Parodneck Is One Of The Organizations B.S.C. Helps Support. Working With The Parodneck Foundation The Parodneck Foundation has operated in the field of affordable housing for over 30 years, with special focus on cooperative, not-for-profit, mutual and senior homeowner housing assistance. In 1973 (as the Consumer Farmer Foundation, Inc.) The Parodneck Foundation was the first group to provide funds to residents seeking to purchase buildings from delinquent and absentee landlords in what became the City’s first ownership transfer program. The Parodneck Foundation was also the first to fund local “sweat equity” groups enabling local residents to leverage needed government funds to complete the moderate and substantial renovation of multiple dwellings. This kind of investment in people and neighborhoods continues today, impacting on the lives of thousands of families who are now able to protect, upgrade and preserve the affordability of their homes. This not only prevents homelessness, but supports new housing so that homeless families can move from shelters to permanent, safe, affordable housing. Some of the programs The Parodneck Foundation provides in support of these efforts are the following: HDFC Support Program Housing Development Fund Corporations were developed about 30 years ago to provide a mechanism for the transfer of landlord-abandoned, residential properties to not-for-profit neighborhood groups and tenant associations. Since that time, tens of thousands of units of affordable housing have been created through this important program. Since the early 70’s the Parodneck Foundation has provided financial assistance (mostly bridge loans, pre-development loans and small construction loans) to HDFC’s for the purpose of purchase and rehab, emergency repairs and other financial assistance. Beyond Shelter Coalition supports this effort by providing some of the capital Parodneck Foundation uses to make these loans. Once repaid, this same capital is used again and again to support new and different efforts in all low-income neighborhoods. To be eligible the building must be resident controlled or controlled by a not-for-profit allowing substantial resident participation in the operation of the building. Basic loan underwriting criteria are applied to evaluate all loan requests. CATCH - Community Assisted Tenant Controlled Housing, Inc. is a city-wide mutual housing association designed and operated on the eastern European model of “mother-daughter” cooperatives. Essentially, CATCH serves as the citywide organization that provides governance oversight staff support, back-office services, property management oversight, construction management and other services to new HDFC owners who join the Mutual. Currently CATCH has sponsored over 700 units of housing in six neighborhoods in New York City. CATCH assists the residents obtain title to their building(s), which are usually the most severely deteriorated structures in the neighborhood. CATCH obtains renovation funds for the building, closes all loans and trains the tenants, or sweat-equity residents, how to operate and participate within the Mutual Housing structure. CATCH units house very-low income families who could not otherwise afford their rent. Beyond Shelter Coalition funds have been used to help purchase CATCH buildings and to support pre-development activities that allow buildings to have been purchased and rehabilitated. The Parodneck Foundation 121 Sixth Avenue, Suite 501 New York, NY 10013 Tel: (212) 431-9700 Fax: (212) 431-9783 email: parodneck@worldnet.att.net In part supported by: The City of New York Department of Housing Preservation & Development and by Beyond Shelter Coalition. The Parodneck Foundation for Self-Help Housing &Community Development is a 501(c) (3) tax-exempt nonprofit foundation.