Limited Equity Housing Programs in NYC: The Development of a Resource Guide for Community Board 10

In the late 1970s and early 1980s, New York City created an affordable program through which organized tenant associations could acquire their buildings through a cooperative ownership structure. There are over 1,100 of these limited equity cooperatives in NYC, known as Housing Development Fund Corporations (HDFC). While the program has had success over the years, many buildings are currently struggling to function as they once did. Many HDFC residents in central Harlem look to their community board (CB10) in times of duress, yet CB10 is not always equipped to respond. It is CB10's goal to provide enough support so that HDFC buildings can remain self-sufficient and continue to be a viable mechanism for affordable housing in the future. Through interviews with residents and stakeholders, town hall meetings, and community research, the Capstone team worked with CB10 to gain a better understanding of the challenges facing HDFC buildings in their community district. The Capstone team created a resource guide to assist HDFCs in their operations and devised a plan for CB10 to serve these residents more effectively.