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Land Bank Receives $1.1M From State AG Office

The Chautauqua County Land Bank Corp. has received more than $1 million from the state Attorney General’s Office.

On Friday, Attorney General Eric T. Schneiderman announced $20.9 million in new grants to 19 land banks that are working to protect homeowners and neighborhoods across the state by acquiring abandoned properties and returning them to productive use. This new funding brings Attorney General Schneiderman’s total investment in land banks to $57 million since 2013.

The Chautauqua County Land Bank received $1.1 million during this latest round in funding from the state attorney general. During the first round of funding in 2013, when there was $13 million available for state land banks, the county received $1.5 million. During the second round of funding from the state attorney general in 2014, when there was $20 million available for state land banks, the county received $1.3 million.

Gina Paradis, county Land Bank executive director, said approximately $600,000 of the new funding will go toward demolitions in the county. She said the rest of the $500,000 in funding will go toward marketing, program costs and salaries.

”We are very happy with what we were able to secure. It is very critical for us to be able to keep the programs going, primarily the demolition program,” Paradis said. ”Our rehab program we are able to keep going fundamentally with the properties the county grants over to us through the tax auction. But for demolitions we depend on this money.”

Paradis said with more land banks in the state, she appreciates that the county Land Bank received almost all of what they applied for from the state.

”We put in for right around $1.2 million, so we really did very well,” she said. ”I really appreciate the attorney general’s efforts to secure these funds for the land banks, and all they do to resolve zombie and vacant, abandoned housing issues that have plagued our communities for so long.”

This round of attorney general funding was made possible by settlements secured last year from Morgan Stanley and Goldman Sachs, which provides renewal grants to the state’s original ten land banks and start-up grants to nine more newly established land banks, many of which are in rural areas across the state.

”Communities throughout New York are still suffering the fallout from the housing crisis, and my office will continue to support innovative efforts to help them recover,” Schneiderman said. ”With today’s round of grants, all 19 land banks will build on the significant accomplishments already achieved over the past three years, helping put abandoned properties back into use, revitalizing towns and cities, and creating a safer, more stable, and more vibrant environment for New York’s families.”

The grant program is being managed by two community development intermediary organizations, Enterprise Community Partners and the Local Initiatives Support Corporation, which oversaw the application process, selected the grantees and will be providing technical assistance to the land banks as they implement their plans.

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