempt and taxable bond finance programs, single family loan and Capital awards programs.

Housing Preservation - includes all the programs that maintain and enhance the state's portfolio of existing affordable housing. This includes the Office of Rent Administration, the Section 8 program, Asset Management and the Weatherization Assistance Program.

Community Renewal - includes all the programs geared toward community and economic development, job creation and downtown revitalization, including the NYS Community Development Block Grant Program, NY Main Street program, Affordable Housing Corporation, Neighborhood Stabilization Program and the Neighborhood and Rural Preservation programs.

Additionally, the office of Professional Services includes all administrative and support services, including Communications, Legal affairs, Administration, Fair Housing, Policy Development, and Accounting and Treasury.

Last Updated: 08/13/2012