Storm Recovery RFP Issued by HCR

New York State Homes & Community Renewal (HCR) has issued a Request for Proposal (RFP) through the Community Development Block Grant Disaster Recovery (CDGB-DR) program to repair or replace housing damaged by Superstorm Sandy, Hurricane Irene, and Tropical Storm Lee. HCR is making available allocations totaling up to $50,000,000 under the New York Rising Rental Buildings Recovery Program Multi-family/Affordable Housing Fund (AHF).

CDBG-DR program grantees must ensure that each funded activity meets one of three named National Objectives:

All projects must demonstrate a clear connection to one of the Covered Storms, as described in the priorities for this RFP.

Applicants may only apply under this RFP for awards for new construction, substantial rehabilitation and moderate rehabilitation of site-specific multi-family rental housing (the Projects) that will also have first mor

• Benefiting low- and moderate-income persons;
• Preventing or eliminating slums or blight; and
• Meeting urgent needs.

This funding can be applied towards the acquisition, rehabilitation, reconstruction and/or new construction of affordable multifamily rental housing. Allowable costs may also include the clearing, demolition and removal, and site work for development of multifamily properties.

tgages financed by tax-exempt Private Activity Bonds (PAB) issued by the New York State Housing Finance Agency (HFA). Any awards made under this RFP will be contingent on the project receiving an award of PAB volume cap authority sufficient to fund the Project’s first mortgage and to allow for a closing by March 2015. HCR also anticipates making AHF funding available as part of the upcoming Unified Funding Competitive Round for projects seeking allocations of 9 percent Low Income Housing Tax Credits (LIHTC).

Contact: Ken Harris, kharris@leadingageny.org, 518-867-8835