HCR Announces Unified Funding for Housing Programs
The New York State Division of Housing and Community Renewal (DHCR) announced on the July 24 NYS Register the 2013 United Funding Request For Proposals (RFP) for a variety of state funded housing programs.
The HCR funding includes the Tax Credit Available Under the Low-Income Housing Credit Program (LIHC); Low-Income Housing Trust Fund Program; New York State HOME Program; Rural Area Revitalization Projects Program; Urban Initiatives Program; and Community Investment Fund; and the New York State Low-Income Housing Tax Credit Program (SLIHC).
These Applications must be submitted using the Community Development Online (CDOL) Application System, located on: HCR’s website.
This year’s funding round will have two application deadlines. The first deadline will be for Early Award Projects, which meet criteria that will be set forth in the RFP. The second deadline will be for all other capital applications.
Applications for Early Award Projects must be completed and submitted by 5 p.m. on Thurs., Oct. 10, 2013. All other Unified Funding 2013 Capital Applications must be completed and submitted by 5 p.m. on Thurs., Dec. 5, 2013.
United Funding application workshops will be offered in Rochester, Albany and New York City.
Below is specific information on individual RFP's.
Tax Credit Available Under the Low-Income Housing Credit Program (LIHC)
New York State Homes and Community Renewal (HCR) announces the availability of tax credit under the Low-Income Housing Credit Program (LIHC) which is authorized under Section 42 of the Internal Revenue Code.
A $3,000 application fee is required for each LIHC Capital Application with the following exception: not-for-profit applicants (or their wholly-owned subsidiaries) which will be the sole general partner of the partnership/project owner or the sole managing member of the limited liability company/project owner may request a deferral of payment until the time of credit allocation.
DHCR expects to have approximately $25 million available for LIHC reservations. The maximum annual LIHC allocation per unit that may be requested is $22,000. The maximum annual LIHC allocation per project that may be requested is $1.43 million. However, up to $1.65 million may be requested for projects in which 50 percent or more of the units will serve large families or persons with special needs, including the frail elderly.
The Low-Income Housing Trust Fund Program; New York State HOME Program; Rural Area Revitalization Projects Program; Urban Initiatives Program; and Community Investment Fund
A Request For Proposals (RFP) for Unified Funding 2013 site specific multi-family project applications (Capital Applications) seeking funding under the Low-Income Housing Trust Fund Program (HTF), the New York State HOME Program (NYS HOME), the Rural Area Revitalization Projects Program (RARP), the Urban Initiatives Program (UI), and the Community Investment Fund (CIF), is expected to be available by Fri., Aug. 16, 2013. NYS HOME Program applicants should be aware that this NOFA is applicable to site-specific capital projects only. A separate NOFA will be issued for HOME Local Program Administrator (LPA) Applications.
This year’s funding round will have two application deadlines. The first deadline will be for Early Award Projects, which meet criteria which will be set forth in the RFP. The second deadline will be for all other capital applications. Applications for Early Award Projects must be completed and submitted by 5 p.m. on Thurs., Oct. 10, 2013. All other Unified Funding 2013 Capital Applications must be completed and submitted by 5 p.m. on Thurs., Dec. 5, 2013.
Approximately $32 million in HTF funds, $500,000 in RARP funds, $50,000 in UI funds, and $5.1 million in CIF funds is expected to be available, subject to the availability of appropriations. UI and RARP funds may only be requested in combination with one or more of the four Unified Funding Programs (HTF, NYS HOME, Low-Income Housing (LIHC), and State Low-Income Housing Credit (SLIHC)). Approximately $5.5 million in New York State HOME Program funds is expected to be available, subject to the availability of appropriations.
Tax Credit Available Under the New York State Low-Income Housing Tax Credit Program (SLIHC)
DHCR expects to have approximately $4 million available for SLIHC reservations. The maximum annual SLIHC allocation per unit that may be requested is $20,000. The maximum annual SLIHC allocation per project which may be requested is $750,000.
Contact: Ken Harris, kharris@leadingageny.org, 518-867-8835