PRESS RELEASE
Contact: L. Von Kuhen, 631-471-1215 x149 or lkuhen@cdcli.org

FOR IMMEDIATE RELEASE

Reclaim Long Island Homes

June 11, 2009 - Freeport, New York – Freeport Community to Reclaim Foreclosed Homes

Community Development Corporation of Long Island (CDC) in partnership with Nassau County and the Village of Freeport plans to purchase fifteen foreclosed, vacant properties.  These boarded up homes are in the Village of Freeport in Nassau County. CDC will rehabilitate and bring them up to building codes, including making them energy efficient. These homes will be sold to first time home buyers who are below 120% of area median income.

Reclaim Long Island Homes will positively impact property values of surrounding homes, and ultimately stabilize distressed neighborhoods in the Village.

“We appreciate the efforts of CDC in ‘reclaiming’ these foreclosed homes and getting them back into the hands of qualified homeowners. CDC is helping Freeport protect our neighborhoods from an epidemic of boarded up, empty and abandoned houses and saving whole sections of our village from the ravages of the worst economy in 30 years. We are very grateful to CDC for this program and to Nassau County for providing funding under the Neighborhood Stabilization Program” stated Village of Freeport Mayor Andrew Hardwick.

“CDC’s Reclaim Long Island Homes program is made possible through extensive collaboration with our partners, the Village of Freeport, Nassau County, and New York State.  Foreclosures have a devastating impact on families and a broader impact on our communities.  With the launch of this program we will help families in distress, preserve homes, and help to stabilize the Freeport community” stated CDC President & CEO Marianne Garvin.

About Community Development Corporation of Long Island
CDC is a not-for-profit organization whose mission is to extend participation in Long Island’s version of “The American Dream” to people whose circumstances have precluded that participation.  Since 1969, CDC has been assisting families and small businesses with services that support housing and economic development.  Last year, CDC served more than 7,300 Long Islanders investing nearly $73 million into their communities.  For additional information, please visit www.cdcli.org.

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