NEW YORK CITY-The Housing Partnership has expanded it services by taking on the role of administering agent for developers participating in the city's inclusionary housing program.
Managed by the NYC Dept. of Housing Preservation and Development, the IH program provides zoning incentives to developers constructing or substantially rehabilitating residential property who agree to designate a number of those units as permanently affordable.
“Our additional role as an administering agent for the inclusionary housing program is consistent with the Housing Partnership's tradition of improving access to affordable housing in the New York metropolitan area,” says Dan Martin, president and CEO.
As administering agent, the Housing Partnership is responsible for ensuring that the developer and the project comply with the provisions of the IH Program required in the regulatory agreement between the developer and HPD, as it relates to the occupancy of the designated IH units.
“Through this unprecedented role, the Housing Partnership seeks to enhance the success of the IH program by offering our affordable housing expertise, professional staff and long-term relationship with HPD to market and lease-up or sell IH units in accordance with HPD approved marketing guidelines,” Martin says. In that role, the Housing Partnership will advertise and promote IH units to a broad market base, targeting apartment seekers meeting the income requirements, then review applicants to determine their eligibility for an IH unit.
In addition, the Housing Partnership will streamline and standardize the required annual reporting, lessening the compliance burdens borne by developers,” says Martin. “The Housing Partnership has over 30 years of experience reviewing applications for income-restricted housing, and with our extensive track record partnering with government agencies on myriad affordable housing programs,” he continues, “we offer this valuable expertise to developers as a third-party agent. We expect inclusionary housing in New York City to grow.”
Adds Robert Ezrapour, VP, Artimus Construction, "We are delighted that the Housing Partnership is now providing administering agent services to developers participating in New York City's inclusionary housing program. We have worked closely with the Housing Partnership over the years and we know we can rely on its experience and expertise in helping us comply with the requirements of the IH program as our new units come available.
“This is a valuable program,” he asserts, “that plays an important role in the development of affordable housing in the City."
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
