$2M Housing Grant Received By Newburgh Land Bank

NEWBURGH, NY — Newburgh Community Land Bank is one of 19 land banks that are receiving grants to rebuild neighborhood across New York State.

Attorney General Eric. T. Schneiderman announced Friday $20.9 million in new grants that will help purchase abandoned properties and return them to productive use.

The grants were awarded under the Land Bank Community Revitalization Initiative, which was established in 2013 with funding secured through settlements with the nation’s largest banks over misconduct that contributed to the housing crisis.

The Newburgh Community Land Bank will receive $2 million.

It will create 50 affordable rental units, help 10 families realize their dream of home ownership and recycle materials from demolished properties for use in future renovations.

Schneiderman said that communities throughout the state are still suffering the fallout from the housing crisis and his office will continue to support innovative efforts to help them recover.

“With today’s round of grants, all 19 land banks will build on the significant accomplishments already achieved over the past three years, helping put abandoned properties back into use, revitalizing towns and cities and creating a safer, more stable and more vibrant environment for New York’s families,” he said.

Photo credit: NYS Attorney General's Office.