WASHINGTON, D.C. – (RealEstateRama) — Governor Andrew M. Cuomo today announced nearly $8 million in funds to construct, rehabilitate and improve the homes of 295 income-eligible families across New York. The funds are awarded through New York State Homes and Community Renewal’s Affordable Home Ownership Development Program, administered by the Affordable Housing Corporation. More than 8,700 homes under this administration have been created or made safer and more affordable with $168 million in Affordable Housing Corporation awards.
“We are committed to helping all New Yorkers achieve and preserve the American Dream of home ownership, and this funding will build and improve affordable owner-occupied housing in every corner of the state,” Governor Cuomo said. “This program supports this administration’s efforts to build stronger, more resilient communities and helps to create a stronger, fairer and more affordable New York for all.”
Homes and Community Renewal Commissioner James S. Rubin said, “Every New Yorker deserves a place to call home. This program will help more New Yorkers achieve and maintain the dream of homeownership. HCR is proud to make the Governor’s vision of affordable homeownership and sustainable neighborhoods a reality.”
The Affordable Home Ownership Development Program provides up to $40,000 per dwelling to eligible municipalities, municipal housing authorities, and other not-for-profit and charitable organizations that develop affordable housing or assist homeowners in funding necessary repairs.
The awards announced today will make improvements to existing owner-occupied single or multi-family homes, condominiums, or cooperatives; acquire and rehabilitate owner-occupied homes for sale, including single and multi-family homes, condominiums, or cooperatives; and construct new owner-occupied homes for sale, including single and multi-family homes, condominiums, or cooperatives including replacing dilapidated mobile and manufactured homes.
Awards announced today include:
Western New York
- $700,000 to Community Action Organization of Erie County for the home improvement of approximately 20 units located on scattered sites in the City of Buffalo, Erie County
Finger Lakes
- $440,000 to Rural Housing Opportunities Corporation for the home improvement of approximately 24 units located on scattered sites in Genesee, Orleans, Monroe, Wayne, and Ontario Counties
Central New York
- $450,000 to Homsite Fund, Inc. for the home improvement of approximately 45 units to be located on scattered sites in the City of Auburn in Cayuga County
Capital Region
- $300,000 to Better Neighborhoods, Inc. for the home improvement of approximately 10 units located on scattered sites in the City of Schenectady, Schenectady County
North Country
- $350,000 to North Country Affordable Housing, Inc. for the acquisition and rehabilitation of approximately 9 units located on scattered sites in Jefferson County
- $400,000 to Housing Assistance Program of Essex County, Inc. for the acquisition and rehabilitation of approximately 15 units located on scattered sites in Clinton and Essex Counties
Mid-Hudson
- $440,000 to Community Housing Innovations, Inc. for the acquisition and rehabilitation of approximately 11 units located on scattered sites in Westchester County
Southern Tier
- $1,000,000 to Arbor Housing and Development for the home improvement of approximately 60 units located on scattered sites in Chemung, Steuben, Schuyler, and Allegany Counties
New York City
- $1,200,000 to SBP, Inc. home improvement of approximately 30 units located on scattered sites in Queens and Kings County for homes damaged in Superstorm Sandy
- $1,825,000 to Housing Partnership Development Corporation for the new construction of 49 units located on scattered sites in the Brownsville and East New York sections of Kings County
- $880,000 to Restored Homes Housing Development Fund Corporation for the acquisition and rehabilitation of 22 units to be located on scattered sites in Queens County
About New York State Homes and Community Renewal
New York State Homes and Community Renewal includes the Affordable Housing Corporation, the Division of Housing and Community Renewal, the Housing Finance Agency, State of New York Mortgage Agency, Housing Trust Fund Corporation and others. 2016 marks the fourth year of Governor Cuomo’s $1 billion statewide House NY program, whose goal is to create or preserve 14,300 affordable units by 2018. In 2016, Homes and Community Renewal set a record for the third year in a row, financing the creation or preservation of more than 12,000 affordable homes and apartments, and was again the #1 bond issuer in the nation with more than $2.5 billion issued. The agency stands ready to make good on the Governor’s new $10 billion 100,000 unit House NY 2020 commitment. For more information on HCR programs and initiatives, please visit our website.
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