New York State Homes and Community Renewal today announced $22.2 Million to create affordable rental apartments across New York state. Locally Cherry Valley will receive $1.4 million to build 10 apartments in the Cherry Valley Central School building and Chenango County was awarded just under $517,000 to create five low-income apartments. Funds were awarded under the Small Rental Development Initiative, which supports the creation and preservation of single family housing with one to four units, and small rental developments of fewer than 25 apartments.