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Bronx, New York (NYSE) 1 February 2012

NYC Housing Conservation and Development (HPD) NYC Housing Development Corporation (HDC), in New York City Housing Authority (NYCHA) and the NYS Department of Homes & Community Renewal (DHCR) joined Macque development and Union Grove Baptist Church at the opening of the Rev. Dr. Fletcher C. Crawford Apartments celebrate 84-unit low-income developing Crotona Park East neighborhood of the Bronx, which is located at 1468 Hoe Avenue. New affordable housing development named in honor of the longtime pastor of Union Grove Baptist Church, Rev. Dr. Fletcher C. Crawford.

Rev. Dr. Fletcher C. Crawford houses founded Bloomberg administrations new housing Marketplace plan. The plan by Mayor Bloomberg in 2003 launched a multibillion-dollar initiative to 165 000 units of affordable housing for half a million New Yorkers is finance by the end of fiscal year 2014. So far the plan through the creation or retention of more than 126 990 units of affordable housing in all five boroughs is financed. Almost 39 000 units have been funded for over 6100 units of Bronx Community Board 3, where the Rev. Dr. Fletcher C. Crawford Apartments is located.

beauty of affordable housing lies in its impact on the surrounding communities. To lift this development of new homes and strengthen existing neighborhoods. What makes today’s event so special is that the impact of the development’s namesake so much that we stand here today moved to a brick and mortar representation of the heart of this community, said Mathew Wambua, NYC HPD Commissioner. We believe that this new development, a meeting place for the city, state and local partnerships in 84 new housing units out. I would like to thank the staff of the HPD, HDC, chromium, NYCHA and all our partners for their hard work and investment, without the improvements in the neighborhood, because it would not be possible.

Rev. Dr. Fletcher Hotel is a great example of how city agencies work together with our private and nonprofit partners to find new ways to affordable housing and long-term stability of the New York families and neighborhoods creating said Marc year President of the NYC HDC. Creating affordable neighborhoods is an important aspect to the mayor of new homes PCI Graphics Card Market Place plan. HDC is proud to be preserved, and about 17 301 affordable homes Bronx. Investments in the city and its development partners has helped to bring about a significant change in this district.

completion of this development is a positive step in the quality of working families permanent rent in the Bronx, “said Rella Fogliano Chairman Macque Development, LLC.” During the project we have a much-needed construction jobs and an important skill for the future development of employment opportunities for local residents. We are also proud that we are capable of many green initiatives were integrated into the building. “A woman has developed in the possession Corporation, Macquer developing affordable housing in the Bronx, Manhattan and lower Westchester for over 16 years.

development led namesake, Rev. Dr. Crawford, the Union Grove Baptist Church for 50 years and retired in 2006. Veteran of the Second World War, the Rev. Dr. Crawford, a member of numerous organizations and was a strong leader in the community. He has organized several community initiatives such as Summer Youth programs and social services to help citizens.

development is a 82 891-square-foot, eight-story masonry elevator building in the former city-owned plot of NYCHA provides developers built. The building comprises seven studio units, 29 one-bedroom units, 40 two-bedroom units, seven three-bedroom units and one unit of a superintendent. Seven apartments are reserved for the handicapped, hearing and vision. Furthermore, 20% of the units for formerly homeless households have been reserved. Another 25% of the shares are based on households in the New York City Housing Authority (NYCHA), subject to the waiting list. 84 units are affordable to tenants with less than 60% of area median income (AMI), or equivalent, to earn a maximum of $ 46,080 (family of four).

Rev. Dr. Fletcher C. Crawford Apartments Nychas exemplary commitment to affordable housing for low-income New Yorkers, and its complement are worth celebrating, said NYCHA Chairman John B. Rhea. This partnership NYCHA, HPD, HDC, DHCR, Macquer development and Union Grove Baptist Church emphasizes the Bloomberg administration committed to maximizing agencies throughout the private and public sector to resources and housing options for the hard-working New Yorkers. We are confident that this new development will be key factors contributing to a growing community growing community, and we were more proud to be part of the cooperation that can be achieved.

HCR Commissioner / CEO Darryl C. Towns said that under the leadership of Governor Cuomo of New York State will continue to ensure the community-based affordable housing projects, such as to create in this case, the move into the design. States of $ 12.5 million commitment to the project shows a clear commitment to this community with a $ 3.8 million houses in Working Families Act funds and $ 8.7 million low-income housing tax credits.

Development Assistance of the total cost of the Rev. Dr. Fletcher C. Crawford Apartments is $ 26,600,000. The development was financed by HDCs low-income Affordable Marketplace Program (LAMP). HDC provided $ 13.4 million in tax-exempt bonds for the financing and construction, $ 3.6 million of corporate culture reserves and $ 4.6 million in grants. HPD at the $ 2.8 million through the Low Income Rental income program, and $ 2,100,000 HOME funds, NYS Department of Housing and community Renewal (DHCR) participated in the $ 3.7 million houses in Working Families (HWF), and if $ offered 8.7 million, for low-income credit (LIHTC) equity. Less than DHCRs HWF program must be 100% HWF-assisted units meet LIHC rent restriction requirements, and offers affordable units to households or less than 60% of area median income for 50 years.

Development Corporation (HDC):

Housing Development Corporation (HDC) provides a variety of support programs for the creation and preservation of multi-family affordable housing throughout New York City. The collaboration with NYC Department of Housing preservation and development works HDC Mayor Michael R. PCI graphics card market is to implement new housing proposed to fund the creation or preservation of 165 000 affordable homes by the end of fiscal year 2014. New York City Housing Development Corporation is AA, S & P and Aa2 by Moody’s rated.

About the NYC Department of Housing preservation and Development (HPD):

HPD Nations, the largest municipal housing companies for the preservation and development of businesses in the office. Its mission is to provide quality housing and viable neighborhoods for New Yorkers through education, public relations, loan programs and the development and enforcement of housing quality standards to promote. It is responsible for the implementation of the new home, the mayor wants to fund PCI Graphics Card Market Place for the construction or preservation of 165 000 units of affordable housing until 2014. Since the start of planning for more than 126 990 affordable homes were created or maintained. For more information, visit http://www.nyc.gov/hpd

About New York City Housing Authority (NYCHA):

New York City Housing Authority (NYCHA) Public Housing Authority is the largest in North America and offers suitable and affordable housing and safe living environment for low and moderate income residents in the five Borou
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