Volume Cap explained in video
Over 49,000 units of affordable hosing were financed using tax-exempt private activity bonds in New York City between 2005 and 2013. It is a critical resource for the development of affordable housing in our city, yet one that remains a bit of a mystery for many in the development community.
CHPC’s study Pump Up The Volume took the first deep look at the use of tax-exempt private activity bonds and proposed a series of recommendations to improve the allocation of bonds to support housing development. For those who just need of a simple explanation on what are tax-exempt private activity bonds and what is the volume cap, CHPC has put together this video to answer these basic questions.