NEW YORK, NY – May 7, 2009 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved two grants totaling $600,000 to renovate 125 homes in the City of Rochester.
“Improving the aging housing stock of Western New York is an important priority for our agencies,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “Our financing reinforces the Paterson administration’s goal of improving the quality of life for every New Yorker.”
Both grants will help fund a collaborative effort between the City of Rochester and the Joint Venture Partnership, which includes the South Wedge Planning Committee, Marketview Heights, the NCS Community Development Corporation and North East Area Development.
Westside ESRP Program
AHC approved a $300,000 grant to the Northwest Community Services Community Development Corporation for its Westside Exterior and Safety Repair Program (ESRP) to help finance renovations for 60 single-family homes in Rochester.
The renovations include roof, window, and door repair and replacement, structural/foundation and electrical upgrades. Homeowners will be selected on a first-come, first-served basis. Homeowners with critical emergencies will be given priority. The grants will be limited to households earning no more than $59,584 for a family of four.
The total cost of the project is $1 million. In addition to the AHC grant, the program will be funded by $400,000 in Community Development Block Grant (CDBG) funds provided by the City of Rochester and $300,000 provided by Federal Home Loan Bank of New York.
Eastside Residential Assistance Program
AHC approved a $300,000 grant to South Wedge Planning Committee, Inc. to finance home improvements for 65 units in Rochester.
The grant will be used to renovate 55 single-family and five two-family homes. The improvements include safety and code upgrades; mechanical and structural repairs including roofs, furnaces, water and electrical; lead paint removal and energy efficiency improvements. Homeowners will be selected on a first come, first-served basis. Homeowners with critical emergencies will be given priority. The grant awards will be limited to households earning up to $59,584 for a family of four.
The total cost of the project is $800,000. In addition to the AHC grant, the project will receive $400,000 in Community Development Block Grant (CDBG) funds provided by the City of Rochester and $100,000 in Access to Home funds provided by Marketview Heights.
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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
