Status: Available
Type
Capital, Pre-development/Acquisition
Source
State
Procurement Agency
NYS HCR
Summary
Housing Trust Fund (HTF) provides financing assistance residential housing including new construction, rehabilitation and preservation. It is available through the Multifamily Finance (9%) program
Tenant Eligibility Criteria
HTF funding can only be used for households with income up to 90% AMI outside of NYC; up to 80% in NYC.
Eligible Applicants
Nonprofit or for-profit developers are eligible to apply.
Amount
Per unit maximum award up to $125,000 per unit, to a maximum of $2.4 million per project. Refer to the 2020 New York State Annual Action Plan for the maximum award per residential FHTF unit, which varies by geography and unit size.
Term
Minimum 30-year regulatory agreement.
Network Notes
-
Per the Summer 2020 HCR Multifamily Finance (9%) RFP, the anticipated funding for this program is $15 million.
- Approximately $42 million in HTF is available in the 2019 Multifamily Financing RFP is only available for site-specific multifamily rental housing.
- HTF is frequently used as a subsidy for 9% LIHTC projects, but occasionally funds.
For More Information
Read the Summer 2020 HCR Multifamily Finance (9%) RFP here.
Contact
Eastern New York Regional Office
Hampton Plaza, 38-40 State Street, 6th Floor
Albany, New York, 12207
Darren Scott, Upstate Development Director East: (518) 795-5016
Darren.scott@nyshcr.org
Western & Central New York Regional Office
535 Washington Avenue, Suite 105
Buffalo, New York 14203
Leonard Skrill, Upstate Development Director West and Downstate: (518) 461-6591
Leonard.skrill@nyshcr.org
Last updated: 07/20/2020