Record-breaking Year

News & Events > Record-breaking $4.7 million in lending

Elmsford, NY, December 21, 2007 - An extraordinarily strong lending cycle for the Leviticus Fund in 2007 has provided over $4.7 million in approved financing for affordable housing and community-facility projects in the tri-state area.

The approved projects run the full range of Leviticus’ financing priorities, from construction of very low-income senior housing to construction of an early childhood center. The $4.7 million in total financing for the year marks the highest level of lending for Leviticus in its 24 year history.

“Leviticus is very pleased to be able to provide this level of financing to the low-income communities that we serve in New York, New Jersey and Connecticut,” said David Raynor, Leviticus’ Executive Director. “The quality of life in these communities is greatly improved when residents have access to quality, affordable housing and community-based services responsive to mental health needs and early childhood education.”

Here are highlights of some of 2007’s financed projects:

Pine Tree Mobile Village, Eatontown, NJ - A $500,000 loan from Leviticus, coupled with $2.5 million in additional financing, to purchase the 133-unit manufactured home park. The sale conditions require that the nonprofit purchaser, Affordable Housing Alliance, maintain Pine Tree as a manufactured home community, which will preserve the long-term affordability of housing for the residents.

Mercy Haven Inc., Islip Terrace, NY - Loans totaling $735,000 - plus an additional loan approved last year, but disbursed this year - to purchase three, one- and two-family homes on Long Island to create permanent supportive housing for formerly homeless families.

Cross Counter Inc., Newark, NJ - A fire-damaged shelter/crisis center for young girls is currently undergoing renovation thanks to a $300,000 loan from Leviticus.

A-HOME Community Enterprises, Mount Kisco, NY - $1 million in Leviticus’ financing for construction of a 12-unit, two-building affordable housing project for seniors in Westchester County. The project will serve senior citizens earning below 60% of area median income.

Housing Resources of Columbia County, Hudson, NY - A $95,000 loan, as part of a $1.5 million project, to purchase and preserve a 24-unit very-low-income senior housing project in Columbia County, NY. The project will serve seniors below 30% of median income.

An additional project by HRCC, valued at almost $1.6 million, received $500,000 in financing from Leviticus to purchase 122 acres of land in Copake, NY. The site will be used to develop 102 for-sale units and 36 rental units, 30 of them affordable to families under 80% of area median income.

Unified Vailsburg Services Organization, Inc., Newark, NJ - $1 million in financing for a $5.1 million Early Childhood Center serving low-income, working families in the Ivy Hill section of Newark. Once completed, the center will enroll 210 three- and four-year olds in the district’s Abbott Program.

Bellport, Hagerman, East Patchogue Alliance, Bellport, NY - A $115,000 loan to purchase a single-family home in Suffolk County to create an affordable rental unit for low-income families.

Community Housing Innovations, Inc., White Plains, NY - a $500,000 loan to purchase and rehab a single-family home to create 19, single-room occupancy units. The project will serve very low income men in Dutchess County, providing both shelter and services.

Corporation for Independent Living, Wethersfield, CT - A $216,000 loan to secure a two-family home for supportive housing for low-income families.


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About Us Who We Help Ways to Invest Ways to Borrow Make a Gift News & Events Advocacy	News & Events > Record-breaking $4.7 million in lending Elmsford, NY, December 21, 2007 - An extraordinarily strong lending cycle for the Leviticus Fund in 2007 has provided over $4.7 million in approved financing for affordable housing and community-facility projects in the tri-state area. The approved projects run the full range of Leviticus’ financing priorities, from construction of very low-income senior housing to construction of an early childhood center. The $4.7 million in total financing for the year marks the highest level of lending for Leviticus in its 24 year history. “Leviticus is very pleased to be able to provide this level of financing to the low-income communities that we serve in New York, New Jersey and Connecticut,” said David Raynor, Leviticus’ Executive Director. “The quality of life in these communities is greatly improved when residents have access to quality, affordable housing and community-based services responsive to mental health needs and early childhood education.” Here are highlights of some of 2007’s financed projects: Pine Tree Mobile Village, Eatontown, NJ - A $500,000 loan from Leviticus, coupled with $2.5 million in additional financing, to purchase the 133-unit manufactured home park. The sale conditions require that the nonprofit purchaser, Affordable Housing Alliance, maintain Pine Tree as a manufactured home community, which will preserve the long-term affordability of housing for the residents. Mercy Haven Inc., Islip Terrace, NY - Loans totaling $735,000 - plus an additional loan approved last year, but disbursed this year - to purchase three, one- and two-family homes on Long Island to create permanent supportive housing for formerly homeless families. Cross Counter Inc., Newark, NJ - A fire-damaged shelter/crisis center for young girls is currently undergoing renovation thanks to a $300,000 loan from Leviticus. A-HOME Community Enterprises, Mount Kisco, NY - $1 million in Leviticus’ financing for construction of a 12-unit, two-building affordable housing project for seniors in Westchester County. The project will serve senior citizens earning below 60% of area median income. Housing Resources of Columbia County, Hudson, NY - A $95,000 loan, as part of a $1.5 million project, to purchase and preserve a 24-unit very-low-income senior housing project in Columbia County, NY. The project will serve seniors below 30% of median income. An additional project by HRCC, valued at almost $1.6 million, received $500,000 in financing from Leviticus to purchase 122 acres of land in Copake, NY. The site will be used to develop 102 for-sale units and 36 rental units, 30 of them affordable to families under 80% of area median income. Unified Vailsburg Services Organization, Inc., Newark, NJ - $1 million in financing for a $5.1 million Early Childhood Center serving low-income, working families in the Ivy Hill section of Newark. Once completed, the center will enroll 210 three- and four-year olds in the district’s Abbott Program. Bellport, Hagerman, East Patchogue Alliance, Bellport, NY - A $115,000 loan to purchase a single-family home in Suffolk County to create an affordable rental unit for low-income families. Community Housing Innovations, Inc., White Plains, NY - a $500,000 loan to purchase and rehab a single-family home to create 19, single-room occupancy units. The project will serve very low income men in Dutchess County, providing both shelter and services. Corporation for Independent Living, Wethersfield, CT - A $216,000 loan to secure a two-family home for supportive housing for low-income families.