The program, "Teacher Next Door," is modeled after a similar program for police officers. Beginning next month, full-time public school teachers can seek to buy houses owned by the department in what it deems "revitalization areas" at 50 percent of their appraised value. Buyers are required to live in the houses at least three years.
The department said it was encouraged to start the program because of the success of a similar program for the police, "Officer Next Door," which began in 1997. So far, more than 2,700 officers nationwide have bought half-price houses, which are typically foreclosed residences in high-crime neighborhoods.
In New York City, the Housing Department has eligible houses and condominiums in 54 neighborhoods in all five boroughs, and about 70 officers have bought homes through the program.
"It's a win-win program," said Housing Secretary Andrew M. Cuomo, whose department owns about 6,000 houses nationwide that are available through the programs. "It's a win for the teacher who gets an affordable home, and it's a win for the community, which gets a stable person in the neighborhood."
[ NYTimes - 7/14/99]
The New York State Legislature was considering similar action during November 1999. Another example of OUR taxes at work.
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