Council to endorse application for New York Main Street funding for 121 Court Street rehabilitation

Binghamton officials asked the City Council Monday to approve a municipal resolution authorizing an application to New York State Homes and Community Renewal’s Main Street downtown anchor program for up to $500,000 to rehabilitate 121 Court Street.

City planner Sarah Glosse said the project would seek a grant of up to $500,000 toward a total projected cost of $1,100,000 to convert a long‑vacant building into four residential units and one commercial space. Glosse said the city issued a public call for projects earlier this year and received a single application for the downtown anchor category; she asked the council to approve a resolution so the property owner can complete the market analysis and business plan required by the grant application.

“we are asking for a municipal resolution authorizing the city to apply for a grant of up to $500,000 through the New York Main Street program for improvements at 121 Court Street,” Glosse said during the presentation.

Glosse and council members discussed whether the proposed units meet the Main Street criteria and local housing needs. Staff noted the Main Street program requires residential units to meet income limits (the presenter described the program’s guidance as generally capping eligible rents at 90% of area median income for certain categories) and requires the property owner to submit a market analysis and business plan as part of the application.

Councilor critics asked which market analysis the applicant would use to demonstrate ‘‘compelling need’’ for the downtown anchor category. Glosse replied the applicant must prepare the market analysis and the state HCR will evaluate whether the application satisfies program standards; she said staff had not asked the owner to complete the market analysis before securing council approval for a municipal resolution because that analysis is time‑consuming and is only required if the municipality intends to move forward with the application.

Council members also flagged the applicant’s likely tenant profile and whether the proposal would serve lower‑income needs. Staff said the applicant — identified in the packet materials as a developer with prior downtown renovations — tends to pursue rental units oriented toward young professionals and that the downtown anchor application is not intended to meet deeper affordable housing needs.

No final vote on the resolution was recorded during the work session; staff said they would provide application materials to councilors on request and proceed with the municipal resolution if the council accepts the general terms.