Status: Available
Type
Capital, Pre-development/Acquisition
Source
State
Procurement Agency
NYS HCR
Summary
The Low-Income Housing Trust Fund (HTF) provides financing assistance for residential housing including new construction, rehabilitation and preservation. It is available through the Multifamily Finance 9% LIHTC RFP.
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 $115,000 per unit in NYC, Nassau, Suffolk, Westchester and Rockland. $100,000/per unit in the rest of NYS.
Per project maximum in NYC, Nassau, Suffolk, Westchester and Rockland is 8,500,000 and $6,500,000 in rest of NYS.
Term
Minimum 30-year regulatory agreement., Maximum 40-year regulatory agreement.
Network Notes
- Per the Fall 2024 HCR Multifamily Finance (9%) RFP, the anticipated funding for this program is $42 million for this latest round.
- HTF may not be paired with SHOP funding.
- HTF is frequently used as a subsidy for 9% LIHTC projects, but occasionally funds a capital only project.
- The HTF program is not the same as the Federal Housing Trust Fund.
For More Information
Read the Fall 2024 HCR Multifamily 9% Low Income Housing Trust Fund Term Sheet here.
Contact
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, Saratoga, Schenectady, Schoharie, St. Lawrence, Sullivan, Ulster, Warren and Washington.
Leonard Skrill, Upstate Director of Development West
(518) 461-6591
leonard.skrill@nyshcr.org
Counties Served: Allegany, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Cortland, Delaware, Erie, Genesee, Livingston, Madison, Monroe, Niagara, Onondaga, Ontario, Orleans, Oswego, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne, Wyoming and Yates.
Ross Karp, Downstate Development Director
(212) 872-0395
Last updated: 08/08/2024