Town of Islip Housing Development Corporation
Town of Islip Housing Development Corporation
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About this organization
Revenue
$229,756
Expenses
$336,841
Mission
The Town of Islip Housing Development Corp was formed to assist in expanding affordable housing choices and opportunities to low income residents of the Town of Islip.
About
To acquire, construct and provide affordable rental property and affordable housing initiatives used in conjunction with various programs, such as the Section 8 Housing Choice Voucher Program, and to establish and provide a program for first-time homebuyers with the Town of Islip Housing Authority. Provide grant funds to further affordable housing for low-income families and maintain long-term viability of affordable housing properties.For the year 2016, affordable housing development opportunities were limited in identifiable opportunities. The main accomplishment was to approve a grant award to further the longevity by 30 to 40 years of 360 public housing units for elderly and disabled families by providing a grant for the replacement of windows for the 360 units totaling approximately $945,000. The grant was necessitated due to funding reductions from the federal government and the dilapidated condition of the windows for safety and energy consumption. The window parts to repair were obsolete, and the safety in a situation requiring easy egress for an aging population was critical. The grant will improve the housing, add safety to the housing and improve the health of the low-income families served. The project was 66% complete as of December 31, 2016, and is expected to be completed in the late spring of 2017.For years 2014-2015, the most recent accomplishment was the completion and occupancy of a 3-family home for low-income families in Bay Shore. The home was constructed on what was three separate parcels and rezoned as one lot. The units provide for one accessible 3-bedroom unit and two 2-bedroom units. The units have a fire sprinkler system, security cameras, private parking and yard space. The house was designed to look like a single family home to blend into the community. A grant was made to the Long Island Association of Housing and Redevelopment Officials, a NAHRO local chapter, to further facilitate and address low-income affordable housing needs. The organization has also made grants to families to further their affordable housing needs when afflicted with bedbugs in subsidized housing, and when fire struck a low-income housing complex affecting four families. Grant funds were made avilable to the local Public Housing Authority to provide assistance with expediting improved accessibility features for walkways and ramps that will assist low-income families with disabilities while furthering fair housing. To date, we have constructed in Bay Shore one new 2-family dwelling, which is occupied by two low-income rental families, and one new 3-family dwelling, which is occupied by three low-income rental families. Our Tudor Lane First-Time Homebuyer Program (18 units) was completed with the sale of 18 affordable 2-4 bedroom homes to new, first-time homebuyers. The properties continue to be held by the buyers, and the organization holds equity mortgages where the families are relieved of their obligation to repay if the properties are used as the primary residence for a period of at least 10 years, which will start to occur in late 2016. The organization continues to pursue additional opportunities for developing affordable housing by partnering with the Long Island Housing Partnership (LIHP) to identify properties that can be converted to first-time homebuyer status. The organization continues to provide support to the annual Town of Islip Drug Prevention Basketball Tournament. Participants come primarily from families with low or moderate incomes, and many of these families are recipients of affordable housing subsidies or are eligible for the subsidies. By participating, the organization permits the eligible public to be more aware of the availability of our services, and the organization also enhances the living standards of the affordable housing stock by helping to prevent drug use and/or sales, which have a negative impact on the availability of affordable housing locations.There were two new programs developed during 2011. The first will provide up to $800,000 in conjunction with LIHP to purchase and rehabilitate foreclosed homes. These homes will then be sold to first-time homebuyers as affordable housing. This program is expected to create 10 to 15 housing opportunities. The second program will be a grant of $400,000 in conjunction with LIHP and other agencies such as Suffolk County to write down purchase prices for an affordable housing complex to assist eight families in the 80% of median income bracket with a first-time home purchase. These units, if subsidized, will allow an immediate impact in the targeted community of downtown Bay Shore.During 2012, the organization continued the above initiatives and added a Neighborhood Stabilization Program (NSP) to rehabilitate 8 to 15 foreclosed homes by committing $800,000 toward that effort. Two boarded-up homes were purchased in order to seek zoning changes to construct one 3-family home for rentals to qualified low-income elderly/disabled persons.During 2013, two of the NSP houses have been completed for first-time homebuyers. Zoning changes were completed and construction began on the Lakeview property 3-family rental house. In addition, the organization provided startup support to the Long Island Association of Housing and Renewal Officials, Inc, a non-profit organization.
Interesting data from their 2020 990 filing
From their filing, the objective of the non-profit is stated as “The town of islip housing development corp was formed to assist in expanding affordable housing choices and opportunities to low income residents of the town of islip.”.
When talking about its functions, they were outlined as: “The town of islip housing development corp was formed to assist in expanding affordable housing choices and opportunities to low income residents of the town of islip.”.
- The legally reported state of operation for the non-profit is NY.
- According to the filing, the non-profit's address in 2020 is 963 Montauk Highway, Oakdale, NY, 11769.
- The non-profit organization as of 2020 has a total of 0 employees reported on their form.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Provides credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is between $100,000 and $250,000.
- Revenue less expenses is -$107,085.
- The CEO's compensation within the organization is not based on a review and approval by an independent party.
- The organization has 4 independent voting members.
- The organization was formed in 2001.
- The organization is required to file Schedule O.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization has minutes of its meetings.
- The organization has grants to organizations.
- The organization's financial statements were reviewed by an accountant.
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