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Legacy City Access Program
In many areas across NY State, lingering effects of the foreclosure crisis, combined with population loss and limited access to capital have resulted in cities struggling to address blight, particularly vacant and distressed 1-3 unit properties. These abandoned structures continue to drive down market conditions and strain limited municipal resources. As these properties have languished, the cost of renovation is often greater than the after-improved value, putting scalable and targeted revitalization efforts financially out of reach.
ARTICLE:
New York State - Governor Cuomo Announces New $25 Million Legacy Cities Initiative to Eliminate Blight in Upstate New York (5/27/2021)
In many areas across NY State, lingering effects of the foreclosure crisis, combined with population loss and limited access to capital have resulted in cities struggling to address blight, particularly vacant and distressed 1-3 unit properties. These abandoned structures continue to drive down market conditions and strain limited municipal resources. As these properties have languished, the cost of renovation is often greater than the after-improved value, putting scalable and targeted revitalization efforts financially out of reach.
ARTICLE:
New York State - Governor Cuomo Announces New $25 Million Legacy Cities Initiative to Eliminate Blight in Upstate New York (5/27/2021)
