Interested in developing affordable housing in Tompkins County?

The Community Housing Development Fund – 2017 Open Funding Round: Notice of Funding Availability (NOFA) is now available. 
The Community Housing Development Fund is a joint effort of Tompkins County, the City of Ithaca and Cornell University. The Fund helps communities and organizations throughout Tompkins County respond to the diverse affordable housing needs of local residents. Projects must include units of affordable housing for low and moderate income households.

Community Housing Development Fund Overview
The Community Housing Development Fund is designed to ensure that newly constructed or rehabilitated housing units remain affordable to successive buyers or renters. Permanent affordability is retained by such measures as income qualifying prospective buyers or renters and limiting the sales price or rent of units; separating the ownership of the land from the ownership of the housing unit, whereby only the housing unit is purchased by the homebuyer, and by restricting the amount of equity that a homeowner can take from the housing unit upon sale (Community Housing Trust model); or other equivalent mechanisms. Eligible uses of the fund include the cost of land, construction, or any development costs that will reduce the cost of new or newly rehabilitated non-student housing units developed, provided these housing units remain permanently affordable by using a mechanism such as the Community Housing Trust or another acceptable mechanism.

The 2017 open funding round provides a series of rolling deadlines and expected funding decision dates to allow applicants to plan their applications based on their project timelines. These deadlines and response dates are as follows:

Application Received By 4:00 PM:                         Funding Decision By:
Monday, March 20, 2017                                                     Friday, April 21, 2017
Monday, July 24, 2017*                                                       Friday, August 25, 2017*
Monday, October 23, 2017*                                                Friday, November 24, 2017*

*Applications for all projects are welcome during these times, regardless of whether or not tax credits are being sought to support a project.

For more information about the Community Housing Development Fund, to receive the NOFA, or for questions pertaining to the NOFA, please contact the Tompkins County Planning Department at 274-5560 or email planning@tompkins-co.org. The NOFA can be picked up at 121 East Court Street, Ithaca, NY or is available online at:
http://www.tompkinscountyny.gov/planning/housing-choices-housing-fund.

Applications for the NOFA are being accepted on a rolling basis, with the last applications due by Monday, October 23, 2017 at 4:00 P.M.

Contact: Megan McDonald, Tompkins County Planning Department mmcdonald@tompkins-co.org

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