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May 21, 2019 1:20 PMPublication: The Southampton Press

Proposed Affordable Housing Complex in Southampton Awarded $8.9 Million In Federal And State Funds

Preliminary concept for 60 affordable housing units at 130 County Road 39, Southampton. MICHAEL PINTAURO
May 21, 2019 4:17 PM

Governor Andrew M. Cuomo recently announced that millions of dollars in state and federal funding would be used for a proposed 60-unit affordable housing complex off County Road 39 in Southampton.

A press release sent out Friday stated that the New York State Homes and Community Renewal program granted $8.9 million to the project, which is being proposed by the Medford-based nonprofit Concern for Independent Living. It is one of three affordable housing projects on Long Island to be awarded a grant this year through the program.

The project, called Concern Southampton, calls for six 10-unit buildings containing affordable housing for veterans, the workforce and people with disabilities, on 5 acres of a 9.4-acre vacant parcel of land that the Southampton Full Gospel Church owns behind its building.

“We’re very pleased to receive this award from what is a very competitive application for funding,” said Ralph Fasano, executive director of Concern for Independent Living.

Although the grant is $8.9 million, the actual funding that the developer would receive would be closer to $20 million.

About $1.2 million of the $8.9 million comes from the federal government and is for one year of low-income housing tax credit. Mr. Fasano explained that the tax credits are claimed over a 10-year period; however, the investors that buy the credits pay all 10 years upfront. So Mr. Fasano’s organization would receive about $12.3 million in federal tax credits, plus the remaining $7.6 million—state funds from the program—to kick-start the housing project.

About $28 million was budgeted for the project, Mr. Fasano said. So for the remainder, he said they are looking to take out a $6.2 million loan from Community Preservation Corporation, a nonprofit bank that supports affordable housing and community revitalization projects, and are seeking about $1 million in reimbursement from the Suffolk County Infrastructure Program.

Mr. Fasano presented preliminary site plans to the Southampton Town Board in February, to which Supervisor Jay Schneiderman and board members told him to garner support from the community before submitting a formal application. So far, the nonprofit submitted a preliminary zoning application and is hoping to go before Town Board within the next month with an update on community feedback and site plan adjustments, Mr. Fasano said.

“I’m happy to meet with them,” Mr. Schneiderman said. “It’s really important that they see if they can work through some of the concerns.”

Southampton Village residents from the Hillcrest neighborhood, which borders the proposed site, expressed concerns in March about traffic and safety problems, as site plans showed an access road going from the complex into their neighborhood.

Mr. Fasano said his group listened to residents’ opinions and is now seeking to modify the site plan to remove that access road.

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There is definitely a need for affordable housing but the article doesn't state what the price of these "affordable" units will be
By itsamazing (224), Southampton on May 21, 19 4:46 PM
By knitter (1941), Southampton on May 21, 19 6:43 PM
Instead of using Hillcrest the planners should use the pre-existing entrance to the rehab facility and complete the loop to the new development.
By deepchanel (89), Hampton Bays on May 22, 19 10:30 AM