The newly designed HCR will now make their funding commitments or investments using the following framework:
Fundamentals: Is the investment feasible but for HCR’s investment? Are all necessary components identified and committed? Does the applicant have the proven experience and team members to successfully complete the investment?
Leverage: Does the investment leverage significant outside resources such as third party funds, local funds or support?
Outcomes: Does the investment produce a transformative or priority outcome? Such outcomes might include investing in the redevelopment of a deteriorated Main Street, a comprehensive neighborhood improvement program, refinancing of a state Mitchell Lama complex or providing affordable rental housing in our high cost suburbs.
Providing affordable housing- a decent place to live- is “transformative” in the eyes of the person who lives there! Does a good investment take priority over the needs of low income persons? Do good investment properties need public subsidies? Are investments in suburban outposts counter to the green initiative? What does this mean for investment in rural NY as we try to counter further dis-investment in our communities?
NEW YORK STATE RURAL ADVOCATES 