NEW YORK—Wednesday, March 5, 2008—The New York State Affordable Housing Corporation (AHC) today approved a $300,000 grant to the Oswego Housing Development Council (OHDC) to help finance home improvements for 30 single-family homes in Oswego County. The grant is part of a $900,000 program designed to stabilize and preserve the county’s existing housing stock.
“Helping to preserve and improve our aging housing stock in upstate New York is one of the core missions of the Affordable Housing Corporation,” said Priscilla Almodovar, President and Chief Executive Officer of AHC. “That is why I am delighted that we are able to partner with the Oswego Housing Development Council and provide financing to upgrade 30 homes in Oswego County.”
Roxanna Gillen, Executive Director of the Oswego Housing Development Council, said, “We are honored to receive this grant from the Affordable Housing Corporation to help homeowners in Oswego County preserve and improve their homes. Our partnership with AHC has helped many Oswego homeowners over the years and we look forward to strengthening that relationship in the future. Staff at OHDC has recently completed training in energy reduction design and retrofitting that will be included in our Home Improvement Program Rehabilitation Standards. It is our mission to not only provide decent housing but also affordable housing opportunities to the residents of Oswego County. ”
The renovations financed by the AHC grant include installation, replacement or repair of heating, plumbing and electrical systems; elimination of hazardous violations; plus modifications to meet the needs of elderly and disabled individuals. The grants will be limited to households earning no more than $54,656 for a family of four.
In addition to the AHC grant and homeowner equity, the program will be funded by $200,000 in HOME funds provided by the New York State Housing Trust Fund Corporation (HTFC); $200,000 in Access to Home funds provided HTFC; $10,000 in RESTORE funds provided by Oswego County Department of Planning and Community Development; $20,000 in Weatherization funds provided by Catholic Charities; $10,000 provided by the Oswego County Office for the Aging; and $120,000 in Rural Development 504 funds provided by U.S. Department of Agriculture Rural Development.
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AHC, a subsidiary of HFA, 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
212-688-4000 x679
plentz (at) nyhomes (dot) org
