Greater Syracuse Land Bank Delivers Annual Report

The Greater Syracuse Land Bank will deliver its annual report to the Common Council on Wednesday, March 8th at 11:00 AM in the Common Council Chambers at City Hall.

The Land Bank Act requires land banks to report to the foreclosing governmental unit(s) that created them each year.

The Land Bank will report on 2016 activity including:

  • 358 Properties Acquired
  • 150 Properties Sold: Generating $1.7 million in sales revenue and leveraging nearly $7 million in private renovation investment
  • 76 structures demolished: Including the Gothic Cottage, which had been vacant for nearly 40 years, and the condemned New Jerusalem Church next door

    New Jerusalem Church

To date the Land Bank has:

  • Acquired 1,295 properties
  • Sold 419 properties
  • 31% of properties acquired to date have already been sold
  • Leveraging $16 million in private renovation investment
  • Returning $15.5 million in assessed value to taxable status & generating $749,000 in local property taxes annually
  • Demolished 175 blighted properties

They will also outline projects planned for 2017:

  • Pocket Parks:
    Working with neighbors to plan and install three pocket parks (Westside, Southside, and Northside) by June 30
  • Artful Board-Ups:
    Partnering with SCSD art classes, 40 below, and holding a volunteer board-painting day to beautify boarded-up land bank homes
  • Pilot Program to address lead paint hazards