By JOSEPH KELLARD
Lucas is developing the co-ops in conjunction with the Hempstead Town Housing Authority. The co-ops are categorized as Golden Age Housing, a form of ³affordable housing² in which prices will be controlled by the township. Among the regulations are that a single occupant of a co-op unit cannot have an annual income above $45,000, and double occupants¹ income cannot exceed $55,000. The cost of a unit is capped at $189,000, and each is estimated to generate approximately $1,200 in annual property taxes. A list will be maintained for prospective buyers.
Further, the co-ops are available to residents 62-years-old or older; first to Oceanside school district residents, second to Town of Hempstead residents, and last to Nassau County residents. If two people move into a unit, only one is required to be age 62; the other can be younger, but children are prohibited from living in the complex. Other restrictions demand that the buyers cannot rent or sell their units to others. ³They¹ll be a cap on the price, and buyers cannot go around and sell it,² said a Housing Authority spokeswoman.
³The whole idea of this co-op is to allow seniors to stay in their community,² Lucas said at a meeting of the Oceanside Civic Association at School 8 on June 14.
The town board granted St. Andrew¹s Church a variance to convert the property, the site of the former Parish Day School, at 50 Anchor Ave., to residential use in June 2002.
Lucas expects that people will begin to move into the co-ops sometime between October and December.
Comments about this story? JKellard@lihearld.com or (516) 569-4000 ext.
