New York state has made $59 million available to construct, rehabilitate, and improve the homes of income-eligible families.
“Every New Yorker deserves a safe, affordable and decent place to call home and with this funding we are taking one more step toward that goal,” Gov. Andrew Cuomo said. “This program will help build safer, healthier communities throughout this state and I encourage any eligible organization to apply.”
Funding is available through the state Homes and Community Renewal’s Affordable Home Ownership Development Program, administered by the Affordable Housing Corp., which provides up to $40,000 per dwelling to eligible municipalities, municipal housing authorities, and other nonprofit and charitable organizations that develop affordable housing or assist homeowners in funding necessary repairs.
James S. Rubin, commissioner of Homes and Community Renewal, said the program has made nearly 300 Affordable Housing Corp. awards totaling approximately $141 million. “These funds have created or improved more than 7,500 safe affordable homes across the state. We encourage eligible applicants to apply,” he said.
Officials said AHODP funds will promote homeownership and revitalize communities by:
• Constructing new owner-occupied homes for sale, including single and multi-family homes, condominiums, or cooperatives, and the replacement of dilapidated mobile and manufactured homes. AHC funds may be used for construction financing, permanent financing, infrastructure improvements, site acquisition, down payment and closing cost assistance, and the replacement of dilapidated mobile homes with manufactured or stick-built homes on homeowner-owned land.
