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NYS HOME Investment Partnership Program

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Status: Available

Type

Capital

Source

Federal

Procurement Agency

NYS HCR

Summary

The NYS HCR HOME program will fund hard costs and acquisition related soft costs for permanent supportive housing and affordable housing. It is available through the Multifamily Finance 9% LIHTC RFP.

Tenant Eligibility Criteria

HOME rental projects must serve households with incomes at or below 60% of area median income (AMI). There are scoring incentives for projects in which 15% or more of the units are set aside for special needs populations including homeless, mentally ill, substance abuse, domestic violence and physically disabled individuals and families.

Eligible Applicants

Nonprofit and for-profit developers are eligible to apply.

Amount

The HCR Multifamily Finance 9% Application Reference Materials detail the maximum award per HOME unit, which varies by unit size: 

Studio: $159,753    
One Bedroom:  $183,132
Two Bedroom:  $222,693
Three Bedroom: $288,093
Four Bedroom:  $316,236

Term

The project must remain in service for a minimum term of 30 years, up to 50 years.

Network Notes

Counties Served: Albany, Clinton, Columbia, Dutchess, Essex, Franklin, Fulton, Greene, Hamilton, Herkimer, Jefferson, Lewis, Montgomery, Orange, Oneida, Otsego, Putnam, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, St. Lawrence, Sullivan, Ulster, Warren, Washington, and Westchester

For More Information

See HCR's Term Sheet here.

Contact

Multifamily Finance (9%) RFP Contacts:

Darren Scott, Upstate Director of Development East
(518) 795-5016
darren.scott@nyshcr.org

Leonard Skrill, Upstate Director of Development West and Downstate
(518) 461-6591
leonard.skrill@nyshcr.org 

Last updated: 11/04/2022

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