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Affordable New Homes for Bellport, NY
On Monday, April 17, 2006, HUD's NYC-based Community Planning and Development Director Teresa Bainton joined Suffolk County Executive Steve Levy and Brookhaven Town Supervisor Brian X. Foley for a ribbon cutting ceremony for the Partnership for New Homes Program in the Hamlet of Bellport, NY. The event was to kick off and celebrate CDBG (Community Development Block Grant) Week celebrations in New York.
The project consists of 20 new homes for first-time homebuyers and is an excellent example of cooperation and creativity in using funds from various sources for the purpose of creating affordable housing. CDBG funds in the amount of $276,705 were used for infrastructure improvements including a street and curbing and water lines. $600,000 in HOME funds and $500,000 in NYS Affordable Housing Corporation matching funds subsidized the per-unit cost of $171,405. The land was provided to the Town of Brookhaven by Suffolk County at a cost of $1.00. The final cost to the homeowners was only $116,405! This is noteworthy since the average cost of a house in Suffolk County is currently $396,000. The Long Island Housing Partnership had oversight of the construction, conducted the lottery and secured private financing for the mortgages. Ms. Bainton was presented with a certificate of appreciation for HUD's major contribution to the project.
Congratulations to the new homeowners as well as to those from the various organizations that worked together to develop this project!
Content Archived: March 07, 2011