New York State releases RFP

New York State Homes & Community Renewal (HCR) released the 2016 Multifamily Open Window RFP today, an offering of $70 million in funding for projects ready to close by July 2016 in five areas (New Construction Capital Program, Supportive Housing Opportunity Program, Public Housing Preservation Program, Multifamily Preservation Program and Middle Income Housing Program). In addition, $117.2 million of Fiscal Year 2016-17 funding for other continuing HCR programs (such as Homes for Working Families and Mitchell-Lama Loan Program funds) is available via the Open Window application process.

The RFP notes that HCR expects to make additional housing funds available once an MOU is finalized between the Governor, the NY Assembly and the NY Senate.

For now, here are the details of this great news from New York State: