NEW YORK, NY – December 3, 2008 – (RealEstateRama) – The board of the New York State Affordable Housing Corporation (AHC) today approved a $300,000 grant to the Friends of the North Country, Inc. for the construction of eight single-family homes in Clinton County.
“I am proud that we are able to finance these new homes in the North Country during difficult economic times,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “Our approval today reinforces Governor Paterson’s mission of making New York State a better place to live and work.”
The Clinton County grant was included in $64.2 million in financings approved today by AHC and its parent agency, the New York State Housing Finance Agency, which will create or preserve 426 affordable housing units across the state.
The AHC grant will be used to replace irreparable mobile homes with three-bedroom Cape-style or two-bedroom Ranch-style homes. The grant awards will be limited to households earning up to $52,528 for a family of four.
The proposed builders for the project are Kenneth Dubuque Construction, Richard J. Patnode Building and Remodeling, Trim’s Building and Remodeling, and C.J.P. Construction. The total cost of the project is $515,000. In addition to the AHC grant, the project will receive $215,000 in HOME funds provided by the NYS Division of Housing and Community Renewal.
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AHC, a subsidiary of NYS Housing Finance Agency, was established in 1985 to promote homeownership by low- and moderate-income households by providing financial assistance approved by the State Legislature 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
