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Homes and Community Renewal

Notice Of Credit Availability (NOCA) - State Credit

PERSONS/FIRMS THAT CONSTRUCT AND/OR REHABILITATE RENTAL HOUSING FOR LOW-INCOME HOUSEHOLDS

Tax credit available under the New York State Low-Income Housing Tax Credit Program

Description: The New York State Division of Housing and Community Renewal (DHCR) announces the availability of New York State tax credit under the New York State Low-Income Housing Tax Credit Program (SLIHC or State Tax Credit) which is authorized under Article 2-A of the Public Housing Law. Request For Proposals (RFP)/Application packages for site-specific project applications will be available beginning November 12, 2008. DHCR expects to have approximately $4 million available for SLIHC reservations. The maximum annual State Tax Credit allocation per unit that may be requested is $20,000. The maximum annual State Tax Credit allocation per project that may be requested is $750,000. DHCR reserves the right to allocate all, a portion of, or none of the anticipated 2009 State Tax Credit based upon SLIHC availability, the competitiveness of the applications received, the applicant's ability to meet DHCR criteria for funding and the applicant's ability to further the State's housing goals, including but not limited to: preservation of affordable housing; community revitalization; green building technologies and practices; and collaboration with other governmental agencies. Compact disks (CDs) containing application materials will be available at application workshops, at DHCR Regional Offices, and the materials will be on the DHCR web site. THE 2009 COMMUNITY DEVELOPMENT ONLINE (CDOL) SYSTEM APPLICATION IS EXPECTED TO BE AVAILABLE ON THE DHCR WEBSITE, www.nysdhcr.gov, BY DECEMBER 1, 2008. Applicants may make a special request, based on demonstrated need, for DHCR approval to utilize a Word/Excel fillable paper application in lieu of CDOL. Requests must be in writing and received not later than January 12, 2009. Applicants are responsible for using the proper application when applying for funding. Applications which include requests for SLIHC along with requests for assistance through one of the programs available through DHCR's Unified Funding 2009 process must be received by DHCR by 5:00 PM, February 11, 2009.

Applications requesting SLIHC only will be accepted continuously until further notice.

For those applicants with prior approval to submit a Housing Trust Fund Corporation paper application, applications will be accepted only at the following address:

NYS Division of Housing and Community Renewal
NYS Low Income Housing Tax Credit Program
Hampton Plaza - 6th Floor
38-40 State Street
Albany, New York 12207

NO APPLICATIONS WILL BE ACCEPTED AFTER THIS DATE OR AT OTHER LOCATIONS

Individuals who hand deliver applications must have picture identification and a transmittal letter, on organization letterhead, stating their name and authorizing that person to deliver the application. Applications delivered by commercial carrier must have a complete and legible return address. Failure to comply with these requirements may result in an application not being accepted.

Applicants should also be aware of the following:

APPLICATION WORKSHOPS:

PROJECT application workshops will be conducted at the following times and locations:

Syracuse
Wednesday, November 12th at 10:00 AM
Onondaga County Public Library
The Curtain Auditorium
447 S. Salina Street
Syracuse, NY

Buffalo
Thursday, November 13th at 10:15 AM
Holiday Inn Express
601 Dingens Street
Buffalo, NY

Capital District
Tuesday, November 18th at 10:00 AM
Hampton Plaza Ballroom
38-40 State Street
Albany, NY

New York City
Thursday, November 20th at 10:30 AM
NYC Regional Office, Room 510
25 Beaver Street
New York, NY

View Workshop Agenda

Compact disks containing application materials will be available starting one half-hour before each workshop. Materials will also be available on the DHCR web site (http://www.nyshcr.org) beginning on November 12, 2008.

The workshops will include a discussion of project application requirements and the Unified Funding process. A workshop agenda will be posted on the New York State Division of Housing and Community Renewal web site (see above) by November 10, 2008. Interested parties should refer to the web site to familiarize themselves with the agenda items.

For additional information, please contact one of the DHCR Regional Offices or visit our website.

Last updated on 11/10/08