50k Rehab Grant - Albany, NY

[Desiny Smith]

Per the Vacant Building Rehabilitation Grant buyers of vacant buildings can be granted up to $50,000 towards rehabilitation in Albany, NY. In exchange, half of the units (assuming it is a multi family) must be affordable housing. Has anyone applied for this grant? If so... 1.) What was the application process like? Were you awarded the full $50,000? 2.) Did you use it in addition to a mortgage, (I.e, FHA 203k, construction loan) private lending, or your own money? 3.) Did the city dictate how you spent the money? 4.) What was your experience like screening tenants?