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Board hears update: City’s $2.5 million to flow through SURA after new urban renewal plan; advisory committee question raised
Summary
Board staff told the Housing Strategies Corporation that the City of Syracuse intends to route $2,500,000 from its FY24‑25 operating budget through the Syracuse Urban Renewal Agency by having SURA adopt a second urban renewal plan mirroring the city's housing strategy.
Board staff updated the Housing Strategies Corporation on the mechanism and timeline to receive $2,500,000 from the City of Syracuse’s fiscal year 2024‑25 operating budget, and reported that legal counsel recommended routing the funds through the Syracuse Urban Renewal Agency (SURA) by adopting a second urban renewal plan.
Michelle, a Housing Strategies Corporation staff member, said city and corporation counsel recommended the SURA path as the most effective way to move municipal funds in compliance with state provisions that govern allowable uses of municipal dollars. "The recommendation was that we pursue working with the Syracuse Urban Renewal Agency ... to adopt a second urban renewal plan that basically mirrors the housing strategy," Michelle said.
Staff reported SURA had…
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