Foreclosed Binghamton homes to be turned into affordable housing

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BINGHAMTON, NY- In an effort to clean up neighborhoods in Binghamton, the city is partnering with the Broome County Land Bank to rehabilitate foreclosed properties.

Binghamton is the first Broome County municipality to be a funding partner with the Land Bank for the affordable homes program.

Mayor Rich David announced today that the city will be investing 2 million dollars with the goal of about 12 full home rehabilitations, with more being added as funding is recouped from the sale of the properties.

David says the city is supporting a program that has a proven track record of transforming eyesores into new opportunities.

“The partnership will not only restore integrity to many neighborhoods but will also deliver new housing for first time home buyers and families who need it most,” says David.

The announcement was made at 15 Birch Street, which has already been acquired by the Land Bank and will soon be renovated.

The program has already rehabilitated 4 properties in Binghamton.

Once homes are completed, they will be sold to income-qualified buyers.

Funding for this program comes from the city’s 46 million dollar federal pandemic relief grant.

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