Overview

The Rural and Urban Community Investment Fund (CIF) supports the creation of commercial, retail, and community facilities that serve the needs of affordable housing residents and the broader community, as well as the preservation of existing small-scale rural affordable housing.

CIF may be requested as a standalone source or in conjunction with other HCR financing.

Non-residential components must be in support of an HCR-regulated affordable housing development (new or existing). Please see the term sheet for further details.

Applicants are required to provide a 1/3 match of the requested CIF funding amount. Please see the term sheet for further details.  

Eligible Applicants

  • Not-for-profit corporations or charitable organizations, or their wholly owned subsidiaries
  • For-profit developers

How to Apply for CIF

There are three ways to apply for CIF:

  • Through the NYS Housing Finance Agency (HFA), for new construction or preservation projects utilizing tax-exempt bonds, other subsidy loans and/or 4% Low-Income Housing Tax Credits (LIHTC).
  • Through the annual 9% Multifamily Finance Request for Proposals (RFP), either for CIF only (CIF standalone projects) or in combination with 9% LIHTC and/or other subsidy programs. For CIF standalone projects applying through the RFP Round, rural mixed-use projects or non-residential projects (core and shell only) are eligible.
  • Through CIF Open Window, projects may apply for CIF on a rolling basis (year-round). Applicants may request CIF as a standalone source or in conjunction with other HCR financing for small rental projects. This option may work for:
    • Rural housing preservation projects
    • Non-residential space supporting existing HCR-regulated affordable housing
    • Projects that need flexible funding outside the annual 9% Multifamily Finance RFP round

Please review the CIF term sheet and contact the Development Director (DD) for your region to discuss funding opportunities (prospective applicants contact the DD for all 3 paths or assistance in picking a path).

Program Information

CIF Open Window Application

A technical assistance (TA) session is required for all prospective applicants to CIF Open Window.

CIF Open Window applicants must use the CIF stand-alone application included in the latest Multifamily Finance 9% LIHTC RFP application materials. See Exhibit A-1a of the Project Detail Application for the CIF Standalone submission checklist. 

CIF Program Forms

Required forms for awarded CIF non-residential projects. 

  • CIF Non-Disturbance and Attornment Agreement

    A legal agreement that protects non-residential tenants by outlining their rights if property ownership or financing changes in a CIF-supported project. It must be executed prior to the CIF non-residential loan closing. When you select this file, it will save to your device's downloads folder.

    Download

Contact Us

For assistance determining eligibility for HCR’s Multifamily Development Programs and general inquiries about the application process, please contact the Development Director assigned to the county in which the proposed project is located.

 
RegionContactCounties Served
Upstate EastDarren Scott
[email protected]
518-795-5016		Albany, Clinton, Columbia, Dutchess, Essex, Franklin, Fulton, Greene, Hamilton, Herkimer, Jefferson, Lewis, Montgomery, Oneida, Orange, Otsego, Putnam, Rensselaer, Saratoga, Schenectady, Schoharie, St. Lawrence, Sullivan, Ulster, Warren, and Washington.
Upstate WestLeonard Skrill
[email protected]
518-461-6591		Allegany, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Cortland, Delaware, Erie, Genesee, Livingston, Madison, Monroe, Niagara, Onondaga, Ontario, Orleans, Oswego, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne, Wyoming and Yates.
DownstateRoss Karp
[email protected]
212-872-0395		Bronx, Kings, Nassau, New York, Queens, Richmond, Rockland, Suffolk, and Westchester.