NEW YORK, NY – June 4, 2009 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved a $195,000 grant to the Town of Queensbury to renovate 13 single-family homes in Warren County.
“These grants will help improve the aging housing stock of upstate New York,”said Priscilla Almodovar, AHC President and Chief Executive Officer. “It also reinforces Governor David A. Paterson’s mission to make New York State a better place to live and work.”
The AHC grant will help fund Queensbury’s Affordable Housing Strategy whose highest priority is protection and expansion of the stock of affordable housing in the existing neighborhoods. Many of the homes identified are more than 40 years old and grant funds are needed to address typical repairs such as upgrading heating systems, and repairing roofs, electrical, plumbing, water supply, and septic systems.
This project will also help bring the homes into compliance with local and state building codes and laws. Eligible homeowners will be selected from a wait list. The income limit for grant recipients is $53,222 for a family of four.
The total cost of the project is $325,000. In addition to the AHC grant, the project will receive $130,000 in CDBG funds allocated by the NYS Division of Housing and Community Renewal (DHCR).
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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.
Contact: Philip Lentz
Director of Communications
212-872-0679
plentz (at) nyhomes (dot) org
