The City of Glens Falls was awarded $389,000 to replenish funding for a program that helps families and individuals purchase a home by assisting with the cost of down payments and closing fees.
Governor Cuomo recently announced the grant as part of $17M in HOME Program funding awarded across the state. A total of 51 projects developed to create more affordable homes and home ownership opportunities were rewarded.
The Glens Falls program has traditionally worked solely with applicants within the city, however, for the first time, the city has both the permission and the funding to help qualified individuals and families anywhere within Warren County.
The funding will cover 10 applicants within the city and five applicants outside Glens Falls. Applicants must meet credit history guidelines as well as income guidelines, which for a family of four are $52,300.
While the grant funding is expected to be available for distribution around June or July, it is recommended that you call the Community Development Office at 761-3833 for additional information and to be placed on a waiting list to apply.
The Post Star reported that expansion of the first-time home buyer program was initiated through the city’s participation in Adirondack Gateway Council, a regional planning and grant writing coalition in Warren, Washington and northern Saratoga counties.
“….we are bringing government resources directly to localities so they can access the tools and information they need to revitalize their communities,” said Gov. Cuomo in a press release.
Governor Cuomo Announces $17 Million to Create More Than 700 Affordable Homes and Homeownership Opportunities Across the State
The Post Star: Glens Falls to expand first-time home buyer program to all of Warren County