The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit,which reported that total household debt increased by $114 billion (0.9%) to $12.84 trillion in the second quarter of 2017. There were modest increases in mortgage, auto and credit card debt (increasing by 0.7%, 2% and 2.6% respectively), no change to student loan debt and a modest decline in balances on home equity lines of credit (decreasing by 0.9%).
Governor Cuomo Announces $7.6 Million Community Restoration Fund Program to Help Prevent Foreclosure and...
Governor Andrew M. Cuomo today announced that the state's new $7.6 million Community Restoration Fund has purchased the mortgages for 398 homes in a strategic effort to bring owners in targeted communities out of foreclosure and keep the homes from abandonment through renovation and resale where necessary. This approach is part of the Governor's overall strategy to support homeowners, stabilize neighborhoods and prevent Zombie properties across New York State
New York City Department of Housing Preservation and Development (HPD) Commissioner Maria Torres-Springer announces an update on the progress made to improve conditions at the buildings included on the tenth annual Alternative Enforcement Program (AEP) list. Since the 2017 AEP list was released in February, 138 buildings have improved conditions and met the criteria for discharge from the program. The AEP list identifies 250 distressed multifamily residential buildings with HPD violations and allows for enhanced enforcement, which includes roof to cellar inspections, fees, and an AEP Order to Correct the underlying conditions of the HPD violations. These enhanced enforcement tools are used to improve living conditions for each building’s residents
Financial Services Superintendent Maria T. Vullo today announced that Mortgage Research Center, LLC, doing business as VAMortgage Center and/or Veterans United Home Loans, will pay approximately $604,000 in restitution to New York consumers, primarily veterans, as part of a consent order entered into with the Department of Financial Services (DFS).
Officials from the New York City Housing Development Corporation (HDC), New York City Department of Housing Preservation & Development (HPD), and the US Department of Housing and Urban Development (HUD) joined The Arker Companies and project partners to celebrate the rehabilitation and preservation of Elbee Gardens, a 178-unit affordable housing development located at 1950 Clove Road in the Grasmere neighborhood of Staten Island.
SCHUMER, GILLIBRAND ANNOUNCE $2.2 MILLION IN NORTHERN BORDER REGIONAL COMMISSION FUNDING FOR UPSTATE NEW...
U.S. Senate Minority Leader Charles E. Schumer and U.S. Senator Kristen Gillibrand today announced $2.2 million in federal funding for six projects aimed at improving the economy in Upstate New York. The funding was allocated through the Northern Border Regional Commission’s (NBRC) Economic & Infrastructure Development Investment Program to support infrastructure projects and other initiatives that create jobs, support entrepreneurs, and strengthen the economy in St. Lawrence, Jefferson, Clinton, Oswego, and Madison counties.
Congresswoman Elise Stefanik (R-NY-21) announced a series of Northern Border Regional Commission (NBRC) grants totaling $1.75 million for infrastructure projects around New York’s 21st Congressional District.
CITY OFFICIALS JOIN RADSON DEVELOPMENT AND PARTNERS TO CELEBRATE COMPLETION OF CONSTRUCTION OF 54-UNITS...
Representatives from the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) joined Radson Development, Citi Community Capital, and project partners today for a ribbon-cutting ceremony to mark the completion of Strivers Plaza, a new affordable housing development located at 275 West 140th Street in the Central Harlem neighborhood of Manhattan.
Congressman Eliot Engel and the Coalition for the Homeless are again teaming-up to help New York City's homeless children get ready for school with "Project: Back to School," a drive to collect school supplies for the thousands of school age children living in the city's homeless shelters.
NYCEDC Announces Plan to Bring First of its Kind Industrial-Commercial-Residential Project to Long Island...
New York City Economic Development Corporation (NYCEDC) today announced a plan to transform two City-owned sites on the Long Island City waterfront into a groundbreaking mixed-use project that combines industrial and commercial office with residential space in order to support 21 st century jobs and innovation. Development of the 1.5 million square foot project is expected to create approximately 1,500 permanent and more than 2,500 construction jobs
>Representatives from the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) joined Omni New York LLC and project partners to celebrate the start of construction on the Morris II affordable housing development located at 2956 Park Avenue in the Melrose neighborhood of the Bronx
New York City Economic Development Corporation (NYCEDC) today announced the sale of 420 Albee Square to JEMB Realty Corporation (JEMB). The development at 420 Albee Square, which was recently unveiled by JEMB as One Willoughby Square (One Willoughby), will bring over 380,000 square feet of commercial space, including ground floor retail, and over 300 school seats to Downtown Brooklyn.
The New York State Office of Temporary and Disability Assistance today announced the opening of a $3.2 million housing development for homeless youth in Yonkers. The Bruce Avenue Youth (BAY) House, operated by Westhab, Inc., provides four units and 16 beds of transitional housing for young adults, ages 18-24.
Congressman Brian Higgins (NY-26) announced that Northrop Grumman Amherst Systems has been awarded a $10,367,772 contract with the United States Air Force through the Department of Defense for the production of additional Joint Threat Emitter systems
Governor Andrew M. Cuomo today announced that construction is underway on a $67 million supportive and affordable housing project in the Bronx. The building being constructed, part of a larger mixed-use development known as La Central, will create 160 units of housing, including 97 supportive units for formerly homeless New Yorkers with special needs.
The New York State housing market set a record high for second quarter home sales, reaching 32,444 homes sold, according to the housing market report released today by the New York State Association of REALTORS®. The second quarter statewide median sales price of $245,000 represents an increase of 6.5 percent from the 2016 second quarter
Congressman Chris Collins (NY-27) announced new federal funding from the Department of Transportation for the Perry-Warsaw Airport. Administered through the Federal Aviation Administration (FAA), this $45,000 grant will fund the construction of a new snow removal equipment building to extend the life of the equipment by protecting it from adverse weather conditions.
SCHUMER, GILLIBRAND ANNOUNCE OVER $3.7 MILLION IN FEDERAL FUNDING FOR PLATTSBURGH INTERNATIONAL AIRPORT
U.S. Senate Minority Leader Charles E. Schumer and U.S Senator Kirsten Gillibrand today announced two grants totaling $ 3,786,030 for Plattsburgh International Airport. The funding was allocated through the U.S. Department of Transportation’s (DOT) Federal Aviation Administration (FAA). Specifically, both grants, the first being $3,427,830 and the second $ 358,200.00, will be used to rehabilitate runways.
Representative Sean Patrick Maloney (NY-18) announced he is taking legislative action to ensure the Department of Defense pays for the remediation of PFOS and PFOA contamination at Stewart Air National Guard Base. Rep. Maloney is introducing an amendment to the Department of Defense Appropriations Act of 2018, which would require $35 million to be used specifically for mitigation actions at National Guard installations where site inspections revealed PFC contamination. Rep. Maloney also supported the inclusion of language in the bill to provide an additional $15 million to Department of Defense for carbon filtration of PFCs at contaminated sites like Stewart.
Congressman Lee Zeldin (R, NY-1) announced today that the Department of Transportation (DOT) will make an additional approximately $1.5 billion available to help rebuild America’s crumbling infrastructure through grant funding. Improving upon the existing FASTLANE program, INFRA allows local governments to apply directly for federal assistance to advance highway improvement measures and other infrastructure projects.
Rebuild of Major North-South Power Transmission Artery Will Modernize System; Help New York State Meet Governor's Clean Energy Standard of 50 Percent Renewable Electricity By 2030
The New York State Department of Environmental Conservation (DEC) announced today that the cleanup of properties in neighborhoods near the former Geneva Foundry Site in the city of Geneva, Ontario County, is scheduled to begin in July.
Governor Andrew M. Cuomo today announced nearly $400,000 through nine Local Government Citizens Reorganization Empowerment Grants to assist upstate New York municipalities with government reorganizations. Six towns and three villages received grants to implement shared services initiatives and to explore dissolutions and consolidations in order to reduce local taxes and streamline government operations.
Representative Sean Patrick Maloney (NY-18) joined local leaders in front of one of the many abandoned properties in the City of Newburgh to announce legislation to help homeless veterans and renovate "zombie" or abandoned properties. The Housing Our Heroes Act would create a pilot program within the Department of Veterans Affairs (VA), which would provide federal investments to Veterans Service Organizations (VSOs) to acquire and update blighted properties to provide housing for homeless veterans
The Office of General Services Commissioner today announced that the following thirteen businesses have recently been certified by the Office of General Services’ (OGS) Division of Service-Disabled Veterans’ Business Development (DSDVBD): Anchor Freight Inc., located in Pine Bush, NY, provides general construction, paving, roofing, framing, and masonry.