Preserve Affordable
Homeownership.
Protect HDFCs.
Pass Bill S880/A2707.

We are the HDFC Coalition, 100,000+ homeowners fighting to save our homes, rebuilt with our sweat and savings. The DAMP tax break, vital for affordability, expires in 2029. Without it, low- and moderate-income New Yorkers face disenfranchisement and displacement.

No decisions about us without us! After several failed attempts to enact unconstitutional legislation that would take away our property rights, HPD and its non-profit allies are pushing a toxic regulatory agreement, dangling the DAMP extension as bait. It’s a trap—sign it or not, HDFCs face financial ruin and displacement, handing our homes to developers.

Say NO! Join 100,000 predominantly minority HDFC homeowners to demand fair and sustainable housing policy. Stand against the City’s plan to displace us from our homes. Fight with us to stop predatory developers and non-profits!

Learn More about the HPD/UHAB Proposed Regulatory Agreement.

What is the Jackson-Taylor Housing Development Fund Company Self-Determination, Preservation And Affordability Act, S880/A2707?

This bill secures a stable, affordable future for HDFCs with a clearly defined, meaningful tax break that will help keep HDFCs affordable. The bill gives HDFCs a permanent tax break in exchange for restricting sales to buyers with lower incomes, and makes sure that the City can’t force us to sign a suffocating Regulatory Agreement just to get the tax break to which we are legally entitled. S880/A2707 helps make sure that HDFC co-ops remain affordable for the people who live in them for generations to come and for prospective buyers, and it prevents predatory non-profits from enriching themselves at our expense.

HDFCs Are Under Threat. Here’s Why That Matters:

• Affordability: Without the protections in this bill, the real estate taxes for HDFC co-ops will skyrocket – many HDFC homeowners will be unable to pay the costs, and HDFCs will be unable to get financing to address the operational and capital improvement needs of their buildings: fix the roof, replace the boiler, put in new windows, point the facade, or upgrade the elevator. The bill provides permanent clarity, stability, and justice.

• Preservation: The Jackson-Taylor bill secures the long-term economic viability of HDFCs by creating a permanent tax exemption. This simple and workable regulatory framework strengthens HDFCs’ access to financing, prevents unaffordable maintenance increases, and ensures that buildings remain both affordable and financially self-sustaining for generations to come. Otherwise, long-term homeowners—including many seniors and minorities—risk losing their hard-earned generational wealth to City-sponsored foreclosures.

• Fundamental Fairness: HDFC homeowners bought apartments in buildings that no one else wanted — abandoned, tax-foreclosed shells that the City couldn’t give away in the 1970s and 80s. These residents invested their life savings and countless hours of sweat equity to make those buildings livable, stable, and thriving. They turned liabilities into community assets — without ongoing government subsidies, using their own savings, volunteer labor, and perseverance. Now, decades later, it would be fundamentally unjust for the City to undermine their achievements through punitive regulations or the loss of promised tax benefits. The Jackson–Taylor bill restores fairness by honoring the City’s original commitments and ensuring that HDFC homeowners — who rescued these properties and preserved affordable housing through their own effort — are treated with the respect and stability they have earned.

• Self-Determination: This bill ensures that HDFC shareholders maintain control of their own buildings. No city agency or non-profit telling you who can live in your building and making you pay for its services. No outside monitors that HDFC homeowners will have to pay for, no forced regulatory agreements that impose a host of unfair and unnecessary regulations. The bill provides permanent clarity, stability, and justice.

HDFCs are not luxury condos.
They are lifelines for working-class New Yorkers.

How Can You Help

Frequently Asked Questions

Help Us Win This Fight

Your donation supports legal advocacy, resident organizing, media campaigns, and grassroots outreach to protect HDFCs for the next generation.

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Note: All funds are used to support public education, advocacy, and organizing around HDFC preservation in New York City. The HDFC Coalition is a volunteer organization. No funds are used to pay members.

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