The Peru Gazette

Albany, July 14, 2026 – Governor Kathy Hochul today announced proposals are now being accepted for the State’s annual 9% Low-Income Housing Tax Credit awards, which will make available up to $58 million in 9% Federal Low-Income Housing Tax Credits (LIHTC), $10 million in New York State Low-Income Housing Tax Credits (SLIHC) and more than $200 million in State Capital subsidy loan programs. The program, administered by New York State Homes and Community Renewal (HCR), will accept proposals through September 10, 2026.

“Families across New York deserve safe, sustainable, affordable housing, and my administration is committed to providing it,” Governor Hochul said. “These $270 million in targeted investments will be a critical part of our five-year Housing Plan and go hand-in-glove with our affordability agenda, allowing developers to build and preserve affordable housing faster and more efficiently in every corner of the state. The resulting projects will transform neighborhoods, lower costs for New Yorkers and strengthen our communities.”

The 9% LIHTC Request for Proposals, issued once a year, is a highly competitive process through which HCR seeks proposals for the creation and preservation of high-quality affordable housing throughout the State. It is a central component of Governor Hochul’s $25 billion comprehensive five-year Housing Plan to create or preserve more than 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations.

Eligible applicants proposing affordable multifamily housing projects can apply for the 9% LIHTC; SLIHC; and subsidy loan financing from the Low-Income Housing Trust Fund Program, Rural and Urban Community Investment Fund, Supportive Housing Opportunity Program, Public Housing Preservation Program, Middle Income Housing Program, Senior Housing Program and LGBTQ+ Affirming Senior Program, HOME Program, New Construction Program, Clean Energy Initiative Program and Multifamily Solar Fund.