Nearly $8 million in funds secured to help New Yorkers achieve home ownership dream

The American Dream of home ownership is closer than ever.

Nearly $8 million in funds are going towards the construction, rehabilitation and improvement of 295 income-eligible homeowners across New York, Governor Andrew Cuomo announced on Tuesday, December 27.

“We are committed to helping all New Yorkers achieve and preserve the American Dream of home ownership, and this funding will build and improve affordable owner-occupied housing in every corner of the state,” he said.

The funds are administered by the Affordable Housing Corporation, through New York State Homes and Community Renewal’s Affordable Home Ownership Development Program (AHODP).

The AHODP will award up to $40,000 per home to eligible municipalities, municipal housing authorities and not-for-profit and charitable organizations that develop affordable housing or funds necessary home repairs.

“This program supports this administration’s efforts to build stronger, more resilient communities and helps to create a stronger, fairer and more affordable New York for all,” Cuomo said.

The awards announced for New York City include: $1,200,000 to SBP, Inc. for the improvements of 30 homes across queens and Kings County damaged in Hurricane Sandy; $1,825,000 to Housing Partnership Development Corporation for the new construction of 49 units in Brownsville and East New York sections of Kings County and $880,000 to Restored Homes Housing Development Fund Corporation for the acquisition and rehabilitation of 22 Queens County units.