NYS Affordable Housing Corporation Approves $250,000 Grant for Home Improvements in Oswego County

NEW YORK, NY (03/04/2010)(readMedia)-- The board of the New York State Affordable Housing Corporation (AHC) today approved a $250,000 grant to the Oswego County Department of Community Development, Tourism and Planning to renovate 30 homes in Oswego County.

"This grant will help upgrade aging housing stock and improve the quality of life in Oswego County," said Judd S. Levy, AHC Chairman. "Our funding reinforces Governor Paterson's mission to preserve affordable housing even in difficult economic times."

The AHC grant will be used to renovate 30 single-family homes located on scattered sites throughout Oswego County. This project will target households with individuals with disabilities, frail elderly and victims of domestic violence. Improvements will focus on energy efficiency repairs as well as roof repair or replacement, and structural and safety issues. Eligible households can have incomes up to $57,075 for a family of four.

The total cost of the project is $825,000. In addition to the AHC grant the program will receive $500,000 in Community Development Block Grant funds provided by the City of Syracuse.

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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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