NYCP OPERATES WITH RESPECT TO CONTRACTING HOME OWNERSHIP AND AFFORDABLE HOUSING SITES. NYCP EXECUTES CONTRACTS WITH GOVERNMENT ENTITIES FOR APPLICATION OF PUBLIC FUNDS ("SUBSIDIES") TO SITE DEVELOPMENT ACTIVITIES AND HOLDS TITLE TO DEVELOPMENT SITES IN ORDER TO PASS ALONG THE BENEFITS OF ITS TAX-EXEMPT STATUS TO THE PROJECTS, THUS LOWERING THE COST OF CONSTRUCTION AND ENABLING THE COMPLETED HOMES TO BE PRICED LOWER FOR THE BENEFIT OF THE TARGET POPULATION.