NYS Homes and Community Renewal Announces Start of 2017 Unified Funding Application Round

New York State Homes and Community Renewal (HCR) has announced the start of the 2017 Unified Funding Application Round. Subject to appropriation, the following will be available: nearly $32 million in State and Federal 9% Low Income Housing Tax Credits; nearly $200 million in low interest loan financing; and up to 100 Section 8 Project-Based Vouchers.

The following capital program funding for site-specific multifamily project applications is also included:

$28 million, Federal Low Income Housing Tax Credit Program;
$4 million, NYS Low Income Housing Tax Credit Program;
$65.2 million, Housing Trust Fund Program;
$7 million, NYS HOME Program;
$44.9 million, Community Investment Fund Program;
$35 million Supportive Housing Opportunity Program;
$4 million, Homes for Working Families Program;
$10 million, Public Housing Preservation Program;
$15 million, Multifamily Preservation Program; and
$16 million, Middle Income Housing Program.

Requests for Proposals are expected to be published by Aug. 15, 2017 and will include state housing goals and priorities and provide specifics on each capital funding program.

The following workshops regarding programs and applications will be held:

Sept. 7, 2017 in Rochester, NY;
Sept. 8, 2017 in Albany, NY; and
Sept. 11, 2017 in New York, NY.

Application deadlines will be:

Oct. 5, 2017 for projects meeting Early Award Application Round funding goals;
Nov. 7, 2017 for Early Award Empire State Supportive Housing Initiative projects; and
Dec. 5, 2017 for all other Unified Funding Applications.

Further information and application materials may be found on the HCR website.

Contact: Sara Neitzel, sneitzel@leadingageny.org, 518-867-8835