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Rochester to Receive Funding to Expand Affordable Housing for Residents

Staff report

Joe Morelle
(U.S. Congress 25th Dist.)

Congressman Joe Morelle announced on Tue., Jan. 18, 2022 that more than $3.2 million in grant funding from the Federal Home Loan Bank

of New York (FHLBNY) has been made available to expand affordable housing initiatives in the Rochester community.

Morelle’s office says the money will provide both direct investment in existing housing initiatives as well as provide conduits for further community development in the areas surrounding these initiatives.

“Everyone deserves a safe and stable place to call home, but the challenge of finding affordable housing especially during this pandemic has held too many people back,” Morelle said. “That’s why I am so proud to announce these grants as a way of aiding the expansion of affordable housing opportunities right here in our community,” he added. “I am grateful to the Federal Home Loan Bank of New York for their commitment to supporting housing opportunities for New Yorkers, and I look forward to our continued partnership.”

The FHLBNY grant awardees are receiving funds in 2022 after applying in 2021.

Specific programs in the Rochester area receiving grant funding as a part of FHLBNYs 2021 awardees are as follows:

–Finger Lakes Region Home Rehabilitation Program: $600,000 for 25 units; sponsored by Rural Housing Opportunities Corp. through FHLBNY member ESL Federal Credit Union.

–Flower City Habitat Critical Home Repairs 2021: $100,000 for 5 units; sponsored by Habitat for Humanity of Flower City through FHLBNY member ESL Federal Credit Union.

–L2P Westside: $600,000 for 41 units; sponsored by the Urban League of Rochester through FHLBNY member Five Star Bank.

–Flower City Habitat Homes 2021: $120,000 for 4 units; sponsored by Habitat for Humanity of Flower City through FHLBNY member Five Star Bank.

–St. Bernard ‘s Park: $1,000,000 for 160 units; sponsored by St. Bernard ‘s Housing Development Fund Co., Inc. through FHLBNY member M&T Bank.

–Zion Hill Senior Apartments: $630,814 for 45 units; sponsored by Rochester Management, Inc. through FHLBNY member M&T Bank.

–The Miller Building: $228,552 for 24 units; sponsored by Open Door Mission through FHLBNY member M&T Bank.

José González, FHLBNY
President and Chief Exec. Ofcr.
Photo courtesy of FHLBNY

“Awarding our annual Affordable Housing Program grants is one of the most important things we do, and something that our entire team looks forward to each year,” said Federal Home Loan Bank of New York President and Chief Executive Officer José González.

“The Affordable Housing Program is central to our housing mission and provides us with the opportunity to join with our members and housing partners to make a direct and immediate impact in the communities we serve,” González said. The past two years have been difficult for so many within these communities, and we have seen just how prevalent housing instability is across our nation,” stated González, who also said, “the grants we announce today will help make a challenging period a little less so for those who need it most.” 

Information provided by Morelle’s office says FHLBNY has supported 1,974 projects with over $860 million in grants as a way of creating or preserving nearly 97,000 units of affordable housing since its inception.

Registered service mark of FHLBNY

FHLBNY provides direct grants to their members, which are then passed on to income-qualified households through a local, community-based sponsor organization. Each awardee must be sponsored by a FHLBNY member and a community-based organization, and grants are awarded through a competitive application process. These grant funds are then used by the awardees to create housing for moderate-,low-, and very low-income households in their respective communities.