NEW YORK – September 17, 2008 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved $320,000 in grants to finance the construction of 20 new homes and improvements to existing homes in the City of Buffalo.
“These grants are part of New York State’s efforts to improve the quality of life for the residents of Buffalo,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “They will help rebuild Buffalo’s aging housing stock as well as create new housing opportunities in the City’s Fillmore neighborhood. Our grants further the Paterson Administration’s goal of creating and preserving affordable housing so New York State remains an attractive place to live and work.”
West Side Neighborhood Housing Services, Inc.
AHC approved a $200,000 grant to West Side Neighborhood Housing Services, Inc. to finance improvements for 10 single-family homes on scattered sites in Buffalo.
The grant will be used to correct basic structural defects or foundation problems, replace roofs, doors, windows, and siding, upgrade electrical, heating, and plumbing systems, and replace deficient water systems. In addition, a lead assessment and abatement will be conducted and performed, if necessary, on each home. Grant awards will be limited to households earning up to $54,544 for a family of four.
The total cost of the project is $449,800. In addition to the AHC grant, the project will receive $199,800 in HOME funds from the NYS Division of Housing and Community Renewal (DHCR) and $50,000 in Energy Conservation grants from the New York State Energy Research and Development Agency (NYSERDA).
Crescent Village
AHC approved a $120,000 grant to the Lt. Col. Matt Urban Human Services Center of Western New York to finance the construction of 10 single-family homes on Sweet Street in the Fillmore neighborhood of Buffalo.
All of the homes will be two-stories and contain three or four bedrooms. The homes will be available to homebuyers who earn up to $54,544 or less for a family of four. The homebuyers will be chosen by preferences based on points awarded for criteria such as income, completion of homebuyer education, and bank pre-qualification.
The total cost of the project is more than $2 million. In addition to the AHC grant, the project will receive more than $1.27 million in Community Housing Development Organization funds provided by the City of Buffalo.
Habitat for Humanity of New York State: In addition, AHC approved a $780,000 grant to Habitat for Humanity of New York State to finance the construction of 21 single-family homes in Erie, Monroe, Onondaga, and Orange counties.
The homes will be built on land donated by the local municipalities, and will consist of two, three or four bedrooms, a living room and an eat-in kitchen. The homes will be available to households that meet income limits by county ranging from $30,450 to $39,450 for a family of four.
Habitat-NYS will serve as the developer for the project, and Habitat for Humanity of Buffalo, Flower City Habitat for Humanity, Syracuse Habitat for Humanity, and Habitat for Humanity of Greater Newburgh will act as the builders.
The total cost of the project is more than $2.6 million. In addition to the AHC grant, the project will receive $52,000 in Affordable Housing Program funds provided by the Federal Home Loan Bank of New York.
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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
212-872-0679
plentz (at) nyhomes (dot) org
