Thursday, August 22, 2013
 

 

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Millions available to build thousands of affordable housing units across the state

ALBANY - $71 million is now available through New York State Homes & Community Renewal (HCR) for shovel-ready projects to build affordable housing units across the state.

“Expanding affordable housing for New Yorkers in need has been a priority of the administration over the last two years,” Governor Andrew Cuomo said. “This latest investment will leverage hundreds of millions in public and private resources to further our goal of ensuring every New York family has access to housing, as well as launching shovel-ready construction projects across the state.”

The Early Award and Unified Funding Rounds for 2013 incorporate several new elements which reinforce the State’s housing goals, including Disaster Relief Projects, Transit-Oriented Development, and projects in the Fort Drum Impact Area.

Updates to the Unified Funding awards for 2013 include new resources in the Community Investment Fund (CIF) which appropriates $5 million for the new Rural and Urban Community Investment Fund; energy efficiency/green building performance requirements; and considerations for cost effectiveness. Of the new $5 million allocated for CIF awards, 60% percent will be allocated to projects in urban areas of New York State, and the remaining 40% will be allocated to projects in rural areas of the State. CIF funds can support the non-residential piece of mixed-use affordable housing developments in rural and urban areas, and in rural areas will support the preservation and rehabilitation of existing affordable housing. For projects to be eligible for the Early Awards they must be high quality, shovel-ready projects which advance one of the State’s specific housing goals, which include:

· Priority projects identified in Regional Economic Development Council (REDC) plans
· Fort Drum Impact Area projects (North Country)
· Disaster Relief Projects (for communities directly impacted by Superstorm Sandy, Hurricane Irene or Tropical Storm Lee)
· Mixed-income/mixed-use revitalization
· Supportive housing projects serving veterans with special needs
· NYS Office for People with Development Disabilities (OPWDD) supportive housing projects
· Housing Opportunity Projects
· Transit-Oriented Development (TOD)
· Mitchell-Lama Portfolio Projects
· Rural Preservation Projects
· State Public Housing Restructuring Projects