$70,000 Habitat for Humanity Grant

(Newburgh) - Congressman Maurice Hinchey (D-NY) announced on Monday, a $70,000 federal grant to Habitat for Humanity of Greater Newburgh that will pay for the construction and renovation of homes for seven low-income, local families. Joining Hinchey for the announcement were officials involved in the securing and administering of the grant including, Al DeSalvo, Capital Region CRA Officer for M&T Bank; Michael Graham, Senior Business Development Officer for M&T Bank; Deirdre Glenn, Executive Director, Habitat for Humanity of Greater Newburgh; Peter King, Affordable Housing Officer, Federal Home Loan Bank of New York; and Newburgh Mayor Nick Valentine; and members of the City of Newburgh Council.

“These funds will allow seven hardworking Newburgh families to finally have a home they can call their won,” Hinchey said. “When people own their own home, they have a much greater stake and interest in their neighborhood and their community. Increasing rates of home ownership helps to reduce crime and urban blight, protect and improve the quality of life in our local area and provide economic stability and opportunity for local families. I’m very grateful that Newburgh has received these funds, which will certainly complement and strengthen our efforts to revitalize the city and stabilize neighborhoods throughout Newburgh.”
The $70,000 grant will be awarded through M&T Bank to help Habitat for Humanity renovate or construct seven units of affordable, owner-occupied housing. Habitat will refurbish four abandoned, boarded-up buildings that it has purchased from the City of Newburgh and sell those to eligible, low income families at a reduced cost.

Eligible families in the Habitat homeowner program have completed 250 hours of work or “sweat equity” and participated in a series of classes on financial management, financial literacy, home mainte- nance, neighborhood responsibilities, safety and the legal aspects of home ownership. To ensure successful home ownership, Habitat for Humanity will also appoint two advocates for each family to provide support as the family makes the transition to home ownership.
Deirdre Glenn, Executive Director for Habitat for Humanity of Greater Newburgh said, “Habitat is a homeowner program. The principles of home ownership, a no-profit selling price and a no-interest mortgage, are at the heart of Habitat’s vision. The importance of strong neighborhoods is essential to our mission. Rebuilding our neighbor- hoods, however, does cost money and the support of programs such as the Federal Home Loan Bank not only reduces the cost of buying a home for the homeowner, but fuel our building efforts by providing financial incentive to keep building.”
“We’re pleased to join M&T Bank to announce this $70,000 affordable housing grant to Habitat for Humanity of Greater Newburgh,” said Alfred DelliBovi, President of the Federal Home Loan Bank of New York. “This grant housing is made possible in large measure because of the support and leadership of Congressman Hinchey.” Pictured Above: Michael Graham Sr. Business Developemtn Officer for M&T Bank: Al DeSalvo, Capital Region CRA Officer for M&T Bank; Peter King, Affordable Housing Officer, Federal Home Loan Bank of New York; Deidre Glenn, Executive Director, Habitat for Humanity of Greater Newburgh; Moss Calhelha, President, Habitat for Humanity of Greater Newburgh; and Congressman Maurice Hinchey.