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Homes and Community Renewal

2005-B-08: Housing Information and Resource Conference

To: All Assisted Housing Developmens
     Owners, Managing Agents and Site Managers

From: Jane I. Berrie, Director Housing Management Bureau

Date: March 14, 2005

Subject: Housing Information and Resource Conference

--- UPDATE ---         --- UPDATE ---         --- UPDATE ---

The Management Bureau is pleased to announce that Commissioner Judith A. Calogero will be the keynote speaker at the April 5th Luncheon for our Housing Information and Resource Conference to be held at the Sagamore Hotel. The following two Workshops have been added to the Conference Agenda:

  1. Decoupling/ refinancing in Federally Assisted Mitchell-Lama Housing Companies. Decoupling occurs when a building receiving a Section 236 interest reduction subsidy refinances and applies the same subsidy to the new mortgage. This workshop will explain the decoupling transaction, the roles of HUD and DHCR in the process, and the prospects for decoupling in Federally-Assisted Mitchell-Lama developments. A case study will be presented in which a housing company recently decoupled while remaining in the Mitchell-Lama program. The Workshop will be conducted by Stephen Wallace of Nixon Peabody LLP.

  2. Refinancing in non- Federally Assisted Mitchell-Lama Housing Companies. Many of our Mitchell-Lama housing companies may wish to: reduce their debt service in order to meet expenses with minimum rent increases; raise additional funds for current capital improvements; or bolster reserve funds for future capital improvements. This workshop will discuss Division policies, standards and procedures for processing housing company requests to refinance their mortgages. The Workshop will be conducted by Deputy Commissioner David Cabrera and Assistant Commissioner Richmond McCurnin of DHCR.

An amended Conference Flyer is attached to reflect the changes in our program. Once again, we wish to remind you that participants are responsible for making lodging arrangements directly with the Sagamore.

If you have any questions regarding this Conference, you may contact Linda Kedzierski, Federal Coordinator, at (212) 480-2021, or email her at

-Jane I. Berrie

Last updated on 06/02/10