NEW YORK, NY – January 29, 2009 – (RealEstateRama) – The board of the New York State Affordable Housing Corporation (AHC) today approved two grants totaling $800,000 to finance improvements to 78 single-family homes in the City of Rochester.
“These grants will enable working families in Monroe County to improve their homes and their quality of lives,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “These awards also demonstrate that Governor Paterson is dedicated to improving our state’s housing stock even in these difficult economic times.”
Owner-Occupied Rehab
AHC awarded a $500,000 grant to the City of Rochester to finance improvements to 40 single-family homes on scattered sites throughout the city.
The grant will be used to help correct code violations, update mechanical and electrical systems, repair structural deficiencies, roofs, and foundations, repair or replace windows, doors, water lines, sewer lines, gas lines, and insulation, and remove lead paint. The grant awards will be limited to households earning up to $57,456 for a family of four.
The total cost of the project is $1 million. In addition to the AHC grant, the project will receive $500,000 provided by the U.S. Housing and Urban Development’s Office of Healthy Homes and Lead Control.
NeighborWorks
AHC also approved a $300,000 grant to NeighborWorks Rochester, Inc. to finance improvements to 38 single-family homes on scattered sites throughout the city.
The grant will be used to help correct structural defects, repair building systems that may threaten the health and safety of the occupants, such as roofs, windows and heating systems, and make repairs to prolong the useful life of the structure. The grant awards will be limited to households earning up to $57,456 for a family of four.
The total cost of the project is $637,500. In addition to the AHC grant, the project will receive $37,500 in Community Development Block Grant funds provided by the City of Rochester.
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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
