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9% HPD LIHTC

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Status: Available

Type

Capital

Source

New York City

Procurement Agency

NYC HPD

Summary

HPD 9% LIHTC is a major source of equity for the permanent financing of supportive housing development and is allocated competitively.

The application deadline for the 2021 round of credits was October 19, 2021.

Tenant Eligibility Criteria

Low-income households making up to 80% Area Median Income (AMI).  Please see below for additional tenant income restrictions.  HPD can also prioritize funding for certain populations (or other factors) as detailed in their Qualified Allocation Plan (QAP).  

Eligible Applicants

Nonprofit or for-profit developers of affordable housing, including permanent supportive housing.

Owners must adhere to the income averaging policy:

Applicants can read the complete income averaging policy here.

Amount

HPD allocated a total of $15.6 million for tax credit year 2021. HPD's awards ranged from $702,000 to $2,507,544.

Term

Owners of 9% projects must enter into a minimum 30-year regulatory agreement with HPD.

Network Notes

For More Information

See HPD's website

Please see here for the FAQ.

Contact

  • Developers seeking eligibility information should contact: Christina Duran, Executive Director of LIHTC Allocations - (212) 863-5184
  • Developers seeking compliance information should contact: Peter Donohue, Director of LIHTC Compliance - (212) 863-7371
  • For supportive housing specific questions, contact: Ross Karp, Deputy Director, Supportive Housing Loan Program - (212) 863-8009 

Last updated: 04/27/2022

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