NEW YORK – September 17, 2008 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved two grants for $450,000 to finance improvements for 52 affordable units in the North Country.
“These grants will provide resources to renovate the aging housing stock in the North Country,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “Our awards further the Paterson Administration’s goal of creating and preserving affordable housing so New York State remains an attractive place to live and work.”
Housing Assistance Program of Essex County
AHC approved a $150,000 grant to the Housing Assistance Program of Essex County, Inc. to finance improvements for 20 single-family homes in Clinton and Essex Counties.
The grant will be used to rehabilitate poorly insulated homes and make necessary repairs to existing structures including upgrades or replacements to heating systems, roofs, electrical, plumbing, water supply, and septic systems. Grant recipients will have incomes up to $52,528 for a family of four in Clinton County and $47,320 for a family of four in Essex County, and about half of them will be elderly.
The total cost of the project is $450,000. In addition to the AHC grant, the project will receive $300,000 in HOME funds from the NYS Division of Housing and Community Renewal (DHCR).
Lewis County
AHC approved a $300,000 grant to Snow Belt Housing Company, Inc. to finance improvements for 32 single-family homes in Lewis County.
The grant will be used to repair roof deterioration, water and septic problems, inadequate electrical service, heating system and chimney problems, windows, and interior water damage. The grant awards will be limited to households earning up to $47,208 for a family of four.
The total cost of the project is $988,786. In addition to the AHC grant, the project will receive $500,000 in HOME funds from DHCR and $188,786 in North Country Home Consortium grant funds from the U.S. Department of Housing and Urban Development.
| ____ |
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
