New York Covenant has been able to expend zero capital to build. We were able to pay off our existing 2.4 million dollar mortgage and will receive a new church facility at the completion of the development. We increased the affordability portion of the development from the 80% Average Median Income (AMI) requirement to 55% AMI by securing 2.5 million dollars from a faith-based non-profit.

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As a result of our relationships, the local unions and trades notably lowered their rates to be competitive bidders for our project as well as others in our city.