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5 area housing initiatives win subsidies
Published:January 27, 2012, 12:00 AM
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Updated: January 27, 2012, 6:44 AM
Affordable housing initiatives in Buffalo, Niagara Falls and North Tonawanda have been awarded $1.17 million in subsidies.
The awards are part of the Federal Home Loan Bank of New York’s Affordable Housing Program, which awarded $33.6 million to fund 57 initiatives in New Jersey, New York, Maryland and Pennsylvania Thursday.
These are the projects receiving subsidies locally:
• True Bethel Townhouses will receive $390,000 to build 30 units on a former brownfield on East Ferry Street. The project is sponsored by HSBC Bank USA and Belmont Housing Resources for Western New York.
• Cephas House provides affordable, supportive housing to former prison inmates who have gone through rehabilitation programs. It will receive $50,000 to convert a former rectory at Smith and Clinton streets into 10 units of transitional housing. It’s sponsored by M&T Bank and Hope of Buffalo.
• The Hope Center was awarded $280,000 to build Hope Gardens, 14 units to house chronically homeless women at Ruhland and Oberlin avenues. The Polish Community Center of Buffalo and M&T Bank sponsor the project.
• Center Court Phase II will get $350,000 toward the construction of 100 apartment units on the site of the former Center Court projects. It’s sponsored by M&TBank and the Niagara Falls Housing Authority.
• Heritage Christian Services, sponsored by First Niagara Bank, will receive $104,800 toward the rehabilitation of six units at its Whiting Street facility in North Tonawanda. It provides long-term supportive housing for people with developmental disabilities.
“At times like these, collaboration is very important, and we’re glad to have it,” said Ron Little, vice president at Heritage Christian Services.
The Federal Home Loan Bank of New York’s program awards the subsidies to bank members, who pass them on to projects or households through nonprofit organizations. Award applicants are required to have a community-based sponsor as well as a sponsoring financial institution that is a member of the bank.
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