NEW YORK, NY – April 2, 2009 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved $1.975 million in grants to create and renovate 82 affordable housing units in New York State.
“These grants will help create and rehabilitate much needed affordable housing for working families both upstate and downstate,” said Governor David A. Paterson. “These actions demonstrate that we are committed to making New York State a better place to live and work despite the difficult economic climate.”
Assemblyman Vito J. Lopez, Chairman of the Assembly Housing Committee, said, “The recession we are experiencing underlines the importance of preserving and enhancing New York’s affordable housing stock. The AHC grants announced today are an important investment that will help working families obtain quality housing. By constructing new units and rehabilitating foreclosed homes, New York will increase the availability of accessible housing during this economic downturn.”
State Senator Pedro Espada, Jr., Chairman of the Senate Standing Committee on Housing, Construction and Community Development, said, “These grants not only begin to address the state’s affordable housing crisis, they also serve as economic stimulus by providing work to small, local contracting businesses, creating jobs and producing new tax revenue streams. They also help strengthen families and neighborhoods.”
State Senator John Bonacic, Ranking Member of the Senate Committee on Housing, Construction and Community Development, said, “In these tough economic times, particularly in upstate New York, the need for affordable housing is greater than ever. Senator John DeFrancisco has been a strong advocate for Home HeadQuarters, so I am pleased to see their important project moving forward. I look forward to continuing to work to expand affordable housing opportunities across New York State.”
Assemblyman Michael Fitzpatrick, Ranking Member of the Assembly Housing Committee, said, “Thanks go to Governor Paterson and AHC President Almodovar for their steady, consistent progress in making housing more affordable for more New Yorkers. I appreciate their good work and leadership in creating opportunities for people in need throughout the state.”
Priscilla Almodovar, AHC President and Chief Executive Officer, said, “The need for affordable housing has never been greater. That is why we are committed to providing financing so New Yorkers can live in safe and affordable homes in all parts of the state.”
The projects are as follows:
New York City:
AHC approved:
— A $775,000 grant to the Housing Partnership Development Corporation to finance the construction of 31 affordable units in the South Jamaica section of Queens.
— A $300,000 grant to the Housing Partnership Development Corporation to finance the construction of 12 affordable units in the Melrose section of the Bronx.
Syracuse:
AHC approved a $600,000 grant to Home HeadQuarters, Inc. to finance the construction of 15 affordable single-family homes.
Oswego County:
AHC approved a $300,000 grant to the Oswego Housing Development Council, Inc. to help prospective homeowners acquire and rehabilitate 24 homes.
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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
