The Greater Syracuse Land Bank will hold its annual meeting Tuesday, January 17 at noon in the CNY Philanthropy Center at 431 E Fayette Street. This meeting is open to the public.
The meeting will include a presentation on accomplishments to date and outline goals for the coming year. To date the Land Bank has sold over 400 properties, leveraging $15 million in private renovation investment, demolished 169 blighted structures, and been awarded more grant funding from the Office of the NY Attorney General than any other land bank.
In the coming year we plan to introduce a pilot program to more proactively address lead paint hazards in homes we sell and to launch a program to renovate rental properties to be sold to nearby owner occupants, creating new local landlords and give these buyers an even greater stake in the future of their neighborhood.
On January 10, 2107 the Land Bank completed its 400th sale – 220 Oakley Drive in the City of Syracuse was sold to Devorn Kinsey, a young man who will renovate the property and occupy it as his primary residence. This property was sold under the Land Bank’s Home Ownership Choice program, which only allows offers from a buyer that will renovate and occupy as their own primary residence or from a buyer who will renovate and sell to an owner-occupant within 12 months. Mr. Kinsey is a City of Syracuse employee and his father owns a construction company and will be helping him with the renovations.
The Home Ownership Choice Program is a great way for a buyer with renovation skills to become a homeowner and earn ‘instant equity’ in these homes, which, once finished, are worth more than the cost of purchase and renovation.