New York State Homes and Community Renewal has released its summer Multifamily Finance Request for Proposals (RFP). This includes 9% Low Income Housing Tax Credits (LIHTC) and other capital resources.
Supportive housing continues to be a priority in this RFP and up to $3 million in LIHTC is set aside for supportive housing projects. HCR defines supportive housing as projects in which at least 50% of the units are matched with services and operating funds available through the Empire State Supportive Housing Initiative or other sources.
Capital sources available this round include:
- Supportive Housing Opportunity Program (SHOP) $23 million
- HOME funds, prioritized to supportive housing $10 million
- Federal Housing Trust Fund, $13 million
The deadline for application is August 29, 2021
A webinar will be made available on July 14, 2021
The RFP is available here