More than $70 million in low-interest state and federal loans and tax credits are available through the New York State Homes & Community Renewal (HCR) program for shovel-ready projects to build affordable housing units, Gov. Andrew Cuomo announced Sept. 13.
Available funds include $32 million in low-interest loans through the low-income Housing Trust Fund program, $25 million in federal low-income housing tax credits, $11 million in loans through the HOME Capital program, and $4 million in state low-income housing tax credits.
The funds are available through HCR”™s Unified Funding Application, which can be found at www.nyshcr.org. The deadline for early round projects is Oct. 25, with other project applications due Nov. 29.
Cuomo’s office also announced three Unified Funding Application workshops would be held across the state from Sept. 19 to Sept. 21, with the latter meeting taking place at 10 a.m. at 25 Beaver St. in New York City.
In 2011, HCR made 35 awards totaling $78 million in low-interest loans and tax credits to build and preserve 2,200 affordable housing units. The projects leveraged over $500 million in grants, loans and private resources, according to a statement from the governor’s office.
