NEW YORK, NY – August 1, 2009 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved a $300,000 grant to the Onondaga County Community Development Division (OCCD) to renovate 50 homes in the county.
“This grant will improve the housing stock in Central New York and the quality of life for Onondaga residents,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “It reinforces the Paterson administration’s goal of making New York State a better place to live and work.”
The AHC grant will be applied to rehab 50 single-family homes in Onondaga County outside the City of Syracuse. Homeowners will be selected on a first-come, first-served basis. Typical repairs will include lead removal and bringing homes into compliance with existing codes and standards. Grant eligibility will be limited to households earning no more than $57,075 for a family of four.
The total cost of the project is $1 million. In addition to the AHC grant, financing includes $200,000 in Federal Community Development Block Grant (CDBG) funds and $500,000 in Lead-Based Paint Hazard Reduction Grant funds allocated by the U.S. Department of Housing and Urban Development (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.
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Contact: Philip Lentz
Director of Communications
212-872-0679
plentz (at) nyhomes (dot) org
