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HUD Launches Affordable Housing Campaign

Posted by: Abhijeet Chavan
Thanks to: Abhijeet Chavan
18 January 2001 - 10:00am

Hundreds of homes in New York City targeted byunscrupulous lenders and not-for-profits will be rehabilitated by HUD and sold to reputable community-based, not-for-profits and moderate-incomehomebuyers.

Hundreds of homes in New York City that have been targeted byunscrupulous lenders and not-for-profits will be rehabilitated by the U.S. Department of Housing andUrban Development and sold to reputable community-based, not-for-profits and moderate-incomehomebuyers under an agreement announced by HUD Secretary Andrew Cuomo.The agreement announced today is between HUD and a consortium of not-for-profit organizations inHarlem and Brooklyn that, with HUD financial assistance, will rehabilitate and then re-sell or rent theproperties at affordable prices.

Full Story: HUD No. 012
Source: HUD News, January 17, 2001
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Rarely does eminent domain get credit for the positive things that have been accomplished through its use. Without it, our urban areas would be places without the great virtues of conformity and sensible land use.
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