The Finger Lakes Regional Land Bank Corp., an affiliate of Seneca County, is looking to acquire two vacant, deteriorating, and tax-delinquent properties.
The land bank aims to purchase the properties located at 1473 Pleasant St. in Willard and 17 S. Walnut St. in Waterloo for $1 each during the county’s foreclosure sale in May.
In a recent report to the county Board of Supervisors, land bank CEO Joseph McGrath explained that both properties have run-down houses on them. If acquired, the land bank plans to rehabilitate and resell the properties or demolish and redevelop them with new houses, potentially partnering with Habitat for Humanity.
McGrath revealed that the land bank obtained six properties from the foreclosure list last year. Five of these properties had their houses demolished, while the sixth awaits demolition once funding is secured.
In addition, the land bank sold a property at 101 Virginia St. in Waterloo to David Wagenhauser for $3,000. Wagenhauser, who works on such projects for a living, is currently renovating the house into a single-family residence. He intends to move back to upstate New York from his current out-of-state residence.
McGrath also informed the supervisors that a housing needs assessment is set to be completed in May. This assessment will offer information and limited recommendations on the next steps for enhancing the county’s housing stock.
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