Provides permanent mortgage loan financing for multi-family rental properties.  Eligible properties include mixed-income developments with a mix of market rate and affordable units, and 100% affordable developments where all of the units are occupied by households with low and moderate income.  Loans are to provide permanent financing and will be funded with the proceeds of bonds issued by the HFA. Can be used for multi-family rental housing properties including acquisition and rehabilitation, and new construction projects.
 

Funding Category:	Loans for Construction or Rehabilitation of Multifamily Rental Housing
Target Population:	Low-to-moderate income tenants of multi-family properties
Funding Available:	Eligible loans may not be less than $1,000,000 or greater than $20,000,000. Loans in excess of $20,000,000 may be eligible; however, they will be subject to special HFA approval.
Application Information:	For further information and application package, contact: Ronald W. Schulman, Vice President, Director of Development, New York State housing Finance Agency, 641 Lexington Ave., New York, NY 10022; Tel. (212) 688-400, Ext.386
Contact:	The New York State Housing Finance Agency Offices
Links To More Info:	SONYMA/MIF Credit Enhancement Eligibility, Terms, Fees, Criteria, etc.
Administering Agency:	Housing Finance Agency (HFA) / State of NY Mortgage Agency (SONYMA)