Mitchell-Lama Program
The Mitchell-Lama Program , which includes many senior developments in all parts of the state , received $ 75 million . Additionally , of the $ 155 million provided from the Mortgage Insurance Fund ( MIF ) for various housing programs , $ 39.5 million has been allocated for Mitchell-Lama project rehabilitation .
MRT Supportive Housing
As part of the five-year capital investment , the MRT Supportive Housing Program is funded at $ 950 million . Supportive housing for homeless individuals and other special needs populations is an important priority for this administration .
Neighborhood and Rural Preservation Programs
The Neighborhood and Rural Preservation Programs , which provide operating grants to non-profit housing companies in nearly every corner of the state to support their work in housing and community revitalization , were funded at approximately $ 8.5 million and $ 3.5 million , respectively , from excess MIF reserves .
Funding for Other Housing Programs The following programs were funded in the final budget :
• Affordable Housing Corporation : The Affordable Housing Corporation , which provides grants to governmental , not-for-profit , and charitable organizations to help subsidize the cost of newly constructed houses and the renovation of existing housing , was funded at its traditional level of $ 26 million .
• Housing Opportunities Program for the Elderly : Formerly known as RESTORE , this program provides home improvement grants for low-income , elderly homeowners . It was funded at its traditional level of $ 1.4 million .
• Other Capital Programs : The Homes for Working Families Program was funded at $ 16 million . The Low-Income Housing Trust Fund was funded at $ 65.2 million , of which $ 21 million is from the MIF , representing a net increase of $ 10 million from SFY 2016-17 . The Public Housing Modernization Program was level-funded at $ 6.4 million .
For more information , contact Ami Schnauber at aschnauber @ leadingageny . org or 518-867-8854 .
LeadingAge New York / April 2017 Page 21