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Land Bank backs Arbor application, commits up to $50,000 to vacant-rental program and accepts $100,000 operating award
Summary
The Chemung County Land Bank voted to support Arbor Housing’s vacant-rental program application by committing up to $50,000, accepted a new $100,000 award for operating costs, and authorized applications for the New York Land Bank Initiative funding stream.
The Chemung County Land Bank voted to support Arbor Housing and Development’s application to the state’s vacant rental program and said it will set aside up to $50,000 toward rehabilitation efforts if the application is funded.
Arbor’s application seeks funding to bring vacant, uninhabitable rental units back online across Chemung, Steuben and Schuyler counties. The Land Bank’s letter of support, read to the board, states the Land Bank will “set aside $50,000 towards repair and rehabilitation efforts, bringing vacant rental units online to increase the supply of needed apartments through Chemung County.” Board members clarified that committing $50,000 does not obligate the Land Bank to…
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