New York Governor Kathy Hochul announced funding totaling over $46 million dollars to support affordable homeownership within the state. It is expected 1,400 households will benefit from the grant funding.
The grants will go towards helping low and moderate income families make repairs or safety upgrades to their homes, replace manufactured homes, and provide down payment assistance for first time homebuyers.
“As housing costs continue to rise, this significant investment will help carve out a path to affordable homeownership for 1,400 New York families,” Governor Hochul said. “My administration is using every tool at our disposal to address the state’s housing crisis, and we will continue to push forward on programs, strategies, and funding initiatives that put New Yorkers in safe, affordable homes.”
The City of Cortland and the Village of Homer were named in the list of awardees announced by the state. Cortland was awarded $500,000 for their Community Development Block Grant program for housing rehabilitation. The Village of Homer was awarded $480,000 for the same program and goal of housing rehabilitation.
The grants – administered by New York State Homes and Community Renewal’s Office of Community Renewal – were awarded to nonprofit organizations and localities to help preserve affordable housing, support veterans and older New Yorkers, increase access to homeownership, and strengthen local economies.