Last week, the Broome County Land Bank unveiled its first renovated property to go up for sale in 2022.
The Land Bank is in the process of rehabilitating about a dozen properties on the county’s tax foreclosure list. It will then sell the houses, at a reduced cost, to low- and moderate-income residents.
The recently unveiled single-family home is on Binghamton’s North Side. It was renovated using $2 million in American Rescue Plan Act federal stimulus funding and grant money from the Land Bank’s Community Revitalization Initiative (CRI) Program. The city also provided $100,000 in funding for the project.
The house is the fourth property the Land Bank has renovated as part of its Affordable Homes program.
“When the Land Bank acquired [the home], it was a two-family home. The layout of the home was very strange, not conducive to a two family and not code compliant,” said Land Bank Executive Director Jessica Haas.
The First Ward Action Council partnered with the Land Bank to renovate the house. First Ward Action Council President Reverend Henry Ausby said it would make a great home for a local family.
“One might ask, how can one house make a difference? Well, let me tell you, for the family that gets to this house here, it's much more than just safe. It's much more than just decent. It's a beautiful house,” Ausby said.
Binghamton Mayor Jared Kraham said if it weren’t for the Land Bank, many of the properties would end up vacant or owned by an absentee landlord.
“We're not doing that in Binghamton. We're taking these [properties] and viewing them as opportunities, not only to provide safe quality, affordable housing, have someone build their future and raise a family here, but to also support our neighborhood environments,” Kraham said.
The four-bedroom, two-bathroom property is listed at $95,000. Residents interested in the home can go to the Broome County Land Bank's website for more information on eligibility.