The Mitchell-Lama program was created by Senator Mitchell and Assembly Member Lama in 1955 in order to provide affordable housing to low, moderate, and middle income families in New York State. Through the program, landlords receive low interest loans, tax exemptions, and government subsidies in exchange for keeping rents affordable. Additionally, one half of the Mitchell Lama rental developments in New York City have federally subsidized mortgages through the Section 236 program. In the Mitchell-Lama program, landlords can only charge a rent that covers the operating costs of the building plus a 6% profit for the landlord – nothing higher.
Tenants & Neighbors recently produced a report on innovative solutions to Recapturing Mitchell-Lama developments.
New York City has lost over 40,000 units of affordable Mitchell-Lama rental housing in the past decade. Tenants & Neighbors has organized to preserve this precious affordable housing resource. If you have received a buy-out notice in your development, please contact Jen Berkley at JBerkley@tandn.org or 212-608-4320 ext. 311.
Mitchell-Lama Fact Sheets: