development with vision. O UR MISSION : H UDSON R IVER H OUSING - PowerPoint PPT Presentation

Housing with compassion… development with vision.

O UR MISSION : H UDSON R IVER H OUSING PROVIDES A CONTINUUM OF SERVICES THAT IMPROVES LIVES AND COMMUNITIES THROUGH HOUSING WITH COMPASSION AND DEVELOPMENT WITH VISION . W E CREATE PATHWAYS OUT OF HOMELESSNESS THROUGH EMPOWERMENT , EDUCATION , AND ADVOCACY . W E STRENGTHEN COMMUNITIES BY DEVELOPING AND PRESERVING AFFORDABLE HOUSING AND CREATING OPPORTUNITIES FOR PEOPLE AND PLACES TO THRIVE . .

Full Spectrum of Real Estate Development Activities Historic Rental & New Renovation Preservation Homeownership Construction

Key NYS Capital Resources Consolidated Funding Resources  Empire State Development (ESD)  New York Main Street Program  Office of Parks and Historic Preservation (Environmental Protection Fund)  Energy Research & Development Authority (NYSERDA) Multifamily Programs - Unified Funding Resources  9% Low-Income Housing Credit  NYS Low Income Housing Tax Credit (SLIHC)  Low-Income Housing Trust Fund Program  Supportive Housing Opportunity Program (SHOP)  Middle Income Housing Program  Rural and Urban Community Investment Fund (CIF) Multifamily Open Window  NYS Multifamily Preservation Program (MPP)  NYS Small Building Participation Loan Program (PLP) OTHER  HOME Local Program  Small Rental Demonstration Initiative (SRDI)  NYS Affordable Housing Corporation  NYS OTDA Homeless Housing & Assistance Corporation (HHAP)  NYS Housing Finance Agency (HFA)

Funding Sources Historic Tax Credits $1,896,114 NYS ESD $850,000 County HOME $541,756 Environ Protect Fund $500,000 Central Hudson $125,000 Urban Initiatives $200,000 TD Bank Grant $100,000 Neighborworks $692,423 Dept. Env Conservation $99,944 HRH Equity $359,542 Deferred Dev Fee $740,000 Leviticus Loan $500,000 Total $6,604,779 8 N Cherry Street Poughkeepsie Underwear Factory

Funding Sources LIHTC $16,397,190 County HOME $157,771 CPC $1,900,000 NYS SHOP $2,655,000 Neighborworks $100,000 NYSERDA $67,800 HRH Equity $390,627 Rose Street Total $21,668,388 FallKill Commons on Rose

NYS Small Rental Demonstration Initiative (SRDI) Maximize Energy Efficiency Project 36 Bement 38 Bement 239 Church

DISCUSSION - FUNDING CHALLENGES - COMPLEX REQUIREMENTS - FINDING THE RIGHT SOURCE - TIMING - LAYERING OTHER SOURCES - HAVING BACK UP PLAN - OTHERS?

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