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NYC HPD 9% Low-Income Housing Tax Credits

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Status: Closed

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.

Tenant Eligibility Criteria

Low-income households making up to 60% Area Median Income (AMI). Additionally, HPD can prioritize funding for certain populations (or other factors) in their Qualified Allocation Plan (QAP).  

Eligible Applicants

Nonprofit or for-profit developers of affordable housing, including permanent supportive housing in which either:

  1. At least 20% of the units are occupied by households at or below 50% of the area median income (AMI) or
  2. At least 25% of the units are occupied by households with incomes at or below 60% of the AMI.

Amount

HPD allocated a total of $18.1 million for tax credit year 2018. HPD's awards ranged from $402,954 to $3,297,000. 

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.

Contact

  • Developers seeking eligibility information should contact: Christina Duran, 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: Theresa Cassano, Director, Supportive Housing Loan Program - (212) 863-8009

Last updated: 08/26/2019

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