The Lower Manhattan Development Corporation today announced the availability of applications for $281 million in federal funds for downtown residents. The Residential Grant Program, approved by the Department of Housing and Urban Development in June, provides financial incentives to retain and attract residents in Lower Manhattan. Applications are available online at www.renewnyc.org and at convenient locations throughout the area. The LMDC has also launched a toll-free hotline to answer questions about the grant program, 1-866-RenewNYC.
The online service center features an eligibility survey and information in three languages. Residents who prefer to obtain applications in person may visita community office in Chinatown and another office set to open soon in Tribeca. LMDC has formed Mobile Application Teams of local residents and multilingual staff to conduct outreach in key neighborhoods and buildings. A comprehensive media campaign scheduled for the fall will also raise awareness of the program and encourage every eligible resident to apply.In order to minimize the risk of loss from fraud, LMDC has retained a Compliance Auditor and investigative team, who will operate a fraud prevention hotline and other initiatives.
Since the Residential Grant Program was first announced in February, there has been a tremendous resurgence of interest in moving to Lower Manhattan, which is reflected in the decrease in residential vacancy rates. The occupancy rate of Battery Park City was 60 percent after the attack, rose to 74 percent shortly after the announcement of the draft plan, and is now over 90 percent.
Governor Pataki said, ”This program is essential to creating a vibrant neighborhood in Lower Manhattan. Downtown residents form the foundation of all efforts to strengthen the community, and they have shown their commitment by making the choice to actually take part in the revitalization process. The individuals and families who make Lower Manhattan their home will ensure that the spirit of renewal fills the area, from restaurants and movie theatres to parks and schools.”
Mayor Michael R. Bloomberg said, "With occupancy rates as high as 90% in areas like Battery Park City, this program is proof that our efforts to stabilize and revitalize the residential communities surrounding the World Trade Center site are working. I would like to thank HUD, the Governor and the Board of the Lower Manhattan Development Corporation for working together to provide residents with an incentive to remain downtown while also offering prospective residents a reason to become a part of Lower Manhattan's bright future."LMDC Chairman John C. Whitehead said, “These HUD funds are important to lower Manhattan residents and will also help encourage families to make a home in this vital area of our city.”
LMDC President and Executive Director Louis R. Tomson said, “We’re very excited that the program is underway and that funds will soon be dispersed to existing and new residents of Lower Manhattan. We’re also committed to ensuring that these grants go to as many eligible residents as possible, but only to those residents who are entitled. Working with our private and public sector partners, we will remain vigilant in preventing fraud throughout the duration of this program.”
Applications are available at:
About The Residential Grant Program
The plan divides Lower Manhattan into three zones of eligibility, depending on proximity to ground zero:
•Zone 1 - defined as the area south of Chambers Street and west of Nassau and Broad Streets, including all buildings which face on those streets and the entirety of Battery Park City; •Zone 2 - defined as the area outside Zone 1 but south of Canal Street and southwest of Rutgers Street, including all buildings which face on those streets; and •Zone 3 - defined as the area north of Canal Street and Rutgers Street, south of Delancey or Kenmare Streets, and east of Lafayette Street in Manhattan, including all buildings which face on those streets with the exception of Canal Street and Rutgers Street.
Individuals (both owners and renters) living in these zones may be eligible for these grants:A) SEPTEMBER 11, 2001 RESIDENTS GRANTS - A $1,000 one-time grant per household for on-going residents of Zone1, Zone 2, or Zone 3 who lived in lower Manhattan on September 11, 2001.
B) FAMILY GRANTS - A one-time family grant for households with children under age 18 that make at least a one-year commitment to living in lower Manhattan.
1) Zone 1 is eligible for a $1,500 grant2) Zone 2 is eligible for a $750 grant3) Zone 3 is eligible for a $750 grant
C) TWO-YEAR COMMITMENT BASED GRANTS - Grants for households that make at least a two-year commitment to living in lower Manhattan: (Note - Certain rent restrictions apply. Please see Partial Action Plan for more details.)
Zone 1 is eligible for 30% of the monthly rent (or mortgage payments, plus maintenance costs and real estate and related taxes for owner occupied units), up to $12,000 over two years
Zone 2 is eligible for 30% of the monthly rent (or mortgage payments, plus maintenance costs and real estate and related taxes for owner-occupied units), up to $6,000 over two years
In order to be eligible for grants, renters must have leases commencing on or after June 1, 2001 and on or prior to May 31, 2003. Owners must purchase apartments on or prior to May 31, 2003.
Click here to learn more about grants for eligible residents of Lower Manhattan.