New York State Homes and Community Renewal (HCR) announced the latest round of available Low-Income Housing Credit (LIHC), Housing Trust Fund (HTF), HOME Program (HOME) and State Low-Income Housing Tax Credit Program (SLIHC) funds, as well as the new Rural and Urban Community Investment Fund (CIF), available through the Unified Funding application process.
Notable changes for the 2013 Cycle:
- LIHC Mixed-Income Pilot will allow certain NYC family projects to exceed $22,000/per unit LIHC maximum.
- Heightened energy performance requirements coupled with HTF and HOME funding flexibility to help offset costs.
- Two new cost-effectiveness measures.
- HTFC maximum square footage limits now apply to ALL projects seeking UF 2013 funding.
The amount of funding available includes:
- LIHC – $25 million
- $22,000/unit maximum
- $1.43 million/project maximum ($1.65 million for projects in which 50% or more of the units built will serve large families or persons with special needs)
- HTF – $32 million
- $125,000/unit maximum
- $2 million/project maximum ($2.4 million for those that meet certain unit size, supportive housing or energy efficiency criteria)
- HOME – $5.5 million (subject to availability of appropriations)
- CIF – $5.4 million ($2.16 million for rural projects and $3.24 million for urban projects)
- SLIHC – $4 million
- $20,000/unit maximum
- $750,000/project maximum
The deadline for early round projects is Thursday, October 10, 2013 and projects will be approved based on the current LIHC QAP and SLIHC regulation guidelines. All other projects will be due on Thursday, December 5, 2013 and projects will be approved based on the proposed QAP and SLIHC Regulation guidelines.
Unified Funding 2013 Capital Application Workshops will include a discussion of project Application requirements and the Unified Funding process.
UF 2013 Capital Application workshops will be conducted at the following times and locations:
Wednesday, September 4, 2013 at 10:00 AM
Rochester City Council Chambers
City Hall – Room 302
30 Church St.
Rochester, NY 14614
Thursday, September 9, 2013 at 10:00 AM
Hampton Plaza Ballroom
38-40 State Street
Albany, NY 12207
Friday, September 10, 2013 at 10:30 AM
25 Beaver St., Room 510
New York, NY 10004
Click here to find out more about the Unified Funding process.
Any questions regarding workshops can be directed to Arnon Adler at AAdler@nyshcr.org.