Tax-Exempt Bond and Subsidy Financing Information for Affordable Rental Housing
The New York State Housing Finance Agency (HFA) Affordable Rental Housing Program provides tax-exempt bond financing that generates 4% Federal Low Income Housing Tax Credits (“LIHTC”) for multifamily rental housing projects developed by private for-profit and not-for-profit owners. Bond-financed projects can be combined with subsidy programs as well as New York State Low-Income Housing Tax Credits ("SLIHC"). Additional capital subsidies are available to facilitate the development and preservation of affordable housing.
Term Sheets
Low Income Housing Tax Credit
Click below to learn more about Federal Low Income Housing Tax Credit.
Applications
Projects requesting bond and/or subsidy financing should complete the HFA financing and underwriting applications.
Clean Energy Initiative Materials
Sustainability Clean Energy Initiative page
*Adaptive Reuse projects with SHPO designation can apply to receive CEI funding under the CEI Substantial Rehabilitation term sheet.