Affordable Home Ownership Development Program
The Affordable Home Ownership Development Program (AHODP), administered by the New York State Affordable Housing Corporation (AHC), provides financial assistance for the construction, acquisition, rehabilitation, and improvement of owner-occupied housing. The purpose of the program is to promote home ownership by persons of low and moderate income, which, in turn, fosters development, stabilization, and preservation of neighborhoods and communities.
AHC may provide grants within the following per unit limitations: up to $20,000 per unit, or $25,000 per unit within the limits of available funding, per unit for projects located in high cost areas as defined by AHC, or projects receiving a U.S. Department of Agriculture Rural Development Service (formerly the Farmer's Home Administration) Loan. To encourage the leveraging of other private and public funds, the Corporation grants cannot exceed 60% of the total project development cost.
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Funding Category: |
Grants for the Construction, Acquisition, Rehabilitation, and Improvement of Owner-Occupied Housing |
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Target Population: |
Low and Moderate Income Home Owners |
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Funding Available: |
AHC funds are limited to the lesser of 60% of the project cost or $20,000 per unit ($25,000 per unit when the Project is in a “high cost area” or receives a U.S. Department of Agriculture Rural Development Service Loan). Home improvement projects are limited to a maximum grant award of $300,000. |
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Application Information: |
AHC RFP 2001-2002, For more information, contact: Caroline Telfer-Mingo, (212) 688-4000 x438; FAX: (212) 872-0438; e-mail: carolinet@nyhomes.org |
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Contact: |
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Links to More Info: |
AHC - Affordable Home Ownership Development Program |
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Administering Agency: |