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Thursday, July 6, 2006

BERNARDI VISIT HIGHLIGHTS HOMEOWNERSHIP MONTH IN BUFFALO

Deputy Secretary Roy Bernardi visited Amherst NY to highlight the "Homeownership Month" activities of the Buffalo Field Office. A full array of HUD programs and partnerships were on display as a new home rose on the footprint of a HUD REO property in the town.

(from left) Buffalo office director Steve Banko, Amherst Town Supervisor Dr. Satesh Mohan, and HUD Deputy Secretary Roy Bernardi present house-warming gifts to the town's newest homeowner, John Vrenna, during a Homeownership Month observance in the Buffalo area.

The town bought the HUD-insured mortgage foreclosed property in April of 2005. The property was then transferred for $1 to New Opportunities, a Community Housing Development Organization (CHDO). Amherst is part of a HOME Program consortium that includes the neighboring towns of Cheektowaga and Tonawanda. The existing structure was torn down and a new home built on the existing foundation. Amherst held an open house in May of this year and accepted applications from first time homebuyers through June 2006. Funds from the New York State Department of Housing and Community Renewal (DHCR) were also used in the project. HUD’s American Dream Down payment Initiative (ADDI) was also made available to the new homebuyer.

An REO property stood on the site that now showcases a brand new home. The Town of Amherst and its CHODO created this new ownership opportunity by blending several HUD and state programs

Over the last 24 months, the ACT (Amherst-Cheektowaga-Tonawanda) consortium has developed 32 properties – 25 new builds and 7 rehabs. The consortium uses a HUD-certified housing counseling agency to provide mandatory homeownership preparation for prospective buyers.

Deputy Secretary Bernardi called the project "proof positive of what can be done when governments and the community work in concert."

"We always achieve more in concert than we do in conflict," Secretary Bernardi said. "This house is proof positive what can be done when HUD, local governments, their CHODOs, and the state come together to build communities by providing opportunity.

"Few aspects of community are more effective than home ownership in creating stable, thriving neighborhoods."

Deputy Secretary Bernardi and Amherst Supervisor Dr. Satish Mohan presented the new homeowner, John Vrenna, with a welcome mat and an American flag as house warming gifts.