AG James Secures Transfer of Four Buildings Comprising 57 Affordable Units in Bedford-Stuyvesant to IMPACCT Brooklyn
Funding from HCR and HPD Will Support Full Renovation of Properties
NEW YORK – New York Attorney General Letitia James, IMPACCT Brooklyn (IMPACCT) Executive Director Jamal Clayton Robinson, New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas, and New York City Department of Housing Preservation and Development (HPD) Commissioner Dina Levy today announced that they have saved four buildings comprising 57 affordable housing units in Brooklyn. IMPACCT is also pursuing funding to renovate these buildings to ensure a safe environment for tenants. The buildings were previously owned by Food First HDFC, Inc. (Food First), a charitable nonprofit organization that attempted to sell the buildings to a commercial purchaser to resolve its debts, in violation of state law.
To preserve the affordable units and allow tenants to remain in their homes, the Office of the Attorney General (OAG) intervened in Food First’s bankruptcy proceeding to ensure IMPACCT, a charitable nonprofit affordable housing developer and community development corporation, could purchase and operate the four buildings rather than a purchaser with no previous affordable housing management experience. As the new owner and manager of the buildings, IMPACCT will oversee the complete rehabilitation of the four properties and will ensure that all 57 units remain affordable.