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.

$250,000

Active

Rolling Deadline

Grant Description

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.

Funding Details

Award Range

$241,176 - $250,000

Total Program Funding

$10,000,000

Number of Awards

Not specified

Matching Requirement

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.

Eligibility

Eligible Applicants

Nonprofits

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

Key Dates

Application Opens

April 17, 2024

Application Closes

Not specified

Contact Information

Grantor

New York State Homes and Community Renewal

Homeprogram@hcr.ny.gov

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