NEW YORK – June 12, 2008 – The board of the New York State Affordable Housing Corporation (AHC) has approved $1.125 million in grants to finance the renovations of 130 homes in the Southern Tier.
“These grants are part of the Affordable Housing Corporation’s continuing effort to improve the aging housing stock in the Southern Tier,” 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.”
City of Elmira
AHC approved a $225,000 grant for the City of Elmira’s Department of Community Development to finance home improvements for 20 homes.
The grant will be used to finance roof replacements, siding insulation, and installation of updated heating, water, and electrical systems, as well as other improvements necessary for housing safety or code compliance. Grant awards will be limited to households earning $47,208 or less for a family of four.
The total cost of the project is $375,000. In addition to the AHC grant, the project will be funded with a $150,000 Community Development Block Grant provided by the U.S. Department of Housing and Urban Development.
Cuba Community Development Corporation
AHC approved a $300,000 grant to the Cuba Community Development Corporation to finance home improvements for 40 homes in Allegany County.
The grant will finance roof replacements and repairs to siding, insulation, and sewage disposal. It will also be used to finance repairs necessary for housing code compliance such as the replacement of hazardous floors, sidewalks, and electrical systems. Grant awards will be limited to households earning no more than $47,208 for a family of four.
The total cost of the project is $680,000. In addition to the AHC grant, the project will receive $350,000 in HOME funds provided by the NYS Housing Trust Fund Corporation and $30,000 from the Cuba Community Development Corporation Revolving Loan fund.
Tri-County
AHC approved a $300,000 grant to Community Progress, Inc. to finance home improvements for 40 single-family homes in Chemung, Schuyler, and Steuben counties.
The grant will be used to correct foundation and structural problems; replace roofs, doors and windows; upgrade electrical, heating, and plumbing systems; and replace deficient water and septic systems. Grant awards will be limited to households in Chemung and Schuyler counties that earn up to $47,208 and households in Steuben County that earn up to $51,352 for a family of four.
The total cost of the project is $640,000. In addition to the AHC grant, the project will receive $150,000 in HOME funds provided by the NYS Housing Trust Fund Corporation, $50,000 in Rural Preservation Program funds provided by the NYS Division of Housing and Community Renewal, and $40,000 from the United Way of the Southern Tier.
City of Binghamton
AHC approved a $300,000 grant to the City of Binghamton’s Department of Planning, Housing and Community Development to finance home improvements to 30 single-family homes in Binghamton.
The grant will be used to correct health, electrical and plumbing code violations and for lead hazard remediation, weatherization, and energy efficiency improvements. Grant awards will be limited to households earning up to $52,080 for a family of four.
The total cost of the project is $1.05 million. In addition to the AHC grant, the project will receive $200,000 in Binghamton’s Community Development Block Grant funds and $550,000 in Binghamton HOME funds provided by HUD.
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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
