Broome County’s Landbank Seeks Redevelopment of Foreclosed Properties

There’s a new bank doing business in Broome County, but it doesn’t deal in paper money.  The Broome County Land Bank has been formed to look at ways to redevelop foreclosed properties.

The not-for-profit corporation has been talking specifically about the future of a former assisted living and housing facility on Front Street in Binghamton, old Endicott Johnson factory buildings on Corliss Avenue and Lester Avenue in Johnson City and a former cigar factory on Depot Street in Binghamton.

Broome County is seeking $5.2 million in New York State funding to do preliminary work on the properties to help make them more appealing to developers.

The New York State Attorney General's office is expected to announce the winning projects that will share a total of $20 million in the next three to four weeks.

Broome County's Land Bank Corporation board plans to meet again at 4 p.m. on October 23rd at the offices of the Broome County Department of Planning and Economic Development, Broome County Office Building, 5th Floor Conference Room, 60 Hawley Street, Binghamton, New York.