Greater Syracuse Land Bank seeks $750,000 operating support, outlines demolition and housing plans

A representative of the Greater Syracuse Land Bank told city councilors at a budget hearing that the land bank is seeking $750,000 in operating support — the same level as last year — and outlined plans for demolitions, stabilization and homeownership programs.

The presenter said the land bank generates roughly half of its operating revenue from property sales and rents and relies on city and county funding to cover the remainder. “We’re in the budget for $750,000, which is the same as last year,” the representative said, adding that state funding is used primarily for capital projects such as stabilization and demolitions.

The land bank gave several financial figures to the council. The presenter said the organization has sold about 1,400 properties and that those sales generate roughly $2,600,000 a year in on-time property tax payments. The presenter also said delinquent-collection performance has improved since the land bank’s creation, citing a $30,000,000 total increase in collections and noting the city had previously granted the land bank $12,000,000 in support.

Council members pressed the land bank on…