The Land Bank works with Broome County Government and our local municipalities to identify properties for rehabilitation or demolition. Properties are typically purchased and acquired through the County’s tax foreclosure process.
Land Bank rehabilitation projects are funded by various grant sources with each dictating different rules and regulations about who is eligible to purchase our homes. Generally, applicants are required to demonstrate sufficient financial capacity to purchase and maintain a property. To learn more about what may be required, check out our Affordable Homes Program page.
Individualized grant awards are usually considered on a case by case basis and the Land Bank will consider all requests made by individuals and community organizations. There are not, however, any direct grant programs provided by the Land Bank.
For many of the homes that the Land Bank sells, we require a deed restriction be filed at the time of purchase. Deed restrictions typically include language related to restricted use for a period of time. See an example below:
For the Land Bank’s Affordable Homes Program, home sales are managed very much like private real estate sales. The Land Bank will list a home for sale through a realtor and offers are received and reviewed for program qualification and a determination is made in the best interests of the Land Bank and approved buyer. For the Side Lot Program, the Land Bank will solicit offers from neighbors and will weigh said offers and select an applicant based on the best interests of the organization.