NEW YORK, NY – June 4, 2009 – (RealEstateRama) — The board of the New York State Affordable Housing Corporation (AHC) today approved $900,000 in grants to renovate 114 homes in the Southern Tier.
“These grants will help upgrade the aging housing stock in the Southern Tier,” said Priscilla Almodovar, AHC President and Chief Executive Officer. “I am particularly proud that one of the grants, to Andover, includes funds for homeowners who are frail elderly, disabled or veterans. Our actions today reinforce Governor David A. Paterson’s mission to make New York State a better place to live and work.”
Arbor Development
AHC approved a $300,000 grant to Arbor Development, formerly known as Steuben Churchpeople Against Poverty, INC. (SCAP), to renovate 36 single-family homes in Steuben County.
The grant will be used to correct foundation and structural problems, replace roofs, doors, windows, siding, and porches, upgrade electrical, heating, and plumbing systems, and replace deficient water and septic systems.
Qualified applicants will be selected based on the nature of the repair and the availability of other funding. Applicants whose housing poses a serious health, safety, or structural threat will be given priority. Grant eligibility will be limited to households earning up to $51,341 for a family of four.
The total cost of the project is $500,000. In addition to the AHC grant, financing includes $100,000 provided by the NYS Housing Trust Fund Corporation (HTFC) and $100,000 in Maple City Savings Bank Affordable Housing Program funds provided by the Federal Home Loan Bank.
Andover Historic Preservation Corporation
AHC approved a $300,000 grant to the Andover Historic Preservation Corporation for the rehabilitation of 28 single-family homes in Allegany and Steuben Counties.
Improvements include moderate rehabilitation necessary to correct health and safety issues. Funds will also be allocated for lead-based paint stabilization and renovations which will bring the property up to code compliance and increase energy efficiency. At least 12 units of funding will be for homeowners who are considered to be frail elderly, disabled or veterans.
The grant awards will be limited to households earning up to $49,190 for a family of four in Allegany County and $51,341 for a family of four in Steuben County.
The total cost of the project is $700,000. In addition to the AHC grant, the project will receive $400,000 in HOME funds provided by the NYS Housing Trust Fund Corporation (HTFC).
ACCORD
AHC approved a $300,000 grant to the Allegany County Community Opportunities and Rural Development Corporation (ACCORD) to renovate 50 single-family homes in Allegany County.
Eligible improvements include bringing properties up to code compliance and increasing energy efficiency. ACCORD will also allocate funds to correct foundation and structural problems, replace roofs, doors, windows, siding, and porches, upgrade electrical, heating and plumbing systems, and replace deficient water and septic systems.
Qualified applicants will be selected based on the nature of the repair and the availability of other funding. Applicants whose housing poses a serious health, safety, or structural threat will be given priority. The household income limit for grant recipients is up to $49,190 for a family of four.
The total cost of the project is $700,000. In addition to the AHC grant, the project will receive $400,000 in HOME funds allocated by the NYS Housing Trust Fund Corporation (HTFC).
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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
