Mortgage crisis settlement to help fund affordable housing 

Part of a $1 billion settlement received by New York from the mortgage crisis will come back to mission-based organizations to create affordable housing.

The state announced a new program May 20 to award $1.4 million over two years through its Mission-Based Affordable Housing Partnership to help mission-based institutions, including faith-based religious institutions and nonprofit civic and charitable organizations to repurpose property for affordable housing development.

Funding for the grants comes from a $1 billion settlement received by New York through the 2013 Residential Mortgage-Backed Securities Working Group’s $13 billion settlement with JPMorgan Chase for its role in the mortgage crisis.

The program, open to organizations in Erie County and 10 other New York counties, will provide funds to connect institutions, especially those with limited resources, to development experts to guide them through the development process.

The program is intended to address what state Attorney General Letitia James calls “a crisis” in affordable housing.

“We must use every tool at our disposal to protect and expand our housing stock,” she said.

Participants will get help in three specific areas: outreach support and regional education events; consultation services on regulatory issues and site specific market studies; and predevelopment technical assistance. They’ll also get legal assistance to review deeds and contracts.

Applications through the request for applications will be acceptedthrough June 28, with awards to be announced in mid-July.

Panorama Hispano is the regional news and information newspaper for Hispanic and other diverse communities.

US Hispanics are now the largest ethnic minority in the United States numbering 54.2 million as of July 2014. Serving: Buffalo, Rochester, Fredonia, Niagara Falls, NY and Erie, PA. Outside our Market area: Visit our affiliate at: http://www.impremedia.com/

Contact us: Contact@PanoramaHispanoNews.com

Featured News

Dec 2, 2020
LeBron James seguirá con Lakers hasta el 2023

LOS ÁNGELES (AP) — LeBron James llegó a un acuerdo de extensión de contrato con los Lakers de Los Ángeles. Klutch Sports, la agencia de James, confirmó el miércoles el acuerdo durante la primera semana de campamento para los campeones de la NBA. Los Lakers están afinando también los detalles del nuevo convenio con Anthony […]

Read More
Dec 2, 2020
Daddy Yankee revivirá su histórico concierto por YouTube

Tras hacer historia en el Coliseo de Puerto Rico, con 12 funciones completamente llenas el pasado año 2019, Daddy Yankee, celebrará el aniversario de esta hazaña regalando el video de su concierto completamente gratis a sus fanáticos a través de su canal de YouTube. Daddy Yankee anunció a través de su Instagram que el próximo […]

Read More
Dec 1, 2020
Buffalo Employment and Training Center - Hiring during COVID 19 - Job postings

Buffalo Employment and Training Center    77 Goodell St., Buffalo, NY 14203      716-856-5627 / 716-856-5670 Fax www.workforcebuffalo.org     Orientation Times: Monday-Thursday, 10 am or 2 pm.     job announcements, news and other info are also available on Facebook, LinkedIn,     Twitter @BETC updates and Instagram @BETC716     Mayor: Byron W. Brown * County Executive: Mark C. Poloncarz * Exec. Director, BETC […]

Read More

popular categories

Featured (1,528)
Mundo Latino (1,018)
Negocios / Tecnología (229)
Salud (185)
COVID 19 Updates (173)
Entretenimiento (148)
Vida y Estilo (224)
Deportes (125)
Locales / Regional (118)
Buffalo (1,164)
Dunkirk (902)
Rochester (871)
NY and Erie (811)
PA (680)
Opinión (86)
Copyright © 2020 Panorama Hispano News. All Rights Reserved.
crossmenuchevron-downmenu-circlecross-circle
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram