NYS HOME Homebuyer Development 2024
This program provides funding to non-profit housing developers to create affordable single-family homes for low and moderate-income families.
The NYS HOME Program, administered by the Housing Trust Fund Corporation’s Office of Community Renewal (OCR), invites eligible non-profit housing developers to apply for HOME Investment Partnerships Program funds. The program aims to expand the supply of decent, safe, and affordable housing for low and moderate-income families. Approximately $10 million is available for the development of single-family homes to be sold to eligible buyers. Applications are accepted on a rolling basis from April 17, 2024, to October 31, 2024.
Award Range
$241,176 - $250,000
Total Program Funding
$10,000,000
Number of Awards
Not specified
Matching Requirement
No
Additional Details
Funding provided as a 0 percent interest loan forgivable upon sale to an eligible buyer within 9 months of construction completion. Disbursements made on a cost incurred basis as construction progresses. Developer fee capped at 15 percent of development costs.
Eligible Applicants
Additional Requirements
Applicants must have been in existence for at least one year prior to application, providing recent and relevant residential housing services.
Geographic Eligibility
All
Application Opens
April 17, 2024
Application Closes
Not specified
Grantor
New York State Homes and Community Renewal
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