NYS Affordable Housing Corporation Approves $240,000 Grant to Renovate 12 Homes in Columbia County

NEW YORK, NY (01/28/2010)(readMedia)-- The board of the New York State Affordable Housing Corporation (AHC) today approved a $240,000 grant to Housing Resources of Columbia County (HRCC) to finance improvements for 12 homes in Columbia County.

"Our actions today will improve the aging housing stock and provide better living conditions for eligible families in Columbia County," said Judd S. Levy, AHC Chairman. "Our grant reinforces Governor Paterson's mission of providing affordable housing even in these difficult economic times."

The AHC grant will be used to rehab substandard units within the county by assisting low- and moderate- income families with financial assistance for home improvement repairs. The homes are in poor condition due to the lack of adequate maintenance throughout the years and are a potential threat to the health and safety of homeowners and their families. Typical home improvements include replacing or repairing roofs, foundation/structural repairs, heating and electrical systems, windows, and plumbing. The project is reserved for households with incomes up to $58,598 for a family of four.

The total cost of the project is $410,000. In addition to the AHC grant, the project will receive a $5,000 grant provided by the Columbia County Office for Aging, $60,000 in Community Development Block Grant funds provided by the Governor's Office for Small Cities, $45,000 in Weatherization funds provided by Columbia Opportunities Inc., and $50,000 in Revolving Loan Funds provided by Housing Resources of Columbia County.

____

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.

###