Applicants are invited to apply for the Dutchess County/City of Poughkeepsie HOME Investment Partnership Program (HOME).
Donor Name: Dutchess County Government
State: New York
County: Dutchess County (NY)
Type of Grant: Grant
Deadline: 12/15/2023
Size of the Grant: $500,000 to $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The purpose of the HOME Investment Partnership Program (HOME) is to create affordable housing throughout Dutchess County, including the City of Poughkeepsie.
Priorities
- Rental Housing
- Owner-Occupied Housing
- Homelessness-Transitional and Permanent Housing
Funding Information
County of Estimated 2024 HOME Funds:
- Dutchess County: $864,500
- City of Poughkeepsie: $465,500
Eligible Activities
The following specific activities are eligible:
- Rehabilitation
- Conversion – Conversion of any existing structure from a non-affordable housing use to affordable housing.
- New Construction – Includes: newly built developments; existing developments that involve the addition of new units outside the existing walls of the structure; and units that received their initial certificate of occupancy within the one year prior to the commitment of HOME funds.
- Relocation Costs – Any occupied property must include tenant relocation costs as applicable.).
- Acquisition of property and/or vacant land – The Program will only consider these costs for non-profit agencies. HOME funds can only be used for acquisition when HOME or other funds have been committed for the full development cost.
- Site Improvements – Must be “in keeping with improvements to surrounding standard developments.”
- Demolition – The Program will only consider demolition costs for non-profit agencies. HOME funds can only be used for demolition when HOME or other funds have been committed for full reconstruction cost.
- Development “Soft” Costs – The Program will only consider these costs for non-profit agencies. These must be reasonable and necessary, paid for by the applicant, and rendered by a third party. These funds may only be reimbursed once all approvals and funding for the project are secured. The County cannot pay for these expenses in the pre-development phase of a project. The following is a list of acceptable soft costs:
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- Finance-related costs such as origination fees, credit reports, title reports and updates, recording fees, legal fees, appraisal, loan processing fees, and other customary fees approved by the Program. The applicant’s legal fees should be reasonable and necessary.
- Construction-related costs such as architectural and engineering fees, preparation of work writeup/cost estimate, and builder/developer fee. The Program requires that applicants sign fixed-fee contracts with architects/engineers. Design costs (including but not limited to: as-builts, final plans and specifications, cost estimates, building permits, planning, and zoning approval) will be limited to 7% of the development’s proposed construction cost. Development coordination costs (including but not limited to: bidding coordination and review, progress inspections, progress payments, change orders, design changes, and final sign-off) will be limited to 3% of the development’s proposed construction cost. These percentages are maximums, not guaranteed percentages. They do not expect the cost for a 4-unit moderate rehabilitation to be as high as 4-unit gut rehabilitation. All costs over the percentages outlined above and/or what the Program considers reasonable will be kept off-budget and paid by the applicant.
- Development audit costs.
- Affirmative marketing and fair housing.
Eligible Property Locations
Rental housing located in any Dutchess County municipality is eligible, but priority will be given to:
- Housing in communities with limited affordable opportunities, or in the case of the City of Poughkeepsie in neighborhoods with limited affordable opportunities, in order to increase housing choice for all residents.
- Housing that:
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- Is located in established or emerging town/village centers
- Is located along transit routes, and near employment and services
Eligibility Criteria
Both private for-profit and non-profit developers are eligible applicants.
Eligible applicants must be:
- Current on all municipal taxes and fees and have a record of timely payment on these items including but not limited to: property taxes, water and sewer charges, and other types of loan accounts.
- Current on mortgages for all property owned by the applicant.
- In compliance with all the rules and regulations on other developments funded by the HOME Program or other government programs.
For more information, visit Dutchess County Government.
