Agency Mission

The Housing Finance Agency (HFA) administers rent subsidies to approximately 380 low-to-moderate income tenants statewide, provides funding to repair construction defects at eight state financed housing projects and provides mortgage financing for mobile home tenant cooperatives to purchase their mobile home parks. In addition, HFA also provides taxable and tax-exempt financing to construct affordable housing under the Secured Loan Housing Construction Financing program.

Year-to-Year Change

On an All Funds basis, the Aid to Localities appropriations decreased by $15,000, reflecting a decline in low income elderly tenants receiving rent subsidies in State Fiscal Year (SFY) 1999-00.

Legislative Changes

The Assembly makes no changes to the Executive's proposal.