NYS Affordable Housing Corporation Approves $300,000 Grant to Renovate 30 Homes in Onondaga County

NEW YORK, NY (01/28/2010)(readMedia)-- The board of the New York State Affordable Housing Corporation (AHC) today approved a $300,000 grant to Home HeadQuarters, Inc. to renovate 30 single-family homes in Onondaga County.

"Our actions today will improve the aging housing stock and provide better living conditions for eligible families in Onondaga 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 finance renovations in neighborhoods designated as revitalization and transitional areas by the City of Syracuse and Onondaga County. Improvements include lead removal, structural repairs, roof replacements, door and window replacements, hard-wired smoke detectors, electrical, plumbing, furnace and duct work. Homeowners will be selected on a first-come, first-served basis. The project will be reserved for households with incomes up to $50,960 for a family of four.

The total cost of the project is $600,000. In addition to the AHC grant, the program will be funded by $259,878 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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