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Obtaining a NYCEEC Green Predevelopment Loan is easy.
If you’ve already spoken to HPD and found out that you’re a good fit, download and complete NYCEEC’s short loan application and full term sheet here.
Established in 1978, the New York City Department of Housing Preservation and Development (HPD) promotes the quality and affordability of the city’s housing and the strength and diversity of its many neighborhoods. HPD works with non-profit and for-profit building owners to maintain affordability and provides financing for rehabilitation and energy-efficiency updates.
HPD offers rehabilitation loans through several preservation programs. Building owners applying to or working with the following programs are eligible to apply for a NYCEEC Green Predevelopment Loan:
Green Housing Preservation Program (GHPP)
HUD Multifamily Program (HUD)
LIHTC Preservation Program (Year 15)
Multifamily Housing Rehabilitation Program (HRP)
Multifamily Preservation Loan Program (MPLP)
Neighborhood Pillars Program
Participation Loan Program (PLP)
In partnership with HPD, NYCEEC offers attractive financing for any predevelopment expenses associated with participating in one of the Eligible Programs – enabling all building owners to enjoy these programs’ benefits.
NYCEEC can finance up to $40,000 in predevelopment expenses for up to 18 months with a simple and straightforward approval process.
Eligible Expenses Include:
Integrated Physical Needs Assessment (IPNA)
Property Appraisals and Surveys
Lead and Asbestos Testing
NYCEEC Predevelopment Loan Terms
Eligible Predevelopment Activities
Fees & Interest Rates
Green Physical Needs Assessment
Other HPD program requirements
(e.g. property survey, lead and asbestos testing, engineering surveys)
Private Lender Requirements
(e.g. Phase 1 & Phase 2 Environmental Site Assessments, property appraisal, construction/permanent commitment fee)
Up to $8,000
Up to $15,000
Up to $40,000