Syracuse and Onondaga County are among the first municipalities in the state that received approval to create land banks to redevelop vacant or abandoned properties.
Gov. Andrew M. Cuomo signed the state’s Land Bank Program into law in July 2011 and Empire State Development approved the first round of applications Thursday.
“The Land Bank Program empowers local entities to transform urban blight into a source of economic development that will strengthen communities across New York,” Cuomo said. “The Land Bank Program is a central part of my administration’s urban agenda to help transform our struggling urban communities.”
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Syracuse and Onondaga County partnered in their application. Other municipalities and partnerships that received approval in this round are the cities of Buffalo, Lackawanna, and Tonawanda with Erie County; the cities of Schenectady and Amsterdam with Schenectady County; Chautauqua County; and the city of Newburgh.
“These applicants made a strong case that the land bank will be successful in their communities and we fully expect them to make a difference,” Empire State Development (ESD) President, CEO, and Commissioner Kenneth Adams said.
Under the program, 10 land banks may be created with ESD’s approval. Following the approval of the first five land banks in round one, ESD will select an additional five land banks in the second round. Municipalities not selected in the first round are encouraged to reapply.
“The approval of this land bank is great news for Onondaga County,” Onondaga County Executive Joanie Mahoney said. “Our land bank will work with the private sector to redevelop abandoned and vacant properties in the city and the suburbs.”
The land banks will acquire tax delinquent, foreclosed, vacant, and abandoned properties and work with developers to return them to productive use.
“The designation of the Greater Syracuse Property Development Corporation as one of the first land banks in New York state is a testament to the innovative public-private partnership forged in recent years to proactively address the challenge of vacant and tax-delinquent properties throughout Onondaga County,” Syracuse Mayor Stephanie A. Miner said.
For more information on the New York State Land Bank Program, visit www.esd.ny.gov/BusinessPrograms/NYSLBP.html.
Contact DeLore at tgregory@cnybj.com
