New York Pledges $8 Million for Community Redevelopment

Blog posted On January 04, 2017

Andrew Cuomo, Governor of New York and former HUD Secretary, announced Tuesday the disbursement of $8 Million for the construction, rehabilitation, and repair of homes across the state of New York.  The funds will be administered by the state’s Affordable Housing Corporation to make improvements to existing owner-occupied homes, to acquire and rehabilitate homes for sale, and to construct new homes for sale.  

Governor Cuomo pledged in his Tuesday statement, “we are committed to helping all New Yorkers achieve and preserve the American Dream of homeownership, and this funding will build and improve affordable owner-occupied housing in every corner of the state.”

HousingWire reports the funds will be distributed accordingly:

• $1,200,000 to SBP, Inc. for homes in Queens and Kings County damaged in Superstorm Sandy
• $1,825,000 to Housing Partnership Development Corporation for new construction in the Brownsville and East New York sections of Kings County
• $880,000 to Restored Homes Housing Development Fund Corporation for the acquisition and rehabilitation in Queens County
• $700,000 to Community Action Organization of Erie County for home improvement in the City of Buffalo, Erie County
• $440,000 to Rural Housing Opportunities Corporation for home improvement of approximately sites in Genesee, Orleans, Monroe, Wayne, and Ontario Counties
• $450,000 to Homsite Fund, Inc. for home improvement in the City of Auburn in Cayuga County
• $300,000 to Better Neighborhoods, Inc. for home improvement in the city of Schenectady, Schenectady County
• $350,000 to North Country Affordable Housing, Inc. for acquisition and rehabilitation in Jefferson County
• $400,000 to Housing Assistance Program of Essex County, Inc. for acquisition and rehabilitation in Clinton and Essex Counties
• $440,000 to Community Housing Innovations, Inc. for acquisition and rehabilitation in Westchester
• $1,000,000 to Arbor Housing and Development for home improvement in Chemung, Steuben, Schuyler, and Allegany Counties  

The eligible units include single and multi-family homes, condominiums and cooperatives.  Through the state’s Affordable Housing Corporation more than 8,700 homes have been rehabilitated and made safer for occupancy.  

Sources: HousingWire, Brooklyn Reporter