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NY State Low-Income Housing Tax Credit Program (SLIHC)

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Status: Available

Type

Capital

Source

State

Procurement Agency

NYS HCR

Summary

State Low-Income Housing Tax Credit Program (SLIHC)  is available through both the Multifamily Finance (9%) and Open Window (4%) programs. It provides a dollar-for-dollar state tax reduction for investors in qualified low-income housing. Eligible uses are new construction of or the adaptive reuse of non-residential property to, affordable housing, or substantial rehabilitation or moderate rehabilitation of site-specific multifamily rental housing. Eligible costs are for site acquisition, hard costs, and related soft costs. 

Tenant Eligibility Criteria

At least 40% of total units must be for households with income up to 90% AMI.

Eligible Applicants

Nonprofit or for-profit developers are eligible to apply.

Amount

Per Project Maximum Award: Up to $750,000 for projects with at least 10% of units targeted to households with an income limit above 60% AMI, otherwise up to $500,000.

Per Residential Unit Maximum Award: Up to $20,000 per housing unit with a household income up to 90% AMI. (In Open Window (4%) projects only)

Term

The property must remain in service for 30 years, or longer if the LIHTC period is extended.

Network Notes

For More Information

Read the 2018 Multifamily Open Window RFP here

Read the 2019 HCR Multifamily Finance (9%) RFP here.

Contact

Open Window RFP Contact:

Mark Flescher
New York State Homes and Community Renewal
(212) 872-0493
mark.flescher@nyshcr.org

Multifamily Finance (9%) RFP Contacts:

Eastern New York Regional Office
Hampton Plaza, 38-40 State Street, 6th Floor
Albany, New York, 12207
Darren Scott, Upstate Development Director East: (518) 485-7608

Darren.scott@nyshcr.org

New York City and Long Island Regional Office
25 Beaver Street, 7th Floor
New York, NY 10004
(212) 480-4543 
Maria Kolaitis, Downstate Director of Development: (212) 872-0506

Maria.kolaitis@nyshcr.org

Western & Central New York Regional Office
535 Washington Avenue, Suite 105
Buffalo, New York 14203
Leonard Skrill, Upstate Development Director (West): (716) 847-3926

Leonard.skrill@nyshcr.org

Last updated: 10/16/2019

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