Land Bank / Outdoor Games / CV Facility Corp news

1) We met with the Mohawk Valley Land Bank inspector last Friday and looked at 6 houses in need of repair or clean up. As soon as our Attorney can acquire a foreclosure deed from the county, cleanup will start the next day. Two homes will be chosen for demolition or clean up and two for renovation. With more in the future to be fixed up.

2) Congratulations to the Cherry Valley Outdoor Games for having a second successful year! It brings back memories of the old Cherry Valley Days!

3) Congratulations to the Cherry Valley Community Facility Corp for acquiring their grant for senior housing! (See the below press release)


PRESS RELEASE

For release:                               Contact: Richard Saba, Executive Director
June 26, 2018                             Cherry Valley Community Facilities Corp.
                                                                                    (607) 437-2129 
Additional Contact: Timothy Peters, Executive Director
Otsego Rural Housing Assistance, Inc.
(607) 286-7244                 

Cherry Valley Community Facilities Corporation Awarded $1.4 Million to Create Senior Rental Housing

Cherry  Valley, NY -
The Cherry Valley Community Facilities Corporation (CVCFC) has been awarded a $1.4 million grant from New York State Homes & Community Renewal (NYSHCR) to convert a wing of the former Cherry Valley Central  School building at 2 Genesee Street  into 10 affordable senior rental units.  
The project was developed in collaboration with another local not-for-profit, Otsego Rural Housing Assistance, Inc. (ORHA), for the purpose of expanding affordable rental housing in the Cherry Valley area. 
The Cherry Valley Community Facilities Corporation was formed in 1994 to rehabilitate the abandoned and deteriorating former Cherry Valley school facility.  The mission of the Corporation has been to transform the Old School into a facility that serves the needs of the entire community.  It currently houses the Cherry Valley post office, Village and Town  offices, as well as arts education,  senior meal services, and related community programs.
The initiative began last year when ORHA was awarded a $19,000 grant from NY Main Streets to fund a feasibility study, which was followed by a joint application to the state’s new Small Rental Development Initiative (SRDI).  The feasibility study was conducted by James Jordan Associates of Richfield Springs.
The project seeks to convert the existing elementary classroom wing of the building  into 10 affordable the efficiency and one-bedroom rental units for seniors aged 65 and above.  CVCFC Executive Director Richard Saba explains: “This affordable rental housing project complements the work CVCFC has been doing for 20 years, allowing prospective residential tenants to take advantage of our programs and services while continuing to live in heart of the village. Residents will have immediate access to the support services and community outreach programs already located in the building.”  Under the terms of the grant, the project must be completed and fully leased within 3 years.

Otsego Rural Housing Assistance, Inc. is a registered 501(c(3) not for profit organization that has been supporting the housing needs of low income, elderly, and disabled residents of Otsego County since 1984.  It will serve as lead administrator of the grant, under a memorandum of understanding between the two organizations signed earlier this year.

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