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Staff details HOME rules, rent and income limits; East End Lofts and RECAP projects highlighted
Summary
County staff outlined HOME program rules (income/rent limits, subsidy caps, affordability periods) and gave project examples including East End Lofts (66 units, $1.4M HOME) and RECAP (116 apartments under construction).
Nicole Andersen, Director of Community Development, and Assistant Director Erin Cousins gave the Housing Task Force a briefing on HOME program mechanics and local projects on April 28. They said rental housing financed with HOME generally serves households earning below 60% of Area Median Income (AMI) and noted that in projects with five or more assisted units at least 20% of units must be for households earning below 50% of AMI.
Staff provided specific figures: a one-bedroom unit's maximum rent was listed as $1,153; the income limit for a one-person household was cited at approximately $51,660 and $59,000 for a two-person household; HUD maximum subsidy was cited at $215,122 for a one-bedroom unit. Andersen said homeownership projects are limited to households earning below 80% of AMI. Project examples included the RECAP development in the City of Newburgh (116 apartments under construction) and East End Lofts, developed by RUPCO, which received $1.4 million in HOME funding for 66 mixed-income units with commercial space. Erin Cousins told the committee that 33 East End Lofts units were occupied and the remainder are being filled through a New York State Homes and Community Renewal lottery.
The briefing noted that HOME grants often act as gap financing and that projects commonly combine HOME with state funding, which can extend affordability periods to 50 years or more. Andersen and Cousins emphasized program compliance requirements and HUD subsidy limits as constraints project teams must manage.
