Committee reviews transfer of $2.5 million to Syracuse Housing Strategies Corporation and plan to expand SURA urban renewal area

The Neighborhood Preservation Committee discussed authorizing a transfer of $2.5 million from the city's FY2024—25 budget to the Syracuse Housing Strategies Corporation and adopting a second urban renewal plan that would allow the city's funds to be used for improvements to private residences, Michelle, a Neighborhood Business Development staff member, said.

Michelle told the committee the two legislative actions under discussion are (1) adoption of a second urban renewal plan and (2) a funding agreement under which SURA would receive and administer the $2.5 million. She said the second urban renewal plan is needed to comply with New York State legal restrictions that generally limit the use of municipal funds on private homes: adopting the urban renewal plan would provide the legal mechanism for SURA to administer funds for homeowner rehabilitation under an urban development framework.

The discussion centered on how much of the $2.5 million would be available for direct homeowner assistance versus administrative costs. Committee members were told the administration estimates annual administrative needs of roughly $350,000 to $500,000, covering staffing, legal fees, audits and insurance. "The 2.5 million could be used…