NEW YORK CITY, NY – July 15, 2010 – (RealEstateRama) — New York State’s housing agencies today approved $18.4 million in grants and financings to build and renovate affordable housing, help businesses grow and create jobs, and assist homeowners at risk of foreclosure.
The boards of the New York State Housing Finance Agency (HFA) and the New York State Affordable Housing Corporation (AHC), which are affiliates of “nyhomes,” approved $13 million in financings to build and renovate 598 affordable housing units across the state.
The board of the Housing Trust Fund Corporation (HTFC), which is administered and staffed by the New York State Division of Housing and Community Renewal (DHCR), approved $5.4 million in awards through three different DHCR programs.
The HTFC approved more than $2 million in NYS Community Development Block Grants around the state to help businesses succeed, strengthen communities and downtowns, and create 148 jobs, including jobs for low- and moderate-income families. The board also approved $3.2 million to help organizations around the state provide free, professional foreclosure prevention services to homeowners at risk, including housing counseling and legal services.
“The financings and grants approved today will create and preserve homes, help businesses succeed, and improve the quality of life for hundreds of New Yorkers,” said Governor David A. Paterson. “These projects demonstrate that we can promote and improve affordable housing and make communities stronger even in difficult economic times.”
Assembly Speaker Sheldon Silver said, “It is crucial that we do all we can to protect and preserve affordable housing for New Yorkers, particularly during these difficult economic times. As an advocate for worthy programs that help working families afford their homes, I applaud the grants approved by the New York State Housing Finance Agency, the New York State Affordable Housing Corporation, and the Housing Trust Fund Corporation. This funding will be of great help to low- and middle-income New Yorkers struggling in a tough economy.”
Majority Conference Leader Senator John Sampson said, “Construction and renovation of affordable homes in New York State will resonate with residents as a positive sign of an economic upswing. At a time when the unemployment rate is 8.2 percent in the State, these grants will create jobs in an industry that can use a financial boost. Even more, those agencies tapped to receive grant funds will be contributing greatly to the livelihood of residents who will be able to better manage expenses due to lower housing costs.”
Assembly Housing Committee Chair Vito Lopez, said: “I am honored to have been so intricately involved in shaping New York’s housing policies for almost two decades. This past year has been one with so many great milestones in housing that my role as Chairman of the Committee on Housing is as rewarding as ever. I look forward to seeing these new grants provide for new jobs and renovated housing for communities throughout New York State. The funding for organizations around the state to provide free, professional foreclosure prevention services to homeowners is a promising step toward maintaining a stable housing market.”
State Senate Majority Leader Pedro Espada, Jr., who also serves as Chairman of the Senate Standing Committee on Housing, Construction and Community Development, said, “This funding underscores the importance of state government remaining committed to its investment in affordable housing even during economic hard times. These well-directed resources not only provide quality, affordable housing to struggling low-income and working families, but they provide the type of economic stimulus needed to jump-start local economies through job creation, new business and economic development for residents, companies and communities throughout the state.”
Brian Lawlor, “nyhomes” President and CEO and Commissioner of the Division of Housing and Community Renewal, said, “These projects will create workforce housing on Long Island, preserve senior housing upstate, help businesses succeed and create jobs, and assist people at risk of foreclosure. Affordable housing and economic development go hand-in-hand. By investing in communities and increasing access to quality housing that senior citizens, families, and young people can afford, New York’s housing agencies are working to strengthen neighborhoods, families, and businesses across the state.”
The projects follow:
Statewide
AHC approved:
–An $875,000 grant to Habitat for Humanity of New York State to build 25 homes in Erie, Monroe, Ontario, Cortland, Onondaga, Tompkins, Columbia, Orange, Jefferson, Oneida and Nassau counties.
–A $600,000 grant to the Bishop Sheen Ecumenical Housing Foundation to finance home improvements of 112 homes in Allegany, Chemung, Schuyler, Tioga, Tompkins, Cayuga, Livingston, Monroe, Ontario, Seneca, Wayne, and Yates counties.
New York City
AHC approved a $500,000 grant to the Housing Partnership Development Corporation to build 20 affordable condominiums in the Bronx.
The HTFC approved the following grants in its Subprime Foreclosure Prevention Program:
–$168,480 for Changer to offer outreach, education, counseling and legal services in Southeast Queens.
–$593,862 for South Brooklyn Legal Services to offer outreach, education and legal services in Brooklyn.
–$79,300 for the Brooklyn Cooperative Federal Credit Union to offer outreach, education and counseling in Brooklyn.
–$289,536 for the Bridge Street Development Corporation to offer outreach, education, counseling and legal services in Brooklyn.
–$112,840 for West Bronx Housing & Neighborhood Resources (WBHNR) to offer outreach, counseling and legal services in the Bronx.
–$464,508 for the Neighborhood Economic Development Activity Project to offer outreach, education and counseling services in New York City.
Long Island
AHC approved:
–A $1 million grant to the Community Development Corporation of Long Island to renovate 167 homes in Nassau and Suffolk counties.
–A $550,000 grant to the Community Development Corporation of Long Island to build 16 new condominium units in the Hamlet of Tuckahoe in the Town of Southampton.
The HTFC approved $600,283 for Long Island Housing Services from its Subprime Foreclosure Prevention Program to offer outreach, education, counseling and legal services in Nassau and Suffolk counties.
Hudson Valley
AHC approved a $240,000 grant to Hudson River Housing, Inc. to build six new homes in the City of Poughkeepsie.
The HTFC approved the following grants:
–$635,000 for the Town of Southeast in Putnam County to assist in the expansion of De Cicco Foods. NYS CDBG funds will leverage nearly $3.3 million and create 53 jobs.
–$143,000 for the City of Port Jervis in Orange County to assist in the start-up of CG Foods, Inc. NYS CDBG funds will leverage $282,000 in private and public financing and create 22 jobs.
–$125,736 for the Putnam County Housing Corporation in its Subprime Foreclosure Prevention Program to offer counseling, outreach, and legal services in Putnam County.
Capital Region
The HTFC approved the following grants in its Subprime Foreclosure Prevention Program:
–$205,000 for Albany Law School to offer outreach, education, counseling and legal services in Albany, Rensselaer, and Schenectady counties.
–$194,922 for the Legal Aid Society of Northeastern NY to offer counseling and legal services in Clinton, Essex, Franklin, Hamilton, Saratoga, St. Lawrence, Warren, and Washington counties.
–$318,888 for the Legal Aid Society of Northeastern NY to offer legal services in Albany, Columbia, Fulton, Montgomery, Rensselaer, and Schenectady counties.
North Country
The HTFC approved $195,000 for the Town of Plattsburgh in Clinton County to assist in the start-up SSF Productions. NYS CDBG funds will leverage nearly $3.8 million in private financing and create 13 new jobs.
Central New York
HFA approved $7.6 million in financing for major capital improvements at the 140-unit Clinton-Mohawk Apartments located at 50-52 Franklin Ave. in the Town of Kirkland.
AHC approved:
–A $280,000 grant to Rebuild Mohawk Valley, Inc. to build seven modular homes in the City of Utica.
–A $375,000 grant to the Cortland Housing Assistance Council, Inc. to acquire and rehab 15 single-family homes.
The HTFC approved $200,000 for the Village of Waterville in Oneida County in the NYS CDBG program to establish the Waterville Microenterprise Assistance Program. The program addresses the needs identified in the 2009 Village of Waterville Community Development Strategic Plan and will help the village create opportunities for microenterprise businesses and entrepreneurs. The program will assist at least five businesses and create nine new jobs.
Western New York
AHC approved:
–A $300,000 grant to the Rural Housing Opportunities Corporation Inc. to acquire and rehab 10 single-family homes in Genesee, Monroe, Ontario, Orleans and Wayne counties.
–A $300,000 grant to the City of Geneva in Ontario County to finance renovations for 20 single-family homes.
The HTFC approved:
–$315,000 for Livingston County to help the Association for the Blind and Visually Impaired-Goodwill expand operations into Geneseo. NYS CDBG funds will leverage $800,000 in private investment and create 21 jobs.
–$266,000 for the Town of Naples in Ontario County to assist in the expansion of Hazlitt’s 1852 Vineyard. NYS CDBG funds will leverage more than $3.5 million in private financing and create 23 jobs.
–$105,000 for Wyoming County to assist in the expansion of Steel & O’Brien Manufacturing. NYS CDBG funds will leverage nearly $500,000 in private financing and create seven jobs.
–$90,000 for Wyoming County to assist in the expansion of RS Maher & Sons, Inc. NYS CDBG Small Business Program funds will leverage nearly $140,000 in private resources and create five jobs.
–$100,000 for the City of Canandaigua in Ontario County to assist in the expansion of Just Right Carbines. NYS CDBG funds will leverage $190,000 in private investment and create four jobs.
Erie County
AHC approved:
–A $200,000 grant that will be used by the Town of Amherst for its Home Rehabilitation Matching Grant Program to finance renovations of 40 homes.
–A $200,000 grant to the Lt. Col. Matt Urban Human Services Center of WNY to finance renovations of 20 single-family homes in the City of Buffalo.
The HTFC approved a $200,000 grant through the Urban Initiatives Program to rehabilitate a two-story building and renovate two affordable apartments in the City of Buffalo.
____
The NYS Housing Finance Agency was created in 1960 to sell bonds to finance the construction and rehabilitation of multifamily affordable rental housing in New York State.
AHC, an HFA subsidiary, 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.
The Housing Trust Fund Corporation was established in 1985 as a subsidiary public benefit corporation of HFA. The mission of the Corporation is to create decent affordable housing for persons of low-income by providing loans and grants for the rehabilitation of existing housing or the construction of new housing under the Low-Income Housing Trust Fund Program.
###
Contacts:
Philip Lentz
“nyhomes” Director of Communications
212-872-0679
plentz (at) nyhomes (dot) org
James Plastiras
DHCR Director of Communications
518-473-2526
JPlastiras (at) dhcr.state.ny (dot) us
