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), Housing Choice Project Based Voucher Program, and the federal Housing Trust Fund (FHTF).

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

A fall 2019 Request for Proposals (RFP) for site-specific multi-family project applications seeking funding under these programs is expected to be available on or about October 4, 2019. The RFP and application materials, including application submission instructions, will be available on the HCR website at https://hcr.ny.gov/multifamily.

APPLICATION DEADLINES:

There are two fall 2019 application deadlines. The first deadline will be for Early Award projects (EA) that meet criteria set forth in the RFP. The second deadline will be for all other applications.

Applications for EA Projects must be completed and submitted by 3:00 PM on November 15, 2019. All other fall 2019 applications must be completed and submitted by 3:00 PM on December 13, 2019.

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.

FALL 2019 FUNDS AVAILABLE:

Approximately up to $42 million in HTF funds; $3 million in CIF funds; $30 million in SHOP funds; $7 million in PHP funds; $7 million in MIHP funds; $5 million in HDF funds; and $15 million in FHTF funds are available, subject to availability of appropriations. HCR expects to have approximately up to $28 million available for LIHTC reservations. HCR also expects to have approximately up to $3 million available for SLIHC reservations. Approximately 34 Housing Choice Project Based Vouchers will be available. Such applications will be considered within overall review of project funding requests. Applications requesting only Housing Choice Project Based Voucher assistance will not be considered.

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 at the time of the release of the RFP.