Suffolk County, NY - May 1, 2017 - Suffolk County Executive Steve Bellone was joined by Community Development Corporation of Long Island (CDCLI) and the Long Island Housing Partnership (LIHP) to announce the beginning of construction for two bank-foreclosed properties on Magnolia Street in Central Islip. The two properties were acquired by the Suffolk County Landbank Corporation (SCLBC) as part of its Acquire and Renovate Bank Owned Residences (ARBOR) program.
County Executive Bellone, who serves as the Chairman of the Suffolk County Landbank, was joined by Presiding Officer DuWayne Gregory, Legislators Tom Cilmi and Monica Martinez, affordable housing partners, and Landbank board members for a ceremonial “Breaking of the Wall” to mark the beginning of construction. The blighted properties will be reconstructed as energy efficient homes to further ease the burden of energy cost for potential owners. The innovative partnership with community development agencies is among County Executive Bellone’s plan to create affordable housing for working and middle class residents in the County.
“My administration is committed to making sensible investments in our community to reduce the County’s rate of foreclosure and make homeownership a source of pride rather than a burden on our families,” said Suffolk County Executive Steve Bellone. “I credit the success of the Suffolk County Landbank initiative to the dedicated staff and to our partners at the state level for providing the critical resources that allows us to rebuild our communities.”
“Today marks another exciting step for the Suffolk County Landbank, which has fostered development in some of Suffolk’s hardest-hit communities. Investing in homeownership while at the same time renovating foreclosed homes is the kind of community investment that yields long-term sustainability. It is wonderful to see the difference this program continues to make in our neighborhoods, and I thank all the stakeholders who have contributed to its success,” said Suffolk County Legislature Presiding Officer DuWayne Gregory.
Legislator Tom Cilmi said, "As a member of the Suffolk County Land Bank Board, I am delighted to begin to see the results of the work we've put in. And as a Legislator representing Magnolia Street, I'm pleased to see those efforts paying off here in Central Islip. Today we begin re-construction of two houses, but more importantly, let this day be symbolic of the rebuilding of this wonderful community."
“It’s been well documented that the communities of Brentwood and Central Islip are the epicenter in the housing crisis,” said Suffolk County Legislator Monica Martinez. I'm glad to join forces with the County Executive and the Landbank Corp to bring this initiative to fruition which will help communities like mine recover from the foreclosure crisis. This will also assist by spurring investment in Suffolk County, put back abandoned properties back into use, expand the tax base, revitalize neighborhoods, and improve the quality of life for residents."
The construction of the two properties on Magnolia Street will take approximately 8 weeks to complete. Upon completion a broker will advertise the property. Applicants are advised to contact the CDCLI at www.cdcli.org or call 631-471-1215 and LIHP at www.lihp.org or call 631-435-4710 for more information.
Along with Brentwood and Wyandanch, Central Islip is one of only three majority-minority zip codes in Suffolk County and consistently ranks among the top three zip code most negatively impacted by foreclosure. Central Islip also has 1 in 333 Homes in foreclosure; Nearly twice the rate of the County’s overall rate of 1 in 605 Homes.
Gwen O’Shea, President and CEO of Community Development Corporation of Long Island, said “I would like to commend the County Executive, the Suffolk County Legislature, and the Landbank for their commitment to community development. CDCLI is pleased to begin work to rehabilitate and resell our third foreclosed property under this program. This renovated home will provide sorely needed affordable housing for a Long Island family, and help to stabilize and revitalize the neighborhood.”
"Long Island Housing Partnership is honored to work with Suffolk County Executive Steve Bellone and the Suffolk County Landbank to renovate these abandoned properties in Central Islip. These properties, once improved, will address housing needs while improving the Central Islip community. This is an innovative program that provides a model for much-needed affordable housing, blight elimination and neighborhood revitalization said LIHP's President Peter Elkowitz"
Through the Landbank’s existing agreements with Long Island Housing Partnership and Community Development Corp of Long Island, the properties will be renovated and resold as affordable housing to new homebuyers at incomes of 80% of Area Median Income or below.
The Suffolk County Landbank Corporation (SCLBC) is a not-for-profit corporation, which was organized in accordance with the New York State Land Bank Act. The overall purpose of the SCLBC is to facilitate the redevelopment of distressed and underutilized properties within Suffolk County.
For more information on the County’s Landbank initiative visit www.suffolkcountylandbank.org or www.facebook.com/stevebellone.