NEW YORK – June 12, 2008 – The board of the New York State Affordable Housing Corporation (AHC) has approved a $300,000 grant to the Chautauqua Home Rehabilitation and Improvement Corporation (CHRIC) to finance improvements on 35 homes in Chautauqua County.
“This grant is part of the Affordable Housing Corporation’s continuing effort to improve the aging housing stock in Chautauqua County,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “Our grant—which will help finance new roofs, new boilers and new heating and electrical systems—demonstrates our commitment to upgrading affordable housing and preserving communities all across the state.”
John Murphy, Executive Director of CHRIC, said, “We are very pleased to have received these important housing rehabilitation funds through the New York State Affordable Housing Corporation. This will allow us to help several lower-income families currently waiting for matching grant funds to make needed repairs to their homes. We very much appreciate AHC providing us the resources to address the unique needs of our more rural upstate communities.”
The grant will finance renovations for 29 single-family and 3 two-family homes that pose a serious health, safety, or structural threat. The program will correct basic structural defects and include renovations of major systems such as heating, electrical, plumbing, and roofs. If necessary, a lead assessment and remediation will be conducted and performed on each home. Grant awards are limited to households earning less than $42,150 for a family of four.
The total project cost of the home improvements will be $1.06 million. In addition to the AHC grant and the individual homeowners’ share, the projects will be financed with $200,000 in Affordable Housing Program funds provided by the Federal Home Loan Bank of New York, $240,000 in HOME funds provided by the NYS Division of Housing and Community Renewal, and $240,000 in U.S. Department of Housing and Urban Development (HUD) lead-based paint reduction funds through Chautauqua County.
