NCLB'S LOCAL LANDLORD PROGRAM
NEIGHBORS FOR NEIGHBORHOODS
The NEIGHBORS FOR NEIGHBORHOODS initiative was inspired by successful land bank efforts as 13 Chambers Street in Newburgh. The property, which was acquired by the Newburgh Community Land Bank in 2013, was renovated by a local architect and now provides three families with affordable rental housing.
Through this program, NCLB will transfer ownership of rental properties at low cost to a local owner. The renovation of the properties will be done with respect to the historic value of the buildings and contribute to the neighborhood character. In exchange for the property, the new property owners will maintain the properties to affordable low- and moderate-income rental units for local families for a period of 20 years.
For all interested parties, please check sign up for notifications below, and we will contact you directly when we secure funding for our community and start working with local people to enhance our neighborhoods and the quality of rental housing. At that time, we will release available properties via Request for Proposals and more program specifics. Thank you and we look forward to implementing Neighbors for Neighborhoods here in Newburgh!
APPLY FOR NEIGHBORS FOR NEIGHBORHOODS
RFA 167 N MILLER
ATTENTION NEWBURGH RESIDENTS! You can help revitalize your neighborhood by acquiring and responsibly managing a newly renovated 2-family rental building!
Using a special grant from Enterprise Community Partners (ECP) through the NYS Office of the Attorney General’s Community Revitalization Initiative, the Newburgh Community Land Bank, Inc. (NCLB) has renovated 167 N Miller Street, Newburgh NY. NCLB is offering this property for sale to local owners.
The price of the home is $220,000.
As part of the program, the purchaser will complete a web-based landlord training course provided by ECP. For a period of 20 years after purchase, the rental must be rented to tenants earning no more than 80% of the Area Median Income (AMI)1, at rents no more than 30% of 80% AMI. That unit must remain rental throughout this regulatory period; at no time may the purchaser occupy that unit.
Interested purchasers will be evaluated on the following scoring basis. The purchaser with the highest score, will be offered a Purchase and Sale agreement.
Current residency in the City of Newburgh (10 points)
Current residency within 15 miles of the subject property2 (5 points)
Applicant does not currently own more than two rental properties (5 points)
Applicant is a member of a race or group who has historically faced mortgage discrimination (10 points)
Applicant has no prior negative real estate history, including delinquent property taxes, foreclosures, or code violations
For consideration, please complete the Purchase Application, including offer price, and all required supplemental materials by 5:00 pm on Friday, November 8, 2019.
either electronically to firstname.lastname@example.org or by delivery of two printed copies to NCLB offices at 15 Chambers St, Newburgh, NY, 12550.
Complete applications will be reviewed by NCLB staff and board members, with the winning applicant expected to be selected at the NCLB board meeting currently scheduled for Monday November 18, 2019.
INCOMPLETE APPLICATIONS WILL NOT BE CONSIDERED.