Furman Center Fall Speaker Series: Tinru Lin and Ellen Duffy

Please join the NYU Furman Center for a lunchtime presentation:

New York City Housing Development Corporation and Housing Bond Financing
with

Ellen K. Duffy & Tinru Lin
New York City Housing Development Corporation

Thursday, August 15, 2024 

12:00 - 1:30 p.m. E.T.

Location: Vanderbilt Hall, Room 202

40 Washington Square S, New York, NY 10012

Please note that in-person seating is limited. 

A light lunch will be served at noon. The presentation will begin at 12:30.

There is an option to join remotely.

This event is open to members of the NYU community. Please register using the RSVP link here. Join via Zoom here.

The New York City Housing Development Corporation (NYCHDC) is a public benefit corporation established in 1971 under State laws to finance affordable multi-family housing for low, moderate, and middle-income New Yorkers to increase the housing supply, stimulate economic growth, and revitalize neighborhoods. The creation of the “Open Resolution” in 1993, one of the first of its kind created for a multi-family housing portfolio as a pooled-financing bonding tool, equipped HDC with new financial resources and lending capabilities that helped grow HDC’s balance sheet to become the largest multi-family housing bond issuer and the country’s leading housing finance agency. Mayor Eric Adams’ Housing Our Neighbors plan takes a unified approach to tackle the City’s affordable housing crisis by tying together the work among various agencies including NYCHA, further expanding HDC’s financing portfolio to include the preservation of public housing via "PACT" (Permanent Affordability Commitment Together) and the "Trust Mod Program" (the preservation program undertaken by the newly created Public Housing Preservation Trust).

At the core of NYCHDC, the Capital Markets team strives to continue providing innovative and efficient financing solutions to tackle the housing affordability challenges facing New Yorkers. Two key members of HDC’s Capital Markets team, Ellen K. Duffy and Tinru Lin, will provide an overview of HDC’s role, a primer on housing bond financing, and pivotal financing tools that enable HDC to meet the ever-growing affordable housing needs in NYC.

About the Presenters:

Ellen Duffy was appointed to Executive Vice President in 2021. She joined the New York City Housing Development Corporation as Senior Vice President for Debt Issuance and Finance in 2009. In her role, Ms. Duffy is responsible for structuring and executing all the Corporation’s debt issuance as well as overseeing the cash management, investment, mortgage operations, and construction loan servicing functions for the Corporation. To date she has executed over $24.5 billion of innovative tax-exempt and taxable affordable housing bond financings. Prior to joining the NYCHDC, Ms. Duffy was a Principal in the Housing Finance group at Bank of America Securities where she focused on the quantitative structuring of transactions and cash flow analysis for state and local housing issuers. Ms. Duffy previously held positions in the Public Finance Departments at CS First Boston, First Union Securities and Citicorp Investment Bank. Ms. Duffy holds a B.A. in Economics from Providence College.

Tinru Lin is a Senior Vice President in the Capital Markets group at New York City Housing Development Corporation, the largest multi-family housing bond issuer in the nation. She joined HDC in 2009 after completing her graduate degree from The Milano School of Urban Policy and Management at New School University. At HDC, Tinru focuses on program design, transaction structuring and quantitative analysis for efficient and effective financing solutions to address the City’s affordable housing challenges. Prior to HDC, Tinru received a Bachelor of Laws degree from National Taiwan University and worked at the law firm LCS & Partners in areas including securitization and project finance.