The program offers up to a $100,000 forgivable loan to cover down portions of down payments or closing costs. On October 4, 2021, the Department of Housing Preservation and Development announced the first expansion of its “HomeFirst” Down Payment Assistance Program. The “HomeFirst” Program offers financial assistance in the form of a forgivable loan for first-time homebuyers in purchasing a home in New York City by helping cover portions of down payments or closing costs.
Search Results for: Affordable Housing
City Planning Holds Public Hearing for Addition of Dialysis Center to Nursing Home in Sheepshead Bay
The application will add square footage in the basement but not change the height of the building. On July 14, 2021, the City Planning Commission heard an application for an upgrade in residential rezoning to allow for the construction of a dialysis center and other changes at the Sheepshead Nursing and Rehabilitation Center at 2840 Knapp Street in Sheepshead Bay, Brooklyn.
City Council Passes Legislation in Increase Value of Rental Assistance Vouchers
The increased voucher amounts help take advantage of decreased rents. On May 27, 2021, the New York City Council passed legislation that increases the number of apartments available to homeless New Yorkers and helps move more New Yorkers out of shelters and into permanent housing. The legislation, titled Int. 146-C, requires the City to pay higher rates to homeless New Yorkers receiving rental assistance vouchers and eliminates the program’s previous five-year cap for vouchers. … <Read More>
First HomeFix Project Helps Make Critical Home Repair in Canarsie
The HomeFix project helps to provide affordable financing and loans in order to help family homeowners make necessary repairs. On May 10, 2021, the New York City Department of Housing Preservation and Development announced the first rehabilitation project completed by the HomeFix project. The HomeFix project is a program that provides affordable financing for essential home repairs in small family-owned properties located across New York City.
DEP Proposes New Water Rates for 2022
This Administration has retained over $1 billion in the water system to keep rates affordable while ensuring funding for drinking water and wastewater projects. On May 10, 2021, the New York City Department of Environmental Protection proposed a 2.76 percent increase to the water rate in 2022 to the City’s Water Board. Funding has helped to create critical programs while keeping rates low for property owners and businesses. New York City water rates are approximately … <Read More>
NYCHA Announces $261 Million in Completed Renovations for Three Developments in the Bronx
The private and non-profit partnership allows for more funding while maintaining resident public housing rights. On February 17, 2021, the New York City Housing Authority (NYCHA) announced the completion of upgrades in three NYCHA developments across the Bronx. The upgrades at the Baychester, Murphy, and Betances Houses impact 54 buildings and 1,810 units and are the home to an estimated 4,300 people. The renovations cost $261 million.