WATERFORD GETS GOLD RING IN MERRY-GO- ROUND OF REHAB GRANTS.(Local)

Byline: Peter Wehrwein Staff writer

When it comes to rehabilitation grants, this village of about 2,400 is on the Wheel of Fortune and winning big.

With the announcement this week of a $200,000 grant under the state Affordable Home Ownership Development Program, the village's total winnings in the grantmanship game since 1984 have reached $2,120,000.

That equals $881.50 for every man, woman and child in the village.

To what does the village owe this good fortune?

"I think the history has helped us," Mayor James Mullahey said, referring to its claim that Waterford is the oldest incorporated village in the country.

But …