This Case is about INNOVATION, POLICY, STRATEGIC PLANNING
PUBLICATION DATE: November 03, 2009 PRODUCT #: HKS110-PDF-ENG
A Video concise that can be revealed in class or contained in a digital coursepack accompany this case. Teachers should judge the time of making the video accessible to pupils, as it may show crucial case elements. The case concludes with a short roundup of comments and performance data from the first two and a half years of business of the Fund.
The NYC Acquisition Fund was created to provide loans to not-for-profit and small-scale affordable housing developers, letting them compete with market-rate developers to purchase property in Nyc on the open market at a time of wild speculation, quickly rising prices, and intense competition.
It signified a groundbreaking attempt to use power and public sector funds, jointly with foundation capital, from private lenders to leverage hundreds of millions of dollars in loan capital. HKS Instance Number 1907.0.