NEW YORK—Wednesday, April 2, 2008—The New York State Affordable Housing Corporation (AHC) board today approved a $300,000 grant to Home HeadQuarters, a private nonprofit organization, to upgrade 62 homes in Onondaga County, including the City of Syracuse.
“I’m very proud that we are able to partner with Home HeadQuarters to renovate existing affordable housing in Onondaga County,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “Improving our housing stock is crucial to maintaining our quality of life in upstate New York.”
“Home HeadQuarters is pleased to work with both the County of Onondaga and the City of Syracuse to renovate owner-occupied homes at risk,” said Kerry Quaglia, Home HeadQuarters Executive Director. “AHC funding is a vital component to addressing the major rehabilitation issues these homeowners face.”
The renovated homes will be located in neighborhoods designated as revitalization and transitional areas. The grant is expected to help finance improvements for 58 single-family and two two-family homes. Renovations will include structural repairs, roof replacements, door and window replacements, hard-wired smoke detectors, electrical, plumbing, furnace and duct work and other code-related improvements, completed in accordance with lead safe work practices. The grants will be limited to households earning no more than $48,800 for a family of four.
The total value of improvements under the program is $750,000. In addition to the grant from AHC, the program will leverage $190,000 in Energy Smart funds provided by the New York State Energy Research and Development Authority (NYSERDA); $75,000 each in HOME funds and Community Development Block Grant funds provided by the City of Syracuse; and $110,000 provided by Home HeadQuarters FlexFund home improvement lending pool. FlexFund loan dollars are private funds put together by Home HeadQuarters from twelve area banks and credit unions.
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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
212-688-4000 x679
plentz (at) nyhomes (dot) org
