City housing agency honored by group.The NeighborWorks Campaign for Home Ownership 2002 has selected the Neighborhood Housing Services (NHS NHS abbr. National Health Service NHS (in Britain) National Health Service ) of 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. Inc. as the fourth highest producer of low- to moderate-income homeowners on the campaign's list of "Top 25 Homeowner Producers at 33 Months." Launched in January 1998 and supported by the Neighborhood Reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. Corporation, as well as other public and private sector partners, the campaign is a five-year national initiative to help lower-income families to buy a home. By September 30, 2000, NHS of New York City Inc. produced 799 homeowners. "It's been an honor to be able to work with low-and moderate-income families to help them meet their challenge to own a home in New York City. Homeownership helps them have so much more control over their lives and I consider it a privilege to have been able to assist them," said Francine Justa, executive director of NHS of New York City. NHS of New York City Inc. is a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. , community revitalization re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. organization working to increase investment in underserved neighborhoods. |
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