Mangano Assists Family Residences And Essential Enterprises In Renovating Facility To Better Serve Nassau’s Disabled Community
Nassau County Executive Edward P. Manganotodayannounced that the Nassau County Local Economic Assistance Corporation (NCLEAC) has approvedlow-interestbonds to assist Old Bethpage-based Family Residences and Essential Enterprises (FREE) inrenovating and equipping a 60,000-square-foot building. FREE, whichprovides community, residential and employment alternatives for the developmentally disabled, must pay all debt associated with this transaction.
“In these challenging economic times, it’s important that government partner withnot-for-profit organizations, such as Family Residences and Essential Enterprises, to deliver important services and programsfor residents,” said County Executive Mangano.“The low-interest financing secured by the IDA will truly help save significant dollars for the organization while they improve their Old Bethpage facility so they may better serve Nassau’s disabled community.”
“Family Residences and Essential Enterprises, Inc., providing services annually to over 3,000 children and adults with disabilities, appreciates the support and assistance provided bythe Nassau County Local Economic Assistance Corp. to enable us to refinance ourexisting indebtedness and achievesubstantial interest savings that will be used to support and maintain programs and services in Nassau County and renovate its Bethpagecorporate headquarters that provides day program services to persons with disabilities, “ said Robert S. Budd, Chief Executive Officer, Family Residences and Essential Enterprises, Inc.
NCLEAC, a local development corporation, was created by the Nassau County Legislature in 2010 to provide assistance for the not-for-profit sector previously supplied by the Nassau County Industrial Development Agency. New York State regulations that allowed IDAs to fund such projects expired in 2008. There is no out-of-pocket expense for NCLEAC.