Capital Region Economic Development Council Announces Progress on Housing Rehabilitation and Community Revitalization Projects
The Capital Region Economic Development Council today announced that 20 housing rehabilitation and community development projects have signed contracts with the state and are moving forward with the first stages of $4.7 million in awards from Governor Andrew M. Cuomo’s Regional Council initiative. The projects will restore and rehabilitate homes for 350 families in the Capital Region, and the state’s funding allocation will leverage additional investment of nearly $6 million.
“As both a business owner in the Capital Region and Regional Council member, the progress we are seeing as a result of the Governor’s community-based approach to economic development is truly encouraging,” said Ann Moynihan, President of Documentation Strategies Inc. and Capital Region Economic Development Council member. “With development projects like these improving our neighborhoods, we will be better able to encourage private investment and spur economic growth across the region.”
“HCR is proud to work alongside Capital Region housing experts and move forward on these projects that will help implement the Regional Council’s vision for economic recovery,” said HCR Commissioner & CEO Darryl C. Towns. “With contracts signed, these projects are moving closer to reality and will benefit the entire region.”
Investments made through the Regional Council initiative will be administered by New York State Homes and Community Renewal (HCR), the state’s housing agency. The housing rehabilitation investments in the Capital Region include:
- $486,000 investment to South End Improvement Corporation, through the HOME program, to rehabilitate 20 homes of low-income people in the City of Albany
- $400,000 investment to the City of Watervliet, through the CDBG program, to rehabilitate nine single-family and nine multi-family homes in the City of Watervliet
- $400,000 investment to the City of Cohoes, through the CDBG program, to rehabilitate 28 rental homes in the City of Cohoes
- $400,000 investment to the Albany County Rural Housing Alliance, Inc., through the HOME program, to rehabilitate 12 homes benefitting low-income people
- $300,000 investment to Albany County Rural Housing Alliance, Inc., through the AHC program, to improve 16 single-family and two two-family homes on various sites in Albany County
- $300,000 investment to the City of Albany, through the AHC program, to improve 15 single-family homes, six two-family homes, and one three-family home in the City of Albany
- $300,000 investment to Housing Resources of Columbia County, Inc., through the AHC program, to improve 22 housing units
- $307,000 investment to the Village of Corinth, through the HOME program, to rehabilitate 21 homes benefitting low-income people in the Village of Corinth
- $289,800 investment to the Village of Ballston Spa, through the AHC program, to improve 21 homes in the Village of Ballston Spa
- $276,000 investment to the Town of Fort Edward, through the AHC program, to improve 20 homes in the Town and Village of Fort Edward
- $250,000 investment to NYSARC Inc. Warren and Washington County Chapters, through the Access to Home program, to improve the homes of people with disabilities and frail elderly in Warren and Washington counties
- $200,000 investment to Saratoga County Rural Preservation Company, through the Access to Home program, to help people with disabilities, disabled veterans, and frail elderly in Saratoga County make accessibility improvements to their homes
- $200,000 investment to Homefront Development Corporation, through the AHC program, to improve 10 homes in Washington County
- $198,000 investment to the Village of Corinth through the AHC program, to improve 15 units in the Village of Corinth
- $75,000 investment to Community Land Trust of Schenectady, Inc., through the RESTORE program, to conduct emergency repairs for elderly, frail elderly, and physically disabled homeowners in the City of Schenectady
- $75,000 investment to South End Improvement Corporation, through the RESTORE program, to conduct emergency repairs for elderly and frail homeowners in the City of Albany
- $75,000 investment to Albany County Rural Housing Alliance, Inc., through the RESTORE program, to conduct emergency repairs for elderly, veteran, and frail elderly homeowners in Albany County
- $75,000 investment to the City of Glens Falls, through the RESTORE program, to conduct emergency repairs for 12 elderly homeowners in the City of Glens Falls
- $75,000 investment to Housing Resources of Columbia County, through the RESTORE program, to make emergency housing repairs to 10 homes of elderly, frail elderly, and physically disabled homeowners in Columbia County
- $50,000 investment to Catskill Mountain Housing Development Corporation, Inc., through the RESTORE program, to conduct emergency housing repairs for elderly homeowners in the Greene County area
Last year, a total of $785 million was awarded through the Consolidated Funding Application (CFA) for job creation and community development projects consistent with each region’s strategic plans.
Albany County Executive Daniel P. McCoy said, “Public-private partnerships are clearly one of the best ways to navigate through our changing economic times. These investments are being made to rehabilitate rental homes, single family homes, two-family homes for families preparing for a brighter future. Monies are also being invested in homes for those with disabilities, disabled veterans, and our elderly, many of whom have devoted their lives to our country and community. We need to be taking creative approaches like this to leverage every dollar we can to maximize the impact.”
Columbia County Chairman of the Board of Supervisors Patrick Grattan said, “On behalf of all the members of the Board of Supervisors of Columbia County, I want to thank everyone who worked to obtain the $75,000 grant for Housing Resources of Columbia County. These much-needed funds will make emergency housing repairs to 10 homeowners who are elderly, frail or disabled. These funds will provide a direct benefit to those who are needy and need help to maintain their homes.”
Saratoga County Chairman of the Board of Supervisors Thomas N. Wood, III said, “Saratoga County is pleased to be working with the Capital Region Economic Development Council and New York State Homes and Community Renewal to improve the quality of life for disabled and elderly residents in our communities. We applaud the state's commitment to these important community development projects and look forward to continuing our successful partnership.”
Schenectady Chair of the Legislature Judith Dagostino said, “The Capital Region Economic Development Council has helped us move forward with several key initiatives including the redevelopment of the former ALCO site on the Mohawk River and Schenectady County’s Airport Business Park. The County’s unified economic development team appreciates the vigorous support it’s received from Governor Cuomo and the Capital Region Economic Development Council. We look forward to continuing to work with our partners on the Council to move Schenectady County and our region forward.”
Warren County Chairman of the Board of Supervisors Daniel G. Stec said, “Grant funding provided through the Regional Council initiative has resulted in a number of projects being advanced, which benefit many of our local municipalities and residents. Projects such as the Lake George Environmental Park, Westbrook Conservation project, the First Wilderness Corridor initiative and others are all moving ahead as a result of the grant awards. We appreciate the follow-up, monitoring and readily available assistance by the Governor’s Office and other state officials with regard to these awards and projects.”
The Affordable Housing Corporation within HCR supports homeownership opportunities for low and moderate- income families by providing grants to municipalities and not-for-profit organizations to assist in the costs of home improvement, the rehabilitation of existing housing and the new construction of homes for homebuyers.
The RESTORE (Residential Emergency Services to Offer Repairs to the Elderly) Program awards funds through municipalities and not-for profit organizations serving as local program administrators to pay for the cost of emergency repairs to eliminate hazardous conditions in homes owned by the elderly who are unable to afford to make repairs in a timely manner. To be eligible for assistance, homeowners must be 60 years of age or older, live in a 1-4 family house and have a household income which does not exceed 80 percent of area median income.
Access to Home provides financial assistance to homeowners and rental property owners through municipalities and not-for-profit organizations serving as local program administrators, to make dwelling units accessible for low- and moderate-income persons with disabilities. The assistance is typically structured as a forgivable zero percent interest loan.
The federally-funded Community Development Block Grant (CDBG) program provides financial assistance to eligible counties, cities, towns, and villages to help develop viable communities by providing decent affordable housing and expanding economic opportunities. The grants are awarded through the Housing Trust Fund Corporation. The HOME Program is a federally-funded allocation to expand the supply of affordable housing stock. HOME funds a variety of affordable housing activities, including new construction, rehabilitation/preservation, home improvement and home buyer assistance that are undertaken by municipalities and not-for-profit organizations that serve as local program administrators.
To learn more about each regional council and their economic development plans, visit www.regionalcouncils.ny.gov. For information on how the New New York is working for business, please visit www.thenewny.com.