NY applications open for $20M land bank funding
ALBANY — The New York Attorney General's Office has posted applications for $20 million to help Land Banks restore abandoned properties.
The deadline is Sept. 15 with initial selections among competitive applications expected by mid-October.
Attorney General Eric Schneiderman is dedicating money from the 2012 national settlement with five major mortgage lenders over foreclosure practices.
New York's Legislature passed a bill in 2011 establishing land banks that could acquire vacant, abandoned, or foreclosed properties, and choose to rebuild, demolish, or redesign them.
Schneiderman says no state or federal funds have been dedicated to any of New York's eight designated land banks located in at least parts of Schenectady, Onondaga, Erie, Niagara, Suffolk, Broome, Monroe, Orange, Montgomery and Chautauqua counties.