ALBANY – Three land banks in the region have been awarded $1.8 million each to help eliminate blight, increase housing supply, assist local economic development efforts, spur the availability of homeownership opportunities, and improve the quality of life in communities that have experienced disinvestment.
The Kingston City Land Bank, Newburgh Community Land Bank and Sullivan County Land Bank each received the funds through a competitive process.
The awards will provide capital funding for acquisition, demolition, building stabilization and pre-development expenses.
RuthAnne Visnauskas said the funds “will allow local organizations to invest in their communities by turning blight into opportunity that encourages redevelopment and boosts the tax base for the benefit of all.”
