Helpful homeownership strategy.AS A BLACK ENTERPRISE SUBSCRIBER, I WAS PLEASED to see your Around the Nation piece titled "Are Co-ops The Way?" (Newspoints, December 2005). My organization, NCB (Network Control Block) A packet structure used by the NetBIOS communications protocol. Development Corp. (NCBDC), an affiliate of National Cooperative Bank The National Consumer Cooperative Bank (NCCB) was created and chartered by the National Consumer Cooperative Bank Act (92 Stat. 499, 12 U.S.C.A. 3001), enacted on August 20, 1978. The bank is directed by the act to encourage the development of new and existing cooperatives. , works to promote affordable cooperative homeownership as an effective means to preserve affordable housing and create homeownership opportunities for low-income families. The bottom line is that cooperatives minimize expenses by operating at cost with no profit. Affordability is maintained through a limited equity structure, which restricts resale prices. At the same time, affordable cooperatives provide the opportunity to create wealth through reduced monthly housing costs and the accumulation of equity over time. This has been proven and detailed in a recent major study by Susan Saegert Susan Saegert is Director of the Center for Human Environments (CHE) and Professor of Environmental Psychology at the CUNY Graduate Center where she has worked since receiving her PhD in Social Psychology from the University of Michigan. and Melissa Extein, experts in the housing field. Through NCBDC's Together We Can program, we offer technical assistance to experienced nonprofit developers who want to offer their constituents affordable homeownership options. Together We Can works to increase affordable homeownership by building developers' capacity to develop affordable cooperatives. And in partnership with the City of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , the organization has successfully created homeownership opportunities for former inner-city renters who are now homeowners. Again, I applaud BLACK ENTERPRISE for bringing attention to a successful homeownership model for low- to moderate-income families who want to live the American dream American dream also American Dream n. An American ideal of a happy and successful life to which all may aspire: . John Holdsclaw IV, director of policy development NCB Development Corp. jholdsclaw@ncbdc.org |
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