September 17, 2008 – (RealEstateRama) — Governor David A. Paterson today announced $12.7 million in grants and financings to create and preserve 411 affordable housing units throughout New York State.
The approvals were made by the boards of the New York State Housing Finance Agency (HFA) and its subsidiary, the New York State Affordable Housing Corporation (AHC).
“These approvals demonstrate our commitment to building and preserving affordable housing in all regions of New York,” Governor Paterson said. “Providing affordable housing strengthens our neighborhoods and makes New York State a more attractive place to live and work.”
Assemblyman Vito Lopez, Chairman of the Assembly Housing Committee, said, “From New York City to Central New York, the North Country and Long Island, qualified housing organizations will receive the grant money needed to create and restore hundreds of affordable housing units throughout the state. Now, more than ever, quality housing stock is necessary to sustain communities and provide revitalization where most needed. This achievement would not be possible without the leadership of Governor Paterson and President Almodovar.”
Senator John J. Bonacic, Chairman of the Senate Housing Committee, said, “The need for affordable housing in New York is insatiable. I am please to work with Governor Paterson who has made this issue a priority. Investing in affordable housing improves the quality of life for all New Yorkers. We need diverse and stable communities and renovating existing housing stock and building new housing will help to meet that need.”
Assemblyman Michael Fitzpatrick, Ranking Member of the Assembly Housing Committee, said, “Again, Governor Paterson demonstrates his commitment and leadership on the issue of affordable housing. Today’s announcement will bring real benefits to Long Island and the rest of New York State. I applaud the Governor and thank him for his announcement today.”
Senator Liz Kruger, Ranking Member of the Senate Housing Committee, said, “I am pleased that the Paterson Administration is taking such a proactive approach to New York State’s affordable housing crisis. These grants will help address the State’s desperate need for quality affordable housing which is vital to the revitalization of New York’s communities.”
Priscilla Almodovar, HFA and AHC President and Chief Executive Officer, said, “Our agencies are dedicated to improving communities across the state by creating new homes and improving our existing housing stock. We are also committed to creating homeownership opportunities in the current challenging housing environment by providing resources and innovation so more New Yorkers than ever before can own—and keep—their homes.”
HFA will finance $4.5 million through the sale of private activity tax-exempt bonds. AHC’s grants, which total $8.2 million, are funded by the 2008-2009 State Budget.
The projects are as follows:
Habitat for Humanity of New York State
AHC approved a $780,000 grant to Habitat for Humanity of New York State to finance construction of 21 single-family homes in Erie, Monroe, Onondaga and Orange counties.
AHC approved a $2.17 million grant to the Housing Partnership Development Corporation to finance construction of 70 affordable co-op units in three mixed-income apartment houses in the Bedford-Stuyvesant section of Brooklyn.
AHC approved a $275,000 grant to Habitat for Humanity of Suffolk to finance the construction of 11 single-family homes on scattered sites in the county.
AHC approved two grants for the county:
–A $500,000 grant to the City of White Plains through its Community Development Rehabilitation Program to finance improvements for 40 single-family homes.
–A $2 million grant to the Housing Action Council to finance the construction of 50 condominium units in the Village of Ossining.
HFA approved $4.5 million in financing for capital improvements at the 51-unit Maplewood Gardens located in the Hamlet of Nanuet.
AHC approved a $300,000 grant to the Albany County Rural Housing Alliance to finance improvements for 30 affordable units in the county.
AHC approved two grants for the North Country:
–A $150,000 grant to the Housing Assistance Program of Essex County, Inc. to finance improvements for 20 single-family homes in Clinton and Essex Counties.
–A $300,000 grant to Snow Belt Housing Company, Inc. to finance improvements for 32 single-family homes in Lewis County.
AHC approved an $800,000 grant to Home Headquarters, Inc. to acquire and rehabilitate 20 affordable homes in Syracuse.
AHC approved a $400,000 grant to Ithaca Neighborhood Housing Services to finance improvements for 25 single-family homes throughout the county.
AHC approved two grants for Monroe County:
–A $200,000 grant to Marketview Heights Association, Inc. to finance improvements for 20 single-family homes throughout the county.
–A $40,000 grant to South Wedge Planning Committee, Inc. to finance the construction of an affordable home in the South Wedge area of Rochester that will use Universal Design Standards and Green Building practices and which will be accessible to a homebuyer with physical disabilities.
AHC approved two grants for Erie County:
–A $200,000 grant to West Side Neighborhood Housing Services, Inc. to finance improvements for 10 single-family homes in Buffalo.
–A $120,000 grant to the Lt. Col. Matt Urban Human Services Center of Western New York to finance the construction of 10 single-family homes on Sweet Street in the Fillmore neighborhood of Buffalo.
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The NYS Housing Finance Agency was created in 1960 to sell bonds to finance the construction and rehabilitation of multi-family affordable rental housing in New York State.
AHC 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.
Contact: Philip Lentz
Director of Communications
212-872-0679
plentz (at) nyhomes (dot) org
