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Directory of NYC Housing Programs

New York Housing Trust Fund (State) (NY HTF)

The New York Housing Trust Fund (NY HTF) program provides funding in the form of grants to eligible applicants to construct low-income housing, rehabilitate vacant or distressed or underutilized residential property, or convert vacant or underutilized non-residential property to residential use for occupancy by low-income homesteaders, tenants, tenant-cooperators, or condominium owners. The NY HTF also provides seed funding to eligible non-profit applicants who need financial assistance to develop a full HTF project application. NY HTF projects must be located in blighted, deteriorated, or deteriorating areas as determined by New York State Homes and Community Renewal (HCR) and defined by statute. The vacancy requirement does not apply to one- and two-unit residential properties if rehabilitation creates at least one additional unit. Funding is limited to $125,000 per unit and project sponsors must ensure long-term use (15 to 30 years) by low-income persons. Up to 10 percent of a NY HTF award can be used for a community service facility. The NY HTF is administered along with several other programs by the Housing Trust Fund Corporation, an entity related to HCR.

Program Information Help Icon

  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Medium Scale (between 1,000 and 4,999 units)
  • Timeframe: 1985 - Present
  • Occupancy tenure: Rental, Homeownership
  • Construction Type: Rehabilitation, New Construction, Non-residential Conversion
  • Building Type: One- to Four-family, Multi-family
  • Developers/Owners: For-profit, Non-profit, Government
  • Geographic Restrictions: Projects must be located in an area which is blighted, deteriorated or deteriorating, or has a blighting influence on the surrounding area, or is in danger of becoming a slum or blighted area.
  • Income Restrictions: Households must have an annual income of up to 80 percent of Area Median Income (AMI).

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