Six Million Available for Senior and Affordable Housing in Binghamton
Binghamton is offering $6 million to agencies that develop local senior and affordable housing projects.
City officials say Binghamton is partnering with community housing development organizations to identify needs and prioritize the American Rescue Plan Act funding.
Binghamton Mayor Richard David says the funding supports new housing opportunities in the City but also leverages state and federal dollars to attract more investment in the local housing stock.
The money can be used for capital construction or pre-development costs with the goal of attracting other grants to fund new projects. The money cannot be used for operational costs or salaries.
The group: Greater Opportunities is receiving $258,000 for the North Side Rehabilitation Project that will develop four vacant properties into 27 units of permanent supportive housing for individuals and families facing homelessness.
The First Ward Action Council is being allocated $355,000 for the North of Main Revitalization II project creating 23 affordable housing units in the neighborhood, rehabilitating six dilapidated properties and building a four-unit apartment house on a vacant lot.
Remaining funds will support other existing programs for first-time homebuyers, repairs to the homes of seniors and Broome County Land Bank rehabilitation programs.
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