Categories: Funding, New York State
01.08.2014
Regular round awards expected to be announced this spring.
NYS Homes and Community Renewal (HCR) has announced the winners of its early Unified Funding Round awards. HCR funded ten projects with a total of $9.8 million in Low Income Housing Tax Credits (LIHTC). This amount represents more than one-third of the $26 million available this year. The agency also allocated more than $12 million in funding through the Housing Trust Fund. This amount equals roughly 40% of the total amount available. The Network expects that at least $3.4 million in LIHTC awards remain to be allocated under the supportive housing set-aside during the regular round, with awards expected to be announced in the spring.
You can read the full list of awardees here.
This early round prioritized shovel-ready projects, which included supportive housing for veterans with special needs or affordable housing that reserved up to 20 percent of its units for persons with developmental disabilities. The latter projects were supported by the NYS Office for People with Development Disabilities (OPWDD).
HCR funded one supportive housing project through its priority to house veterans. Concern for Independent Living received $1.275 million in LIHTCs for its Ronkonkoma project, which will include 30 units of veteran supportive housing in a 59-unit, mixed-use project. Several Network members were also involved in other early-round projects as either developers and/or service providers: Catholic Charities of the Diocese of Albany, Dunn Development Corporation, Housing Visions, Independent Home Care and Providence Housing Development Corporation.
We would like to congratulate all of our members who were successful in this year’s early round process.