NYS HCR Rural and Urban Community Investment Fund (CIF)

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Status: Available





Procurement Agency



NYS HCR's Rural and Urban Community Investment Fund (CIF) funds supports the creation, preservation, and improvement of affordable housing and the commercial, retail, and community facilities that serve the needs of affordable housing residents. CIF is available through both the Multifamily Finance 9% LIHTC RFP and the Multifamily Finance 4% program. 


New construction, adaptive reuse, or rehabilitation of multifamily rental affordable housing and mixed-use projects (both currently unregulated housing of 5 to 20 units and existing regulated housing). Only available when not used with 4% or 9% Low Income Housing Tax Credits.


New construction, adaptive reuse, or rehabilitation of a retail, commercial, or community facility component of an HCR-regulated affordable housing development

Tenant Eligibility Criteria

For both residential and non-residential uses, at least 70% of the units must have a household income limit up to 90% AMI. 

Eligible Applicants

Nonprofit and for-profit developers are eligible to apply for funding.


Per Project Maximum Award: $2 million. Up to $60,000 per housing unit for affordable housing preservation; up to $150,000 per affordable housing unit involving new construction or adaptive reuse.


There is a minimum 10-year regulatory agreement for non-residential space and a minimum 30-year regulatory term for residential units or coterminous with other HCR regulatory agreement.

Network Notes

For More Information

See the CIF term sheets, the Multifamily Finance 9% LIHTC RFP here and the

Multifamily Finance 4% program, here.


Multifamily Finance 4% LIHTC/Bond Contact:
New York State Homes and Community Renewal
(212) 872-0537

Multifamily Finance 9% LIHTC RFP Contacts:
Darren Scott, Upstate Director of Development East
(518) 795-5016

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 

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 

Counties Served: Bronx, Kings, New York, Nassau, Queens, Richmond, Rockland , Suffolk, Westchester.

Last updated: 10/03/2023

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