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The city announced in March of 2011 the launch of the Binghamton Homeownership Academy, the latest development of a three-year long collaboration involving local housing agencies and advocates.

Using a small annual grant from the City, the Academy will serve as a one-stop shop to better connect first-time and existing Binghamton homeowners with millions of dollars in local, state and federal resources for acquisition and rehabilitation costs.

“We’ve coordinated and cultivated a strong collaboration of housing agencies and developers over the last few years in implementing nearly $6 million in award-winning Restore NY grants,” said Mayor Matt Ryan. “The Binghamton Homeownership Academy is the latest positive outcome of this effort, in which existing city homeowners and those looking to become a new Binghamton homeowner will have a single point of entry to access a range of different housing grants and services. This innovative consolidation of services will greatly help Binghamton families to secure healthy, affordable, energy-efficient homes, and in the end, strengthen our neighborhoods, promote our local economy and improve the quality of life for all residents.”

Rather than calling around to the six, local affordable housing agencies to find out about housing grants and services, city residents will now be able to make one call to Metro Interfaith, the Binghamton Homeownership Academy Coordinator, to tap all possible resources. Based on household income, household size and location of the home, Metro Interfaith will quickly be able to match interested, eligible homeowners and residents with available housing grants and services offered by any of the local and regional agencies, including the City of Binghamton, First Ward Action Council, Opportunities for Broome, Community Potential Inc., Habitat for Humanity, Quaranta Housing Services, Home HeadQuarters and Metro Interfaith itself.

“This is a tremendous opportunity to assist the city’s existing homeowners, promote new homeownership and inject state and federal dollars into our local economy,” said Tarik Abdelazim, Director of Planning, Housing and Community Development. “Right now, the Binghamton Homeownership Academy has more than $2 million in grants to invest in Binghamton homes and homeowners, and the one-stop shop is a convenient, cost-effective way for new and current homeowners to access this significant pool of resources. Metro Interfaith brings a stellar reputation and decades of expertise to the role of Academy Coordinator, and we’re all very excited to expand our collaboration in such a meaningful way for city residents.”

Current grants listed by the Academy range from $11,000 to $50,000 for eligible rehabilitation costs, and most are forgivable after five years. For those interested in first-time homeownership, the Academy can connect them with a matching savings programs; free counseling; certified, safe lenders; and additional grants to help with repairs upon moving-in.

Many middle class families may qualify for certain grants, so Mayor Ryan encourages all interested homeowners or first-time homeowners to contact the Academy for more details.

The Academy is located at 21 New Street in Binghamton, and the phone number is 723-0723.