The Chautauqua County Land Bank has received $1.2 million in funding support from New York State.
The funding is part of $26 million in grant funding through the State’s Land Bank Initiative that has been awarded to 24 Land Banks across the state.
Chautauqua County Land Bank Executive Director Gina Paradis said the organization was funded 90% of their $1.35 million request for a total of $1,217,196.
She said mortgage crisis settlement monies initially funded land banks in the state, but that funding has been totally expended.
Pardis said the funding will be used primarily for the Land Bank’s demolition program given that there are almost 80 properties in the pipeline awaiting demolition. She said additional funding will assist with pre-development costs, and property stabilization for some of the larger multi-family projects.
In November 2022, Jamestown City Council also approved allocating $1 million in American Rescue Plan Act funds to the Land Bank.
Leave a Reply