The City of Binghamton is making great strides in establishing its place in economic and public sectors. Aside from being named a 2007 Tree City USA by the National Arbor Day Foundation, the City has recently passed proposals for redeveloping residential and commercial properties on the verge of ruins.
Ryan LaFollette/Managing Editor
In an effort to rehabilitate the area and to bring in more revenue, the proposals passed on April 7 would make such properties available for $1 each. Plans for the properties sold include the rehabilitation of owner-occupied housing, construction of owner and renter-occupied housing and parking space expansion for small businesses.
Plans for the properties may also include development of community green spaces, which would continue the City’s hopes in living up to its 2007 Tree City USA title — a first-time award for the City in more than 20 years. Binghamton will observe Arbor Day this spring on April 25 with a proclamation and ceremonial tree planting.
In awarding properties for redevelopment, Binghamton prioritized plans that enabled owner occupancy, included contractors with demonstrated development experience and benefited individuals and families affected by the 2006 flood disasters.
The blight properties were originally acquired by the City from foreclosure when the initial owners failed to pay property taxes.
“If the properties continue to sit with the county, they wouldn’t generate money. But if we sell the properties for $1, a price that is appealing and accessible to many, then home and business owners who buy them would in turn generate property tax revenues,” Block said.
A committee composing of City Hall staff, City Council and stakeholders in local housing development was set up by Mayor Matt Ryan to review and screen proposals for the properties, and to interview promising applicants.
“We examined each proposal closely and carefully and then selected what we considered to be the most viable options,” City Council President Martin Gerchman said.
The committee has awarded some of the pieces of land to individuals and families especially affected by the 2006 flood disasters.
Approved property owners would be able to use up to $100,000 for new construction. The money is tapped from the Restore NY funds, a grant program implemented by the Empire State Development Corporation to encourage economic development and community growth by providing cities with financial help for three years for restoring residential and commercial properties. Cities apply to draw from the fund each year, the first year going up to $50 million, the second up to $100 million and at least $150 million will be available to the municipalities in the final year.
In October 2006, the City received a first-round grant of $1.65 million, the largest amount received in the Southern Tier and one of the biggest per capita grants in New York. In January, the City received a round-two grant of more than $2.5 million for 46 properties, four of which are commercial.
Plans for submitting a round-three grant application are under way.
“We have every intention to submit another substantial grant application,” Ryan said. “The Restore NY program really opens the door for some smart collaborative development projects that advance the priorities and principles of this administration, and we’re seizing the opportunity to the benefit of our residents.”