to promote homeownership by low- and moderate-income households. Using resources appropriated by the State Legislature, AHC awards grants to local governments, nonprofits and charitable organizations to subsidize the cost of newly constructed homes and the cost of renovating existing housing. In 2017, the AHC had operating expenses of $2.65 million and a staff level of 199 people. The compensation for its staff exceeds its listed operating expenses by just under $4 million in the 2018 New York State Authorities Budget Office report. See also Empire State Development Corporation Nyhomes State of New York Mortgage Agency State of New York Municipal Bond Bank Agency References External links nyhomes.org New York State Housing Finance Agency in the New York Codes, Rules and Regulations NYSHCR website Public benefit corporations in New York (state) Housing finance agencies of the United States 1960 establishments in New York (state)