Chapter 67 of the Laws of 1985 created the Housing Trust Fund Corporation (HTFC), a public benefit corporation which administers the Low-Income Housing Trust Fund Program (HTF). The Housing Trust Fund Program was established under Article XVIII of the Private Housing Finance Law (PHFL) to help meet the critical need for decent, affordable housing opportunities for people of low income. The Corporation, under the direction of a Board of Directors chaired by the Commissioner of the Division of Housing and Community Renewal (DHCR), receives staff and administrative support from DHCR.

HTF provides funding to eligible applicants to construct low-income housing, to rehabilitate vacant or under-utilized residential property (or portions of a property), or to convert vacant non- residential property to residential use for occupancy by low-income homesteaders, tenants, tenant-cooperators or condominium owners. HTF can also provide seed funding to eligible non- profit applicants who need financial assistance in developing a full HTF project application. Since 1985, HTF has received annual appropriations of at least $25 million; a nominal amount of each appropriation can be used for administration of the program.

Funding Category:	Construction, Rehabilitation, Seed Money for Application Preparation
Target Population:	Low-income persons and families. 1) In cities with a population of one million or more, persons and families whose incomes do not exceed 80 % of the median income for the MSA in which a project is located. 2) In portions of the State outside of cities with a population of one million or more persons and within a metropolitan statistical area (MSA), those persons and families whose incomes do not exceed 90 % of the median income for the MSA in which the project is located, or 90% of the median income for the State whichever is greater. 3) In portions of the State outside of a MSA, those persons and families whose incomes do not exceed 90 percent of the median income for the county in which a project is located, or 90 percent of the median income for the State, whichever is greater.
Funding Available:	HTFC expects to make approximately $29 million available to fund project applications for the HTF Program under UF 2002. Funding under the Low-Income Housing Trust Fund is limited to $55,000 per unit. HTFC has the discretion to make available up to an additional $20,000 per unit based on the construction cost in the area, location of the project and the impact of the additional funding on the project's affordability to its low-income occupants. Applications requesting HTF funding for projects should not exceed $2.0 million.
Application Information:	DHCR Notices of Funding Availability, UF2002 Application Forms
Contact:	DHCR Regional Office
Links To More Info:	DHCR Housing Trust Fund Description DHCR Capital Programs Manual, Housing Trust Fund, Section 2.01 DHCR Housing Programs of New York State 2002
Administering Agency:	Division of Housing and Community Renewal (DHCR)