Chase provides $4.2M for 34 affordable homes.Shepherd Townhouses, representing 68 new units of affordable housing, have opened in the Morrisania section of the Bronx. Construction of Shepherd Townhouses was made possible by a $4.2 million loan from the Chase Community Development Corporation (CCDC CCDC Cambridge Crystallographic Data Centre CCDC Centre City Development Corporation (San Diego, California) CCDC Consultant in Communicable Disease Control CCDC Certified Chemical Dependency Counselor CCDC Colorado Cross-Disability Coalition ), a subsidiary of The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. . Chase is also providing mortgages for the new homeowners. Shepherd Townhouses, built by Andrew Velez Construction, has been sponsored by the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Housing Partnership's Neighborhood Builders Assistance Program, designed to help minority contractors gain experience while producing affordable housing. The program, developed by the CCDC and the Partnership, includes 75% insurance of the construction loan by the State of New York Mortgage Agency The State of New York Mortgage Agency (SONYMA) was created in 1970 as a public benefit corporation due to shortages of funds in the private banking system for New York State's residential mortgages. (SONYMA SONYMA State of New York Mortgage Agency ). Subsidies by the Federal, State and City governments allow the two-family homes to be made available for approximately $140,000 each to applicants whose annual incomes are under $53,000. Located at Prospect Avenue and 169th Street, Shepherd Townhouses consist of 34 two-family homes, each of which is a two-and-a-half-story attached townhouse with a rear yard and a parking pad for two cars. |
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