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by Steve Bittenbender, The Center Square | May 28, 2021 08:30 AM Print this article The state of New York on Thursday announced an initiative to provide more housing opportunities in upstate communities through a partnership with a nonprofit that combats urban blight. The plan, called the Legacy Cities Initiative, calls for New York State Homes and Community Renewal, a group of state agencies, to issue $25 million in subsidies to target specific neighborhoods. The state will use an application process to allocate the funds for vacant properties, while leveraging private investments from local investors. Land banks will transfer up to 10 single-family properties to developers, and the nonprofit Community Preservation Corporation (CPC), which is working with the state on the project, will offer financing. Each project will be eligible for up to $75,000 in state subsidies, with the potential for $20,000 more if developers include certain ....
Governor Andrew M. Cuomo today announced the new $25 million Legacy Cities initiative, a targeted effort to eradicate vacant properties in concentrated neighborhoods across Upstate New York and transform blighted structures into newly renovated, move-in ready homes. The renovated homes will help expand affordable homeownership opportunities for low- and moderate-income residents, specifically first-time buyers and households of color. By working to eliminate vacant properties in cities throughout the State, we can facilitate and expand the revitalization efforts currently underway in many underserved neighborhoods, especially those previously impacted by the foreclosure crisis, Governor Cuomo said . This new program will help increase property values for current homeowners, improve the quality of life in neighborhoods, and reduce the strain on municipal resources, including fire and police, by decreasing the health and safety risks associated with blight ....
CAPITAL REGION, N.Y. â The Future of Small Cities Institute invites Catherine Tumber to speak about âThe Peril & Promise of Americaâs Smaller Legacy Citiesâ as the instituteâs 1st Annual Winter Keynote taking place virtually on Feb. 23 at 11 a.m. Over the past 40 years, small and midsize legacy cities (pop. 40,000-250,000) have taken a beating. They have suffered disproportionately from the liberalization of global trade, the flight of manufacturing, the rise of the digital innovation economy, the monopolization of agriculture, and the aggressive financing of suburban growth. As a result, they face ongoing depopulation, plummeting tax bases, concentrated poverty, and the development pattern known as sprawl without growth. In the final indignity, these once vital regional centers became invisible as cities, overshadowed by large global economy powerhouses and often lumped together with small towns out in flyover country. ....