The Housing Finance Agency (HFA) is a public benefit corporation that finances low and moderate income rental housing. HFA issues taxable and tax exempt bonds to provide mortgage loans to developers of mixed income and affordable rental projects. HFA also plays a role in administering housing programs supported by State and Federal appropriations.

The Agency is included in the Transportation, Economic Development, and Environmental Conservation appropriation bill.

Aid To Localities

The Executive proposes the elimination of General Fund support for the Capital Grant/Low Rent Lease Subsidy Program. This Program provides rental subsidies for approximately 144 low to moderate income individuals.