A.G. Announces $20.9 Million for Land Banks to Rebuild New York Neighborhoods
March 31, 2017
As published by Spectrum News on March 25, 2017.
ALBANY, N.Y. — Attorney General Eric Schneiderman has announced new grants for land banks that are helping to rebuild neighborhoods across New York State.
Schneiderman said Friday that $20.9 million in grants will be given to 19 land banks throughout the state.
The purpose of the grants is to help fund land banks, which are organizations looking to renovate abandoned buildings, turning them into productive properties.
Nearly $3.5 million have been awarded to three land banks from the Capital Region.
“The three capital area land banks have acquired well over 700 properties,” Schneiderman said. “They’ve already renovated and returned to market more than one 125 and demolished over 100 unsafe structures.”
The grants were awarded through the Land Bank Community Revitalization Initiative, bringing Schneiderman’s total investment in land banks to $57 million since 2013.