On November 17th, New York State Homes and Community Renewal (HCR) released a Request for Proposals (RFP) that consolidates the availability of funding for HCR’s Multifamily Programs. These programs support affordable rental housing for low-to-moderate income individuals and families as part of Governor Cuomo’s five-year plan to combat homelessness and advance the construction and preservation of affordable housing in New York State. Awards include 9% Low-Income Housing Tax Credits and subsidy financing to sponsors proposing affordable and supportive multifamily housing projects. Projects may include new construction, rehabilitation, and/or adaptive reuse of site-specific projects that provide multifamily rental housing. Funding is not available for projects proposing to use tax-exempt bond financing.
Applications are due on January 13, 2021. Applicants must submit Design Waivers by December 14th.
The deadline to request a TA session, submit a Design Unit occupied rehabilitation package, and/or submit the LIHTC/SLIHC fee deferral is December 1st. There will also be a webinar for applicants held on December 1st. Questions may be submitted to 9%RFP@nyshcr.org. Answers to questions will be posted here.
A summary of the RFP can be found here. The full RFP is available here.