The awards announced for Fall 2025, for the second funding round of the HTF's Housing Creation and Preservation program, totaled $4,765,000.00 as follows:

• The Clinton Crest. Rehabilitation that expands an existing 4-unit multifamily building by adding 4 new 2-bedroom units in the City of Poughkeepsie. Funding Award– $550,000. 
• 8 Powder House Road, Amenia.  New construction of a duplex with two 2-bedroom units. Funding Award – $200,000.
• Morgan Avenue Apartments.  New construction of 2 buildings with a total of 9 units in the City of Poughkeepsie. Funding Award – $1,000,000.
• Windows on Main.  New construction of an 81-unit building on the site of an existing laundromat in the City of Poughkeepsie.  Funding Award - $700,000. 
• Locust Hill. New construction of 6 buildings with a total of 80 units in thew Town of Rhinebeck.  Funding award - $1,465,000.
• Red Hook Gateway.  New construction of 20 units of affordable rental workforce and homeownership housing in the Village of Red Hook. Funding Award- $850,000.

The awards announced for March 2023, for the first funding round of the HTF's Housing Creation and Preservation program, totaled $8,996,134.00 as follows:

• 30-32 Smith Street.  New construction, three-family in the City of Poughkeepsie.  Three HCP units, three total units.  Completed in the summer of 2025. Funding award - $346,134.
• 9-13 Noxon Street.  Rehabilitation, 16 single-room-occupancy units in the City of Poughkeepsie.  16 HCP units, 16 total units.  Currently under construction. Funding award - $1,910,000. 
• Two Cross Street.  New construction and rehab, 18 total units in the City of Beacon.  Nine HCP unit, 18 total units.  Currently under construction.  Funding award - $1,575,000.
• Wallace Campus.  New construction and rehab, 187 total units in the City of Poughkeepsie.  29 HCP units, 187 total units.  Construction begins early in 2026.  Funding award - $2,200,000.
• Alpine Commons.  New construction, 144 total units in the Town of Wappinger.  132 HCP units, 144 total units.  Still seeking approvals from the Town. Funding award - $1,500,000.
• Schatz Redevelopment.  New construction, 250 units in the Town of Poughkeepsie.  225 HCP units, 250 total units.  This award was returned by the developer. While they are committed to moving the project forward, they acknowledged that the project is taking longer than anticipated to begin and that releasing funds would make them available for other projects that are more ready to proceed. Funding award - $1,465,000. (Award returned by developer due to project delays)
   

Goals of the Dutchess County Housing Trust Fund include:

• Provide financial support for the creation of affordable housing distributed throughout Dutchess County.
• Make affordable housing activities throughout the county more competitive for securing other funding sources.
• Support housing which is a priority for the county but for which other funding is unavailable or very limited.
• Prioritize projects that result in the creation of housing at higher levels of affordability.

The Housing Trust Fund's framework includes three overarching programs, each with a variety of potential eligible activities. For each funding round, the County will indicate which programs and activities are eligible for funding at that time. 

Housing Creation and Preservation (HCP) Program:

• New affordable rental housing via new construction, rehabilitation of existing housing stock, and adaptive reuse of non-residential structures. Funded projects may be fully affordable or mixed-income. Single-room occupancy (SRO) rental housing is eligible under this category.
• Acquisition-only for the creation of affordable rental housing (limited to projects by non-profit development entities).
• Acquisition and/or rehabilitation of occupied, naturally-occurring affordable rental housing with income-eligible tenants to secure long-term affordability with applicable compliance periods.
• Preservation/rehabilitation of existing affordable rental housing with expiring compliance periods.

Infrastructure and Pre-Development Support (IPDS) Program:

• Expand/extend water and/or sewer infrastructure for affordable and mixed-income housing developments.
• Development of generic environmental impact statements (GEIS) to streamline the development of affordable/mixed-income housing supported by the local municipality. GEIS must be supported by zoning to permit and streamline the creation of affordable housing via inclusionary zoning, density bonuses, or other strategies.
• Zoning revisions to permit and streamline the creation of affordable housing via inclusionary zoning policies, density bonuses, or other strategies. A municipal match will be required.
• Oversee administration of affordable units created via municipal inclusionary policies, density bonuses, or other strategies.

First-Time Homeownership (FTH) Program:

• Support a locally-sourced program for subordinate or “soft second” mortgages to provide down payment and closing cost assistance for low- and moderate-income first-time homebuyers who can afford a mortgage but lack savings to cover the down payment and/or closing costs.
• Support construction or rehabilitation to create affordable homeownership opportunities for first-time homebuyers undertaken by non-profit entities.

General Reference Materials:

• Dutchess County Housing Trust Fund Framework (.pdf)
• HCP Policies and Procedures (.pdf) 
• Background Information on HCP Policies and Procedures (.pdf)
• Instructions for HCP Underwriting Template Exhibits (.xlsx)