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 Spring 2021 HCR Multifamily Finance (9%) RFP, the anticipated funding for this program is $40 million.
- HTF is frequently used as a subsidy for 9% LIHTC projects, but occasionally funds.
For More Information
Read the Spring 2021 Term Sheet here.
Contact
Darren Scott, Upstate Director of Development East
(518) 795-5016
darren.scott@nyshcr.org
Leonard Skrill, Upstate Director of Development West
(518) 461-6591
leonard.skrill@nyshcr.org
Ayanna Wayner, Downstate Director of Development
(212) 872-0506
ayanna.wayner@nyshcr.org
Last updated: 08/16/2021