Asset Management

Asset Management


HCR's Asset Management / Low-Income Housing Credit Compliance Monitoring Program is designed to ensure that limited housing resources are used for the purpose which they were originally funded and benefit the population they were intended to serve.

The program requires annual certification by project owners and certification compliance review by HCR, collection and processing of compliance monitoring fees, on-site compliance monitoring of each project-every three years, resolution and reporting of all non-compliance issues, and technical assistance to project owners.

HCR’s current Asset Management portfolio consists of 1,209 projects with 4,867 buildings and 64,302 tax credit units.

LIHTC Projects for Sale Under Qualified Contract

Contact for more information:

Dan Irizarry, Asset Management Unit
Phone (518) 474-4016; Fax (518) 486-3366
NYS Homes & Community Renewal
The Hampton Plaza
38-40 State Street, Albany, NY 12207

Qualified Allocation Plan

Part 2040 Low-Income Housing Credit Qualified Allocation Plan

  • LIHC Qualified Allocation Plan (effective 11/20/2013)

  • Previous LIHC Qualified Allocation Plan 

Section 2040.14 New York State Low-Income Housing Tax Credit Program

  • SLIHC Regulations (effective 11/20/2013)

  • Previous SLIHC Regulations

If you have any questions about these documents or their applicability to a specific project, please feel free to contact your DHCR Regional Office or Arnon Adler, Director, Low-Income Housing Credit Program at (518) 486-5044.

Qualified Contracts

HCR VAWA Bulletins and Forms

HCR Fair Housing Guidance and Materials

To obtain the guidance and materials you require, please visit Fair Housing below:

Fair Housing


Forms and documents.


    Lease HOME

    Lease for project units with home funds - this is a residential lease between the owner and tenant.




    Owners Approval Certification 100% LIHTC Properties

    In accordance with the Housing Assistance Tax Act of 2008 new procedures have been developed for the Agency to grant re-certification waivers. The three (3) step procedure has been outlined below. All questions should be directed to the Asset Manager assigned to the project.




    Sample Lease Rider Mixed Income

    RIDER TO LEASE: For Low Income Unit Tenancy in a Project Financed by New York State Housing Finance Agency Using Tax Exempt Bond Proceeds and Benefitting from Low-Income Housing Tax Credits




    Management Agreement Guidelines

    Guidelines that state conditions which would require the Managing Agent to consult the Owner prior to taking action (i.e., maximum amount Agent can spend) and when management may act without consulting the Owner.