LMDC Approves First Round of Residential Grants

[Cranky Tenant]

From http://www.LowerManhattan.info/news/lmdc_approves_first_round_66494.asp

LMDC grants make downtown property more attractive
LMDC Approves First Round of Residential Grants

October 8, 2002

The Lower Manhattan Development Corporation (LMDC) approved the first round of residential grant applications on Monday and will begin distributing checks to downtown residents this month.  More than 15,000 applications have been received since the LMDC began accepting applications on August 15.  Of those, 313 have been processed and approved, representing $625,000 in grants.

The LMDC will continue to process applications in order of date received. The grant program, announced in February, will distribute $281 million in federal funds to residents and would-be residents in neighborhoods south of Delancey and Kenmare streets, on the east side, and south of Canal farther west. Given as both one-time payments and two-year grants, the awards range from $1,000 to $14,500, depending on location and housing costs.

Of the 313 approved applications, more than one-third will go to senior citizens on the Lower East Side and in Chinatown, thanks in great part to an early outreach campaign by Asian Americans for Equality (AAFE), which manages the residential grant program's office in Chinatown.   "We did initial outreach to seniors and the homebound," said LMDC spokesperson Nancy Poderycki. "Now that we are up and running and have fraud measures in place, we will start approving all complete applications fairly quickly."
 
Occupany rates rise downtown due to new residential grantsFraud has been a chief concern since the creation of the grant program.   To minimize the risk of loss from fraudulent claims, the LMDC has retained a compliance auditor and investigative team to operate a fraud prevention hotline [(866) 830-9131].  Staffers at the residential grant program office also have been trained to recognize applications that show signs of tampering or that reflect incorrect information, says Poderycki.

 

The grant program has received overwhelming praise since it was first proposed in February. "This program is essential to creating a vibrant neighborhood in Lower Manhattan," said Governor George E. Pataki.

Since the residential grant program was announced, fast-falling vacancy rates in several neighborhoods reflect a significant renewed interest in moving to Lower Manhattan.  In Battery Park City, for example, where occupancy rates fell to 60% after the attack, 96% of residential units are now filled.  "The residential grants were a big tool," said Tim Carey, Battery Park City Authority president and CEO.  "Without that assistance we would still be struggling with the aftermath of 9/11 in the residential buildings."

In addition to working to prevent fraud, the LMDC, in partnership with several government offices, has created an eligibility database to help streamline the processing of applications. 

For those who have not yet applied for the grant program, two offices have been created to assist in the application process -- one in Chinatown at 225 Park Row, the other in Tribeca at 68 Reade Street.  There, eligibility specialists meet with applicants and guide them through the process.  The LMDC also formed mobile application teams of local residents and multilingual personnel to conduct outreach in key neighborhoods.  These teams, who already have distributed thousands of applications, will return in late fall to help applicants fill them out.

For more information on the Residential Grant Program or to determine whether or not you are eligible, please consult the residential section of our 
Assistance Took