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New York State to Receive $91 Million for Affordable Housing

New York State Affordable Housing

New York Governor Andrew M. Cuomo announced that New York is positioned to add 2,060 units of affordable housing across the state. The new housing projects, which will include both new builds and restored housing, will affect families in New Albany, Central New York, Long Island, New York City, Orange County, Jefferson County, Monroe County, North, South and Western New York.

The impressive undertaking is the result of New York State Homes & Community Renewal (HCR)'s Unified Funding Application process. The organization will provide 33 funding awards totaling over $91 million in low-interest loans and tax credits which will result in adding 2,060 units of affordable housing throughout the state.

By bringing together resources from both state and federal housing programs, such as HCR, Low-Income Housing Trust Fund Program (HTF), Federal Low-Income Housing Tax Credits (LIHTC), the HOME Capital Program, and State Low-Income Housing Tax Credits (SLIHC), the state will be able to make a significant difference in increasing affordable housing for low- and medium-income residents.

As the new units progress toward completion, residents can continue to check on the the official New York State government web site for information on availability within their county.

For more information, visit www.nyshcr.org/Programs/NYSHome/LPAs.htm

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