$1.3M OK'd for affordable homes in Suffolk
The board of the New York State Affordable Housing Corporation approved a $1.3 million grant to the Nassau-Suffolk Partnership Housing Development Fund Company, Inc. yesterday to help build 40 new affordable homes in Suffolk County.
The AHC grant to the Partnership Housing Development Fund, an affiliate of the Long Island Housing Partnership, will be used to build 40 attached, single-family homes, in addition to two and three-bedroom homes in the Town of Islip.
The project is aimed at turning vacant land into attractive neighborhoods for low and moderate-income households. The project will be reserved for households with incomes up to $111,573 for a family of four.
The total cost of the project is $13.68 million. In addition to the AHC grant, the program will receive a land subsidy of $1 million from the Islip Community Development Agency, $1.5 million from the Suffolk County Affordable Housing Program, $638,000 in HOME funds from the Town of Islip CDA, $650,000 in state HELP funds, $1 million from the Islip Affordable Housing Program and homeowner mortgages and equity.