A conceptual drawing of Gateway Lofts project at the Gateway Center in Jamestown
Jamestown City Council will review a resolution to reallocate $640,000 in HOME program funds to the Gateway Lofts Project.
The resolution would reallocate the monies from the U.S. Department of Housing and Urban Development from fiscal years 2020 through 2024
If approved, the monies would assist in the rehabilitation of the former Chautauqua Hardware building on Water Street into 110 supportive housing rental units.
Southern Tier Environments for Living, or STEL, has been working making the project a reality since 2018 and appears to be getting closer to raising the $77 million needed for the project.
Council also will review an application to reallocate the use of $269,685 in First-Time Homebuyer’s Rebate Assistance with the Chautauqua County Land Bank to their Strategic Acquisition category.
According to the staff report, the Land Bank has been holding funds received from the City of Jamestown for a First-Time Homebuyer Rebate program, but due to post-pandemic changes in tax foreclosure laws, it has had limited rehab inventory. The report said despite outreach efforts, only a fraction of the allocated program funding has been used. Additionally, due to the 2024 tax auction being canceled and uncertainty about whether an auction will be held in 2025 have led to less properties being available for purchase. As a result, the Land Bank stated in the report that it has shifted focus to special projects, including demolishing substandard properties. At this time, 20 have been completed, 30 are in progress, and 60 are awaiting funding. Future demolition funding is expected through the State Land Bank Initiative.
Also, Land Bank is working on economic development, preserving historic properties, expanding partnerships, and addressing the county’s temporary and emergency housing crisis. The biggest challenge remains the lack of rehab inventory. To address this, the Land Bank is requesting to make strategic acquisitions with the remaining $269,685 in Rebate funds. This would allow for private acquisitions in target neighborhoods and potential bidding on 2025 tax foreclosure properties. The proposed “corridor strategy” focuses on stabilizing and improving homes for first-time buyers in high-need areas, particularly along North Main Street and Prendergast Avenue, which suffer from crime and negligent landlords. The Land Bank has already acquired properties on Strong Street and is finalizing a purchase on Prendergast Avenue. By leveraging its charitable status to negotiate lower prices, the organization aims to transition these neighborhoods toward owner-occupancy and long-term revitalization.
During the full work session, Council will hear a presentation from Drescher & Malecki on the 2023 audit findings.
The Housing Committee will meet at 6:30 p.m. with other committees meeting at 7:00 p.m. The full work session will take place at 7:30 p.m. in the Police Training Room on the fourth floor of City Hall. All meetings are open to the public with the full work session being livestreamed on jamestownny.gov.
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