HURRICANE SANDY RECOVERY FUNDING
With more than 20 years of experience in developing, constructing and operating multifamily housing communities, we are prepared to help you with CDBG-DR funds for new construction, rehabilitation and/or reconstruction of multifamily developments in the Hurricane Sandy target areas in New York and New Jersey.
Competitive environments require that you have a complete understanding of how the use of CDBG-DR funds affects your development. It can present numerous pitfalls for those unfamiliar with the level of compliance required using these federal funds.
At the same time, leveraging these funds in your development provides not only recovery housing, but also affordable housing for the betterment of your community.
It can be used a catalyst for mixed income housing in many markets, serving all income levels of residents, including full market-rate units if that is an advantage to your financial structure.
Remember, there are significant tax and compliance issues associated with the deployment of these funds, and they must be carefully considered to ensure your planned outcome.
We not only alert you to potential pitfalls, we also give you the competitive advantage of knowing how to mix and match these funds to attain the best project possible. Sonoma offers the advantage of 10 years of experience with hurricane relief funds utilized after hurricanes Katrina, Dolly, Ike, and Gustav.
Note that once the funds are available, timelines are short. Preparing in advance and participating in the rule-making process is essential.
Our clients include owners, developers, management companies, and contractors.Sonoma Housing Advisors is here to help you achieve winning results.