Special Needs Financing

CPC finances residential properties for nonprofit agencies serving persons with "special needs" -- physical and/or mental disabilities.

We work to improve the housing situation for some of New York's most vulnerable citizens. These include people with developmental disabilities, mental health consumers, the homeless, the frail elderly, people with HIV/AIDS, and other under-served communities.

Our experience in financing "special needs"community housing helps New York State's nonprofit agencies meet their mission. CPC offers capital funds and expertise to organizations statewide that need help to develop this type of housing, while the state often provides operational funding for care.

CPC works closely with a number of Federal, State and City agencies to assist in smooth project completion, including: New York City's Department of Health, The New York State Office for People with Developmental Disabilities (OPWDD), Office of Mental Health (OMH), New York State Homes and Community Renewal (HCR), NYC Department of Housing Preservation and Development (HPD) and US Department of Housing and Urban Development (HUD).

To date, CPC has financed over 81 special needs projects, housing over 1,535 people, throughout New York State with a total investment of more than $161 million.

Financing

Financing is for up to 100% of the project, including:

• Land
• Housing purchase
• Rehab costs
• Closing costs

Loan payments are built into the operator"s annual budget and are eligible for agency funding.

Financing also includes related expenses, such as:

• Equipment
• Construction interest
• Taxes
• Working capital for staff training
• Inventory and staff costs

Requirements

• At the time of application, funds are required for:
• Engineering reports
• Environmental reports
• Fees

These costs may be returned to the Borrower at closing.

For questions about CPC's Special Needs Program, please contact Chris Betts at: 518-463-1776 or cbetts@communityp.com