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I notice the entire allotment for NYS is $7m, for the WHOLE state! Pretty laughable to think that will support creating affordable housing on LI with these goals in mind (from the press release):
Real property acquisition
Site improvements and development hard costs
Related soft costs
Demolition
Financing costs
Relocation assistance
Operating cost assistance for rental housing (up to 30% of each grant)
Reasonable administrative and planning costs
Ha ha, $7m won't last 12 seconds around here! The last point alone will probably eat up the $! Me thinks Rochester will be getting some affordable housing!
It will probably be spread out across the state. Even small cities in Upstate have Housing Authorities and the funding may be given accordingly. So, that may be where the sensationalism comes in, as this may be a state issue versus being just a Long Island issue.
The East Hampton Housing Authority has begun planning a cottage-style rental apartment complex in Amagansett to provide affordable housing for the hamlet's workers.
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The complex would consist of 30 to 40 units ranging from studios to three bedrooms that would rent for about $1,000 to $2,200 per month depending on unit size and the tenant's income. She said about 20 percent of the units would be available to Section 8 applicants, making it the first multifamily housing in Amagansett for such tenants.
"There's an overwhelming need for affordable housing in the Town of East Hampton that reaches across broad income levels and age groups," Supervisor Larry Cantwell said in a telephone interview last week. "It [the project] has the potential for occupants from different income levels, so I think it has a lot of value for providing affordable housing in town."
Casey said that officials hope to start the project next year and complete it by early 2019, and that it is intended to primarily benefit middle-income earners.
"It's the middle-income people that are getting squeezed the hardest," she said.
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She said first preference for the housing may be given to school employees, emergency service volunteers, current town residents and possibly veterans.
"Tradespeople and people in the service industry and home health care service industry work hard, and there's no housing stock for those people," Casey said. "There used to be builders who built modest homes, but now the real estate is so expensive they can't make that work."
Casey said funding for the estimated $18 million project would come from the New York State Homes and Community Renewal. She said the land would be purchased from its current owner, Puerto Rico-based Putnam Farm Holdings LLC.
Casey noted that creating affordable housing has become a priority for local officials throughout Suffolk County.
"I'm not sure we will ever meet the need for low-income housing, but we're trying to meet the demand for middle-income housing," she said.
Just putting this out there... having spent a little time in Amagansett (years ago) many of the year round residents are not 'excessively rich' by any means. It's the second homeowners who are from NYC who have the money to live south of the highway who are driving up prices tearing down homes to build large, high end manses. They're slowly making the area grow unaffordable as they scoop up property south of the highway.
Look at what has been happening in Montauk: year round rental residents are having an increasingly difficult time finding homes with a yearly lease. Absentee landlords make a killing in the summer months and rent to tourists during that time.
Montauk is in the Town of East Hampton and next door to Amagansett. It is very likely that people from Montauk may comprise some of the residents at the new complex.
As for Amagansett proper, there is an apartment setting on the beach; some units are short term vacation rentals and the others are purchased. From what I've read, there are no Section 8 units available in that 'resort' apartment complex.
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