Senator Bill Larkin (R-C, Cornwall-on-Hudson) today announced state funding to support affordable housing initiatives in Orange and Ulster Counties. The funding comes from low interest loans and grants from the New York State Housing Trust Fund Corporation and federal and state Low Income Housing Credits administered by the State Division of Housing and Community Renewal (DHCR).
"These grants will benefit working families, seniors, the disabled and small retail business owners," said Senator Larkin. "They will help develop more housing opportunities, rehabilitate existing homes, and provide home buyer assistance for first-time homeowners."
The Low Income Housing Trust Fund program, the HOME program, the Federal Low Income Housing Credit program, and the New York State Low Income Housing Credit program handle new housing development.
Rehabilitation, purchase assistance and emergency or accessibility improvements will be accomplished through awards from the HOME Program, the RESTORE program, or the Access to Home Program. Funding to stimulate re-investment in New York’s commercial districts is being provided by the New York Main Street Program.
Senator Larkin announced the following awards:
Hamaspik - Access To Home Program - $200,000.
Newburgh Community Action Committee, Inc. - HOME Program - $600,000.
Regional Economic Community Action Program - RESTORE Program - $50,000
Montgomery Manor - Low Income Housing Trust Fund - $1.75 M.
Montgomery Manor - Low Income Housing Credits - $995,000.
Rural Ulster Preservation Company, Inc. - Access To Home Program - $200,000.
Rural Ulster Preservation Company, Inc. - HOME Program - $500,000.
Rural Ulster Preservation Company, Inc. - New York Main Street Program - $200,000.