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5 billion Southeast Queens Initiative, in which the city will develop a detailed drain system, enhance street conditions, and minimize flooding in areas throughout Southeast Queens. The program the largest of its kind includes 44 projects in general, including 18 substantially completed, 14 in design, and three in active building.

Through HPD's Open Door program, this project will see the demolition or rehab of 13 uninhabited, shabby, previously NYCHA-owned homes to create 16 new and rehabilitated homes constructed to Passive House requirements for cost effective homeownership. This project represents the first new building of inexpensive houses where the land will be moved to the Interboro Neighborhood Land Trust (CLT) to ensure long-lasting cost.

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Thirteen of the new homes will be new building and construction and built utilizing modular construction; three will be gut rehabilitations of the existing structures. Contracts with HPD, Interboro CLT, and the homeowners are structured to ensure that the property owners have the support they need to keep their homes which the homes stay budget friendly in the long term.

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HPD will go into a 40-year regulatory agreement with Interboro CLT, and the CLT will participate in 99-year, renewable ground leases with each property owner.  The Most Complete Run-Down  were awarded to Habitat through a 2018 demand for propositions from NYCHA. In addition to funding from HPD's Open Door program which funds the brand-new construction of homeownership opportunities for low-, moderate-, and middle-income homes funding for this job will be funded by the New York State Affordable Real Estate Corporation and with Reso A funds supplied by Queens District President Donovan Richards, City Council Speaker Adams, and previous New York City Councilmember I.

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HPD also assisted in an Article XI tax exemption, which will help keep ongoing real estate expenses cost effective for lower-income families. The Regional Efforts Assistance Corporation (LISC) and Nonprofit Finance Fund are likewise offering construction financing. "We have dedicated $2. 5 billion for constructing a detailed drain system to ensure public security and safeguard the homes and home of the homeowners and organizations of Southeast Queens," stated.

These homeowners deserve the very same facilities as the rest of the city, and we're making concrete progress on that pledge." "The city's investment in Southeast Queens facilities is growing and making a tangible distinction in the lives of the half a million individuals who reside in these historically underserved areas," stated.