Agencies OK funds for affordable housing

Gov. Eliot Spitzer last week announced that more than 800 affordable housing units would be built or renovated across the state through the financing of $43.9 million from two state housing agencies.

The financing was approved by the boards of the Housing Finance Agency (HFA) and the Affordable Housing Corp. (AHC). The two agencies have approved financing for 6,061 units of affordable housing since Jan. 1, 2007.

“Access to affordable housing is a critical component in sustaining the economic security of our state”™s working families,” Spitzer said. “Through the remarkable accomplishments of our state housing agencies, more people can afford to live and work here ”“ boosting our economy and creating stable neighborhoods throughout the state.”

In Ulster County, AHC approved a $600,000 grant to the Rural Ulster Preservation Company Inc. to build 15 condominiums in the village of Ellenville.