NEW YORK, NY – June 4, 2009 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved $600,000 in grants to renovate 75 homes in St. Lawrence County.
“These grants will help improve the aging housing stock in the North Country,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “It also reinforces Governor David A. Paterson’s mission to make New York State a better place to live and work.”
Association for Neighborhood Rehabilitation, Inc.
AHC approved a $300,000 grant to the Association for Neighborhood Rehabilitation, Inc. (ANR) to renovate 25 single-family homes in St. Lawrence County.
This project is part of ANR’s ongoing objective to provide home repair assistance to income-eligible homeowners who do not have the financial capacity to make payments on a home improvement loan. Many of the homes are more than 75 years old and grant funds are needed to address typical repairs such as insulation, heating systems, roofs, electrical, plumbing, water supply, and septic systems. Lack of maintenance and poor weatherization coupled with the severe cold has increased the financial burden of individuals living under these conditions. The project will bring the homes into compliance with local and state building codes and laws.
Homeowners will be selected from a current waiting list of income-qualified homeowners on a first-come, first-served basis. The grant awards will be limited to households earning up to $49,190 for a family of four.
The total cost of the project is $615,000. In addition to the AHC grant, the project will receive $250,000 in HOME funds provided by the NYS Housing Trust Fund Corporation (HTFC) and $65,000 in grant funds provided by the Development Authority of the North Country (DANC).
SLCHC
AHC approved a $300,000 grant to the St. Lawrence County Housing Council, Inc. (SLCHC) to rehabilitate 50 single-family homes in St. Lawrence County.
This grant will support SLCHC’s existing home improvement programs. The funds will provide eligible homeowners with grants that will be used to address serious health and safety hazards present in their homes. Deficiencies that will be addressed include: window replacements, updating electrical systems, replacing doors, roof repairs, water and septic problems, plumbing, and internal repairs as a result of water damage. Many of the homes are in excess of 50 years old. This combination of low-income residents and aged housing stock has made it difficult for homeowners to afford or qualify for financing from traditional lending institutions.
The project will help bring the homes into compliance with local and state building codes and laws. Grant eligibility will be limited to households earning no more than $49,190 for a family of four.
The total cost of the project is $900,000. In addition to the AHC grant financing includes $600,000 in Community Development Block Grant funds (CDBG) provided by St. Lawrence County.
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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
