Article IV Limited Dividend Company (Article IV)

Article IV of the New York State Limited Dividend Company Act, authorized in 1927 subsidized, 22 owner-occupied middle-income developments with an additional 10,000 apartments. This precursor to the Mitchell-Lama program sought to encourage people in low-rent accomodations to invest their savings by forming a housing company (corporation) and to protect these investments against loss and ensure a fair return.

Program Information

• Scale: Very Large Scale (over 10,000 units)
• Timeframe: Started 1927
• Occupancy Tenure: Homeownership
• Construction Type: New Construction, Rehabilitation
• Building Type: Multi-family
• Developer/Owners: For-profit
• Income: Middle-income

More Resources

Related Programs: Mitchell-Lama