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What’s New?
General Overview
Program Funds Available
Schedule
Application Materials
www.nyshcr.org 2
UF Review Process
Early Awards
UF 2017 Funding Pilot/Initiatives
Program Information
New Subsidy Programs
Existing Subsidy Programs
Credit Programs
www.nyshcr.org 3
Underwriting
Architecture & Engineering
HCR Fair and Equitable Housing Office
Affirmative Fair Housing Marketing Plan
Section 3
VAWA
HCR Office of Economic Opportunity and Partnership Development
M/WBE
SDVOB
Technical Assistance
Questions & Answers
www.nyshcr.org 4
New Funding Programs
Homes for Working Families (HWF)
Public Housing Preservation Program (PHP)
Multifamily Preservation Program (MPP)
New Early Award State Housing Goals
Downtown Revitalization Initiative Projects
Upstate Revitalization Initiative Projects
NYS OMH Capital Projects
DHCR/HTFC Portfolio Preservation Projects
www.nyshcr.org 5
New 9% LIHC Program Set-Aside for Housing Opportunity Projects (up to $5m)
Increased 9% LIHC Set-Aside for ESSHI and Supportive Housing Projects (up to $5m)
Higher Program Funding Limits for projects:
Housing Trust Fund Program - $2.4m ($3.4m for HOP projects)
NYS HOME Program - $2.4m ($3.4m for HOP projects)
Supportive Housing Opportunities Program – see RFP for per unit max award amounts and its geographic basis
www.nyshcr.org 6
New procedures for requesting and scheduling Technical Assistance
New Underwriting Conventions
Accessibility Affidavit
Section 8 Project Based Voucher program modifications
www.nyshcr.org 7
An annual, regionally-based, competitive funding opportunity for affordable multifamily housing.
A single, web-based application to access funding from multiple State and federal programs…UF 2017 is offering 11 different funding sources to prospective applicants
www.nyshcr.org 8
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The UF regional competition is based on New York State’s 10 Economic Development Regions
HCR may review a Unified Fund application under any program for which the proposed project is eligible
HCR may change or disallow aspects of an application as a condition of award
May consider 9% applications under HFA open window 4% RFP
Flexibility for developers to consider different options
Provide for market and site-specific needs
Encourage leveraging
Advance housing goals
Coordinated investment with jurisdiction and agencies
Mixed income and mixed use development encouraged
Integrated, supportive housing encouraged
www.nyshcr.org 10
HOMEApproximately
$7,000,000
Low-Income Housing Credit (LIHC)Approximately $28,000,000
NYS Low-Income Housing Tax Credit (SLIHC)Approximately
$4,000,000
Housing Trust Fund (HTF)Approximately $65,200,000
Supportive Housing Opportunity Program (SHOP)Approximately
$35,000,000
Public Housing Preservation Program (PHP)Approximately
$10,000,000
www.nyshcr.org 11
Multifamily Preservation Program (MPP)Approximately
$15,000,000
Middle Income Housing Program (MIHP)Approximately $16,000,000
Rural and Urban Community Investment Fund (CIF)
Up to $44,900,000
Homes for Working Families Program (HWF)Up to
$4,000,000
Section 8 Project-Based Vouchers 100
www.nyshcr.org 12
*Subject to available appropriations/authorizations
July 17, 2017: Notices of Funding Availability and Notice of Credit Availability issued
August 18, 2017: Request for Proposals issued
September 2017: Application Workshops 9/7 - Rochester 9/8 - Albany 9/11- NYC
October 5, 2017: Early Application Deadline
November 7, 2017: Early ESSHI Application Deadline
December 5, 2017: Standard Application Deadline
December 2017: Early Awards Anticipated
April 2018: Standard Awards Anticipated
www.nyshcr.org 13
UF 2017 Request for Proposals (RFP)
UF 2017 Project Application CD Online (CDOL)
Capital Project Application On-Line Instructions
UF 2017 CD-Online Application Screen Shots
HTFC Design Handbook
Capital Programs Manual (CPM)
14www.nyshcr.org
DHCR’s Low-Income Housing Credit Qualified Allocation Plan (DHCR 9% LIHC QAP)
NYS Low-Income Housing Tax Credit Article 2-A Public Housing Law (SLIHC Statute)
NYS Low-Income Housing Tax Credit Program (SLIHC) Regulation – 9 NYCRR Part 2040 Section 2040.14
UF 2017 Reference Materials
UF 2017 Capital Application Presentation
www.nyshcr.org 15
SHPO “Walk Through” Guide and Contact List
Unified Funding Q&A
Pre-Qualified Market Analyst List
Affirmative Fair Housing Marketing Plan Fillable Form
Affirmative Fair Housing Marketing Plan – Guide for Managing Agents, Owners and Developers
www.nyshcr.org 16
Pre-Application Technical Assistance
Eligibility
Rating
Underwriting
Design
Selection Criteria
Awards
www.nyshcr.org 17
Required Pre-Application Technical Assistance (see RFP for guidelines on Requesting
TA)
All Early Award Applications
All applications proposing special needs/supportive housing preference for 60% or
more of project units (TA recommended for other supportive housing projects)
TA session with HCR and OPWDD for projects serving OPWDD client population
All applications proposing the use of historic tax credits (Must have SHPO
Participation. See SHPO contact list)
9% LIHC Mixed-Income Initiative
Neighborhood Revitalization Cross-Subsidy Pilot
All Community Investment Fund applications
www.nyshcr.org 18
Submit a complete application by 5 pm, October 5, 2017 (for ESSHI, by 5 pm, November 7, 2017)
Mandatory Pre-Application Conference with HCR Development Director and project/technical staff. Must also submit preliminary application documents including:
Attachment F9, Proposal Summary
Exhibit 3, Development Budget (identify HCR funding sources)
Exhibit 4, Rent Plan
Exhibit 5, Operating Budget
Attachment B3, Preliminary Plans
Attachment B6 (LIHC) or B132 (HTFC) Physical Needs Assessment Form for rehab projects (see RFP guidance)
Demonstrate readiness to proceed to construction within 120 days of award (180 days for NYC). Past performance is a critical consideration
The application must clearly advance one of the following State housing goals identified in the RFP.
www.nyshcr.org 19
Additional required submissions to demonstrate readiness:
Title report
Submissions if available:
Firm commitments or letters of interest with term sheets for all sources of financing
Evidence that tax exemption or tax abatement has been approved OR certification of sponsor that the process for obtaining exemption/abatement has begun, and it will be available at the time of loan closing
www.nyshcr.org 20
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Early Awards –Revitalization & Economic Development Goals
Priority Projects Identified in Regional Economic Development Plans - Project specifically endorsed in Regional Economic Development Council Strategic Plan and for which significant financial assistance has been made available as part of the plan.
Downtown Revitalization Initiative Projects – Project clearly advancing objectives of an approved DRI strategic investment plan. Priority for DRI projects for which significant financial assistance has been made available as part of the Plan.
Upstate Revitalization Initiative Projects –Project specifically identified in an Upstate Revitalization Initiative Plan for which at least a portion of project units will be affordable to low and/or moderate income households and for which significant financial assistance has been made available pursuant to such a Plan.
www.nyshcr.org 22
www.nyshcr.org 23
Early Awards –Revitalization & Economic Development Goals
Mixed-Income/Mixed-Use Revitalization Projects –
Must serve a mixed use neighborhood and be a part of a neighborhood specific revitalization effort.
Must target at least 15% households with incomes above 60% of Area Median Income and have clear local support and commitment of local resources.
Must involve the reuse of existing buildings OR infill new construction OR demolition and replacement of buildings having a blighting impact on the community.
RFP establishes preferences within this Early Award policy goals, including new Comprehensive Workforce Development Plan preference.
www.nyshcr.org 24
Early Awards –Supportive Housing Goals
Empire State Supportive Housing Projects –Must have a Conditional Award Notification through the Empire State Supportive Housing Initiative, Inter-Agency Service and Operating Funding Opportunity RFP and for which at least 50% of the project’s total units will serve an eligible target population.
NY/NY III Projects –Must have secured a commitment of NY/NY III or service and operating subsidy for at least 50% of the project’s total units.
NYS Office of Mental Health Capital Projects –Must have a commitment from NYS OMH for capital and operating subsidy for at least 50% of the project’s total units.
www.nyshcr.org 25
Early Awards – Workforce Opportunity Goals
Housing Opportunity Projects
Family projects in areas with the following characteristics:
Experiencing economic growth Stable or growing tax base Close proximity to public transportation (1/2 mile
safe walking distance with regularly occurring transit), child care and employment opportunities
Located in census tracts identified in UF 2017 Reference Materials
Must provide average of 2 bedrooms
LIHC basis boost may be requested
Rural Preservation Projects –
Must propose rehabilitation of project receiving RRAP funds that extends the life of the project by no less than 20 years and at least 90% of TDC directly related to hard costs
Public Housing Redevelopment –
Must proposed the gut rehabilitation and/or demolition and replacement of substandard public housing outside the City of New York.
www.nyshcr.org 26
www.nyshcr.org 27
Early Awards –Affordable Housing Preservation Goals
DHCR/HTFC Portfolio Preservation Projects –
Must be currently regulated by NYS DHCR and/or NYS HTFC
Must have significant unmet physical needs that cannot be
addressed solely through the use of project reserves and
mismanagement is not a significant contributing factor
Scope of work must extend the useful life of the project no less
than 20 years and satisfy heightened energy efficiency
standards specified in the UF 2017 RFP
90% of TDC must be directly related to physical improvements
(excluding roll over debt)
Can only request MPP under this goal
Limited to $2 million/$50,000 per unit
Homes for Working Families (HWF)
New construction financed with NYC Housing Development Corporation tax-exempt bonds and 4% as-of-right LIHC issued by NYC Department of Housing Preservation & Development
May not be combined with any other UF 2017 funding programs, including PBVs
Must be able to close on construction financing by 6/30/2018
www.nyshcr.org 28
Public Housing Preservation Program (PHP)
Rehab and/or demolition and replacement through new construction of site-specific multifamily rental housing owned by federal PHA’s
Per project limit $2.4m/$50,000 per unit limit with a household income up to 60% AMI
Cannot be combined with HTF/HOME, SHOP or MIHP
Can request PBVs if not in RAD1 program
www.nyshcr.org 29
Multifamily Preservation Program (MPP)
Rehab of site-specific multifamily rental housing currently regulated by NYS DHCR and/or NYS HFTC
Per project limit $2 m/$50,000 per unit limit with a household income up to 60% AMI
Must be in service for at least 20 years with a preference for projects placed in service at least 25 years ago
90% of TDC must be directly related to physical improvements
Must meet UF 2017 Energy StandardsStreamlined application and competition limited to other
MPP applicationsCannot be combined with any other UF 2017 funding
program, except PBVs
www.nyshcr.org 30
Approximately $65.2 million available
$2.4 million per project limit; up to$3.4 m for projects meeting the 9% LIHC set-aside HOP requirements
HTF per residential unit cap - $125,000
Permanent and/or construction financing available
Must benefit households < 90% of AMI (in NYC <80% of AMI)
www.nyshcr.org 31
Preference for projects with a substantial number of units < 50% AMI
Up to 10% of HTF award amount may be used for a community service facility
Developer Allowance up to 10% of TDC excluding acquisition and project contingency
Up to 50% of HTF award may be used for acquisition
For more info – see UF 2017 RFP
www.nyshcr.org 32
All HOME units in UF capital projects must be targeted to households < 60% AMI
$2.4m per project limit; up to $3.4m for projects meeting the 9% LIHC set-aside HOP requirements
HOME projects funded with 9% LIHC will be required to use HOME as construction financing
www.nyshcr.org 33
Utility Allowances in HOME Projects2013 HOME Final Rule (24 CFR Part 92) requires tenant
utility allowances to be established using either the HUD Utility Schedule Model or a project-specific methodology
HCR will require an Energy Consumption Model (ECM) compliant with IRS regulations (26 CFR 1.42-10(b)(4)(E)) to be used to establish project-specific utility allowances in funded HOME projects (See Section 5 of the CPM for more information)
ECM is not required at application, but any HOME-funded project will need to satisfy this requirement prior to construction start
www.nyshcr.org 34
Utility Allowances in HOME Projects
HOME awardees must use the UA established by the ECM for all HOME–funded units
Public Housing Authority (PHA) Section 8 utility allowances may only be used for HOME–funded units that have Project-Based Section 8 rental assistance
www.nyshcr.org 35
Projects must be completed in 4 years or HOME funds recaptured by HUD
Federal NEPA environmental review timeframe must be considered in setting HOME project development timetable
NEPA must be completed and approved by HCR prior to any “choice-limiting activities” (i.e., AHAP execution, site preparation or construction) or award will be terminated
CHDO projects – HOME funds must be expended within 5 years or recaptured
Rental units must be occupied within 18 months of project completion or project will lose funds for those units
www.nyshcr.org 36
Per unit limits:
NYC, Westchester, Long Island
Up to $150,000 per supportive housing unit
Up to $110,000 per other housing unit
Rest of state
Up to $85,000 per supportive housing unit
Up to $60,000 per other housing unit
Can be used with HTF provided HTF is used to subsidize units targeted to households above 60% AMI exclusively
Cannot be combined with HOME
PBVs may only be requested for non-supportive units in the project
www.nyshcr.org 37
Minimum of 30% of project units for supportive housing, no maximum percentage
Projects serving ID/DD populations must include a letter of support from OPWDD for at least one-half of the TPC for those units
Supportive unit rents must be underwritten to at least 50% AMI (may be higher based on operating needs of project)
At least 50% of the units in the project must be affordable to households earning no more than 60% of AMI
www.nyshcr.org 38
The MIHP provides financing assistance for acquisition, capital costs and related soft costs associated with the new construction of, or the adaptive reuse of non-residential property to, affordable middle income housing units.
Must include units targeted to households between 60% - 130% AMI
Must be requested in combination with 9% LIHC
MIHP requests subject to standard 9% LIHC gap analysis and cash flow limits
www.nyshcr.org 39
No per project limit/$200,000 per unit limit
In areas with market conditions that can support conventional financing or when MIHP is combined with other available financing sources, lower per unit MIHP subsidies will be expected. Applications will be carefully reviewed to ensure that MIHP units are not over-subsidized.
Minimum regulatory term increased to 50 years to match LIHC RA requirement
MIHP may not be used in senior projects
www.nyshcr.org 40
HCR is seeking MIHP applications leveraging significant amounts of capital support from non-HCR sources and advancing one or more of the specific housing goals of the State and MIHP program.
Additional funding priorities and preferences:Projects that advance State Housing GoalsProjects with at least 25% of residential units targeted to
households above 90% AMI up to 130% AMI in HUD designated QCTs or transitional neighborhoods
Projects where at least 50% of the dwelling units contain two or more bedrooms
NYS Brownfield Cleanup Program Projects
www.nyshcr.org 41
RENT ADVANTAGE LIMITS
For MIHP projects located in a HUD designated Qualified Census Tract (QCT) or a transitional neighborhood, HCR will allow up to a 20% rent advantage for middle income tenants to encourage higher income hh to reside in these neighborhoods
e.g. A MIHP unit with rent set at 94% AMI affordability may be rented to hh up to 114% AMI
IT CANNOT BE TARGETED TO 120% or 130% AMI Unit will be regulated at a maximum of 114% AMI
www.nyshcr.org 42
RENT ADVANTAGE LIMITS
For MIHP projects not located in a QCT or transitional neighborhood, MIHP units should be targeted to no more than the top of the income band at which the rent is affordable
e.g. a MIHP unit with rent set at 75% AMI should be targeted at or below 80% AMI etc.
www.nyshcr.org 43
The FY 2017-2018 budget included an allocation of $44,900,000 for the Rural and Urban Community Investment Fund (CIF).
In previous funding rounds, CIF could be used to:
support retail, commercial or community facility components of mixed-use affordable housing developments in urban and rural areas, or;
to support the preservation and rehabilitation of existing affordable housing in rural areas.
In this round CIF may also be used to:
Assist regulated projects recommended by HCR
Assist with the adaptive reuse or rehabilitation of mixed use buildings in rural village centers containing 8-20 residential units.
Assist with the adaptive reuse or mixed use (new & rehab) construction statewide within a DRI.
Funding priorities and underwriting considerations are established in the UF 2017 RFP.
www.nyshcr.org
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Per Project caps:
Up to $2 million per project/$40,000 per unit for Early Award Rural Preservation Projects;
The lesser of $2 million per project for retail, commercial or community facility space or the amount need to ensure that project income will be sufficient to support the cost of financing and operating the space of the non-residential portion of the project;
Up to $2 million for preservation of HCR-regulated affordable housing and residential rural affordable housing preservation (may request CIF and Section 8 PBVs only);
Up to $3 million for the adaptive reuse of non-residential structures and/or rehabilitation of currently unregulated housing part of 8 to 20 residential unit mixed-use project in rural village centers (may request CIF only)
Up to $3 million for mixed-use projects that clearly advance a Downtown Revitalization Initiative approved strategic plan.
Per Residential Unit caps:
Up to $40,000 per housing unit with a household income limit of up to 60% AMI for affordable housing preservation.
Up to $150,000 per affordable housing unit for the adaptive reuse of non-residential structures and/or rehabilitation of currently unregulated housing as part of 8 to 20 units mixed-use projects in rural village centers.
Up to $150,000 per affordable housing unit for mixed-use projects that clearly advance a Downtown Revitalization Initiative approved strategic plan.
www.nyshcr.org
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Subject to appropriation, HDF Program loan funds may be requested as low-interest construction financing to eligible not-for-profit applicants proposing HOME/HTF, SHOP, CIF or MIHP as permanent financing. HDF can only be used on units subsidized by MIHP for units targeted at or below 90% of AMI outside of NYC and at or below 80% of AMI in NYC
Applicants considering HDF to bridge an HTF/HOME permanent loan should discuss with Regional Office prior to application submission.
HDF loans may involve additional processing time due to additional state agency approvals.
www.nyshcr.org 46
Up to 100 units of PBV assistance for projects financed
through HTF, LIHC, SLIHC, HOME, MPP, PHP* and/or SHOP*
Applicants should fully review program regulations (24 CFR 983)
to ensure the project is consistent with HUD requirements.
Applicants may only request PBVs for projects in local program
areas serviced by HCR’s Section 8 Voucher Program and its
network of Local Administrators
NEPA Review must be completed
Subsidy layering review required - Developer and Builder Fees
capped at HUD Safe Harbor Limits
*PHP projects participating in RAD1 may not request PBVs; PBVs can only be requested for non-supportive units in SHOP Projects
www.nyshcr.org 47
May be used to assist senior, family or workforce housing
All PBV units must targeted to households at or below 30% AMI
May also be used for the preservation of projects currently
regulated by HCR, if need is demonstrated; may assist existing
tenants < 50% AMI but must be first prioritized for HH < 30% AMI;
upon turnover all PBV subsidized units must be targeted to < 30%
AMI
Maximum PBV request is 25 units or 25% of a project's total units,
whichever is greater – see RFP for special population exceptions to
the limit
www.nyshcr.org 48
SLIHC available: $4 million (Additional $4m available through current Open Window RFP issued by HCR/HFA)
SLIHC max. per project: $500,000 or SLIHC max. per project: $750,000 (If 10% or more of project units are affordable and targeted to households with incomes above 60% of AMI)
Program modeled after LIHC except units affordable to households < 90% AMI (40% units @ 90% or less of AMI)
www.nyshcr.org 49
UF 2017 LIHC available: Approximately $28 million
LIHC max per project Standard project: $1.43 million
Project w/50% or more units for large families $1.65 million
LIHC max. per unit: $22,000
Importance of leveraging non-HCR funds
LIHC-assisted units must benefit households < 60% AMI
For acquisition, rehabilitation and new construction of residential units
www.nyshcr.org 50
9% LIHC Set-Aside ($10 million)
ESSHI and Supportive Housing Project Set-Aside ($5 million)
Supportive Housing Projects Section 2040.2(u)
Meet QAP definition (QAP Section 2040.2(u)) and RFP provisions
50% of project units must serve persons with special needs, including provision of supportive services
Pre-application conference to review proposal and Olmstead consistency required
Empire State Supportive Housing Projects (ESSHI)
must have a Conditional Award Notification through the Empire State
Supportive Housing Initiative, Inter-Agency Service and Operating Funding
Opportunity RFP to fund appropriate services for targeted population;
preference in tenant selection to persons with special needs for at least 50% of
the project units; and
Meet QAP Supportive Housing definition (capital financing requirement may be
met by requesting SHOP funds under UF 2017 application process).
www.nyshcr.org 51
Housing Opportunity Project Set-Aside ($5 million)
Must be located in eligible census tract (see UF 2017 Reference Materials)
Must have average of 2 bedrooms per project
HOP project may not be intended for and solely occupied by persons 62 years of age or older or intended and operated for occupancy by persons 55 years of age or older
May be eligible for a 130% LIHC basis boost based on a DHCR designation
www.nyshcr.org 52
Significant QAP/RFP application review considerations:
Project site suitability and project location considerations
LIHC/SLIHC 50 year minimum regulatory term
Enhanced credit/financial background reviews of applicant and/or development
team principals via Lexis/Nexis (including collection of EIN’s for all development
team members in UF application)
No contractors/sub-contractors on federal or state debarment lists
Pre-selected General Contractors must complete Omnibus Certification
www.nyshcr.org 53
Significant QAP/RFP application review considerations (continued):
Cost effectiveness (threshold and scoring standards)
Notification requirements for non-compliance, identity of interest, pertinent
litigation, changes in project scope, owner/development team and budget
For funded projects, changes which impact competitive scoring may result in
scoring reductions on future projects.
Applications may be deemed ineligible for funding if developers, owners and/or
managers with overdue HTFC debt service payments have not been satisfactorily
resolved as determined by HCR Asset Management Unit and HTFC Finance Office.
www.nyshcr.org 54
Limited to new construction of family projects in NYC, Westchester, Nassau & Suffolk Counties
Refer to RFP for 9% LIHC Mixed-Income Initiative Program requirements
Read RFP rent burden requirements carefully to ensure rents on units over 60% AMI meet HCR requirements
Applicants MUST schedule a TA session with HCR staff
www.nyshcr.org 55
Projects must either be in a QCT advancing the Mixed Income/Mixed Use Revitalization State Housing Goal AND/OR transitional neighborhoods between economically vibrant and economically challenged neighborhoods
Credit equity generated by the LIHC/SLIHC units can be used to help cross-subsidize middle and moderate income units
Refer to RFP pages 58-59 for more specific guidance
Applicants MUST schedule a TA session with HCR staff
www.nyshcr.org 56
Non-HCR financed space: submission requirements
must submit in CDOL, development and operating budgets for the entire project, including portions not to be financed by HCR or to be owned by an entity other than the LP/LLC owner of the affordable residential project
HCR must be able to see a viable plan of finance for the entire project
www.nyshcr.org 57
Limit on Maximum Developer Fee Payable During Construction
10% max– projects w/for-profit developer
15% max– projects w/not-for-profit developer
The remaining developer fee must be deferred, and reflected in the development budget as a construction financing source.
www.nyshcr.org 58
Minimum Permanent LIHC/SLIHC Developer Fee Deferral Requirement
All projects with cash flow over $35 pu/pm are now required to defer developer fee as a permanent financing source in an amount equal to the total cash flow over $35 pu/pm for the project’s first 15 years of occupancy
Example: 65 unit project
$ 27,300 annual cash flow at $35 pu/pm
$409,500 15 year cash flow at $35 pu/pm
$875,000 total projected 15 yr cash flow
$465,500 Amount over $35 pu/pm to be deferred
www.nyshcr.org 59
Maximum Permanent LIHC/SLIHC Developer Fee Deferral Allowed at time of Application
Generally HCR will not allow more than 1/3 of the developer fee to be deferred as a financing source at the time of application
Developer fee provides additional cushion against cost increases
However, for NYC projects involving significant financing from a housing program of the City of New York, we will allow more than 1/3 of the developer fee to be deferred, if that is an underwriting requirement of the City program
www.nyshcr.org 60
For Attachment D2 Operating Budget Documentation and Attachment D3 Funding Commitments, please group the required documents into one PDF file for each
Attachment.
www.nyshcr.org 61
Middle income units: must be HCR regulated to claim developer fee on
these units developer fee on units over 60% AMI/90% AMI
cannot be included in LIHC/SLIHC eligible basis
Non–residential space: no developer fee may be claimed on non-residential space with exception of 9% LIHC eligible Community Service Facilities
www.nyshcr.org 62
HCR Construction Financing available:
0% interest rate
Legal fees $2,500/Construction monitoring $15,000
May not be requested for OPWDD financed projects
HCR Permanent Financing
30 years - 1% interest only payable
1% must be budgeted “above-the-line” in the operating budget
HCR underwrites the debt as payable ahead of all subordinate debt, including deferred developer fee loans.
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For financings without LIHC or SLIHC
Capped at 10% of TDC, excluding acquisition and project contingency
Limit on Maximum Developer Allowance Payable During Construction
10% max – projects w/for-profit developer15% max – projects w/not-for-profit developer
The remaining developer allowance must be deferred, and reflected in the development budget as a construction financing source.
www.nyshcr.org 64
Projects with a conventional permanent bank loan:Initial cash flow at the greater of up to $35 p/u per month OR the amount necessary to meet the lender’s/mortgage insurer’s debt coverage requirements
Projects with no permanent bank loan: Initial cash flow may exceed $35 pu/pm in order to maintain positive cash flow through 15 years
LIHC/SLIHC projects: developer fee equal to the total amount cash flow over the $35 pu/pm limit for 15 years must be deferred as a permanent financing source
www.nyshcr.org 65
Sponsors of mixed-income projects under the 9% LIHC mixed-income initiative, MIHP, and/or Neighborhood Revitalization Cross Subsidy Pilot: carefully read the rent burden requirements detailed in the RFP
Units > 60% AMI, no more than a 20% differential between the rent affordability level and the maximum HH incomes targeted by the project allowed & only for projects in QCTs or transitional neighborhoods
www.nyshcr.org 66
In mixed-use projects, Historic Tax Credit (HTC) equity must be allocated to the residential and commercial spaces according to the HTC basis contributed by the eligible cost of each space
Applicants may not use HTC equity generated from residential cost basis as a financing source for the non-residential space
www.nyshcr.org 67
Refer to the UF RFP and Section 5 of the Capital Programs Manual for specific project underwriting criteria. CPM is being updated to reflect UW changes - check website for updated version by the end of next week
Technical assistance prior to application submission strongly encouraged
Follow the Technical Assistance procedures outlined in the RFP
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Use Current Forms
Download attachments from CDOL link.
Follow instructions
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Required For All Projects:
www.nyshcr.org 70
Required For All Projects at Application:
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Required For All Projects at Application:
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Attachment B3 (Preliminary Plans)
10 MB limit to file size
Group multiple drawing sheets into single files
Save files at a resolution that is readable on standard computer monitors
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Attachment B3
(Preliminary Plans)
Group multiple
drawing sheets into
single files
This is what we see:
Avoid this…………..
www.nyshcr.org 74
Strategies primarily for new construction and substantial rehabilitation.
NYSERDA LRNCP (low rise)
NYSERDA MF NCP (mid to high rise)
EPA ENERGY STAR Certified Homes
EPA ENERGY STAR Multifamily High Rise Program
Enterprise Green Communities 2015 (or newer) criteria
www.nyshcr.org 75
Strategies for historic and moderate rehabs.
Historic rehab & adaptive re-use Fully implement one of first four standards, or NYSERDA Energy Smart (or equivalent) Consult with HCR & NYSERDA
Moderate rehab: Option one: Meet current energy code for new buildings Option two: Reduce overall energy usage by 20% NYSERDA-MPP: (for existing buildings) Can be used to meet HCR 20% energy reduction
* First NYSERDA-MPP Tier is 20-24% energy savings target
www.nyshcr.org 76
Mandatory requirements (as applicable)
Lead-safe work practices (pre 1978)
Test water systems in existing buildings
Radon mitigation (EPA radon zones 1 & 2)
ENERGY STAR appliances (all projects)
ENERGY STAR equipment (all projects)
ENERGY STAR/high efficiency lighting (all projects)
Low VOC building products (all projects)
Integrated pest management (all projects)
www.nyshcr.org 77
Optional program participation
Enterprise Green Communities Criteria (3 pts.)2015 (or newer) criteria
NYC – Enterprise Green Communities overlay
LEED Silver Level (3 pts.)Version 4 BD+C Homes
Version 4 BD+C Multifamily Midrise
National Green Building Standard Silver Level (3 pts.)
ICC/ASHRAE 700-2015 National Green Building Standard
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Optional program participation
Passive House (5 pts.)Passive House Institute – US, or
Passive House Institute
NYSERDAComprehensive Option for Multifamily Affordable BuildingsA subset of NYSERDA-MPP
(For existing buildings- moderate rehab)
30% Energy Reduction Target (3 pts.)
35% Energy Reduction Target (5 pts.)
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Must request an AE site visit no later than 30 days prior to the application deadlineSet up the site visit through the [email protected]
mailboxProvide a draft of the Physical Needs Assessment Form, or
preliminary plans for substantial, gut-rehabilitation
Use the correct application attachment (PNA Form)B6 for LIHC and/or SLIHC stand alone projectsB13 for jointly funded HTFC & LIHC/SLIHC projectsPNA not required for substantial, gut-rehabilitation
HTFC Refer to the Design Handbook Appendix F-HTFC Preservation
Standards when determining the Physical Needs Assessment scope of work
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Federal, New York State, and local fair housing laws protect individuals from unlawful discrimination in housing.
These laws aim to promote equal opportunity and prohibit discriminatory practices that unfairly limit the housing choices of protected groups or individuals.
The role of HCR’s Fair and Equitable Housing Office is to ensure that the agency and our awardees comply with the Fair Housing Act (“FHA”), the New York State Human Rights Law (“NYSHRL”), and any applicable local fair housing laws.
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HCR requires that multifamily development carry out a marketing strategy to attract prospective renters, regardless of race, creed, color, national origin, sexual orientation, military status, sex, gender identity, age, disability, marital status, or familial status.
Each development must create and execute an Affirmative Fair Housing Marketing Program (“AFHMP”), which provides the opportunity to conduct additional marketing to groups who may require targeted outreach in order to be made aware of and apply for housing.
AFHMPs are reviewed by HCR’s Fair & Equitable Housing Office (“FEHO”) to help ensure that HCR awardees comply with the FHA and NYSHRL and to help promote the adoption of fair housing best practices in housing funded by New York State.
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To streamline and standardize the review process, HCR updated its AFHMP policy and launched a new online template for submitting marketing plans.
The AFHMP Guide provides a detailed description of what is required for each section of your marketing plan:
http://www.nyshcr.org/AboutUs/Offices/FairHousing/AffirmativeMarketing.htm
Areas of Significant Interest During FEHO’s Review: Individual Assessment for Applicants with Criminal Convictions
Federal Requirements Pursuant to the Violence Against Women Act (“VAWA”)
Fair Housing Training
Outreach Efforts to “Least Likely to Apply” Populations
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VAWA 2013 provides additional housing protections for victims of violence, regardless of sexual orientation.
VAWA 2013 also expands VAWA protections to additional housing programs, which now includes the Low Income Housing Tax Credit (“LIHC”) program.
HCR requires all awardees to comply with the VAWA requirements as set forth in HUD’s final rule.
For additional information regarding complying with the VAWA requirements, please consult the AFHMP Guide and FEHO’s website.
http://www.nyshcr.org/AboutUs/Offices/FairHousing/AffirmativeMarketing.htm
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In April 2016, HUD released guidance detailing that a policy of automatically rejecting applicants with criminal convictions could violate the Fair Housing Act.
HCR issued its Re-Entry Guidelines to provide guidance for applying New York State’s antidiscrimination policies when assessing applicants for state-funded housing who have criminal convictions.
Tenant selection procedures may only consider convictions or pending arrests for offenses that involved physical danger or violence to persons or property or that adversely affected the health, safety and welfare of other people.
HCR guidelines require housing providers to conduct an individualized assessment when determining an applicant’s eligibility. The individualized assessment is not an appeal process. Instead, it must be conducted prior to an initial determination of an applicant’s eligibility.
The Re-Entry Guidelines and Individualized Assessment, as well as a webinar regarding this policy are all available on FEHO’s webpage
http://www.nyshcr.org/AboutUs/Offices/FairHousing/GPCC.htm
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Compliance with Section 3 of the federal Housing and Community Development Act of 1968
Section 3 is intended to ensure that when employment or contracting opportunities are generated because of HUD funds, preference must be given to low- and very low-income persons or business concerns residing in the community where the project is located.
The requirements of Section 3 apply to recipients of HUD funds (including, but not limited to, CDBG, HOME, and Section 8 PBVs) who receive an award in excess of $200k.
Section 3 also applies to contractors or subcontractors that receive a contract in excess of $100k for work on a Section 3 covered project.
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What are Section 3 Minimum Goals?
At least 30% of all NEW employees hired should be Section 3 residents;
- AND -
At least 10% of the total dollar amount of all Section 3 covered contracts for housing rehabilitation, construction, and other public construction should be granted to eligible Section 3 businesses ;
- AND –
At least 3% of the total dollar amount of non-construction (e.g., professional services) contracts should be granted to eligible Section 3 businesses
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“To the Greatest Extent Feasible”
Document efforts to recruit, train, employ and extend contracting opportunities to Section 3 residents and businesses.
Target low income persons in the project work area, including public housing residents and others who receive government assistance.
Develop procedures to notify Section 3 Business Concerns about contracting opportunities.
Establish relationships that will produce eligible business concerns, e.g. labor organizations/ unions, vocational/ trade schools, community colleges, etc.
Check the HUD Business Registry for potential businesses.
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HCR’s Fair and Equitable Housing Office is here to help you meet your HUD Section 3 goals and objectives:
Check the HCR FEHO Section 3 Webpage for Updates and Regional Training/TA Workshops and Match-Up Sessions at:
http://www.nyshcr.org/AboutUs/Offices/FairHousing/
Contact: FEHO Section 3 Staff by email or phone for additional information
Gwen Pope, HCR Section 3 Coordinator: [email protected]
Daniel Cracco, Fair Housing Specialist: [email protected]
Phone: 518-473-3089
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Daniel Sternberg
Senior Attorney
Fair and Equitable Housing Office
New York State Homes & Community Renewal
25 Beaver Street, New York, NY 10004
(212) 480-2285 | [email protected]
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Article 15A of the Executive Law promotes economic opportunities and equality of employment for minority group members and women in State contracting activities.
HCR fully supports these efforts and HCR’s Fair Housing & Equal Opportunity/Affirmative Action Office which has as a mission to coordinate and monitor compliance with Article 15A.
Preference in awards given to applications which include NYS-certified M/WBE as part of development team – including LIHC scoring feature.
All projects financed under the HTF, CIF, HOME, MIHP, SHOP, PHP, MPP, HWF and HDF must comply with HCR’s M/WBE participation requirements.
Award decisions include consideration of applicant’s past and current performance, including M/WBE performance
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The Service-Disabled Veteran Owned Business (SDVOB) program was signed into law by Governor Cuomo on May 12, 2014.
OGS has established an office to administer the program. http://ogs.ny.gov/core/SDVFAQ.asp
All state funded programs are subject to this law.
Although the universe of certified SDVOB firms is very small, HCR’s agency wide goal is 6% overall. We anticipate utilization within smaller projects.
This new category has been added to the MWBE exhibits in the contract documents.
Questions to [email protected]
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Requests for TA must come in centrally to [email protected]
Requests must include a complete TA package – see page 81 of the RFP
See special instructions for applicants proposing rehabilitation of occupied buildings
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