Skip to Content

Login   Subscribe   Site Index   Contact Us   Google Translate™

NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

October 6, 2014, Contact: Press Office (518) 474-4015

DiNapoli: Home Ownership Grants Helping Low- and Moderate-Income New Yorkers

The majority of grants awarded to homeowners through the state’s Affordable Home Ownership Development Program are being given only to eligible recipients, according to an audit by New York State Comptroller Thomas P. DiNapoli. The program, overseen by the Affordable Housing Corporation, which is a division of New York State Homes and Community Renewal, provides up to $40,000 in grants to existing and prospective low- and moderate-income homeowners across the state.

“Protecting and expanding homeownership for New York’s families is critical to local communities and to the state’s overall economy,” DiNapoli said. “While there is some room for improvement, the Affordable Home Ownership Development Program is working well to help ease the shortage of affordable housing.”

The program, designed to promote home ownership and stimulate development, provides grants to cover the cost of home construction, improvement, or purchase. In recent years, the state Legislature has appropriated $25 million annually for the program.

DiNapoli’s auditors examined 69 grants awarded by the program from February 2012 to October 2013 to determine if they were given to recipients who met income and liquid asset eligibility requirements. Of the grants examined, auditors found only two ineligible grants and one questionable grant.

DiNapoli recommended:

  • Providing training to grant managers on assessing applicant eligibility, particularly related to liquid asset and annual income limits;
  • Continuing to periodically review grant managers’ award files to verify applicants’ compliance with Program eligibility requirements;
  • Taking actions, as warranted, with grant managers who do not ensure full compliance with prescribed Program requirements; and
  • Clarifying requirements for determinations of applicants’ annual incomes, including reasonable estimates of variable income, such as bonuses.

New York State Homes and Community Renewal agreed with the audit findings. Their responses to DiNapoli’s recommendations are included in the audit. For a copy of the audit, visit: http://www.osc.state.ny.us/audits/allaudits/093014/13s31.pdf

Other recent DiNapoli reports on housing include:

Albany Phone: (518) 474-4015 Fax: (518) 473-8940
NYC Phone: (212) 383-1388 Fax: (212) 681-7677
Internet: www.osc.state.ny.us
E-Mail: press@osc.state.ny.us
Follow us on Twitter: @NYSComptroller
Like us on Facebook: www.facebook.com/nyscomptroller