Tax-Exempt Bond and Subsidy Financing Information for HFA 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
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Fall 2023 – HFA Term Sheet and Financing Guide
This guide will outline the terms of the program to promote affordable rental housing opportunities for low- to moderate- income individuals, families and seniors through flexible financing that supports a wide range of housing types, including new construction, adaptive reuse of non-residential buildings, and preservation of existing housing units.
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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.