Supportive Housing Loan Program
Guidelines
The Supportive Housing Loan Program provides financing to
not-for-profit organizations to develop supportive housing for homeless
single adults, including people suffering from disabilities such as mental
illness and AIDS. Limited funding is available to create housing for families
with special needs and youth aging out of foster care. Both new construction and
rehabilitation proposals are eligible.
Supportive housing is intended to provide permanent housing in
which formerly homeless, low-income and disabled people can live independently,
with support and assistance provided through on-site social services funded by
the City and State. All tenants must be low-income and 60 percent of the units
must be rented to homeless persons residing in the City's emergency shelter
system. Projects for families with AIDS may also be considered on a limited
basis.
Eligible not-for-profit sponsors include social service providers
as well as housing and development organizations.
The HPD Supportive Housing Loan Program makes loans to non-profit sponsors to
develop permanent housing with on-site social services. Loans have a 30 year
term and neither principal nor interest are repaid if the sponsor complies with
the terms of a regulatory agreement requiring that the property be used for
housing for low income homeless disabled tenants for 30 years. All units
are affordable to persons earning 60% or less of Area Median Income. The loan
amount may be up to $90,000 per unit and the Division of Special Needs housing
will work with sponsors to secure gap financing, usually for tax credits
or other sources. Projects may be new construction or rehab, on city-owned
or privately owned land; acquisition costs up to appraised value are covered by
the loan.
Design guidelines and underwriting standards are available for download
here: Supportive Housing Loan
Program
For more
information please contact:
Raymond Hodges, Acting
Deputy Director of Planning
NYC Department
of Housing Preservation and Development
Division of Special Needs
Housing
100 Gold Street Room 9C-3, New York, NY 10038
tel, 212
863-6036
fax, 212 863-6488
email hodgesr@hpd.nyc.gov
For more information about supportive housing, visit the
website of the Supportive Housing Network of New York
