I’m guessing that this home lottery offered by NYC city government is going to be pretty competitive.
Marion-Sumpter New Foundations Homes is pleased to announce that applications are now being accepted for eleven (11) three-family homes priced from $485,000 to $595,000 located in the Bedford Stuyvesant section of Brooklyn. These homes are being developed through the New Foundations Homeownership Program of the City of New York’s Department of Housing Preservation and Development with the assistance of the Housing Partnership Development Corporation and the New York State Affordable Housing Corporation. Every home also includes a tax abatement. The estimated household income required to purchase a home will range from approximately $75,000 to $105,430 (adjusted for household size). Purchasers with a larger down payment may qualify with a lower annual income.
Qualified applicants will be required to obtain mortgage financing, should have at least 5% to 20% of the purchase price for down payment and closing costs and must meet income and household size guidelines and additional selection criteria to qualify. For an application please send a self- addressed envelope to: 1958 Fulton Street, Brooklyn, NY 11233. Completed applications must be returned by regular mail only (no certified, registered, express or overnight mail will be accepted) to a P.O. Box number that will be listed with the application, and must be postmarked by October 16, 2008. Applications postmarked after October 16, 2008 will be set aside for possible future consideration. Applications will be selected by lottery; applicants or co-applicants who submit more than one application will be disqualified. Duplicate applications will not be accepted. In addition, residents of Brooklyn Community Board 3 will receive preference for 50% of the units. Eligible households that include persons with mobility impairments will receive preference for 5% of the units; eligible households that include persons with visual and/or hearing impairments will receive preference for 2% of the units; and Municipal employees of New York City will receive preference for 5% of the units. Prospective applicants who currently own, or have owned for the past five years, a subsidized property developed under an HPD program are ineligible.
What, exactly, are the addresses of these 11 homes? Good question — dunno.