News: Long Island

CDC of Long Island completes 22-unit workforce community

Twenty-two families marked a new beginning in their lives as homeowners as Community Development Corporation of Long Island marked the completion of a 22-unit workforce community. The homeowners, along with officials from state, county and local government, including Suffolk County executive Steve Levy and Southold town supervisor Scott Russell, formally cut the ribbon and opened the gateway to the Cottages at Mattituck. "Many of these working families are achieving the dream of home-ownership in the same town in which they were born and raised. The collaboration of several partners is responsible for creating this unique opportunity and enabling these new homeowners to maintain their roots," said CDC of Long Island president Marianne Garvin. "We are overjoyed for the new homeowners at the Cottages at Mattituck," said Suffolk County executive Steve Levy. "But we are also celebrating the success of our inter-municipal efforts to create housing opportunities for many working families who wish to keep their roots here on Long Island. It is my hope that the drive, determination and cooperation that helped establish this community will serve as a role model for many others." Russell said, "These families are our friends, our workers, our neighbors. I am pleased that because of the dedication and commitment of CDC and the partnerships of Federal, State, County, and Town governments, these people will be able to stay where we need them...in Southold Town." The new workforce community was a collaboration of several groups working together. Suffolk County provided bond funds for land acquisition and federal HOME dollars for purchase price subsidies. The New York State Affordable Housing Corporation offered additional subsidies, and NeighborWorks America provided closing costs assistance. Support from the Town of Southold was critical to the success of this development. The Long Island Power Authority (LIPA) provided rebates under its Clean Energy Initiative. The two-bedroom 1,100 s/f homes were built to Energy Star standards, and include Energy Star rated appliances. The homes tested at 30% - 40% better for energy efficiency than New York State codes. The owners of these homes will save thousands of dollars in energy costs over the long term, which will help them to live here for many years to come. The Cottages at Mattituck were built for working families and single individuals who live or work in the Town of Southold.
MORE FROM Long Island

Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.