HCR Releases Summer 2020 RFPs
New York State Homes and Community Renewal (HCR) has released the Summer 2020 Multifamily Finance/9 Percent Low-Income Housing Tax Credit (LIHTC) Request for Proposals (RFP) (formerly known as the Unified Funding RFP). This year's RFP follows the State's new competitive process for awarding 9 percent LIHTCs and subsidy financing that is “designed to be more accessible to our sponsors proposing affordable supportive and multifamily housing projects, allowing projects to more seamlessly align with the State’s housing goals.” Another RFP is expected in the fall of 2020.
Housing goals have been revised under this RFP, and all projects must clearly advance at least one of the following goals:
- Senior Housing
- Community Renewal and Revitalization
- Integrated Supportive Housing Projects
- Housing Opportunity Projects
- Workforce Opportunity Projects
- Projects Advancing State Revitalization and Economic Development Initiatives
- Public Housing Redevelopment Projects
- Preservation Projects
The following funding is available through this RFP:
- $5 million in Senior Housing Program funds;
- $15 million in Low-Income Housing Trust Fund Program funds;
- $3 million in Community Investment Fund Program funds;
- $10 million in Supportive Housing Opportunity Program funds;
- $7 million in Public Housing Preservation funds;
- $3 million in Middle Income Housing Program funds;
- $5 million in Housing Development Fund Program funds;
- $5 million in Federal Housing Trust Fund Program funds; and
- $5 million in All Affordable New York City funds, subject to availability of appropriations.
HCR expects to have approximately up to $11 million available for federal LIHTC reservations. HCR also expects to have approximately up to $1 million available for New York State LIHTC reservations.
The term sheet for the Senior Housing Program is available here. As in previous years, the Senior Housing Program includes healthy aging programming requirements that do not trigger Department of Health (DOH) licensure and which access community partnerships, resources, and activities for seniors aged 62 and above.
Applications for all funding streams are available here. Applications will be submitted through a web-based dropbox to ensure ease of application submission. Section 8 Project Based Vouchers (PBVs) will now be available through a separate RFP, which will be released by the end of July 2020. Applications for Summer 2020 projects must be completed and submitted by 11:59 p.m. on Aug. 26, 2020.
HCR will hold an application webinar on July 30, 2020 that will include a presentation of project application requirements and process. Details for the application webinar will be provided on the HCR website. You may contact Arnon Adler at firstname.lastname@example.org or 518-486-5044/518-859-3932 (cell) for further information regarding this webinar.
Contact: Sara Neitzel, email@example.com, 518-867-8835