Breaking Ground is the largest developer and manager of permanent supportive housing in New York State. Since our founding in 1990, we have established an exceptional demonstrated expertise in the marketing, lease-up, and ongoing quality assurance and compliance for projects financed through the federal Low income Housing Tax Credit (LIHTC) program. Breaking Ground owns and/or manages 18 permanent residences in New York and Connecticut, with a combined total of more than 3,500 units of housing.
Our team consists of knowledgeable, organized, and resourceful professionals dedicated to providing responsive customer service and timely outcomes. Staff is certified and receives regular ongoing trainings on LIHTC compliance.
We have more than two decades of experience in marketing, tenant selection, and LIHTC compliance for new projects, as well as managing annual compliance and income recertification for existing multi-family residences. Since 2010 alone we have opened 13 new multifamily buildings, representing more than 1,600 units of supportive and affordable housing. In addition, we regularly manage the lottery and lease-up process for both for-profit and non-profit operated companies, representing thousands of units in projects across New York City. These projects are all funded with a variety and different mix of government agency support, including the NYC Department of Housing Preservation and Development (HPD), NYC Housing Development Corporation (HDC) and NYS Housing Finance Agency (HFA). Our work on all lease-up and compliance assignments has consistently been completed on schedule, on budget, and without concern to either client or regulatory agency.
Marketing & Lease Up
- Create and implement marketing plans and advertising campaigns as required by regulatory agencies, including setting income and rent guidelines.
- Assemble, distribute and process tenant application materials.
- Outreach to public and local community groups and respond to inquiries.
- Develop and implement rental policies and procedures in accordance with the applicable LIHTC Qualified Allocation Plan, Fair Housing Law, and regulatory agreements.
- Coordinate and oversee housing lotteries.
- Calculate income/assets, conduct interviews and perform background checks.
- Operate and maintain a database for recording requests, tracking distribution, receipt and status of each application.
- Prepare leases and coordinate tenant move-ins.
- Provide reports and supporting documentation as required by investors and regulatory agencies.
Ongoing Quality Assurance & Compliance
- Review new income certifications and leases for tax credit compliance, including tracking next available unit rule and applicable fractions.
- Prepare and submit documents to auditors.
- Oversee annual New York State Department of Housing and Community Renewal (DHCR) registration, LIHTC and subsidy recertification and lease renewals.
Each building is financed with a different mix of funding sources. As a result, Breaking Ground has experience working with the following agencies:
- Federal Home Loan Bank
- NYC Department of Housing Preservation and Development (HPD)
- NYC Housing Development Corporation (HDC)
- NYS Homes and Community Renewal (HCR)/NYS Housing Finance Agency (HFA)
- NYS Office of Temporary and Disability Assistance (OTDA)
- US Department of Housing and Urban Development (HUD)
Tax Credit Syndicators & Investors
- Boston Financial Investment Management
- Capital One
- Hudson Housing Capital
- JP Morgan Chase
- Richman Housing Resources
- Wells Fargo Bank
GET IN TOUCH
Interested in our services? Please send us an email with the details of your project and one of our in-house experts will get back to you shortly.