HPD invites nonprofit developers to submit applications to be qualified under the New Construction Down Payment Assistance RFQ.
Applicants qualified through the New Construction Down Payment Assistance RFQ will be eligible to apply for down payment assistance from private down payment assistance lenders to support the acquisition of privately-owned land or vacant properties in NYC in order to develop affordable multifamily rental housing.
Qualified Applicants must be strong and experienced nonprofit organizations with interest and demonstrated capacity to maintain the long-term physical and financial viability, regulatory compliance, and responsible ownership of affordable housing. Prospective down payment assistance lenders may wish to use HPD’s Qualified List as a preliminary requirement or step in their review process.
Applicants qualified through the RFQ wishing to apply for down payment assistance funding will be subject to the applicable lender’s application, underwriting and credit approval processes. For example, applicants to the NYC Down Payment Assistance Fund must meet the requirements of a Notice of Funding Availability in order to be eligible for down payment assistance.
A pre-submission conference will be held on Wednesday, December 12th from 12:30- 2pm in Room 8F-14 at 100 Gold Street, New York, NY 10038. Please complete the New Construction Down Payment Assistance RFQ Pre-submission Conference form to RSVP to the event.