Sentences with phrase «vacant property problem»

The Greater Syracuse Property Development Corporation has been working since May on a way to tackle Syracuse's large vacant property problem without a solid funding structure in place.

Not exact matches

A task force formed by Monroe County Clerk Adam Bello has issued its first report addressing a problem Bello calls one of the most concerning and frustrating issues facing homeowners: vacant or «zombie» properties.

NEW YORK, NY — Attorney General Eric T. Schneiderman announced grant awards totaling $ 12.6 million to help 76 cities, towns, and villages across the state address the problem of vacant properties and so - called «zombie homes» — vacant and abandoned homes that are not maintained during a prolonged foreclosure proceeding.

Bello recently convened a vacant and abandoned property task force to address the issue, which is a problem in Rochester.

«Municipalities all across Erie County have been dealing with a growing problem of vacant, abandoned, and tax - delinquent properties.

In a press release on April 11, Schneiderman announced that $ 20 million of funds from settlements with Goldman Sachs and Morgan Stanley would be used «to provide local governments with innovative technology to address and transform problem properties — including homes and buildings that are blighted, poorly maintained, vacant, abandoned, and in financial distress — that fell into disrepair following the foreclosure crisis,» as part of a program called Cities for Responsible Investment and Strategic Enforcement, or Cities RISE.

City lawmakers, though, are developing less confrontational ways to tackle the problem of vacant, or warehoused, property that could be used for affordable housing.

«Now, we are also going to deal with the problem of vacant properties, abandoned properties,» Schneiderman said Tuesday during an editorial board meeting with Syracuse Media Group.

But properties that are in disrepair or that have sat vacant for a while may prose a problem.

Everyone loses on mortgage foreclosures; mortgage lenders take losses on each foreclosed home, affected homeowners face credit problems for several years, and communities lose property tax revenue when blighted vacant homes and adjacent properties lose value.

As part of the alliance with the banks, the property management firms are dispatched to guard against the problems endemic to vacant properties, like weather damage, mold and vandalism, by winterizing the properties, changing the locks and performing other critical maintenance tasks.

For one, if the property has been vacant for a long period of time, it may have developed problems from lack of use (pipes may freeze over and spring leaks, lack of air circulation can cause molding, etc.).

The most obvious and significant problem with owning a vacant rental property is that cash flow is affected.

This becomes especially important if the property has been vacant for an extended time, since this increases the odds of maintenance - related problems, or break - ins by squatters or wild animals.

To address this problem, the President expanded the Neighborhood Stabilization Program (NSP), which has provided $ 7 billion to thousands of communities across all 50 states to refurbish vacant properties in areas facing foreclosure and abandonment.