Status: Available
Type
Capital
Source
State
Procurement Agency
NYS HCR
Summary
New in 2022, the Clean Energy Initiative Program (CEI) may be applied for through both the Multifamily Finance 9% LIHTC RFP and Multifamily Finance 4% program, CEI provides capital funding for owners to decarbonize affordable housing projects. There are three variations of this program: Adaptive Reuse, Existing Buildings and New Construction.
Tenant Eligibility Criteria
All LIHTC and CIF projects are eligible.
Eligible Applicants
Nonprofit and for-profit owners.
Amount
Adaptive Reuse: Up to $12,500/unit standard, up to $7,500/unit for maximum efficiency. Up to $2,500,000 /project
Existing Buildings: Up to $25,000/unit. Up to $5,625,000 /project
New Construction: Up to $5,500/unit standard, up to $7,500/unit for maximum efficiency. Up to $1,500,000/project
There is a total of $6 million available in the Fall 2022 round for this program.
Term
Minimum 30-year term, maximum 50 years.
For More Information
See the NYS HCR Multifamily 9% webpage here.
See the NYS HCR Multifamily 4% webpage here.
Contact
Multifamily Finance 4% Contact:
New York State Homes and Community Renewal
(212) 872-0537
MulifamilyFinance@nyshcr.org
Multifamily Finance 9% LIHTC RFP Contacts:
Darren Scott, Upstate Director of Development East
(518) 795-5016
darren.scott@nyshcr.org
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
Leonard Skrill, Upstate Director of Development West and Downstate
(518) 461-6591
leonard.skrill@nyshcr.org
Counties Served: Allegany, Bronx, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Cortland, Delaware, Erie, Genesee, Kings, Livingston, Madison, Monroe, Nassau, New York, Niagara, Onondaga, Ontario, Orleans, Oswego, Queens, Richmond, Schuyler, Seneca, Steuben, Suffolk, Tioga, Tompkins, Wayne, Wyoming and Yates.
Last updated: 11/04/2022