NYC HPD New Construction Down Payment RFQ
On December 5, 2018 HPD released its New Construction Down Payment Request for Qualifications (RFQ). Applications will be accepted until January 11, 2019. Through this RFQ, HPD seeks to establish a list of Qualified Applicants that HPD designates as qualified to apply for down payment assistance from private down payment assistance lenders, such as the Down Payment Assistance Fund, to support the acquisition of privately-owned land or vacant properties in NYC in order to develop affordable multifamily rental housing.
Qualified Applicants must be strong and experienced nonprofit organizations with interest and demonstrated capacity to maintain the long-term physical and financial viability, regulatory compliance, and responsible ownership of affordable housing.
Applicants qualified through the RFQ wishing to apply for down payment assistance funding will be subject to the applicable lender’s application, underwriting and credit approval processes. For example, applicants to the NYC Down Payment Assistance Fund must meet the requirements of a Notice of Funding Availability in order to be eligible for down payment assistance.
Wednesday, December 12: Pre-Submission Conference from 12:30pm to 2:00pm at HPD, 100 Gold Street, Room 8F-14. RSVP here.
Friday, December 14: All Questions Due to HPD
Friday, January 11: Proposal Deadline
Friday, March 1: List of Qualified Applicants released
Applicants should direct all communications and inquiries regarding this RFQ to HPD at: DownPaymentAssistanceRFQ@hpd.nyc.gov
Find information on the Down Payment Assistance fund, including Notice of Funding Availability and Term Sheet on their website.
See the Down Payment Assistance Fund and other funding opportunities on the Network’s Funding Guide.