State Rental Assistance Essential to RD 515

In early April there will be a notice of solicitation for applications for the RD 515 new construction program. NY always competed extremely well because it provided State Rental Assistance to leverage these funds. A State Allocation of Project Based Section 8 is not considered State Rental Assistance. Will NY have new Rental Assistance Units to use with this new 515 funding or will the federal money go to other States for the first time ever? With a timely budget and an allocation for State Rental Assistance, it is possible to leverage these federal rental housing funds for new units in rural NY.

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