NEW YORK, NY – July 23, 2008 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved $610,000 in grants to finance improvements for 95 homes in Erie and Niagara counties.
The grants will be used upgrade homes in the City of Niagara Falls, the Town of Amherst and in several towns and villages in southern Erie County. They will finance improvements in basic structural defects or foundation problems, replace roofs, doors, windows, siding, and deficient water and septic systems, and upgrade electrical, heating, and plumbing systems. The grant awards will be limited to households earning up to $54,544 for a family of four.
“The Affordable Housing Corporation is dedicated to improving the aging affordable housing stock in upstate New York,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “The Paterson Administration understands that affordable housing that is decent and in good repair makes our communities stronger, businesses healthier and neighborhoods more diverse. That is why we approved these financings today and why the Paterson Administration and the State Legislature made an historic commitment to housing in this year’s budget.”
Niagara Falls—AHC approved a $260,000 grant to the Center City Neighborhood Development Corp. to finance home improvements for 30 single-family homes located in the Center City section of Niagara Falls. The total cost of the improvements is $861,500. In addition to the AHC grant, the project will receive $280,000 in HOME funds provided by the NYS Division of Housing and Community Renewal and $321,500 in Community Development Block Grant (CDBG) funds provided by the City of Niagara Falls.
Amherst—AHC approved a $200,000 grant to the Town of Amherst to finance improvements on 40 single-family homes. The total cost of the improvements is $400,000. In addition to the AHC grant, the project will receive $200,000 in HOME funds provided by the Town of Amherst.
Southtowns—AHC approved a $150,000 grant to the Southtowns Rural Preservation Company, Inc. to finance home improvements for 25 single-family homes located in southern Erie County. The total cost of the improvements is $500,000. In addition to the AHC grant, the project will receive $150,000 in CDBG funds provided by Erie County and $150,000 in grant funds from by the Federal Home Loan Bank of New York.
| ___ |
AHC 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
