NEWBURGH – Two area land
banks are going to receive funding from the state attorney general’s
office.
The Newburgh Land Bank will receive $2 million toward its continuing efforts
to revitalize the city’s housing stock.
The County of Sullivan will receive $920,000 for its new land bank initiative,
which will concentrate on the urban areas.
In Newburgh, the land bank will create 50 affordable rental units, help
10 families buy homes, and recycle materials from demolished properties
for use in future renovations.
The grants were awarded under the Land Bank Community Revitalization Initiative,
which was established in 2013 with funding secured through settlements
with the nation’s largest banks over misconduct that contributed
to the housing crisis.
