| Rensselaer To Make
Rehab Grants Available to Local Residents
Rensselaer’s Neighborhood Renewal
Initiative has acquired $240,000 in federal funding for
quality of life improvements for local homeowners. The money—which
will be parceled out as 30 grants of $8,000 each—will
be used to remedy code violations and structural problems,
improve energy conservation, and address life safety concerns
for low-income owner-occupied properties.
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Thomas
Griffin |
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The Hillside Homeowner Rehab Program, as
it is called, will use Federal Home Loan Bank of New York
System funds to help income-qualified homeowners (i.e. residents
with incomes below 50 percent of median income) fix up buildings
in the neighborhoods directly surrounding Rensselaer. The
homes must be located in the area bounded by Eighth Street
to the west, Hoosick Street to the north, the Poestenkill
to the south, and 15th Street to the east.
Through the Neighborhood Renewal Initiatives,
Rensselaer works with several local organizations to raise
homeowner occupancy rates in Troy. The Institute has committed
$2.3 million in recent years to programs ranging from homeownership
grants to roadway improvements, and expects to contribute
approximately $45,000 more with the Hillside Homeowner Rehab
Program.
“One of President Jackson’s
visions for Rensselaer — through programs like the
Neighborhood Renewal Initiative’s Hillside Homeowner
Rehab Program — is to build ‘communiversity’
partnerships that will boost the quality of life in and
around campus,” said Barbara Nelson, project manager
for campus planning and facilities design at Rensselaer,
who helped obtain the grants. “Through this initiative,
we expect to directly enhance the living conditions for
homeowners and their tenants, and we look forward to seeing
improved appearances along our campus gateways, and increased
community pride.”
Funding for the program will be administered
by HSBC Bank and the Troy Rehabilitation and Improvement
Program (TRIP) NeighborWorks Homeownership Center. TRIP
will also provide credit counseling, identify low-interest
loan funds, or locate other monetary resources for homeowners,
if needed. Troy Architectural Program (TAP) Inc. will manage
the projects and verify that work is properly completed.
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