The Capital projects category will use $87 million to net equity, according to a statement released by Governor Paterson, and will "help developers leverage an additional $340 million in funding from federal, local and private sources." The goal is to create 1,951 units of affordable housing. Primarily this will consist of new construction, although this category also provides for unnamed rehabilitation projects.
The Local Program Administrator awards are going to three DHCR programs to build, modify or rehabilitate housing for the disabled, senior citizens and low-income families. The HOME program will command $29.6 million to build and revamp 1,481 units for low-income families. The program is designed to work with developers, local government and non-profits to acquire, redevelop or construct housing for low-income home-buyers or renters.
ACCESS to Home is a program designed to create better accessibility for the frail, elderly or disabled. $14 million will go towards modifying 917 units creating safer, more comfortable environments, allowing senior citizens or the disabled to continue living in their homes, avoiding institutionalization.
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