Funding from Nassau County’s Neighborhood Stabilization Grant Helps Build Homes and Revitalize Neighborhoods
December 13, 2010 – (RealEstateRama) — Nassau County Executive Edward P. Mangano today announced the construction of a new home in the Village of Hempstead’s Parkside Gardens as part of an effort between the County, the Long Island Housing Partnership, the Village of Hempstead, and the Hempstead Village Community Development Agency (IDA).
Nassau County contributed $107,784 for the Long Island Housing Partnership’s acquisition of the home, which had been destroyed in a fire. Located at 32 Maple Avenue, the home will be constructed by the Nassau-Suffolk Partnership Housing Development Fund Corporation and Bedford Construction, Inc.
“I am pleased that Nassau County was able to provide funding to acquire this property so it can soon be a home for a deserving homeowner,” said County Executive Mangano. “HUD’s Neighborhood Stabilization Program truly helps revitalize neighborhoods and create jobs throughout our country while helping families achieve the American dream of homeownership. We are committed to increasing the availability of affordable housing in Nassau County, and I am proud of our investment here in the Village of Hempstead.”
“LIHP is honored to be part of this public-private partnership that will make the American Dream of homeownership a reality” says James Britz, Vice President of the Long Island Housing Partnership.
“We are pleased that Nassau County’s Neighborhood Stabilization Program has provided funding to acquire this property in our Village,” stated Mayor Wayne J. Hall, Sr. “This partnership, in conjunction with numerous programsthe Village has implemented, will strengthenour Village and enhance our community.”
The Neighborhood Stabilization Program enables Nassau County to work with not-for-profit and for-profit partners to purchase foreclosed homes in areas hardest hit by foreclosure. The Long Island Housing Partnership (LIHP), a not-for-profit whose mission it is to provide affordable housing opportunities, is one of Nassau County’s program partners. LIHP, along with Bedford Construction, has acquired six Neighborhood Stabilization homes in Nassau County, including the property at 32 Maple Avenue.
Working with the Parkside Revitalization Committee, the Nassau County Office of Community Development has already invested $1.6 million in federal HOME Investment Partnerships Program funding for the improvements of the Parkside neighborhood. Nassau County has also awarded the Village of Hempstead $80,000 in Community Development Block Grant funds for a road improvement project, which includes Maple Avenue.
