HCR's MIHP provides gap financing to developments funded by the Supportive Housing Opportunity Program (SHOP) and New Construction Capital Program (NCP).
Tenant Eligibility Criteria
Households with income up to 130% AMI.
Nonprofit and for-profit developers are eligible to apply. Program priorities are:
- Provide housing opportunities in high economic growth areas and/or areas served by high-performing school districts.
- Encourage middle income households to live in economically challenged areas.
- Stabilize neighborhoods that are between economically vibrant and economically challenged communities.
Per-Residential Unit Maximum Award for the Multifamily Open Window:
- New York City and Westchester, Nassau & Suffolk Counties: Up to $140,000
- Rest of State: Up to $95,000
Per-Residential Unit Maximum Award for the Unified Funding Round: Up to $200,000
- Per the Spring 2021 HCR Multifamily Finance (9%) RFP, the anticipated funding for this program is $10 million.
- Up to $40 million is available in SFY 2018-19 through HCR's Multifamily Open Window RFP. Approximately $16 million in funding is also available through the Unified Funding RFP.
- No more than 50% of total annual awards may be awarded to a single municipality.
For More Information
Read the Spring 2021 RFP here.
Darren Scott, Upstate Director of Development East
Leonard Skrill, Upstate Director of Development West
Ayanna Wayner, Downstate Director of Development
Last updated: 08/16/2021