New Program Would Help Rehabilitate Houses and Neighborhoods
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It's a program designed to help tackle one of Rochester's ongoing housing struggles. The city has applied to the state to create what would be known as the Rochester Land Bank.
The program takes on the cost of turning vacant homes in the city into sellable properties, by acquiring and fixing up the houses.
Leaders say it's cheaper to renovate than it is to demolish homes, and it does more for the neighborhoods in which they're located.
"This land bank is going to be a tool that makes the program better and stronger and one way it's going to do that is it's going to reduce the acquisition cost for properties," said Jean Lowe, Greater Rochester Housing Partnership.
City leaders used a home on Lark Street as an example. Home Rochester acquired the tax-delinquent property for $14,000. It's now on the market, fixed up and for sale, for $72,000.