HPD Responds to Hurricane Sandy
HPD has been hard at work with our partners since the storm struck, providing emergency assistance to residents, inspecting and securing buildings, and developing and implementing programs focused on medium- and long-term recovery. Below is a select list of links to property-owner resources. For complete information on all the City’s recovery efforts, please visit www.nyc.gov/recovery.
Homeowners who need an insurance/FEMA check endorsed by HPD when “City of New York” is listed as a payee. (updated 3/14/13)
Storm Recovery Loan Program: HPD and the Community Preservation Corporation provide loans to rehabilitate multifamily buildings (five or more units) damaged by Hurricane Sandy. HPD provides City or Federal funds at 1% interest which combined with CPC conventional financing makes the cost of the loan significantly below market rate. The funds may be used for moderate or substantial rehabilitation of multiple dwellings damaged by the storm. Permitted uses include refinancing existing debt on the building or repairing damage and mitigating the effects of future storms. Please see the term sheet for more information
|Neighborhood Housing Services (NHS) of NYC: Emergency Loans for 1-4 Unit Owner-Occupied Homes: NHS provides homeowners with loans and grants to repair water mains, boilers, sewer lines, sidewalk violations, roofs, plumbing, electrical problems and to eliminate conditions dangerous to health and safety. Other emergency repairs may qualify. The maximum loan amount is $10,000, with low interest rates and a maximum term of five years|
NHS Emergency Loans for 5-20 Unit Residential and Mixed-Use buildings – “Landlord One”: NHS provides emergency loans to repair 5-20 unit buildings damaged by Hurricane Sandy. Small property owners, corporations, not-for-profit owners, investors, corporations, and owner-occupants are eligible to apply. Mixed-use buildings qualify as long as the loan is used to repair residential units or systems that affect the residential units. The interest rate is 5% (APR of 6.25%). The maximum loan amount is $25,000 which is available in increments of $10,000, $15,000, $20,000, and $25,000. The funds can be used to replace building wide systems, eliminate code violations, upgrade vacant apartments, eliminate dangerous health and safety conditions, and to make other essential repairs. Visit www.nhsnyc.org or call 212-519-2500 for more information.
Housing Counseling and Legal Services: As homeowners affected by Hurricane Sandy continue the recovery process, many will struggle to make their mortgage payments due to unanticipated expenditures due to Sandy. The Center for New York City Neighborhoods can connect owners to free housing counseling and legal services. Call 646-786-0888 or dial 311 and ask for CNYCN. www.cnycn.org
|Hurricane Sandy upended many lives, leaving a trail of destruction in its wake. Scam artists can seize on a crisis to prey on the vulnerable. Some pose as contractors or foreclosure “rescue” specialists, employing unethical and sometimes illegal tactics to cheat unsuspecting homeowners out of money or even their homes. Don’t be a victim; be Scam Smart. Find out more here. |