NYS Affordable Housing Corporation Approves $69,502 for Two New Homes in Clinton

NEW YORK, NY (07/26/2007)(readMedia)-- The Board of the New York State Affordable Housing Corporation (AHC) today approved $69,502 to replace two mobile homes with two new homes in Clinton County.

The funding is part of a $133,024 effort to replace dilapidated mobile homes with permanent housing in Clinton County. AHC’s grant will go to the Friends of the North Country Inc., which provides affordable and safe housing to low- and moderate-income households.

“The Affordable Housing Corporation is dedicated to improving housing for working class families throughout New York State,” said Priscilla Almodovar, President and Chief Executive Officer of AHC. “We are happy to partner with the Friends of the North Country and the Division of Housing and Community Renewal to provide new permanent housing for two families in Clinton County.”

“The NYS HOME program and the NYS Affordable Housing Corporation have made it possible for Friends of the North County, Inc. to develop permanent housing for income eligible families who would otherwise be unable to make such a dramatic improvement in their living conditions,” said Scott Campbell, Executive Director of the Friends of the North Country. “We look forward to continuing and expanding this program to benefit the three-county area of northeastern New York.”

AHC is funding an ongoing project to replace irreparable mobile homes with permanent homes in Clinton County. The two grant recipients have been selected from a wait list of eligible recipients. Both recipients earn less than the 2007 Low Income Limits set by the U.S. Department of Housing and Urban Development, which is $45,850 for a family of four in Clinton County.

Funding for the program includes AHC’s $69,502 grant, $62,255 in HOME funds from the NYS Division of Housing and Community Renewal, and homeowner equity.

___

AHC is a subsidiary of HFA and was established in 1985 to promote homeownership by low- and moderate-income households, by providing financial assistance as approved annually by the New York State Legislature, in conjunction with other private and public investment, for the construction, acquisition, rehabilitation, and improvement of owner occupied housing.

AHC Contact: Philip Lentz, Director of Communications, 212-688-4000 ext. 679, plentz@nyhomes.org

Friends of the North Country Contact: Scott Campbell, Executive Director, 518-834-9606, scampbell@friendsofthenorthcountry.org

# # #