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Albany First-Time Home Ownership Opportunities

From Council Member 6th Ward, Richard Conti

The Albany Community Land Trust recently received an award for acquisition and repair of 10 homes for eligible first-time homebuyers in the City of Albany. The $400,000 award from NYS Homes and Community Renewal is for the Community Land Trust’s Buyer’s Choice Grant Program. Qualified participants in the program will receive assistance to buy and fix up a home affordably in the City of Albany, including:

$30,000 toward repairs and down payment to purchase a house in Albany;
expert advice in choosing a property and assistance in rehabbing it;
access to additional programs such as energy efficiency repairs;
unbiased homebuyer education and financial advising.

The Albany Community Land Trust successfully used a similar award in 2010 to assist 9 families in fixing up properties and becoming new homeowners. Buyers built equity, stabilized their housing costs, created a legacy for their family, and helped the city’s tax base. The Albany Community Land Trust is a community-based non-profit organization committed to rebuilding neighborhood housing stock and creating high quality permanently affordable housing in the city of Albany. The Community Land Trust has renovated 69 properties with 92 units. Currently the Land Trust is also managing 44 units of quality affordable rental and has 4 properties under development. To apply for the program, the first step is to attend a free HomeBuyer 101 course. Held monthly, the next orientation will be held on Tuesday, February 3, 2015. Sign up at www.AHPHome.org or call 434-1730. For more information about the Albany Community Land Trust visit www.albanyclt.com. For more information about this home buying program call Louise McNeilly AT 434-1730, ext. 405.

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