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Islip Town to hold affordable-home lottery

A screen grab of the lottery for affordable

A screen grab of the lottery for affordable housing in Islip. Up to 16 affordable homes could be eligible for purchase at a lottery hosted by The Town of Islip. (June 30, 2011) Photo Credit: Newsday

Up to 16 affordable homes could be eligible for purchase at a lottery to be hosted by The Town of Islip Thursday.

Town officials will pick names from a bingo cage to determine which applicants get first pick of the homes in Bay Shore, Brentwood and Central Islip.

The 17 participants in the lottery for first-time home buyers applied last year through the town's Community Development Agency, said Paul Fink, the agency's executive director. The town then evaluated each applicant's finances, credit and ability to get a bank loan, Fink said.

Each applicant had to meet federal criteria set by the Neighborhood Stabilization Program and the HOME program, which provided federal funds to purchase, renovate and sell the properties, Fink said. The homes -- 10 of which had been foreclosed properties -- are now energy efficient, he said.

Once the homes are allocated, town officials will work with the owners to adjust subsidies and ensure that each family can afford to remain in the new residences, Fink said.

"The housing lottery is one part of our commitment to do all that we can for the families of Islip Town," Islip Supervisor Phil Nolan said in an email.

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