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Secured Loan Rental Housing Program

Program (?) Secured Loan Rental Housing Program
Abbreviation SLRHP
Program Description

Under the Secured Loan Rental Housing Program (SLRHP), HFA promotes the construction, acquisition, and/or rehabilitation of multi-family rental housing developments by lending out proceeds from the sale of tax-exempt or taxable bonds. SLRHP may be used for private for-profit housing, non-profit sponsored housing, special needs housing, housing for educational or medical institutions, congregate care facilities for the elderly, and adult care homes.

For-profit developers must make either 20 percent of the units in a development available to tenants whose income does not exceed 50 percent of AMI or 40 percent of the units to tenants whose income does not exceed 60 percent of AMI. All HFA bonds must be credit enhanced by a construction and permanent lender, and the minimum loan amount for the program is $1,000,000 and the maximum is approximately $125,000,000.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Financing
Government Agency (?) NYS Department of Homes and Community Renewal
Program Information (?)  
Scale Small Scale (between 1 and 999 units produced)
Developer/Owners (?) For-Profit, Non-Profit
Property Information (?)  
Property Occupancy Vacant
Property Type Land, Building
Building Type Multi-family
Construction Type Rehabilitation, New Construction
Occupant Tenure (?) Rental
Occupant Income Restrictions (?) Very Low-Income
Other Targeting Information (?)

Option to house individuals with special needs, the elderly, and housing for medical/educational institutions

More Information NYS HCR
Available on CoreData.nyc? No

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