HUD and USDA FUNDS FOR NEW YORK ANNOUNCED AUGUST 14, 1998

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ALBANY COUNTY - $1.6 million (HUD: $700,000, USDA: $947,000)

HUD funding will provide: $300,000 to reconfigure an existing incubator facility to accommodate new tenants. The project will leverage $27,000 in other funds and will result in the creation of 20 new jobs; $400,000 to Village of Green Island for the creation of 12 new housing units and leveraging $240,862.

USDA funding will provide: $947,000 for housing.

CHENANGO COUNTY - $725,000, all from HUD

HUD funding will provide: $325,000 to be loaned by Chenango County to a local business, Norwich Aero Products, to be used to assist in the company's expansion. The project will leverage $960,000 and will create 40 new jobs; $400,000 for the city of Norwich to rehab 36 housing units and leverage $16,750.

COLUMBIA COUNTY - $14.7 million (HUD: $1.2 million, USDA: $13.5 millon)

HUD funding will provide: $400,000 loaned by City of Hudson to the Judson IDA to assist with acquisition and renovation of an existing vacant facility for occupancy for smaller businesses, leveraging $2M in funds and resulting in the creation of 28 new jobs; $400,000 to the City of Hudson for the rehabilitation of 30 housing units; and $400,000 to the Village of Philmont for the rehabilitation off 29 housing units leveraging $40,000.

USDA funding will provide: $9,950,000 to the Columbia Memorial Hospital to enable the facility to construct a four-floor addition housing emergency services, surgical suites as well as a new lobby and elevators to provide easier access; and $1,954,730 to the county for housing; $1,260,700 loan to Village of Valatie to construct new wells and water storage tank; and $338,400 to Town of Germantown to complete construction of Sewer District #1.

DELAWARE COUNTY - $2.2 million, all from HUD

HUD funding will provide: $600,000 will be used by the County to provide sewer improvements for two businesses, Ultra International and DMV Dairies. The project will leverage $19,350,000 in other funds and will result in 60 new jobs. HUD funding of $442,500 will be used by Delaware County to establish a microenterprise assistance program which will create 60 new jobs. The Town of Hamden is the recipient of a $299,000 grant for water system improvements which will benefit 134 households. The Town of Harpersfield will receive $400,000 from HUD to rehabilitate 24 housing units and an additional $24,800 will be available in weatherization funds. Village of Walton to receive $400,000 to help 23 households purchase their first home, an additional $1 million will be leveraged by the Community.

ERIE COUNTY - $1.7 million, all from USDA

USDA funding will provide: $462,470 for housing; $860,000 loan and $364,100 grant to Village of Angola for installation of water lines.

GREENE COUNTY - $2.6 million (HUD: $1 million, USDA: $1.6 million)

HUD funding will provide: $600,000 will be used by Greene County to establish a microenterprise assistance program which will create 90 new jobs. The Town of Cairo's Housing Rehabilitation program will receive $400,000 in HUD funding and $36,750 in additional funds to assist 31 substandard housing units.

USDA funding will provide: $1,571,492 for housing.

HERKIMER COUNTY - $ 7.6 million (HUD: $3.8 million, USDA: $3.8 million)

HUD funding will provide: $400,000 to the The Village of Dolgeville to rehabilitate 32 housing units through a program that includes $315,200 in additional funding; 21 units of substandard housing will be rehabilitated in the Town of Danube with the $400,000 grant from HUD. The Village of Frankfort will be provided $800,000 to expand an industrial park which will create 123 new jobs and will rehabilitate 31 housing units. HUD funding of $525,000 will be provided to Herkimer County to assist Northern Safety Corp., which will be used to assist in the company's relocation to a new consolidated facility. The project will leverage $1,650,000 in other funds and will result in the creation of 152 new jobs.

Also, the Village of Herkimer will receive $459,292 in HUD funding to assist a local business to establish a Canal Service Port with amenities for tourists and boaters on the Canal. The project will leverage $900,500 in other funds and will result in the creation of 41 new jobs. The City of Little Falls has been awarded $400,000 and will leverage an additional $90,000 to rehabilitate 31 housing units. In addition, the Village of Ilion has been awarded two additional multi-year grants in the amount of $500,000 to rehabilitate 45 housing units.

USDA funding will provide: $3,400,000 to Old Forge Kampgrounds for development and upgrading the campgrounds; $384,350 to the county for housing.

MADISON COUNTY - $7.2 million (HUD: $3.7million, USDA: $3.5 million)

HUD funding will provide: $400,000 to the Town of Brookfield to rehabilitate 28 units of housing; and $400,000 to the Village of Canastota to rehabilitate 31 units of housing. HUD funding of $600,000 will leverage $1,535,000 of other funding to create 32 first-time homebuyers in Madison County. HUD funding of $400,000 will be used by the City of Oneida to leverage $75,000 in additional funds to rehabilitate 32 units of housing. Oneida will also receive FY 97 multi year funding of $900,000 for Lenox Avenue Target Area to rehab 20 units of housing and build 10 new duplexes, and provide public improvements. HUD funding of $400,000 will be loaned by Madison County to two local health care providers to establish two adult day care centers. The project will leverage $462,000 in other funds and will result in the creation of 29 new jobs. HUD funding of $200,000 will be used by Madison County to establish a microenterprise assistance program which will create 30 new jobs. HUD funding of $400,000 will be loaned by the Town of Stockbridge to a local business, Ferriss Industries, which will be used to assist in the company's expansion. The project will leverage $1,912,500 in other funds and will result in the creation of 38 new jobs.

USDA funding will provide: $1,300,000 to Ferris Industries to relocate manufacturing facilities to the Town of Stockbridge, adding approximately 30 new jobs to the 70 existing jobs; $342,950 to the county for housing; and $513,500 loan and $1,386,500 grant to Village of Canastota to rehabilitate sanitary sewer interceptors.

MONTGOMERY COUNTY - $2.6 million (HUD: $800,000 USDA: $1.8 million)

HUD funding will provide: $400,000 to the Village of Fonda, which will result in (leveraging) an additional $250,000 of funds to improve the water system in the village benefiting 370 households. HUD funding of $400,000 to the City of Amsterdam will result in 34 housing units being rehabilitated.

USDA funding will provide: $284,325 for housing; and $1.4 million grant and $100,000 loan to Village of Fort Johnson to construct sanitary sewage collection system.

ONEIDA COUNTY - $3.6 million, all from USDA

USDA funding will provide: a $1,732,000 guaranteed loan to I.L.Richer Co. to consolidate operations into one location, to renovate the Sangerfield Mill and purchase new equipment saving 66 jobs; $568,900 loan and $665,300 grant to Town of Deerfield to construct new water distribution piping and storage tank; and $613,390 to the County for housing.

ONONDAGA COUNTY - $1.1 million, all from USDA

USDA funding will provide: $782,890 to the county for housing; a $50,000 grant to the Southern Hill Preservation Corp. to provide a micro-loan fund to at least seven small businesses located in the southern section of Onondaga County creating or saving 27 jobs; and $300,000 loan to Navarino Fire Dept. to construct new addition to fire station.

ORANGE COUNTY - $1.1 million, all from HUD

HUD funding will provide: $400,000 to the Village of Kiryas Joel to provide 45 low- and moderate-income families downpayment and closing cost assistance to purchase homes; $286,735 to the City of Port Jervis to provide business orientation training to five micro-enterprises for business expansion and development, which is expected to create eight jobs and leverage an additional $234,210 in private financing; and, $400,000 to the Village of Highland Falls to provide 50 low- and moderate- income persons with deferred loans to rehabilitate their properties.

OTSEGO COUNTY - $ 600,000, all from HUD

HUD funding will provide: City of Oneonta awarded $350,000 for Fiscal Year 1997 (second year of a multi-year grant) for Downtown Oneonta Investment Program, includes low interest loans to over 30 businesses and $250,000 (second year of multi-year grant) for the First-time Homeownership program to assist 15 families for a total of 30 over a two- year period.

RENSSELAER COUNTY - $5.9 million (HUD: $5 million, USDA: $935,000)

HUD funding will provide: $400,000 to the Village of Hoosick Falls to rehab 24 units; $400,000 (leverage $28,000) to the City of Rensselaer to rehab 39 units of housing; and $370,000 to the City of Rensselaer to rehab 42 units of housing ; for 1997-$1,900,000 county's second year of multi-year grant and 1998-$1,900,000 the third year for continuation of housing, economic development, public improvement and infrastructure project.

USDA funding will provide: $260,000 guaranteed loan to Schodack Storage Center, Inc. to construct 122 self-storage units in Nassau, New York with fencing and security system; and $675,080 for housing.

SARATOGA COUNTY - $2.8 million (HUD: $744,900, USDA: $2 million)

HUD funding will provide: $400,000 to the City of Mechanicville to establish a microenterprise assistance program which will create 60 new jobs; $344,900 to the Town of Edinburg for the third year of a multi-year grant providing 24 grants and interest-free loans for housing rehab benefitting 78 low- and very low income persons.

USDA funding will provide: $2,013,361 for housing.

SCHENECTADY COUNTY - $3.2 million (HUD: $600,000, USDA: $2.6 million)

HUD funding will provide: $600,000 to the County to establish a microenterprise assistance program which will create 80 new jobs.

USDA funding will provide: $406,000 loan and $487,000 grant to Town of Princetown Water District 2A to construct water distribution system; $481,800 loan and $580,200 grant to Town of Princetown Water District 2B to construct water distribution system; $343,800 loan and $277,200 grant to Town of Princetown Water District 2C to construct water transmission lines; and $39,000 to the County for housing.

SCHUYLER COUNTY - $2 million, all from USDA

USDA funding will provide: $1,624,500 loan and $100,000 grant to Village of Odessa to drill a new well and build new water tank; and $304,417 to the County for housing.

SULLIVAN COUNTY - $2.7 million, all from HUD

HUD funding will provide: $600,000 to the County to open and expand agricultural businesses throughout the County, which is expected to create over 400 jobs and retain 30 jobs. The County also is receiving a second grant of $400,000 to assist two firms engaged in wood manufacturing which is expected to create 66 jobs and leverage an additional $9.2 million; $400,000 to the Town of Freemont to form a new water district, which will attract $33,000 in other financing.

The project is expected to benefit 72 Freemont residents; $400,000 to the Village of Liberty for infrastructure improvements and for installing fire hydrants to low- and moderate-income neighborhoods, benefiting 219 persons; $400,000 to the Town of Mamakating to provide 40 low- and moderate-income persons living in Phillipsport with deferred housing rehabilitation loans; $400,000 to the Town of Rockland for infrastructure improvements benefiting 70 households in low- and moderate-income neighborhoods; $90,010 to the Village of Woodridge for infrastructure improvements to its sewer system and sidewalks benefiting 91 persons residing in the Woodridge Housing Authority and a nearby neighborhood.

TOMPKINS COUNTY - $7.1 million (HUD $6 million; USDA $1.1 million)

HUD funding will provide: $400,000 (leverage $20,000) to rehab 19 units in the Town of Dryden; $400,000 to rehab 30 units in Village of Groton; a total of $1,375,000 will be provided to Tompkins County for various activities: a loan to Ithaca Materials Research for new equipment which will leverage $423,000 in other funds and will result in the creation of 11 new jobs; assistance to over 40 first-time low-income homeowners; and assistance for the Axiohm expansion; the City of Ithaca will receive $3,800,000 for activities such as rehabilitation loans, public improvements, direct homeownership assistance, and public services to the Southside Neighborhood Preservation Program and also to the Northside Neighborhood Target Areas to assist a microenterprise program. Funds will also be used for street improvements, a loan program for landlords, and for rehabilitating 12 low-income homes.

USDA funding will provide: $525,000 loan to the Village of Dryden to reconstruct water lines; and $588,020 to Tompkins County for housing.

ULSTER COUNTY - $14.5 million ( HUD: $9 million; USDA: $5.4 million)

HUD funding will provide: $600,000 to help 70 low- and moderate-income persons with closing costs and downpayments to purchase homes in the County, which will attract an additional $4.2 million in private mortgage financing.

HUD also is providing the County with another $600,000 in economic development assistance, which will lead to the creation of 90 new jobs and the leveraging of an additional $3.5 million. $3,800,000 to rehabilitate at least 56 homes in low-income neighborhoods in the City of Kingston and assist three to five micro-enterprises and two to four businesses; $800,000 for sewer and other infrastructure improvements benefiting over a hundred households and four institutional properties in the Town of Marlborough; $399,380 to replace deteriorated sewer lines in the Town of Ulster benefiting 144 homes; $376,920 to rehabilitate 32 deteriorated housing units to house low- and moderate-income persons in the Town of Shandaken.

The Town also is receiving a second grant of $400,000 to make infrastructure improvements to its water system benefiting 292 households in low- and moderate-income neighborhoods that will serve to attract an additional $559,650 from other sources; $400,000 to the Town of Esopus for the MEDREX Company to expand its business operations leading to the creation of 31 new jobs and to leveraging an additional $309,422 in private financing; $233,490 to the Village of New Paltz for Gateway Community Industries to help the firm start a program, employing 11 people, which will leverage an additional $202,311 in private financing; $800,000 to the Village of Ellenville and the Town of Wawarsing to create a single regional water supply system, which will also attract an additional $265,000 from the municipalities issuing bonds.

The project is expected to benefit 2,065 households in low- and moderate-income neighborhoods; and $630,000 to the Towns of Rochester and Wawarsing for the Imperial Shrade Corporation to expand its operations by moving into a new "multi-tool knife" product line, which is expected to create about 55 jobs and leverage an additional $3 million in private financing.

USDA funding will provide: $ 658,830 for housing; $591,000 to the Town of Marlborough to enable the Town to construct sewage collection lines to connect to the Milton sewage treatment plant and $4,180,000 for the Town of Wawarsing to create a water district to provide public water service.

WASHINGTON COUNTY - $ 1.6 million (HUD $575,000; USDA $ 992,000)

HUD funding will provide: $400,000 (leverage $768,000) to 16 first- time homebuyers in the Village of Hudson Falls; and $175,000 for a microenterprise program creating 45 new jobs in Village of Whitehall.

USDA funding will provide: $991,717 for housing.

WARREN COUNTY - $ 1 million (HUD: $800,000; USDA: $ 234,000)

HUD funding will provide: $400,000 and leverage $83,350 to rehab 32 units in the Town of Chester; $400,000 (leverage $103,350) for water system improvements benefitting 301 households in Warren County.

USDA funding will provide: $233,770 for housing.

YATES COUNTY - $ 5.3 million, all from USDA

USDA funding will provide: $815,000 to the Town of Benton Water District #1 for the construction of a water distribution system to serve 100 rural customers along Route 14 South; $3,200,000 to Penn Yan Marine Manufacturing Corporation to refinance existing debt and to construct boats that will be used to provide charter boat service in New York canals, saving approximately 50 jobs and creating another 100; $850,000 loan to Town of Milo to create water district; and $448,340 to the County for housing.