Tagged: vacant housing

The Syracuse Common Council voted Monday to give the city's newly formed land bank a loan for startup costs and to share property tax revenue so the land bank can function over the long term, but some felt the details of those plans left a lot to be desired.

What was approved is a $250,000 loan to the Greater Syracuse Property Development Corporation to help with startup costs along with a promise the city will share the expected increase in back property tax payments it will collect.

It began sending out foreclosure notices for the first time last month, but a long-term funding source for Syracuse and Onondaga County's newly formed land bank is just starting to come into focus; though some details remain to be worked out.