NSB Participates With Equity Builder Program

By JOHN VOKET

Published: Jun 08, 2012 12:00 am

For the second year in a row, Newtown Savings Bank is participating with the Federal Home Loan Bank of Bostonâs Equity Builder Program (EBP).Â

The program is designed to expand homeownership opportunities for income-eligible homebuyers by providing grants up to $10,000.Â EBP funds may be applied toward the down payment, closing costs, or property rehabilitation, and may be used in conjunction with other programs.

2011 EBP recipients Nadine and Daniel Karlinsky were featured in the Federal Home Loan Bank of Bostonâs quarterly Results magazine.Â

The Karlinskys received a $5,000 grant from the FHLBâs Equity Builder Program to assist with closing costs for the purchase of their first home in Shelton.

Additional details are available by contacting any Newtown Savings Bank mortgage representative at 800-461-0672.

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You assumption that there have been no offers to purchase property to protect it from development of 117 luxury cluster homes is simply wrong. And so is the developer's refusal to even come to the table.

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You do realize that the town has been trying, and failing, to develop this property for more than 20 years, becuase of the multitude of environmental harm that development would cause, wasting $250k of taxpayer money in the process, don't you? Thankfully, sometimes, realities and needs come before street names. The sewage treatment plant was a need - thats not 'commerce'. Well, the aquifer under 6 Commerce, and the Class1 trout habitat next to it are needs too. If you still are stuck on the street name getting the last word, you should probably ask the State why they designated 34 acres there as open space, when they granted it to us. And if you're still hung up on it after that, let's just change the name of the access road to #6 & #8 to something more fitting....like Conservation Drive....so you can be more at ease.

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Since when is Economic Development narowly defined as tax revenue? You (and the leadership of the EDC) need to broaden your collective understanding of what drives local economies if you want to be successful in helping to grown the local economy. Here's a hint: Positive Cashflow. The town is no different than any business. Top line tax revenue means nothing if it doesn't exceed the costs that come with. That's why converting the last few remaining open spaces to residential housing is a losing proposition economically. CVHAS brings 10's of thousands of people to Newtown annually, who spend money at our restaurants, watering holes and other local businesses, without a signficant increase in, or dependence on, town services. Non-profits are fantastic for local economies, be they private schools, zoo's, museums, land trusts, theaters, or yes, animal sanctuaries.

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NSB Participates With Equity Builder Program

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