Newsfeed Categories
Community CornerFundingNew York StateNew York CityFederalResearchPressMember NewsOpeningsGroundbreakingsNetwork Events
Discretionary Capital Funding Available
Jan.14.2019
Every year, Borough Presidents and City Council Members provide capital funding to nonprofits, schools, and other organizations for projects throughout each borough. This discretionary capital funding (formerly known as Reso A) is valuable subsidy for supportive and affordable housing development projects in NYC. This funding can be helpful to fill a gap in a development budget.
Starting now, nonprofits can apply for grants through the CapGrants portal or applications listed on Elected Officials’ websites. Awards are typically announced in the summer. To receive funding, applicants should schedule a meeting with the representative before submitting the application to discuss the project details. Below are the typical deadlines, though some elected officials have additional requirements and deadlines:
Borough President Requests: February 20th
City Council Requests: March 26th
Specific information for representatives can be found here:
Brooklyn Borough President: To apply to the Brooklyn Borough President’s Office for capital funding for Fiscal Year 2020, organizations must fill out an application by 11:59 pm on Wednesday, February 13, 2019. In addition, organizations should complete the CapGrants portal application by 5 pm on February 20, 2019.
Bronx Borough President: The office is currently accepting Letters of Intent for Fiscal Year 2020 and orgnaizations should send a letter as soon as possible. Organizations must apply by 5 pm on Wednesday, February 20, 2019.
Manhattan Borough President: Nonprofits can apply for grants on the city’s CapGrants portal. Organizations must apply by 5 pm on Wednesday, February 20, 2019.
Queens Borough President: Organizations are encouraged to apply as soon as possible. Organizations must apply by 5 pm on Wednesday, February 20, 2019.
Staten Island Borough President: All requests for capital funding from the Staten Island Borough President must be submitted via mail or email. Applications also should be submitted with a cover letter. The deadline to submit the SI BP’s online capital funding application is Friday, February 10th, 2019. Organizations must also apply through CapGrants by 5 pm on Wednesday, February 20, 2019.
City Council Members: Apply through the CapGrants portal by March 26, 2019.
Network Submits Comments on Community Reinvestment Act
Dec.21.2018
.jpg)
On November 19th, the Network submitted comments on the Community Reinvestment Act (CRA) regulations, in response to an Advanced Notice of Proposed Rulemaking (ANPR) issued by the Office of the Comptroller of the Currency (OCC), one of three federal entities that oversees the program. The CRA was passed in 1977 as a response to redlining, the discriminatory practice of denying investment and mortgage financing opportunities to communities of color. According to the statute, banks are required to meet the credit and deposit needs of the “communities in which they are chartered,” including low- and moderate-income (LMI) neighborhoods. Banks receive a rating based on qualitative and quantitative data in three areas: lending, services, and investment.
The Bridge Opens Doors to Maple Residence in Brooklyn
Dec.14.2018
.jpg)
Some 60 friends, funders, tenants and partners gathered on a crisp December morning to celebrate the opening of The Maple Residence- a 66 unit supportive/affordable building in the Crown Heights neighborhood of Brooklyn. Developed by The Bridge, Maple will bring 50 units of supportive housing to vulnerable New Yorkers suffering from mental illnesses, and 16 units of affordable housing to low-income families in the community.
Joint Venture Workshop Brings Together Nonprofits and Developers to Discuss Deal-Making
Dec.07.2018
Building on years of joint venture research and events, the Network hosted its first ever hands-on workshop on negotiating joint venture partnerships in supportive housing development. The event was hosted by Capitol One and facilitated by Network and Enterprise Community Partners staff members. CEOs and development professionals from 18 nonprofit organizations in New York City, as well as development partners from Bronx Pro and CSD Housing attended the morning workshop.
First Phase of Vital Brooklyn Winners Announced; Second RFP Released
Dec.06.2018
On November 29th, Governor Cuomo announced the winners for the first phase of the Vital Brooklyn RFP. The Network congratulates the winners, including Network members Services for the UnderServed (SUS), RiseBoro, CAMBA, Federation of Organizations, Apex Building Company, and MDG Design + Construction.