New York
NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator
ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.
Bellwether Enterprise Closes over $62 million in Financing in NY, TX and OH
The lender announced the closing of three deals totaling more than $62 million for properties in New York, Texas, and Ohio.
New York State Celebrates over $3 Billion Invested in Historic Properties Since 2013
Governor Cuomo recently announced that his state completed more historic property revitalization projects than any other in 2016, thanks to both the federal and state historic tax credit programs. The announcement was hosted at Sibley Square, a $200 million project by NH&RA member WinnDevelopment. The New York State Historic Rehabilitation Tax Credit Program has a […]
New York: Nearly $100M in New Green Bonds for Affordable Housing
New York State Homes and Community Renewal’s Housing Finance Agency will issue the bonds under its new Green Bond program, funding four developments that will inject nearly $200 million in economic activity into local economies and create more than 640 green, affordable and supportive apartments.
Preston C. Moore: In Memoriam
It is with great sadness that we report that our friend and colleague Preston C. Moore passed away at his home on Tuesday July 5 at the age of 84. Preston was the President of Urban Home Ownership Corporation in New York City and one of the founding members and a longtime Director of National […]
Governor Cuomo Signs Private Activity Bond Allocation Act
On Thursday, Governor Cuomo signed into law the Private Activity Bond Allocation Act of 2016 (A.10255/S.7637) which continues the same distribution formula for volume cap used in previous years and includes important reforms.
New York Legislature Fails to Agree on $2B MOU for Affordable Housing Plan
The New York State Legislature approved $150M in new funding towards supportive housing. This amount leaves advocates wanting, however.
New York Releases Multifamily Open Window RFP
New York Homes and Community Renewal released its Multifamily Open Window RFP for capital sources primarily available to projects financed by HFA tax-exempt bonds.
IRS Divides $2.59M of Unused 2015 LIHTCs Among 30 States
The Internal Revenue Service divided $2.59 million in unused Low Income Housing Tax Credits from calendar year 2015 among 30 states.
New York Announces NOFAs for State and Federal Credits and Early Award Option
New York announced a Unified Funding Request for Proposal, a competitive RFP process than allows applicants to apply for 11 different funding sources using one application. HCR is offering an accelerated Early Award option for shovel-ready projects that clearly advance State housing goals, such as Transit Oriented Development, Housing Opportunity Projects, and Mixed-Income, Mixed-Use Revitalization.
New York City Mayor Proposes Mandatory Inclusionary Zoning
In a new proposal announced last Friday, Mayor de Blasio addresses economic integration by leveraging the booming market-rate real estate industry by requiring affordable housing in upzonings (Mandatory Inclusionary Housing).
New York State Extends 421-a Tax Exemption
The New York State legislature passed a bill that extends the 421-a tax exemption for projects in New York City beginning construction before December 31, 2015 and a establishes a new exemption for projects on which construction starts after that date.
New York City Budget Dedicates $7B to Affordable Housing Over Next 10 Years
The City of New York enacted Friday at 2016 budget of $78.5 billion. Following through on Mayor de Blasio’s promised investment of more than $7 billion in City funds for affordable housing over 10 years, an increase in City capital has been strategically allocated to support the development of 80,000 new construction units and the preservation of 120,000 across the 5 boroughs.