Mangano Announces Partnership With Homes For Our Homecoming Heroes, Inc

A lottery will be held to provide this affordable housing option to one of our nation’s heroes

Nassau County Executive Edward P. Mangano today announced that the County Legislature approved his plans for the sale of a vacant County-owned property in Hicksville to a not-for-profit corporation that will construct a home for a returning veteran. The not-for-profit corporation, Homes For Our Homecoming Heroes, Inc., is a volunteer-based organization whose mission is to build affordable housing for veterans returning home from serving in Iraq and Afghanistan.

“My administration is determined to provide affordable housing for our nation’s heroes and their families right here in Nassau County, because even one homeless veteran is one too many,” said County Executive Mangano. “We will continue to work with Homes For Our Homecoming Heroes, Inc. to ensure that no veteran is left homeless after returning from the conflicts in Afghanistan and Iraq. This is the time for us to come together and provide such a wonderful service to the veterans in return for their selfless service and dedication to our nation.”

Homes For Our Homecoming Heroes, Inc. coordinates the construction of homes by BOCES student volunteers, building professionals and volunteer organizations. With voluntary labor and the donation of materials, the estimated cost to build a 1,500 square foot home with an attached garage is approximately $150,000. The organization expects to select a qualified veteran who is in need of affordable housing from a lottery and construct a residence on the Hicksville property to suit the specific needs of the selected veteran. The veteran will then be able to purchase the new home at the cost of construction.

In addition to veterans being able to purchase a home at cost, no down payment will be required and the principal will be repaid over either a 15 or 20 year period, depending on which option will be more affordable to the selected veteran. The organization also intends to take out two mortgages on the house. The first mortgage would be an interest free loan and they intend to forgive the mortgage ratably over a 15 year period and the second mortgage on the house will be equal to the difference between the fair market value of the house and construction costs. The second mortgage will be forgiven by the organization ratably over the lifetime of the first mortgage.