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Funds available to expand homeownership in Finger Lakes
Funds available to expand homeownership in Finger Lakes
Listen to this articleNearly $2 million has been set aside by the state Homes and Community Renewal to expand homeownership in the Finger Lakes.
Some 56 Finger Lakes households will benefit from the $1.7 million that is being awarded to area agencies. The funding is part of $28 million awarded to nonprofit organizations and municipalities that will support 929 households statewide in rehabilitating and improving existing homes, increasing their access to affordable homes and provide down payment assistance to help families achieve the dream of homeownership, officials said.
Homes and Community Renewal Commissioner RuthAnne Visnauskas said safe, affordable homeownership is essential to keeping the Finger Lakes’ economy moving forward.
“By helping families make upgrades and repairs to their homes, we are enhancing neighborhoods and building safer communities, which is central to Gov. (Andrew) Cuomo’s historic commitment to expanding access to affordable homes across New York State,” Visnauskas said in a statement.
Awards for the Finger Lakes region include:
• Livingston County—$500,000 to the Village of Nunda to support rehabilitation activities for 15 homeowners in Livingston County through the Community Development Block Grant (CDBG) program; and $500,000 to the Town of Springwater to support rehabilitation activities for 16 homeowners in Livingston County through the CDBG program.
• Genesee, Monroe, Ontario, Orleans and Wayne counties—$250,000 to Rural Housing Opportunities Corp. to support rehabilitation activities for 10 homeowners in the five counties through the HOME Local Program.
• Ontario, Steuben, Wayne and Yates counties—$450,000 to Bishop Sheen Ecumenical Housing Foundation Inc. to support rehabilitation activities for 15 homeowners in the four counties.
The CDBG program provides financial assistance to eligible cities, towns and villages with populations under 50,000 and counties with an area population under 200,000, in order to develop viable communities by providing decent, affordable housing and suitable living environments, as well as expanding economic opportunities, principally for persons of low and moderate income.
The HOME Local Program funds a variety of activities through partnerships with counties, towns, private developers and nonprofit housing organizations. The program provides funds to acquire, rehabilitate or construct housing or to provide assistance to low-income homebuyers and renters.
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