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Con Edison Media Relations
Contact: D. Joy Faber
Telephone: (212) 460-4111

For Immediate Release: October 26, 2000

CON EDISON AND FEDERAL HOME LOAN BANK SPONSOR HOUSING & ECONOMIC DEVELOPMENT FORUM

Bridging the gap between neighborhood decay and attracting new private housing investment was the goal of a free forum hosted today by Consolidated Edison Company of New York and the Federal Home Loan Bank of New York (FHLB-NY).

The forum, “Toolbox for Housing and Economic Development in Brooklyn and Queens,” targeted members of the banking community and non-profit housing and economic development concerns throughout New York at the business event held in Elmhurst, Queens.

“For more than two decades, the Con Edison RENAISSANCE Housing Program has helped to rehabilitate and reconstruct more than 2,000 vacant dwellings in close to 30 neighborhoods throughout New York City,” said Frances A. Resheske, vice president of public affairs for Con Edison. “Continued informational exchanges like today’s forum will ensure that the RENAISSANCE program will continue to generate new private sector reinvestments while providing affordable housing for area residents,” she added.

Donald Wolff, Senior Vice President of FHLB said, “we are here not only to encourage the creation of affordable housing, but also to encourage economic development ventures. This is a win-win partnership for all involved.”

Greenspoint Bank, Astoria Federal Savings and Loan Association and HSBC Bank USA were among the banks represented at the forum. Officials outlined current financial opportunities and resources available in home loan financing and other financial strategies. At least 20 member banks of the FHLB attended the forum.

Con Edison is a subsidiary of Consolidated Edison, Inc., one of the nation’s largest investor-owned energy companies, with more than $8 billion in annual revenues and $16 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison’s web site at www.coned.com.


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