Making Home Ownership More Attainable

The Long Island Housing Partnership, Inc. (LIHP), in collaboration with Nassau and Suffolk Counties, announces a grant award of $1,262,231 from New York State Attorney General Eric Schneiderman and Enterprise Community Partners for the Community Land Trusts (CLT) Capacity Building Initiative.

Under the two-year grant award, LIHP’s affiliate, Long Island Partnership Community Land Trust Housing Development Fund Company, Inc. (LIPCLT), will receive $792,481 from Suffolk County and $469,750 from Nassau County to leverage and expand the community land trust in areas facing high foreclosure rates and a lack of affordable housing opportunities. Funding for the initiative, which will boost community revitalization and preservation efforts, comes from settlements with large financial institutions, negotiated by New York State Attorney General Eric T. Schneiderman.

“The housing crisis devastated families on Long Island and across New York. That’s why I’ve ensured that the dollars secured from the banks will be put to good use revitalizing New York neighborhoods – and providing families with safe and affordable housing for the long term,” said Attorney General Schneiderman. “This grant award marks another step toward stronger and more affordable communities.”

LIHP’s longstanding partners, Citi and Citi Community Development, provided funding for the establishment of LIPCLT in 2016.

“Suffolk County recognizes the economic impact Enterprise CLT Initiative will have on our region and we are proud to support the Long Island Housing Partnership’s effort to help create affordable housing opportunities on Long Island,” said Suffolk County Executive Steve Bellone. “It is important that we continue to work with our partners to support initiatives that make homeownership more attainable, while allowing us to attract a talented workforce to our region.”

“Nassau County is excited to work with its longtime partner, the Long Island Housing Partnership, on the Enterprise Community Land Trusts Capacity Building Initiative, which will increase homeownership opportunities for Long Islanders,” said John Sarcone, Nassau County Director of Housing and Community Development. “We appreciate the NYS Attorney General’s Office for supporting this program.”

The CLT model has never before been implemented across all of Long Island where the cost of housing ranks among the least affordable in New York State. Under this model, a not-for-profit organization owns the residential land, sells the house on that land to a qualified purchaser, and leases the land to the homeowner for an extended period.

“The funding from these grant awards will significantly assist LIPCLT in the redevelopment of blighted properties across Long Island and increased provide affordable homeownership opportunities for low- and moderate-income families,” said Peter Elkowitz, President and CEO of LIHP. “In addition, since LIPCLT will own the land, it will ensure that these homes remain affordable in perpetuity.”

Nassau and Suffolk Counties were selected through a competitive application process in which their respective proposals demonstrated a commitment to improve upon and bridge gaps in local affordable housing programs and provide opportunities for local stewardship and ownership.

“Land trusts help protect and preserve homes so they remain affordable over the long term,” said Judi Kende, vice president and New York market leader, Enterprise. “Enterprise is proud to build off our recent grants to Nassau and Suffolk Counties by supporting the Long Island Housing Partnership Community Land Trust. Together, the land trusts will stabilize and safeguard Long Island communities—and the families who call them home—for years to come.”