Last updated May 11, 2021
This FAQ covers the open application to purchase 64 Van Buren, 248 Main Street, and 174 Hasbrouck.
What is the process for purchasing these homes? What is the timeline?
Please complete KCLB Home Purchase Program Interest Form here. Should the preliminary information you provided meet the Program’s requirements, a Homeownership Specialist from our Program Partners (RUPCO and Hudson River Housing) will contact you to continue the qualification process within five business days.
Interest Forms must be submitted by July 10, 2021.
How were the home prices set?
We are selling these homes for less than half of what it costs us to build them. The proceeds from the sales of these homes will help us to fund the work we plan to undertake for our future plans to serve even more families. By responsibly underwriting our sales prices to make these 3 homes affordable to purchasers earning at or below 60% AMI* (64 Van Buren Street), 70% AMI (248 Main Street) and 80% AMI (174 Hasbrouck Avenue), we feel we are setting families up for success for generations to come.
*AMI = 2021 Area Median Income as published by HUD for Ulster County, NY.
What do the current renovations being done include? How can I find out more about each of these properties?
The renovation work includes the complete renovation of all 3 homes, including new kitchens and bathrooms. Best efforts will be also taken to restore the historic elements of the buildings, including exterior and interior details. To see floor plans, mood boards, and a complete list of renovations completed, please see below for each property.
248 Main St [LINK]
174 Hasbrouck [LINK]
64 Van Buren [LINK]
What are the household or income eligibility requirements?
|Home Address||Bedrooms||Bathrooms||Required Household Size Range||Required Gross Household Annual Income (before taxes and deductions) Limit||Subsidized Purchase Price|
|64 Van Buren Street, Kingston, NY, 12401||3||1||3-6 persons||6-person household: $61,140|
5-person household: $56,940
4-person household: $52,680
3-person household: $47,460
|248 Main Street, Kingston, NY, 12401||3||1||3-6 persons||6-person household: $71,330|
5-person household: $66,430
4-person household: $61, 460
3-person household: $55,370
|174 Hasbrouck Avenue, Kingston, NY, 12401||2||1.5||2-4 persons||4-person household: $70,250|
3-person household: $63,250
2-person household: $56,200
What is the deadline to apply?
July 10, 2021.
If I’m selected, when can I move in?
If selected, you will then work with our Program Partners to obtain a mortgage to purchase your home. Additional grants, loans and matching savings programs may be available to help you reach this goal. Homes will only be sold after construction is complete and the homes are ready for occupancy, but you must apply now to be considered to purchase them. We expect successful applicants to move in before the end of 2021.
What is the definition of household?
Generally, the KCLB’s definition of “household” follows the Federal Government’s definition: the family and live-in aide, if applicable. Our Program Partners are ready, willing and able to provide you with detailed answers to this question and any other qualification questions you may have.
I don’t think I meet the requirements, should I apply anyway?
We encourage all interested parties to apply. The KCLB will be continuing to sell homes in the future, and if you do not qualify to purchase these homes you may qualify for future sales.
Are you determining income limits?
The KCLB uses household-size-adjusted income levels set by The U.S. Department of Housing and Urban Development (HUD). These income levels are updated annually by HUD.
- 64 Van Buren Street – sold to households at or below 60% AMI, adjusted for household size
- 248 Main Street – sold to households at or below 70% AMI, adjusted for household size
- 174 Hasbrouck Avenue – sold to households at or below 80% AMI, adjusted for household size
Please note: If your household-size-adjusted gross income before taxes and deductions falls well below these limits, we still invite you to apply as you may be eligible for grants, loans or other programs that would allow you to purchase the home.
How is the KCLB’s work funded?
We are funded through the support of generous donors, grant providers and from the proceeds of home sales. We are an independent 501c3 non-profit organization, seperate from the City of Kingston and receive no public funding.
What is the purpose that the KCLB serves in the City of Kingston?
At this time, the KCLB is focused solely on returning properties to the tax rolls by producing quality, affordable homeownership. Within the spectrum of services in the affordable housing industry, lower-income households may qualify for many affordable rental programs. The goal of our work at the KCLB includes meeting the unmet needs of our community by targeting the lowest income levels that are not served by pre-existing rental housing programs run by other organizations in the area.