Formation of the Cooper Square Mutual Housing Association II Housing Development Fund Company (HDFC), Inc.

The MHA II was formed in April, 1995, for the following purpose:

  • in order to acquire the land and buildings from the City, the CLT or other grantors for its corporate purposes.
  • To convey all of the land portion of “the Project” to the CLT, and to lease back such land from the CLT on a long term basis, as reflected in the lease.
  • To lease dwelling accommodations in the Project to eligible persons and families of low income in accordance with HPD’s conveyancing documents and financing documents, and to issue such tenants proprietary leases.

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Managing low-income co-ops in NYC's Lower East Side