Long Island Partnership Housing Development Fund Company

In 2023, Long Island Partnership Housing Development Fund Company, Inc. (liphdfc) completed and transferred 3 home units to homebuyers in suffolk county. These homebuyers were individuals who met the income eligibility requirements and would not otherwise have been able to afford a new home in the market place. In addition, multiple other properties were under construction during the year. The land upon which these 3 home units were built was transferred to an affiliate entity of liphdfc, Long Island Partnership clt Housing Development Fund Company, Inc. (lipclt). Lipclt was established with the intent of acquiring and developing or rehabilitating multiple parcels of land throughout Long Island and retaining ownership of these parcels within its land trust forever. Under its shared-equity model, lipclt retains ownership of land within its land trust and leases the land to home buyers for a renewable term of 99 years through a ground lease agreement, while the home buyers purchase and hold ownership interest in the physical structure. This allows income-eligible families to purchase homes at below-market prices, and allows the property to remain affordable in perpetuity.