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From NorwalkPlus.com News
“NNI is grateful for Citi’s generous support. It is really a vote of confidence in the many community-minded people who live, work and have committed to Stamford’s West Side neighborhood,” said Ross Burkhardt, President & CEO of the nonprofit community development organization that maintains its offices at NNI’s flagship Martin Luther King Apartments in the heart of the West Side. “Citi funds will help us stem the loss of decent affordable housing in the area by supporting our work to preserve, rehabilitate and build owner-occupied multi-family housing. Additionally, the retail space located at the base of these buildings will attract new local merchants to the community, contributing to the overall stabilization and revitalization of the neighborhood.” Over the past several years NNI has joined with community based groups and stakeholders in Stamford’s West Side to forge a comprehensive community development vision, to ensure the neighborhood’s long term diversity, affordability and livability. In a city that saw its affordable housing stock shrink by 18% from 1998 to 2006, stemming the loss of housing and population in a neighborhood that historically has been among Stamford’s most affordable by improving the environment for residents and businesses is acute. The Citi Foundation grant provides NNI with resources to move this vision closer to reality by identifying sites and small assemblages for building new housing, as well as abandoned, foreclosed and under-utilized sites suitable for preservation. NNI’s housing development team is using the opportunity to incorporate green technologies into new and preserved housing units that will reduce the carbon footprint in the urban neighborhood and lower energy costs for tenants and owners. "At Citi, we believe sustainable and vibrant economies make good business sense and we support community development in underserved neighborhoods,” said Susanne Cameron, Connecticut State Director, Citi Community Development. "NNI has made a huge impact in Stamford, revitalizing and preserving neighborhoods, and that is why Citi and the Citi Foundation have been supporting this organization for many years; they share our commitment to helping develop communities by creating access to affordable housing." NNI has several low and moderate income housing developments on the drawing board and underway, including a 50-unit development in Stamford’s South End neighborhood, preservation through rehab and new construction on the West Side of Stamford, and the $23 million renovation of 121-unit Friendship House. It is celebrating its 43rd year of developing and managing quality housing that has made it possible for hundreds of low and moderate income families to move up and for seniors to remain in the communities where they lived, raised families, worked, and given back. For information on the status of building and preserving housing and neighborhood revitalization in Stamford and Fairfield County, visit the NNI website at www.nnistamford.org. About New Neighborhoods, Inc. (NNI): NNI is a Stamford, CT based 501(C)3 nonprofit housing corporation. NNI, which celebrated its 40th anniversary in 2007 as the oldest actively operating nonprofit housing developer in Fairfield County, traces its beginnings to 1967 when it was started and then spun off by the Council of Churches and Synagogues (now the Interfaith Council). NNI builds new homes, redevelops and rehabilitates existing ownership and rental homes, and manages rental properties for families and individuals unable to afford market rate housing in southwestern Connecticut. NNI has developed more than 160 affordable housing units in Stamford, has developed and manages 346 units of low and moderate income family and senior housing in Stamford, 28 units of supportive and affordable housing in Danbury and 56 units of affordable housing including 6 supportive units for U.S. veterans in Norwalk, and has helped countless families to home ownership. Its Tenant Advocate Program (TAP) connects tenants with existing community resources that can help them set and reach goals for achieving self sufficiency. NNI has plans to add up to 200 additional units of affordable housing in the region over the next couple of years. More information is available at www.nnistamford.org. About Citi Foundation: The Citi Foundation is committed to the economic empowerment of individuals and families, particularly those in need, in the communities where we work so that they can improve their standard of living. Globally, the Citi Foundation targets its strategic giving to priority focus areas: Microfinance and Microenterprise, Small and Growing Businesses, College and Careers, and Financial Capability and Asset Building. In the United States, the Citi Foundation also supports Neighborhood Revitalization programs. The Citi Foundation works with its partners in Microfinance and Microenterprise, Small and Growing Businesses, and Neighborhood Revitalization to support environmental programs and innovations. Additional information can be found at www.citifoundation.com. About Citi: Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. © Copyright by NorwalkPlus.com © Copyright by NorwalkPlus.com. 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