Updated 04/06/2009 08:10 PM
Governor Announces Funding For Affordable Housing In Harlem
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Governor David Paterson today announced plans for 8,000 new affordable housing units across the state.
The projects will be funded by $253 million from the American Recovery and Reinvestment Act, making New York the first state to utilize economic recovery funds for affordable housing.
The projects will include the preservation of existing affordable housing and new construction.
Paterson announced the plans at the future site of the Erbograph Apartments in Harlem, which will be an eight-story building providing 64 affordable units for low-income elderly New Yorkers.
"It will be the first of a number of projects that we will have all around this state, proportionately to every region," the governor said, "to make sure we still have affordable housing at the time of the worst housing crisis we have seen in many years, where people are struggling to maintain there homes, people struggling to pay rent."
The funds, part of the Tax Credit Assistance Program, will help state housing agencies kick-start stalled projects that rely on low-income housing tax credits.