January 24, 2008 – Governor Eliot Spitzer today announced $1.76 million in grants to create and preserve 78 units of affordable housing across New York State. Affordable housing is a critical part of the Governor’s agenda for creating economic growth and opportunity. In his proposed 2008-09 State budget submitted to the Legislature this week, the Governor called for the creation of a $400 million Housing Opportunity Fund that would expand access to affordable housing statewide.
Today’s financing was approved by the New York State Affordable Housing Corporation (AHC). With this action, AHC and its parent agency, the New York State Housing Finance Agency (HFA), have approved financing for 6,139 units of affordable housing since January 1, 2007.
“In order for New York to grow and prosper, we must ensure that our residents have access to quality affordable housing,” said Governor Spitzer. “We must continue to build an Innovation Economy that attracts the businesses New York needs to expand economically. Continuing to build affordable housing directly address the perfect storm of unaffordability that is driving our talented workforce from their homes. The AHC’s actions today further cement our efforts to provide affordable housing for working families throughout the state. This will help build stronger communities and strengthen our economy.”
Senator John Bonacic, Chair of the Senate Housing Committee, said: “The need for affordable housing is insatiable. I look forward to continuing to work with the Governor and AHC on housing initiatives, particularly in an effort to make sure the Governor’s Housing Opportunity Fund is funded and meets the needs of people across the State.”
Senator Liz Krueger said: “I am pleased that the Spitzer administration is taking a proactive approach to New York State’s affordable housing crisis. These Affordable Housing Agency grants will allow local nonprofits to address the desperate need for quality affordable housing in their communities.”
Assemblyman Vito J.Lopez, Chair of the Assembly Housing Committee, said: “The Affordable Housing Corporation and Governor Spitzer should be commended for its commitment to providing affordable housing opportunities to individuals all over New York State. Today’s grants will help keep communities together by providing home ownership opportunities.”
Assembly Member Mike Fitzpatrick said: “I want to thank the Governor and the AHC for their assistance to Long Island via these grants. Affordable housing is a critical issue in Suffolk County, and these grants will help a number of very deserving residents while giving the local economy a needed boost.”
Priscilla Almodovar, President and Chief Executive Officer of AHC, said: “These grants promote our mission of encouraging affordable housing and homeownership in New York State. Our awards will improve lives and make New York State a better place to live.”
The approved projects include:
Suffolk County: AHC approved grants to:
- Housing Help Inc. for $80,000 to build a two-family home in Huntington Station; and
- The Economic Opportunity Council of Suffolk Inc. for $160,000 to build four single-family homes in the Town of Brookhaven.
Westchester County: AHC approved a $223,000 grant to the Housing Action Council to complete construction of 17 single-family homes in the City of Yonkers.
Onondaga County: AHC approved a $700,000 grant to the Empire Housing and Development Corporation to acquire and rehabilitate 35 affordable housing units in the county.
Western New York: AHC approved a $600,000 grant to the Rural Housing Opportunities Corporation Inc. to acquire and renovate 20 affordable housing units in four western New York counties: Genesee, Ontario, Orleans, and Wayne.
AHC, a subsidiary of HFA, 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.
