NYS HCR Multifamily Open Window RFP 2017
On June 7, 2017, HCR released its Multifamily Open Window RFP. Applications will be accepted throughout the year with a final due date of March 31, 2018. HCR has assumed a major role in supportive housing development since 2016. Office of Mental Health (OMH) capital and Medicaid Redesign Team (MRT) funding have been folded into HCR's portfolio. The Multifamily Open Window RFP includes programs that work as subsidy with 4% "as-of-right" LIHTCs, but several may be used in capital-only projects. HCR matches 4% LIHTCs with its Supportive Housing Opportunity Program (SHOP) and other subsidies to develop supportive housing projects. This RFP represents an essential piece of the governor’s plan to build 6,000 units of supportive housing in five years, and 20,000 over fifteen years.
Additionally, agencies that have been awarded Empire State Supportive Housing Initiative service and operating grants are expected to have priority for HCR funding.
This $588 million affordable housing capital funding opportunity in this RFP consists of ten different funding programs. These include:
- Supportive Housing Opportunity Program: $175 million
- New Construction Capital Program: $90 million
- Public Housing Preservation Program: $100 million
- Multifamily Preservation Program: $30 million
- Homes For Working Families: $16.7 million
- Middle Income Housing Program: $25 million
- Rural and Urban Community Investment Fund: $44.9 million
- House NY Mitchell-Lama Program: $69.2 million
- Mitchell-Lama Loan Program: $30 million
- State Low Income Housing Credit Program: $4 million
- Federal Housing Trust Fund Program: $7 million
Vice President, Multifamily Finance – New Construction
New York State Homes and Community Renewal
The RFP is available here.