Contract · State & Local

Affordable Housing Insurance Program RFEI

Agency: New York City - Economic Development Corporation
Location: New York, NY
Amount: Amount not listed
Posted: Jun 24, 2026
Set-aside: None (open competition)

Timeline

Posted

Jun 24, 2026
Status

Open now

What this contract is for

Agency: New York City - Economic Development Corporation
Location: New York, NY
Scope: State & Local

Goods and Services

Solicitation

Request for Information

Solicitation/PIN: 10872

The New York City Economic Development Corporation ('NYCEDC' or 'EDC'), in coordination with the New York City Department of Housing Preservation and Development ('NYCHPD' or 'HPD') and the New York City Housing Development Corporation ('NYCHDC' or 'HDC'), is issuing this Request for Expressions of Interest ('RFEI') to solicit proposals from industry participants (each, an 'Applicant,' 'Respondent,' or 'Firm') on structuring and operating an insurance program (the 'Program') to reduce property and liability insurance costs for income-restricted affordable and rent-stabilized housing in New York City. NYCEDC anticipates committing, on behalf of the City of New York ('the City'), up to $100 million over a three-year period as a one-time funding infusion to launch and sustain the Program. The structure, use, and guardrails around the $100 million investment will be informed by responses to this RFEI, but EDC's threshold expectations are clear: the Program must deliver policy outcomes over the long run while remaining financially solvent and self-sustaining, and the City's funding must, at a minimum, be preserved, with a preference for structures that generate a financial return. The Program is expected to operate indefinitely as part of the City's affordable housing new construction and preservation system. The Program seeks to ease costs for a population of income-restricted and rent-stabilized buildings which in large part have existing legal or contractual relationships with HPD and HDC. As lenders and regulators to many of these buildings, HPD and HDC monitor their financial and physical performance and act as key partners in asset management. As a result, the City has a distinct oversight role...

Official solicitation and documents

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