BINGHAMTON, NY (WIVT/WBGH) – Senator Lea Webb announced that the Broome County Land Bank will receive $1,074,600 in grant funding through the New York State Land Bank Initiative to support economic development and provide increased opportunities for homeownership. 

The grants were awarded on a competitive basis through a Request for Applications issued by New York State Homes and Community Renewal. The funds are drawn from $50 million allotted for the Governor’s Land Bank Initiative in the Fiscal Year 2023 New York State Budget.

In the summer of 2022, HCR awarded operational funding to 26 land banks in Phase I of the initiative. The Phase II awards announced today will provide capital funding for acquisition, demolition, building stabilization and pre-development expenses. 

The Broome County Land Bank fosters economic and community development by acquiring, holding, managing, developing and marketing distressed, vacant, abandoned and under-utilized properties to build vibrant neighborhoods.