New York
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.
House Representatives Introduce Bill to Permanently Extend NMTC
Representatives Pat Tiberi (R-OH), Richard Neal (D-MA) and Tom Reed (R-NY) introduced a bill to permanently extend the New Markets Tax Credit (NMTC) program.
State News Week of September 29: California Governor Jerry Brown Vetoes NMTC and HTC Legislation
On September 29, California Governor Jerry Brown vetoed A.B. 1399, a bill to create a state new markets tax credit (NMTC), and A.B. 1999, to create a state historic rehabilitation tax credit (HTC).
Latest Round of Funding Available Through New York State HCR Unified Funding Application Process
New York State Homes and Community Renewal (HCR), the Division of Housing and Community Renewal and the NYS Housing Trust Fund Corporation have announced the latest round of funding available through their Unified Funding application process. The application deadline for early round projects is Tuesday, October 7, 2014, by 5:00 PM. The application deadline for […]
State News Week of September 15, 2014: IRS LIHTC Carryovers and More!
The Internal Revenue Service (IRS) published that $2.59 million of unused LIHTCs carryovers for calendar year 2014 will be allocated to 35 qualified states and Puerto Rico.
New York State HCR Have Announced the Latest Round of Funding
New York State Homes and Community Renewal (HCR), the Division of Housing and Community Renewal and the NYS Housing Trust Fund Corporation have announced the latest round of funding available through their Unified Funding application process. The application deadline for early round projects is Tuesday, October 7, 2014, by 5:00 PM. The application deadline for […]