DHCR and "nyhomes" Announce $32 Million in Affordable Housing and Community Renewal Awards for Central NY

ALBANY, NY (08/27/2010)(readMedia)-- The State Division of Housing and Community Renewal (DHCR) and "nyhomes" today announced $32 million in awards for communities in Central New York. The awards will help to develop affordable, revitalize downtowns, and upgrade water and sewer systems. The awards will leverage an additional $52 million from other private and public sources, bringing a total of $84 million in economic activity to Central New York.

The funding will help to:

• build or rehabilitate 722 affordable housing units for working families, seniors, and people with disabilities, including 14 units of supportive housing with services;

• create 100 homeownership opportunities, revitalize the central business districts of nine cities, towns, and villages, and

• build or improve public health, water and sewer facilities, benefiting more than 6,500 Central New York residents.

Additionally, the awards are expected to create or support more than 400 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 Central New York awards include:

• Homes of Syracuse in Syacuse. The Syracuse Housing Authority received $2.4 million in funding and $1 million in Low Income Housing Tax Credits (which will generate $8 million in equity). The project is part of the City of Syracuse's Southside Revitalization Plan and will create 50 affordable housing units, including six fully accessible units and two units adapted for people with hearing or vision impairments. The apartments will feature Energy-Star rated appliances, Green Label flooring, and low VOC paints.

• Kennedy Plaza in Utica. Liberty Affordable Housing received $1.3 million in Low Income Housing Credits (which will generate $10.4 million in equity). The project is the rehabilitation and preservation of an 88-unit Mitchell Lama development and will serve low-income households and persons with special needs including those with developmental disabilities and physical disabilities. The project rehabilitation is being coordinated by the integrated state housing agencies, DHCR and nyhomes, with the $21.2 million high-rise portion of the building in line to receive funding from the Housing Finance Agency. The development will provide five fully accessible units for persons with mobility impairments and two units for persons with hearing or vision impairments. Amenities include laundry facilities and outdoor patio and garden space.

Central New York communities will also receive 28 awards from the NYS Community Development Block Grant (NYS CDBG) program, totaling $12.7 million which will leverage additional funding and generate $10 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 St. Lawrence County to assist 45 low-and moderate-income families through the St. Lawrence County Direct Homeownership Assistance Program. Grants of up to $30,000 per household will be provided to assist with the downpayment and closing costs. The county has conducted strategic planning and a Community Needs Assessment and determined that first-time homebuyer assistance is a top priority.

Central New York communities will also benefit from nine awards through the NY Main Street program, totaling $3.8 million, which will leverage additional funding and generate a total of $8.3 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 the City of Auburn in Cayuga County, will assist four commercial and five residential units as part of Auburn's Downtown Business District Main Street Creative Corridor Redevelopment Plan. The NY Main Street grant will leverage an additional $1.8 million for the project.

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/