ELLICOTTVILLE — Cattaraugus Community Action has been awarded $2 million in Affordable Housing Program funding from the Federal Home Loan Bank of New York (FHLBNY).

The funding will enable the preservation and rehabilitation of Ellicottville Terrace Apartments, a USDA Section 515 property that provides affordable housing for low- to moderate-income seniors and individuals with disabilities.

Ellicottville Terrace Apartments is a 40-unit residential development originally built in 1985 under the USDA Rural Development 515 program. CCA acquired the property in January, reinforcing its commitment to maintaining and enhancing affordable housing options in the region.

“This investment reflects a shared commitment to protecting and strengthening affordable housing opportunities for vulnerable members of our community,” said Andrew Studley, CEO of CCA. “We are grateful to FHLBNY and our partners for their support in ensuring Ellicottville Terraces remains a safe, accessible and well-maintained place to live.”

The rehabilitation will focus on essential infrastructure improvements, enhanced accessibility and long-term affordability, which Studley said “reinforces CCA’s mission to support stable housing and quality of life for those we serve.”