NYS Affordable Housing Corporation Approves $150,000 Grant to Renovate 12 Homes in Jefferson County

NEW YORK, NY (09/10/2009)(readMedia)-- The board of the New York State Affordable Housing Corporation (AHC) today approved a $150,000 grant to the Frontier Housing Corporation to renovate 12 single-family homes in several towns in Jefferson County.

"This grant will be used to improve the aging housing stock in the North Country," said Priscilla Almodovar, AHC President and Chief Executive Officer. "Our financing today reinforces the Paterson administration's mission to protect affordable housing even in these difficult economic times."

The grant will be used to rehab homes in Brownsville, Hounsfield, and Lyme. The project will focus on necessary repairs for low-income persons with disabilities or mobility limitations. Funds will be used to provide for the installation of ramps, lifts, modifications to kitchens and bathrooms, and installation of devices to enhance livability by persons with visual or hearing impairments. The project's aim is to prevent disabled persons from being institutionalized, and to provide those who have been institutionalized an opportunity to return to their homes.

The income limits for the units will be households earning no more than $49,190 for a family of four. The total cost of the project is $260,000. In addition to the AHC grant, financing includes $110,000 in HOME funds provided by the North Country Home Consortium.

AHC also approved a $748,000 grant to Habitat for Humanity of New York State to build 22 single-family homes in nine counties across the state, including Jefferson County. The homes will be built on land donated by the local municipalities.

All the homes will include Energy Star appliances and low-cost, energy-efficient heating and cooling systems. Habitat for Humanity of New York State will act as the developer for the project and oversee the selection and supervision of builders, construction monitors and maintain progress reports. Local Habitat affiliates will act as the builders and be responsible for the evaluation, screening and selection of applicants.

Homeowners will be required to complete 300 to 500 hours of sweat equity on the construction of their home in lieu of a significant down payment. The grant awards will be limited to households earning up $27,450 for a family of four in Jefferson County.

The total cost of the project is $3.1 million. In addition to the AHC grant, the project will be funded with $461,825 in program funds provided by Habitat affiliates and land donated by the counties.

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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.

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