DHCR and "nyhomes" Announce $30 Million in Affordable Housing and Community Renewal Awards for Western NY

ALBANY, NY (08/27/2010)(readMedia)-- The State Division of Housing and Community Renewal (DHCR) and "nyhomes" today announced $30 million in awards for communities in Western New York. The awards will help to develop affordable housing, revitalize downtowns, and upgrade water and sewer systems. The awards will leverage an additional $75 million from other private and public sources, bringing a total of $105 million in economic activity to Western New York.

The funding will help to:

• build or rehabilitate 629 affordable housing units for working families, seniors, and people with disabilities including 85 units of supportive housing with services;

• create 20 homeownership opportunities, revitalize the central business districts of 11 cities, towns, and villages, and

• build or improve public health, water and sewer facilities, benefiting more than 10,000 Western New York residents.

Additionally, the awards are expected to create or support more than 300 jobs, according to an economic impact formula from the National Association of Home Builders.

Governor Paterson said, "Increasing access to quality affordable housing, revitalizing Main Streets, and improving the State's infrastructure are all critical components of New York's economic recovery and job-creation efforts. Our investment will leverage millions more from our partners in the private sector and Federal and local governments."

Brian Lawlor, Commissioner of DHCR and President/CEO of "nyhomes" said, "The awards approved today will assist projects that have been true collaborative efforts, using resources from State, local, Federal agencies as well as private sector investments. As we proceed with the integration of the state's major housing agencies, coordinating scarce resources will help us to more efficiently deliver our programs and services to more New Yorkers, enhancing their impact while lowering costs."

Lawlor said the award process this year presented a number of challenges, including heightened competition from a large number of high-quality projects and decreased funding, due to the state's economic condition. Statewide, more than 400 applications for funding were received, and awards were granted to 130 projects.

Highlights of the Western New York awards include:

• Center Court in Niagara Falls received $2.4 million in funding and $1.5 million in Low Income Housing Tax Credits (which will generate $11.2 million in equity). The project, a financing collaboration between state, federal, city and private investors, will create 100 units of affordable housing and feature Energy Star rated heating and air conditioning systems, laundry facilities and appliances, as well as energy daylight sensors and water conserving fixtures.

• New Apple Yard Terrace Apartments in the City of Jamestown received $2.4 million in funding and $650,000 in tax credits (which will generate $5 million in investor equity). The project is a collaborative effort between the City, State and Federal agencies, as well as the Community Preservation Corporation, and will provide 35 affordable units for families and people with psychiatric disabilities. Amenities include laundry facilities and computer lab, as well as energy and water conserving fixtures.

• White's Livery Apartments in Buffalo received $2.2 million in funding. The project has also received financing from the City of Buffalo and Federal Home Loan Bank Affordable Housing program and will provide 14 units for people with physical disabilities or traumatic brain injuries. The project preserves a historic façade and uses Energy Star rated appliances, fixtures, and heating systems.

• Voters Block Community in Rochester was approved for $1.8 million in funding and $1.3 million in annual tax credits, which will provide $10.1 million in investor equity. The project has also received funding from the City of Rochester and Rochester Housing Authority and will provide 92 units for homeless families and people recovering from alcohol or substance abuse. Features include Energy Star rated appliances and fixtures as well as a computer lab and outdoor patio.

Western New York communities will also receive 14 awards from the NYS Community Development Block Grant (NYS CDBG) program, totaling $6.2 million which will leverage additional funding and generate $9.6 million in economic activity throughout the region.

The NYS CDBG program provides eligible communities with resources to develop affordable housing, prevent or eliminate slums or blight, meet an urgent community development need and create job opportunities for low and moderate income residents.

A NYS CDBG award of $750,000 was approved for Wayne County to construct a new pre-school and child care center that will serve 90 children, most of whom are from low-income families. The Village of Newark has agreed to donate a three-acre site for the facility, and the school will obtain financing of up to $250,000 from private sources.

Western New York communities will also benefit from 15 awards through the NY Main Street program, totaling $5.3 million, which will leverage additional funding and generate a total of $14 million in economic activity.

The NY Main Street program is eligible to local governments and not-for-profit agencies to stimulate reinvestment in mixed-use "Main Street" buildings and neighborhoods. The grants can be used to foster small business development, provide jobs and economic opportunities, expand affordable housing opportunities and preserve and encourage adaptive reuse of downtown buildings.

One of the NY Main Street grants, $500,000 to People United for Sustainable Housing (PUSH) in the City of Buffalo, will assist 12 commercial and eight residential units and fund streetscape improvements in the Grant-Ferry neighborhood. The "Gateway to Grant" project is also being funded by the property owners, and the Local Initiatives Support Corporation.

A full list of awards by county is available at:

Capital Awards:

http://nysdhcr.gov/Funding/Awards/UnifiedFunding/2010/

NYS CDBG awards:

http://nysdhcr.gov/Funding/Awards/NYSCDBG/2010/

NY Main Street awards:

http://nysdhcr.gov/Funding/Awards/NYMS/2010/