New York

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

New York becomes the latest state to pass legislation that seeks to convert distressed hotels or other commercial properties into affordable housing, creating opportunities for property owners and nonprofit organizations.

The U.S. Supreme Court recently granted an injunction blocking enforcement of a New York anti-eviction law, finding that a key provision allowing tenants to attest to their pandemic-related hardship in order to prevent eviction violates landlords’ due process.

RetrofitNY is continuing to make progress in transforming New York’s existing building stock to net-zero energy (NZE). RetrofitNY will be releasing new funding in Q3 2021 for NZE and near-NZE retrofit pilot projects. To access funding, you will need to be pre-qualified through at least one of our existing Request for Qualifications (RFQL).  

Enterprise Community Partners is launching  Equitable Path Forward: Advisory Services (EPF AS), a 24-month program that will support up to eight Black, Indigenous and people of color- (BIPOC) led affordable housing organizations enhance their capabilities and strengthen their operations. 

On April 16, 2021, New York Gov. Andrew Cuomo signed into law the COVID-19 Emergency Rental Assistance Program of 2021 (the “2021 Act”).  The 2021 Act allocates $2.45 billion in rental relief for New York households, including $2.35 billion in federal funds and $100 million in state funds.  Each state or other jurisdiction receiving federal funds is charged with administering those funds through new or existing rental assistance programs in that state or jurisdiction. This advisory provides a general background on the current need for rental assistance and New York’s previous attempt at rent relief, describes the relevant details of the 2021 Act, and highlights what is next with respect to rental assistance.

In a new article, Nixon Peabody covers the new Article XI real property tax exemption term sheet from the New York City Department of Housing Preservation and Development (NYC HPD).

The National Housing Trust and Climate Central released an analysis evaluating the risk to affordable housing from flooding related to sea-level rise over the next 30 years. The report found, among other items, that the number of affordable rental apartments at risk from coastal flooding and sea-level rise is expected to more than triple during the next three decades.

CDT’s equity investment will help fund substantial rehabilitation of the NYCHA-owned (New York City Housing Authority) buildings and individual units known as the NYCHA Manhattan Megabundle, a 16-site portfolio located throughout Manhattan totaling 1,718 residential units.

New York Mayor Bill de Blasio (D) announced restoration of $466 million of housing cuts in FY2021 to the city’s department of Housing Preservation and Development (HPD). Mayor de Blasio’s decision to reverse course and restore HPD’s 2021 capital budget will produce roughly 11,000 units of affordable housing, at a time when those homes are […]

In a recent issue of Health Affairs focusing on investments in social determinants of health, a new study examined how renovations of a property in Queens, NY that converted through RAD may improve the health of public housing residents.

HUD released the full report, “Examining the Effects of the Rental Assistance Demonstration (RAD) on Children Living in Public Housing in Fresno, California,” which assessed outcomes and the well-being of children living in developments that have undergone rehab and conversion under RAD.

On June 30, 2020 Governor Andrew Cuomo signed into law S. 8192B, which prohibits evicting tenants for unpaid rent accrued between March 7 and the compete reopening of their area, so long as a tenant can prove in court that they experience financial hardship during that period.  A judge can still issue a money judgement against the tenant.

On April 12, 2020, Governor Andrew M. Cuomo signed Executive Order 202.16 to help expedite the formation of essential developments, including affordable housing and homeless shelters.