Organizations Filed Purposes:
LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY, INC. (LIPCLT) WAS ESTABLISHED TO PROVIDE HOUSING WITHIN NASSAU AND SUFFOLK COUNTIES IN NEW YORK FOR "PERSONS OF LOW INCOME", AS DEFINED IN ANY FEDERAL OR STATE LOW INCOME HOUSING CAPITAL PROGRAM OR OTHER TYPE OF AFFORDABLE HOUSING PROGRAM. AS LONG ISLAND'S FIRST REGIONAL COMMUNITY LAND TRUST, LIPCLT SUPPORTS STRONG, VITAL COMMUNITIES ACROSS LONG ISLAND THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PERMANENTLY AFFORDABLE HOMES FOR PEOPLE OF ALL AGES. LIPCLT WAS DEVELOPED AS AN INNOVATIVE SOLUTION MODEL TO ADDRESS THE CRITICAL AFFORDABLE HOUSING NEEDS OF LOW- AND MODERATE-INCOME FAMILIES BY PROVIDING BELOW-MARKET HOMEOWNERSHIP OPPORTUNITIES THAT PRESERVE PERPETUAL AFFORDABILITY AND ENGAGE KEY MUNICIPAL PARTNERS. UNDER ITS SHARED-EQUITY MODEL, LIPCLT RETAINS OWNERSHIP OF THE LAND AND LEASES THE LAND TO HOMEOWNERS FOR A RENEWABLE TERM OF 99 YEARS, WHILE THE HOMEOWNERS PURCHASE AND HOLD OWNERSHIP INTEREST IN THE PHYSICAL STRUCTURE.
TO PROVIDE HOUSING WITHIN NASSAU AND SUFFOLK COUNTIES IN NEW YORK FOR "PERSONS OF LOW INCOME", AS DEFINED IN ANY FEDERAL OR STATE LOW INCOME HOUSING CAPITAL PROGRAM OR OTHER TYPE OF AFFORDABLE HOUSING PROGRAM.
IN 2019, LIPCLT CONTINUED ITS PRE-DEVELOPMENT WORK TOWARD THE REBUILDING OF 23 SUPERSTORM SANDY-DAMAGED HOMES ACROSS LONG ISLAND, AS WELL AS THE NEXT PHASE OF SCATTERED SITE DEVELOPMENT. THIS WORK INCLUDED THE DEMOLITION & SUBSEQUENT START OF CONSTRUCTION OF SEVERAL NEW HOMES IN BOTH NASSAU AND SUFFOLK COUNTIES. IN JUNE 2019, LIPCLT COMPLETED AND TRANSFERRED ITS FIRST COMMUNITY LAND TRUST UNIT IN NASSAU COUNTY. THIS HOME WAS SOLD TO AN ELIGIBLE HOME BUYER WHO MET INCOME GUIDELINES AND WOULD NOT OTHERWISE HAVE BEEN ABLE TO AFFORD A NEW HOME IN THE MARKET PLACE.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Kevin S Law | SECRETARY | 0.1 | $0 |
| Valerie Canny | CFO | 7 | $0 |
| James Britz | EXEC. VICE P | 7 | $0 |
| Peter J Elkowitz Jr | PRESIDENT | 9 | $0 |
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public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202012909349300316_public.xml