The city is preparing to begin accepting applications next year from lower income homeowners looking for loans to finance property repairs.
The city's Department of Housing Preservation and Development and the nonprofit Enterprise Community Partners are expected to announce Wednesday that they are seeking a third partner to administer the forthcoming HomeFix program.
The final collaborator — which will also be a nonprofit — will be offering technical and financial assistance to homeowners, helping them with loan paperwork, processing the applications and identifying general contractors to perform the repairs, according to HPD.
HomeFix, which was announced last November, is designed to help owners of one- to four-family homes, who may struggle to acquire financing from the private market. Under the program, HPD will issue and service loans to about 150 New Yorkers annually, who earn no more than 165 percent of the metro area's median income.