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Federal Housing Trust Fund (Federal HTF)

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Status: Available

Type

Capital, Pre-development/Acquisition

Source

Federal

Procurement Agency

NYS HCR

Summary

Federal Housing Trust Fund (FHTF) provides financing assistance for development acquisition, hard, and related soft costs, and operating cost assistance/reserves in projects that serve extremely low-income households.

Tenant Eligibility Criteria

HTF funding can only be used for households with income up to 30% AMI. Other City and State programs may be used to fund other levels of affordability within the project.  It is expected that projects will have a mix of income levels.  At least 50% of the total units in the project must be affordable to households with incomes up to 60% AMI.I.

Eligible Applicants

Nonprofit or for-profit developers are eligible to apply.

Amount

Refer to the New York State Annual Action Plan for the maximum award per residential FHTF unit, which varies by building type and unit size. 

Term

Minimum 30-year, maximum 50 year regulatory agreement.

Network Notes

For More Information

Read the 2022 HCR Term Sheet here.

Contact

Open Window RFP Contact:

New York State Homes and Community Renewal

(212) 872-0537

MulifamilyFinance@nyshcr.org

Multifamily Finance (9%) RFP Contacts:

Darren Scott, Upstate Director of Development East

(518) 795-5016

darren.scott@nyshcr.org

Last updated: 02/27/2022

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