2025 Multifamily Finance 9% LIHTC RFP
Annual NYS HCR grant offers 9% LIHTC and state funding for the construction, rehabilitation, and preservation of affordable multifamily housing aligned with state housing priorities.
Funder: Homes and Community Renewal
Due Dates (Anticipated): August 2026: Deadline to request Technical Assistance session, submit Design Unit occupied rehabilitation package, and/or request LIHTC/SLIHC application fee deferral | August 2026: Design Waivers due by 3:00 PM ET | August 2026: Deadline to request access to application dropbox by 3:00 PM ET | September 2026: Complete applications due via Aspera dropbox by 11:59 PM ET
Funding Amounts: 9% LIHTC: up to $50M total; max $2.835M/project (NYC/LI counties), $1.925M/project (rest of state); other programs $3M–$65M each; typical regulatory period 50 years.
Summary: Annual RFP offering 9% Low-Income Housing Tax Credits and a suite of state financing programs to support new construction, rehabilitation, and preservation of affordable multifamily housing in New York State.
Key Information: Applicants must attend a technical assistance session with HCR within 12 months prior to applying.
Description
This annual funding opportunity from New York State Homes and Community Renewal (HCR) solicits proposals for the development, rehabilitation, and preservation of affordable multifamily rental housing across New York State. Applicants may request 9% Low-Income Housing Tax Credits (LIHTC) and access a range of state subsidy programs, including the State Low-Income Housing Tax Credit (SLIHC), Housing Trust Fund (HTF), Supportive Housing Opportunity Program (SHOP), Public Housing Preservation (PHP), Middle Income Housing Program (MIHP), Senior and LGBTQ+ Affirming Senior Housing (SENR), HOME ARP, Clean Energy Initiative (CEI), Solar For All (SFA), and others.
The RFP supports projects that advance state housing goals such as community revitalization, integrated supportive housing, projects in well-resourced areas, workforce opportunity, senior housing, and preservation of existing affordable housing. All applicants must participate in a pre-application technical assistance session with HCR staff and meet comprehensive threshold and eligibility criteria.
