HCR's Multifamily Preservation Program (MPP) provides financing for the preservation and improvement of rental properties located throughout New York State. It is available through the Multifamily Finance 4% program.
Tenant Eligibility Criteria
MPP funding can be used for households earning up to 80% AMI.
Nonprofit and for-profit developers are eligible to apply. Properties currently supervised or otherwise regulated by HCR are a priority.
$70,000 limit per income-restricted unit.
Minimum 40-year regulatory agreement.
- Not currently available in the 9% LIHTC round of funding.
For More Information
See the Multifamily Finance 4% program materials here.
See the MPP term sheet here.
New York State Homes and Community Renewal
Last updated: 11/04/2022