WASHINGTON – RUPCO and Hudson River Housing have been awarded a total of $526,500 in NeighborWorks America grants.
The nonprofit organization brings residents, private-sector business leaders, and representatives of local government together to support affordable housing initiatives, neighborhood revitalization projects, small business lending and more.
RUPCO, Inc., headquartered in Kingston, will receive $356,500 while Hudson River Housing, Inc., based in Poughkeepsie, will receive $170,000.
NeighborWorks America was established by Congress in 1978 as the Neighborhood Reinvestment Corporation and now includes a network of over 250 organizations. It invests in real estate development of multi-family rentals, single-family rentals, for-sale housing, pre- and post-development activities, and provides pending to support residential mortgages, down-payment assistance, and commercial small business lending.
The grants were announced by Senators Charles Schumer and Kirsten Gillibrand.
