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Senator Bruno met with Ann Ellery, Board President of TRIP, at an event in October 2004. |
Friday, February 4, 2005
Senate Majority Leader Joseph L. Bruno announced that he has obtained $30,000 in the 2004-2005 State budget to support the operations of the Troy Rehabilitation and Improvement Program�s (TRIP) NeighborWorks Home Ownership Center. The funds will enable the center to continue helping low income families purchase their first home in Rensselaer County by offering financial aid, counseling, and home ownership training.
"We are delighted to have Senator Bruno on board with us once again," said Patrick Madden, TRIP Executive Director. "The TRIP NeighborWorks Home Ownership Center was created just four years ago and has been a tremendous success in giving low income families the opportunity to own a home and receive quality counseling in areas ranging from finance to home maintenance. The funds will help us to continue our efforts in enhancing the lives of Rensselaer County residents."
"I am delighted to aid in the development of this vision and I am thrilled to help TRIP continue to generate many successes," said Senator Bruno. "Families with a low income have a great opportunity to enhance their lives and enjoy the pride of home ownership. The program creates jobs, educates first time buyers, and helps to make home ownership a reality. The outcome makes a remarkable difference in the lives of new homeowners and the program is a double bonus for our region as it invests funds back into area businesses."
During the 2004 fiscal year, the TRIP NeighborWorks Home Ownership Center empowered 62 families with an average income of $34,409 to purchase a home. The success of the center not only improves the lives of families in the community by offering them a space of their own, but also greatly benefits area businesses.
Through the home purchases, over six million dollars has been invested in the community through private mortgage financing, real estate commissions, and other related expenditures. The center also provides additional community services including job training, youth employment projects, leadership training, down-payment assistance, and housing for the homeless.
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