ALBANY – The Albany County Land Bank Corporation has added more than 100 properties to its portfolio over the past three months, upping the total number of properties to more than 250.
Sixty of the properties are from the cities of Cohoes and Watervliet and the towns of Berne, Bethlehem, Colonie, New Scotland, Rensselaerville and Westerlo. Forty properties were acquired in the City of Albany.
The majority of acquisitions made by the Land Bank are comprised of properties made available from Albany County through the “in rem” tax lien foreclosure process. Properties acquired by the Land Bank are sold to buyers who are required to demonstrate that they can return the property to productive use.
“Vacancy and abandonment, and the harm it can cause our communities, does not recognize neighborhood or municipal borders,” said Adam Zaranko, executive director of the Albany County Land Bank Corporation. “The Land Bank will continue to build upon the significant progress we have made to date, and remains committed to reclaiming vacant properties in every corner of the county.”
The Albany County Land Bank is the second largest land bank in New York state measured by completed acquisitions and has responsibly disposed of more than 30 vacant properties. The Albany County Land Bank is using funding from New York State Attorney General Eric Schneiderman, Albany County and the City of Albany to support property demolitions, acquisitions, stabilizations, lot improvements and renovation projects.
“The Albany County Land Bank is continuing its work to improve our neighborhoods, block by block, lot by lot,” said Albany County Executive Daniel P. McCoy.
To help stabilize neighborhoods and strengthen communities throughout the county, the Land Bank seeks to dispose of properties in a manner that is consistent with comprehensive or neighborhood plans.
“We should all be pleased that the Albany County Land Bank is now acquiring vacant properties throughout Albany County. This is a huge step forward for all our communities – cities, towns, and villages alike,” said Colonie Town Supervisor Paula A. Mahan. “Vacant and abandoned properties are a blight on our neighborhoods and a persistent problem for municipalities
All available Land Bank properties can be viewed atwww.albanycountylandbank.org.
