Last Friday, New York Governor Kathy Hochul announced that 1,060 households across the state will benefit from $51 million in grants. This is a government assistance that seeks to support affordable homeownership. This benefit will be targeted to low- and moderate-income households that meet certain characteristics.
Characteristics of the housing subsidies for New York
The Hochul housing grant for New York will be specifically for families who need to make repairs and safety improvements to their homes. In addition, they will provide down payment assistance for first-time homebuyers. However, these individuals must not exceed a certain income limit.
These grants, administered by the New York State Office of Community Housing Renewal, were awarded to nonprofit organizations and localities to help preserve affordable housing, support veterans and older New Yorkers. They are also intended to increase access to homeownership and strengthen local economies.
Federally and State Funded Programs
This benefit will be delivered through federally and state funded programs. These include the NYS Home, NYS Community Development Block Grant, Access to Home, Access to Home for Heroes, Access to Home for Medicaid, Mobile and Manufactured Home Replacement and RESTORE. Each program accepts applications in an annual competitive funding round and has the following features:
- NYS Home Program Funds can be used to acquire and/or rehabilitate single-family homes, replace dilapidated mobile and manufactured homes, and provide down payment assistance. It also serves for rental to households with incomes at or below 80 percent of the area median income.
- The NYS Community Development Block Grant Program provides federal funds to assist localities with projects that improve communities and benefit their residents. Housing grants can be used to rehabilitate owner-occupied tenant-occupied housing. In addition, they are used for down payment assistance for first-time homebuyers and for assistance with private water and wastewater systems.
- The Access To Home Program provides financial assistance to make housing accessible to low- and moderate-income persons with disabilities. They can continue to live safely and comfortably in their residences or return to live in their residences.
- Access to Home for Heroes provides financial assistance for veterans. It helps make housing affordable for this social group who are disabled and have low to moderate incomes.
- Access to Home for Medicaid provides financial assistance to make residential units accessible to Medicaid-eligible persons with disabilities.
- The mobile and manufactured home replacement program assists low- and moderate-income homeowners. This provides an incentive to replace dilapidated mobile or manufactured homes on land they own.
- RESTORE provides financial resources to assist seniors with the cost of making emergency repairs. In addition, it serves to address code violations that pose a threat to their health and safety or affect the habitability of the home. Assistance with the cost of these critical repairs allows seniors to continue to live independently in their homes.
Grants by Region
- Capital Region: receives $9,205,500 for 217 assisted housing units.
- Central NY: receives $6,145,000 for 104 units of assisted living.
- Finger Lakes: receives $2,338,444 for 64 units of assisted housing.
- Long Island: receives $2,300,000 for 64 units of assisted housing.
- Mid-Hudson: receives $5,267,000 for 127 units of assisted housing.
- Mohawk Valley: receives $6,703,777 for 70 units of assisted housing.
- New York City: receives $600,000 for 44 units of assisted housing.
- North Country: receives $6,343,600 for 86 units of assisted housing.
- Southern Tier: receives $7,597,480 for 144 units of assisted housing.
- Western NY: receives $4,560,000 for 140 units of assisted housing.
