Glossary of terms used on this siteThere are 214 entries in this glossary.
Housing Development Fund Corporation is a special type of limited equity housing cooperative in New York City which is incorporated under Article XI of the New York State Housing Finance Law. Under this law, the city of New York is able to sell buildings directly to tenant or community groups to provide low-income housing. Many HDFCs were created through a process of co-op conversion of a foreclosed, city-owned property. As of 2011, over 1,000 HDFC cooperatives have been developed in the city.