Founded in 1987, the New York City Department of Housing Preservation and Development is one of the largest municipal developers of affordable housing in the United States. The department offers opportunities for developers to construct homes and apartments. It provides a range of low-cost financing options for new construction on privately owned vacant and underutilized sites and assists with acquisition and predevelopment costs. The New York City Department of Housing Preservation and Development also offers tax incentive programs for property owners. The department provides courses to help owners with credit counseling, budgeting, foreclosure prevention, home maintenance and repair. It works with government organizations, community and nonprofit to strengthen neighborhoods.