New York State Housing Finance Agency - 1972 dated $5,000 Mental Hygiene Improvement Bond
Inv# NY1011A Bond
$5,000 7% Mental Hygiene Improvement Bond printed by Security-Columbian Banknote Company. The New York State Housing Finance Agency (HFA) is a New York State public-benefit corporation created in 1960 to build and preserve affordable multifamily rental housing throughout New York State. HFA sells bonds and uses the proceeds to make mortgages to affordable housing developers.
The Housing Trust Fund Corporation (HTFC) focuses on the broader goal of affordable housing development and tends to concentrate on rental housing, the Affordable Housing Corporation (AHC) works to promote affordable homeownership, and the Homeless Housing and Assistance Corporation (HHAC) concentrates specifically on providing housing solutions for homeless populations. They focus on funding for organizations, while the separate State of New York Mortgage Agency (SONYMA) offers affordable mortgage products directly to homebuyers.
Developers can take advantage of several financing resources when they obtain HFA financing. These include the All Affordable Housing Program for developments in which 100% of the units are affordable; the Mitchell Lama Rehabilitation and Preservation (RAP) program, which helps renovate state-financed Mitchell Lama projects; and the 80/20 New Construction Housing Program, which provides financing for rental projects where at least 20% of the units are set aside for low-income tenants. Read more at https://en.wikipedia.org/wiki/New_York_State_Housing_Finance_Agency
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
Ebay ID: labarre_galleries