Bank underwrites better Brooklyn housing

Bank underwrites better Brooklyn housing
Joanna DelBuono

Borough Wide

Three cheers for Signature Bank for providing much-needed funds to borough business as part of its Building Improvement Initiative program.

The grant check for $100,000, (total grant: $500,000), was presented to Juan Ramos, David Lopez and Katie Kreifels of Southside-Los Sures in Williamsburg; Bernell Grier at IMPACCT in Prospect Heights; and Michelle de la Uz of the Fifth Avenue Committee in Carroll Gardens, by Joseph J. DePaolo, president and chief executive officer at Signature, and John Tamberlane, vice-chairman at the Bank’s midtown Manhattan headquarters.

Signature Bank’s Building Improvement Initiative Program is designed to provide needed capital to not-for-profit owner operators to facilitate and expedite improvements for tenants in their respective buildings.

The grants were earmarked for capital improvements to affordable housing properties. The bank offered not-for-profit housing organizations this Recoverable Grant to finance building-wide or apartment-unit improvements that will benefit low-to-moderate (LMI) income tenants.

Standing O says “Thank you.”

Signature Bank (26 Court St. between Remsen and Montague streets in Brooklyn Heights).

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