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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 developers for the program; the HCR program also imposes a 15‑year compliance period and income limits for beneficiaries. Staff said Arbor did not want the parcels as donations and requested option agreements so Arbor would have site control while pursuing grant funding.
Board members raised public-authority conflict-of-interest concerns because Arbor already provides other services to the land bank. The board asked counsel to review the public-authority conflict-of-interest rules and confirm whether the option agreements would comply. Staff said they would proceed with the option agreements while legal reviewed the arrangement and would return with any required modifications.
A motion to enter into the option agreements at $8,000 per lot was made, seconded, and approved by voice vote; the board directed legal staff to confirm compliance with public-authority conflict-of-interest provisions.
Ending: Staff will work with counsel to complete option agreements and will proceed with Arbor’s application for HCR funding if legal review finds no conflict or prescribes mitigation steps.
