The New York State Affordable Housing Corp. will funnel more than $2 million in funding for two Long Island housing nonprofits as part of $18.4 million doled out statewide for foreclosure prevention and affordable homes.
In its July 15 announcement, the agency said the Community Development Corp. of Long Island will get $1 million to renovate 167 properties as affordable homes and also another $550,000 to build 16 condos in the hamlet of Tuckahoe in Southampton Town.
The Long Island Housing Services will get $600,283 for its subprime foreclosure prevention program, which offers education, counseling and legal services for subprime borrowers.
"These projects will create workforce housing on Long Island, preserve senior housing upstate, help businesses succeed and create jobs, and assist people at risk of foreclosure," said Brian Lawlor, commissioner of the state Division of Housing and Community Renewal. "Affordable housing and economic development go hand-in-hand. By investing in communities and increasing access to quality housing that senior citizens, families, and young people can afford, New York's housing agencies are working to strengthen neighborhoods, families, and businesses across the state."