The New York City Housing Development Corporation (HDC) is a public benefit corporation that was created in 1971 to finance affordable housing in New York City. HDC provides a variety of financing programs to developers of affordable housing, including tax-exempt bonds, low-interest loans, and subsidies. The corporation is governed by a board of directors appointed by the mayor of New York City, and its mission is to create and preserve affordable housing for low- and moderate-income New Yorkers. HDC has financed the construction or preservation of over 200,000 units of affordable housing in New York City.