NYS Affordable Housing Corporation Approves $485,000 in Grants to Renovate 51 Western New York Homes

NEW YORK, NY (06/10/2010)(readMedia)-- The board of the New York State Affordable Housing Corporation (AHC) today approved $485,000 in grants to fund home renovations to 51 affordable homes in Western New York.

"These grants will help improve the aging housing stock in Niagara and Erie counties," said Brian E. Lawlor, AHC President and CEO. "They demonstrate Governor Paterson's commitment to preserving affordable housing even in these difficult economic times."

Niagaracap Home Repair Program

AHC approved an $80,000 grant to the Niagara Community Action Program, Inc. to finance renovations to 16 owner-occupied homes in Niagara County, where more than 48% of the homes were built before 1960.

The grant will be used to correct structural defects and building systems which might threaten the health or safety of the occupants, such as unsafe electrical systems, non-functioning plumbing systems, septic systems, foundations, repairs/replacement of windows and doors, roofing, gutters and down spouts, siding, insulation, and ineffective heating systems. Participants will be chosen on a first-come, first-served basis. The project will be reserved for households with incomes up to $56,896 for a family of four.

The total cost of the project is $134,700. In addition to the AHC grant, the program will receive $20,000 in weatherization funds provided by the NYS Division of Housing and Community Renewal (DHCR) and $34,700 provided by a consortium of 12 towns within Niagara County.

Niagara Falls Neighborhood Housing Services Home Improvement Program

AHC approved a $225,000 grant to the Niagara Falls Neighborhood Housing Services, Inc. to finance improvements to 15 homes in Niagara County.

The funds will be used to correct basic structural defects or foundation problems. These include replacement roofs, doors, windows and siding; upgrading electrical, heating, and plumbing systems, as well as mold remediation and elimination of lead-based paint hazards.

Funding will be provided to owners in matching form, with 60% from AHC funds and 40% provided by the City of Niagara Falls' HOME funds. Qualified applicants will be selected on a first-come, first-served basis with priority given to applicants whose homes pose a serious health, safety, or structural threat. Eligible households can have incomes up to $56,896 for a family of four.

The total cost of the project is $375,000. In addition to the AHC grant, the program will receive $150,000 in HOME funds provided by the City of Niagara Falls.

County of Erie Housing Rehabilitation

AHC approved a $180,000 grant to Erie County to renovate 10 single-family and five two-family homes located in the City of Lackawanna and the Town of Evans. The properties are located in the Lackawanna's First Ward and the Lake Erie Beach neighborhood in Evans.

The funds will be used to correct basic structural defects or foundation problems, replace roofs, doors, windows, siding, upgrade electrical, heating, and plumbing systems, mold remediation, elimination of lead-based paint hazards, handicap accessibility compliance, and replace deficient water and septic systems. Funding will be provided to owners in matching form, with 60% provided from the AHC grant and 40% provided by Erie County from Federal Community Development Block Grant funds as a zero or low-interest loan. The project will be reserved for households with incomes up to $56,896 for a family of four.

The total cost of the project is $300,000. In addition to the AHC grant, the program will receive $120,000 in CDBG funds provided by Erie County.

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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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