April 05, 2010

Gillibrand Announces $445,400 In Neighborworks® Grants To Neighborhood Housing Services Of New York City, Inc. To Support Financial Education And Affordable Lending In New York City Neighborhoods

New York, NY – U.S. Senator Kirsten Gillibrand (D-NY) today announced $445,400 in NeighborWorks® America grants for Neighborhood Housing Services of New York City, Inc. (NHS).  NHS is a member of the national NeighborWorks® network that supports affordable housing and community development activities throughout the five boroughs of New York City. The funding will support the general operation of the organizations as well as foreclosure prevention, energy efficiency and home improvement programs that help low- and moderate-income families achieve and maintain homeownership at a time when communities need investment most.

“During these tough economic times, we need to help our communities prevent foreclosure,” said Senator Gillibrand. “These funds will give New York City the resources needed to provide counseling and foreclosure prevention programs that will keep families in their homes. Communities need these tools and resources to help promote economic growth in New York and throughout the country.”

“The NeighborWorks® Grant will allow us to continue to help New York City families invest in, preserve and improve their Neighborhood, their Home and their Future,” said NHS CEO in the Interim, Bernell Grier.  "New York City Neighborhoods are unique and resilient. This funding will not only assist our neighborhoods in their economic recovery but also spur further investment that will lead to more vibrant, greener and sustainable communities,” Grier added.

NHS’ NeighborWorks® HomeOwnership Center in Manhattan and its six neighborhood-based offices in Bedford-Stuyvesant, East Flatbush, North Bronx, Northern Queens, South Bronx and Staten Island offer services that stabilize the housing market in their communities. 

Last May, Senator Gillibrand called for additional funding for NeighborWorks® America to help save and create jobs and provide needed capital to stabilize the housing market. A total of $233 million for the organization was included in the 2010 Transportation, Housing and Urban Development Appropriations bill.

In 2010, NeighborWorks® America will provide grants to its national network of more than 230 nonprofit organizations operating in over 4,400 rural, urban, and suburban communities, including New York City. The grants will be used to revitalize and strengthen communities by providing counseling for homeowners on the brink of foreclosure; increasing the number of certified foreclosure and homeownership counselors through training; stabilizing areas hard-hit by the foreclosure and economic crisis by putting vacant properties back into productive use; empowering consumers through financial and homeownership education and counseling; creating homeownership opportunities for low- and moderate-income families; and producing and managing affordable, high-quality rental properties. 

In 2009, NHS invested a total of $161 million in New York City neighborhoods, earning the award for leveraging the most investment throughout the entire NeighborWorks® network of over 230 organizations.

“For every dollar in NeighborWorks® grants, an additional $35 is invested in America’s communities, resulting in a direct investment of nearly $4 billion in the areas served,” said NeighborWorks® America CEO Ken Wade.  “As good stewards of taxpayer dollars, NeighborWorks®  ensures our investments are working in ways that truly make a difference.”

NHS is a member of the NeighborWorks® network, which was created by NeighborWorks® America to improve homeownership opportunities for low- and moderate-income families, provide financial education and improve financial literacy, rebuild and repair properties; develop affordable multifamily units, and, use innovative strategies to improve safety and revitalize communities across the nation.  Collectively, NeighborWorks® America and the NeighborWorks® network have been able to: 

  • Invest nearly $20 billion in America's urban, rural, and suburban communities;
  • Create the nation's largest force of certified homeownership education counselors and foreclosure intervention counselors;
  • Provide homeownership counseling to more than 500,000 families;
  • Assist more than 80,000 families of modest means to achieve their dream of homeownership;
  • Develop, own and manage over 73,000 affordable, high quality rental units;
  • Rehabilitate more than 85,000 homes using state-of-the-art methods, including green and healthy building techniques;  
  • Invest in rebuilding efforts in hurricane-affected communities across the Gulf Coast; and
  • Mobilize hundreds of thousands of volunteers to revitalize communities.

“We are grateful for the support from Congress and our other private, philanthropic and public funders who make our work possible.  Although no one organization or sector can resolve the foreclosure crisis and re-stabilize communities, NeighborWorks® America and the NeighborWorks® network are making a significant contribution to this effort because of the support from Congress and our partners,” continued Wade.