Community Board No. 2 in Brooklyn is hosting five free seminars on financial empowerment that will be held over the next year by housing advocates so area residents have the credit history they need to qualify for housing lotteries, as well as in-depth orientations on the application process.
A recent report by the Downtown Brooklyn Partnership highlighted a building boom, with thousands of new residential units on the way. A significant number of those units—up to 1,100 over the next three years—are affordable units available to the public through a lottery process, with at least 50 percent of the units set aside for local residents.
Despite this requirement, developers often have a hard time filling that quota, with lottery applicants often deemed ineligible because of minor errors in their applications or poor credit. Enter a unique program spearheaded by the Downtown Brooklyn Partnership, in conjunction with State Assemblyman Walter Mosley, City Council Member Laurie Cumbo and some of the area’s largest real estate developers, including Acadia Realty Trust/Washington Square Partners, BFC Partners, Forest City Ratner Companies, Steiner NYC LLC and Two Trees Management Company, to help area residents better compete for the units coming online.
For more information on the seminars, call Community Board No. 2 at 718 ‑ 596-5410