NYS Affordable Housing Corporation Approves $700,000 to Acquire and Rehabilitate 30 Affordable Homes in Erie County
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NYS Affordable Housing Corporation Approves $700,000 to Acquire and Rehabilitate 30 Affordable Homes in Erie County

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NEW YORK – June 12, 2008 – The board of the New York State Affordable Housing Corporation (AHC) has approved $700,000 in grants to acquire and rehabilitate 30 affordable homes in Erie County.

The grants are in addition to the $2 million in “Block-by-Block” programs grants approved by AHC for the City of Buffalo and announced today by Governor David A. Paterson.

“These grants are part of the Affordable Housing Corporation’s continuing effort to improve the aging housing stock in Erie County,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “Our grants—which will help finance new roofs, new boilers and new heating and electrical systems—demonstrate our commitment to upgrading affordable housing and enriching communities all across the state.”

Second Ward Acquisition/Rehab

AHC approved a $200,000 grant to the Lackawanna Housing Development Corporation to finance the acquisition and rehabilitation of 10 units located in scattered sites in the Second Ward of the City of Lackawanna.

Successful applicants will purchase homes on the open market and the Development Corporation will then provide support obtaining a mortgage and renovating the properties. Eligible applicants will be chosen on a first-come, first-served basis.

The scope of renovation work includes roofing, heating, windows, electrical system replacement and plumbing upgrades, including septic system, foundation repair and insulation. Grant awards will be limited to households earning up to $42,613 for a family of four.

Philip Lowrey, Housing Director of the Lackawanna Housing Development Corporation, said, “We are grateful for the ongoing partnership that has been formed between the Lackawanna Housing Development Corporation and the New York State Affordable Housing Corporation. This grant award will assist first-time homebuyers with the funds necessary to obtain the American dream of home ownership. Home ownership is the backbone of safe, viable neighborhoods and cities.”

Cheektowaga Housing Rehabilitation Matching Grant Program

AHC approved a $500,000 grant to the Town of Cheektowaga, through its Community and Economic Development Office, to finance home improvements for 20 units, including 10-single family homes and five two-family homes.

The grant will finance improvements in basic structural defects or foundation problems, replace roofs, doors, windows, siding, and deficient water and septic systems, and upgrade electrical, heating, and plumbing systems. In addition, lead assessments and abatements will be conducted and performed on the homes, if necessary. The grant awards are limited to households earning up to $48,700 for a family of four.

The total cost of the project is $1 million. In addition to the AHC grant, the project will receive $300,000 in Community Development Block Grant funds and $200,000 in HOME funds from the Town of Cheektowaga.

Jerome Gabryszak, Cheektowaga Director of Community Development, said, “The Town of Cheektowaga is pleased to have the New York State Affordable Housing Corporation as a partner in its efforts to stabilize the Town’s oldest neighborhoods and improve the quality of life for area residents. Grant funds provided by the New York State AHC will enable the Town to assist low- and moderate-income homeowners make needed repairs to their homes as well as help preserve the Town’s supply of affordable, decent and safe housing units for future generations.”

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AHC, a subsidiary of the NYS Housing Finance Agency, was established in 1985 to promote homeownership by low- and moderate-income households. Financial assistance approved annually by the New York State Legislature, combined with other private and public investment, is used for the construction, acquisition, rehabilitation and improvement of owner-occupied housing.

AHC Contact: Philip Lentz
Director of Communications
212-688-4000 x679
plentz (at) nyhomes (dot) org

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New York State Housing Finance Agency (HFA) offers financing to for-profit and not-for-profit developers to build affordable housing and preserve existing affordable housing, including Mitchell Lama developments.

Mission
HFA's mission is to create and preserve high quality affordable multifamily rental housing that serves communities across the State of New York. 

Contact:

Philip Lentz 
Phone: 212-872-0679
Fax: 212 872-0789

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