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Board OKs option agreements with Arbor Housing for three lots, legal review to follow
Summary
The land bank authorized option agreements to allow Arbor Housing & Development to apply for HCR homebuyer development funding for three lots (806 Oak, 1006 Oak, 610 Falk) at $8,000 each, with counsel asked to review potential public‑authority conflict-of-interest issues before final transfer.
The Chemung County Property Development Corporation approved entering option agreements with Arbor Housing and Development for three vacant lots—806 Oak, 1006 Oak and 610 Falk—at $8,000 each to enable Arbor to apply for HCR Homebuyer Development funding.
Emma Moran and Tara (staff) said Arbor is the recommended developer because HCR prefers experienced…
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