NYS Affordable Housing Corporation Approves $300,000 Grant to Rehab 32 Homes in Lewis County

NEW YORK, NY (06/10/2010)(readMedia)-- The board of the New York State Affordable Housing Corporation (AHC) today approved a $300,000 grant to Snow Belt Housing Company, Inc. to finance home improvements of 32 homes in Lewis County.

"This AHC grant-combined with a HOME grant from DHCR-will upgrade the aging housing stock in the North Country," said Brian E. Lawlor, AHC President and CEO and Commissioner of the NYS Division of Housing and Community Renewal (DHCR). "Our funding demonstrates how our state housing agencies are working together to improve living conditions even in these difficult economic times."

The AHC grant will be used to renovate homes of low- and moderate-income families to stabilize and preserve communities throughout Lewis County. The grant will address deficiencies such as roof deterioration, water and septic problems, inadequate electrical service, heating system problems, windows, and internal damage as a result of water seepage. The project will help households with incomes up to $49,190 for a family of four.

The total cost of the project is $1 million. In addition to the AHC grant, the program will receive $243,000 in HOME funds provided by DHCR and $469,741 in Community Development Block Grant funds provided by DHCR.

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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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