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New York State allocates more than $500 million in housing renovation

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New York State housing agencies approved over $500 million in financing in grants to improve and construct new affordable housing. The boards of the New York State Housing Finance Agency and the Affordable Housing Corporation approved $258.4 million to create and preserve 1,347 units of housing. $263.1 million will go to building and renovating affordable housing, promoting business development and creating jobs. “The AHC grants announced today are important investments that will stabilize and develop communities across New York State," said Assembly Housing Committee speaker Sheldon Silver. "At a time when we are seeing high unemployment rates and rising homelessness, it is crucial that we protect and preserve affordable housing. This funding will help more families meet their housing needs, while providing much needed jobs.” Additionally, the board of the Housing Trust Fund Corporation approved more than $4.7 million in awards through New York State's Subprime Foreclosure Prevention Services Program and Community Development Block Grant Program (CDBG). Several funds received funds from multiple agencies, including a program that deals with the crisis of outdated, dilapidated and dangerous mobile and manufactured homes. For a full list of allocated funds, see the New York State official website. Write to Christine Ricciardi.

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