NYS AHC approves $4.175 million for 169 affordable housing units

$4.175 million in grants have been awarded to build and preserve 169 units of affordable housing throughout NYS. The grants, which will help build units in N.Y.C., Oswego County and Monroe County, are part of the governor's efforts to create and expand affordable housing opportunities throughout the state. The grants were approved by the NYS Affordable Housing Corp. (AHC), which provides grants to not-for-profit housing organizations to help subsidize the cost of newly constructed homes and the renovation of existing housing. Increasing affordable housing has been a priority for many years. In the State of the State address, he proposed a historic investment in affordable housing through the $400 million Housing Opportunity Fund. Adoption of the Housing Opportunity Fund will be critical in efforts to address the crisis in affordable housing. Senator Liz Krueger said, "The state of New York is decades behind where it should be in creating and preserving desperately needed affordable housing. Every dollar we invest in construction and rehabilitation of housing is multiplied in the local economy through new jobs and tax revenue. A win/win situation for all." Assemblyman Vito Lopez, chair of the assembly housing committee, said, "I would like to commend... Priscilla Almodovar for again making the development of affordable housing units a top priority. These homeownership opportunities are vital to keeping these neighborhoods strong and allowing people to remain in the communities they call home." Assembly member Mike Fitzpatrick said, "I applaud the...AHC for their help in preserving families and communities in NYS. As our commitment to affordable housing expands, economic growth and strengthened communities are the natural outcome." Priscilla Almodovar, president and CEO of AHC, said, "These grants show our commitment to increasing homeownership across the state. With our not-for-profit partners, we use our resources to help more New Yorkers achieve the American dream and to strengthen neighborhoods at the same time." The projects are as follows: * N.Y.C.: AHC approved three grants to the Housing Partnership Development Corp.: $1.455 million to build a 39-unit condo in the Morris Hts. section of the Bronx; $862,500 to build 27 units on sites in Brooklyn; and $807,500 to build 23 units on scattered sites in the Ocean Hill-Brownsville section of Brooklyn. * Oswego County: AHC approved a $300,000 grant to the Oswego Housing Development Council to help finance improvements on 30-single family homes in the county. * Monroe County: AHC approved a $750,000 grant to the Greater Rochester Partnership Housing Development Fund Corp. for the acquisition and rehabilitation of 50 single-family homes in Rochester.