Interested in Rehabilitating a Vacant Property in Schenectady?
We are looking for qualified community residents that demonstrate capacity to own and manage rental property who want to work with the Land Bank to revitalize vacant properties!
Find a vacant property and contact us!
The Capital Region Land Bank has received a “Neighbors for Neighborhoods” grant from NYS Attorney General Eric Schneiderman to renovate vacant properties as quality and affordable rental housing. The grant will be administered by the Enterprise Community Partners. The funding is being provided from bank settlements won by the Attorney General.
Eligible applicants are Landlords who are qualified community residents that demonstrate capacity to own and manage rental property. Qualified property owners must live within 15 miles of or within the same municipality as the property, must own two or less existing rental properties, have no negative real estate history, including tenant harassment, violations, or code issues, and must contribute a minimum amount of equity of approximately 10% of the total development cost of the property.
The Land Bank will provide rehabilitation subsidy to the new property owner and work with the future landlord to complete a full home rehabilitation, with a focus on exterior improvements in order to improve the character of neighborhood. The amount of funding available per vacant property will depend on the scale of the project.
Eligible properties include single and multiple family residential properties containing up to 4 units. Properties must be vacant at the time of acquisition. Interested landlords can investigate potential properties through the land bank and city-owned property management website.
Please contact the Land Bank with any inquires and/or interests, by email at email@example.com or by phone at (518) 377-1109 ext. 7.