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CITY PLANS HOME SHOW FOR SUBSIDIZED HOUSING

The Department of Inspections and Community Revitalization will sponsor a "Home Show" to promote city, state and federal subsidized new housing programs at the Buffalo Convention Center on Saturday and Sunday, June 4 and 5 from 10 to 4 each day.

The event -- the first of its kind for the City of Buffalo -- is in conjunction with Buffalo's "Master Plan" for new construction developments in all neighborhoods this year, stated Mayor James D. Griffin.

The purpose of the weekend show is to have the builders, their real estate representatives, staff members from the Department of Inspections and Community Revitalization and the Department of Community Development present information to the public regarding the new home construction projects.

"The builders have been very receptive to the promotion and see this as an opportunity to reach out to those individuals who might be interested in investing in our neighborhoods," the mayor said.

He pointed out that, like many other American cities, Buffalo is undergoing a renaissance, but with a difference. There is an intensive property renovation and conversion under way as well as new single-family construction.

"To improve the housing stock of our city by rehabilitation and to provide new homes to those individuals who may not be able to purchase their own home through conventional means, the quality of life will be maintained in Buffalo," Griffin said.

The new housing construction master plan provides opportunities for families at all income levels to purchase new homes in residential neighborhoods throughout the city.

Although a few new in-town subdivisions have been created, generally the new single-family homes have been constructed as in-fill housing in existing residential neighborhoods.

A variety of home styles are available ranging from compact, efficient one-bedroom units, which are ideal retirement cottages or starter homes, to luxury townhouses and condominiums located in the City's Waterfront Village.

A few two-family residences will also be built, which will permit low and moderate income families to use rental income to assist in financing the purchase price of new homes.

Buffalo has combined land grants to builders and developers with a variety of federal and state price reduction subsidies to insure that families desiring to live and work in the city have decent and affordable housing available to meet their needs.

By substantially reducing the price that home builders pay for city land, the city enables contractors to construct and sell quality housing at a price which is greatly reduced from the selling price of a comparable suburban home.

Credit worthy low and moderate income families are often eligible to receive federal and/or New York state subsidy grants, which further reduce the costs of purchasing the new, quality home.

Low to moderate income individuals and families may be eligible to receive a $15,000 to $20,000 subsidy from New York state, which reduces the price paid for new homes constructed in selected neighborhoods.

Low income individuals and families may be eligible for an additional grant of $5,000 in order to assist in defraying closing costs and down payment requirements incurred in purchasing a newly constructed home (C.D.B.G. grant).

Single-family homes will also be constructed throughout Buffalo's neighborhoods for which eligible low income families and individuals will be provided buyer subsidies from the New York State Housing Trust Fund.

Participating builders in Buffalo's new housing construction program are: M.J. Peterson; Rebecca Park; DeAngelis & Ucci; Paul Development, Co.; Atkin Construction Corp.; M.J. Ogiony builders; Niagara Frontier Builders Association; Niagara Frontier Builders Officials; Home Development Systems of WNY, Inc. and Shareef Enterprises, Inc.; Gal Van Developers; Mary Antoinette Enterprises, Inc.; Belmont Shelter Corp.; Charles Toughey, Inc.; Burke Builders; Housing Assistance Center; and Greater Buffalo Board of Realtors.

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