PERSONS/FIRMS SPONSORING THE CONSTRUCTION AND/OR REHABILITATION OF AFFORDABLE HOUSING FOR LOW, MODERATE AND MIDDLE-INCOME PERSONS/HOUSEHOLDS

DESCRIPTION:

New York State Homes and Community Renewal (HCR) announces the availability of funding under the Low-Income Housing Trust Fund Program (HTF); Community Investment Fund Program (CIF); Supportive Housing Opportunity Program (SHOP); Public Housing Preservation Program (PHP); Middle Income Housing Program (MIHP); Housing Development Fund Program (HDF); federal Housing Trust Fund (FHTF); Senior Housing Program (SENR); and, HOME Program (HOME).

HCR also announces the availability of tax credits under the federal Low-Income Housing Tax Credit Program (LIHTC) and New York State Low-Income Housing Tax Credit Program (SLIHC).

The Summer 2021 HCR Multifamily Finance 9% Request for Proposals (RFP) for site-specific multi-family project applications seeking funding under these programs was made available on July 1, 2021. The RFP and application materials, including application submission instructions, is available on the HCR website at https://hcr.ny.gov/multifamily.

APPLICATION DEADLINES:

There is one Summer 2021 application deadline. Applications for Summer 2021 projects must be completed and submitted by 11:59 PM on August 26, 2021.

A $3,000 application fee is required for each LIHTC or SLIHC application with the following exception: not-for-profit applicants (or their wholly-owned subsidiaries) that will be sole general partner of the partnership/project owner or sole managing member of the limited liability company/project owner may request a deferral of payment until the time of credit allocation.

SUMMER 2021 FUNDS AVAILABLE:

Approximately up to $40 million in HTF funds; $4 million in CIF funds; $23 million in SHOP funds; $15 million in PHP funds; $10 million in MIHP funds; $5 million in HDF funds; $13 million in FHTF funds; $6 million in SENR funds; and, $10 million in HOME funds, subject to availability of appropriations. HCR expects to have approximately up to $16 million available for LIHTC reservations. HCR also expects to have approximately up to $2 million available for SLIHC reservations.

APPLICATION WEBINAR:

HCR will hold an application webinar that will include a presentation of project application requirements and process. Details for the application webinar will be provided on the HCR website at https://hcr.ny.gov/multifamily