NYCHA Announces Receipt of $44 Million in Low-Income Housing Tax Credit Equity

New York, NY – September 14, 2012 – (RealEstateRama) — NYCHA Chairman John B. Rhea announced the recent receipt of $44 million in low-income housing tax credit equity payments associated with NYCHA’s Federalization transaction. The purpose of the Federalization transactions was to make necessary repairs to the portfolio of 21 housing developments while also securing an additional $65-75 million in recurring annual federal operating and capital subsidies for 11,743 apartments at 13 of the 21 sites.