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NYC Department of Housing Preservation & Development
Press Room

FOR IMMEDIATE RELEASE
September 19, 2000

Contact:Deborah Samuelson
NHS Director of Public Relations and Marketing
212-519-2512

NHS NYC AND HPD TO HOLD RIBBON-CUTTING CEREMONY

New York - September 19, 2000 - On Wednesday, September 20th Neighborhood Housing Services of New York City (NHS) and the New York City Department of Housing Preservation and Development (HPD) will hold a ribbon-cutting ceremony to commemorate the purchase and rehabilitation of homes by NHS through the Neighborhood Homes program.

The ceremony will be held on lnwood Street in Jamaica at the home of Gladys Lewis, one of the new homeowners. NHS Executive Director Francine C. Justa will moderate the event. Speakers will include State Senator Malcolm Smith; New York City Council Member Archie Spigner; Stacey Cooper, Senior Vice President, North Fork Bank; John Warren, Deputy Commissioner, NYC Department of Housing Preservation & Development; Reginald Shell, Board President, NHS Housing Development Fund Corporation; and Ms. Gladys Lewis.

Sponsored by HPD and developed and managed by NHS, Neighborhood Homes is a program that puts one- to four-unit, city-owned properties (partially or fully occupied) into private ownership by owner-occupants. HPD transfers these properties to NHS for $1 and provides capital, subsidy and tax abatements. NHS rehabilitated the ten homes being commemorated at the ribbon-cutting ceremony with construction loans provided by North Fork Bank. After the properties were rehabilitated, NHS sold seven of these buildings to new owner-occupants. Three of the homes were sold to former city tenants, one of which is Ms. Lewis.

"An extraordinary partnership between North Fork Bank, HPD and NHS has made this accompIishment possible," said Ms. Justa. "Since 1994, NHS Housing Development's subsidiaries have created over 400 affordable residential units and has invested over $50 million of private and public funds in the five boroughs."

"We are pleased to join NHS and North Fork Bank to celebrate the completion of these beautiful new homes," sald John Warren, Deputy Commissioner for Housing Operations. "The Neighborhood Homes program is part of our continuing efforts to provide homeownership opportunities to all New Yorkers."

HPD's mission is to promote quality housing and viable neighborhoods for New Yorkers. The department is the nation's largest municipal housing development agency. Since Fiscal Year 1994, the agency has completed the construction or rehabilitation of 65,000 units of affordable housing.

NHS has 11 citywide offices working to increase and protect investment in underserved neighborhoods. Its mission is to help people help themselves through education, encourage and support neighborhood self-reliance, and create and preserve affordable housing in New York City.

For further information, please contact Deborah Samuelson at (212) 519-2512.




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