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06
DEC
2017

AHC NOFA Issued

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Published 12/6/17 By AHC:

 

Pursuant to the State budget for Fiscal Year 2016-2017, AHC received an appropriation of $26,000,000 for its Program. AHC is now issuing a new Notice of Funding Availability (“NOFA”) (see attachment) to award up to $25,250,000 in AHC funds for this funding round. To apply for AHC funds, you are requested to submit a complete response to the Request for Proposals (“RFP”). The RFP can be downloaded from the Agency’s website, here: http://www.nyshcr.org/Topics/Municipalities/AHCGrants/. Please note that the RFPs are fillable forms. To receive a copy via mail, please contact Ms. Caroline Telfer at caroline.telfer [at]nyshcr.org or (212) 872-0438. Please indicate which application you would like to receive, as there are specific applications for each project type – New Construction, Acquisition/Rehabilitation, and Home Improvement. Eligible applicants, defined to include municipalities, housing authorities, housing development funds companies, and not-for-profit corporations or charitable organizations, are encouraged to apply.

 

The New York State Affordable Housing Corporation (“AHC”), a subsidiary of the New York State Housing Finance Agency (“Agency”), is a public benefit corporation created pursuant to State legislation for the purpose of providing financial assistance, in conjunction with private and other public investment, for the construction, acquisition and rehabilitation, and improvement of owner-occupied housing throughout the State of New York. Since its creation in 1985, AHC has awarded more than $820,000,000 in grant funds to assist more than 63,000 units of affordable housing statewide, through its Affordable Home Ownership Development Program (the “Program”).

 

AHC wishes to promote greater participation in its Program by encouraging new eligible applicants throughout the State to apply, while continuing to receive applications from prior applicants. AHC welcomes the opportunity to develop new partnerships and new types of projects to assist in the development of affordable housing in communities not served by the Program in the past.  Special consideration will be given to Acquisition/Rehabilitation applications that involve SONYMA CRF properties. These applications will be accepted and awarded on a rolling basis as will any applications that are submitted through future programs announced under the Governor’s Housing Plan. AHC will be accepting applications immediately after the NOFA is released until no later than Friday, February 16, 2018. It is our hope that this will allow enough time for all our applicants to submit a thoroughly completed application.

 

This RFP also includes contact information for the State of New York Mortgage Agency (“SONYMA”) Project Set-Aside program.  A request for SONYMA mortgage financing can be made simultaneously with the AHC application.  Subject to review and approval, a SONYMA commitment is valid for one year.  SONYMA approval is made independent of the AHC grant award.

 

Thank you for your interest in the Affordable Home Ownership Development Program.

 

Sincerely,

Dominic A. Martello

Vice President

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