Wednesday, June 18, 2014
 

 

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Affordable housing grants announced statewide

ALBANY - Awards, totaling $14 million, to rehabilitate and construct low- and moderate-income housing in every region across the state, were announced on Tuesday. The 37 competitive awards are made to local municipalities and not-for-profit organizations to help revitalize communities and drive local economic activity.

“Every New Yorker deserves a home that is safe and affordable, and today we are funding projects across the state that will help to make that a reality,” Governor Andrew Cuomo said. “With this round of funding, we have invested more than $1 billion, moving the Empire State closer our goal of ensuring that every New Yorker can find a place to call home. Our administration will continue to work alongside local governments and non-profit agencies to support affordable housing alternatives in every corner of the state.”

The awards assist in the costs of home improvements, the rehabilitation of existing housing, and the new construction of homes for first-time homebuyers, and are provided through the Affordable Housing Corporation (AHC). AHC, which is part of New York State Homes and Community Renewal (HCR), supports homeownership opportunities for low- and moderate-income families by providing grants to municipalities and not-for-profit organizations.

The awards also leverage additional public resources to maximize the community development opportunities. Some of the other subsidies include funds from the following programs: Community Development Block Grant (CDBG) program, RESTORE (Residential Emergency Services to Offer Repairs to the Elderly), local HOME funds, Urban Initiative funds, and Weatherization funds.