Sentences with phrase «zombie properties»
The term "zombie properties" refers to abandoned homes or properties that are in a state of neglect or disrepair. These properties are often abandoned by their owners, but the owners still technically retain ownership. Therefore, these properties are like zombies, as they are left dormant and empty, but still exist legally. Full definition
The issue of zombie properties and what to do about them has been a source of debate in the community.
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We have made great strides in eliminating zombie properties and holding financial institutions liable for the properties they own, however there is still more to do.
They wouldn't help us take on the banks and do something about zombie properties.
This is a critical tool for local governments, as they can easily locate the owner of neglected zombie property to enforce their duty to maintain.
Although stating further details would be announced at a later date, he did disclose the mixed - income housing plan will include «super bid power» to eradicate zombie properties.
Most zombie properties are, like it or not, pretty generic.
The commercial focuses on that decision, as well as his work on the so - called zombie property issue in Western New York and his current battle to keep the state from relocating the children's psychiatric center.
I fought hard to make this law to hold banks accountable for zombie properties stuck in the legal limbo of foreclosure a reality and I applaud Governor Cuomo for taking swift action.
To report zombie properties contact New York's Department of Financial Services at (800) 342-3736.
A new partner in New York City is joining the local effort to combat zombie properties in Erie County.
«Our jobs have been made harder by the irresponsible practices of major banks which have created the scourge of zombie properties in cities, increasing the burden on local government operations.
Banks would also be on the hook for maintaining zombie properties and create a reinvestment program.
At 1:30 p.m., IDC Leader Jeff Klein, Sen. David Carlucci and Nyack Mayor Jennifer White urge Rockland homeowners to report zombie homes and reveal the latest data on zombie properties throughout Rockland County, 8 Hamilton Pl., Nyack.
Under existing New York State Law, banks are required to register pre-foreclosed zombie properties into the DFS registry.
The letter from Rochester Mayor Lovely Warren and the other mayors says that recent data shows that nearly 15 percent of all New York State residential mortgages could be classified as zombie properties.
«Binghamton's plan, supported by these settlement funds, will advance creative and impactful programs to address zombie properties.
At 7 p.m., state Sen. Leroy Comrie, Assembly members Alicia Hyndman and Clyde Vanel, NYC Councilman I. Daneek Miller and others a host zombie properties information session, Congregational Church, 211 - 04 Hollis Ave., Queens.
«It is imperative that the Clerk's office has direct and specific information as to who in each municipality is responsible for handling zombie properties, so that the flow of information is seamless.»
Homes near zombie properties lose an average of $ 5,000 in property value, the report said.
Based on the office's findings of bank - owned, publicly listed zombie properties and abandoned properties, which are vacant homes with an unknown owner, the offices released a shocking report, «Nightmare Neighbors: How Badly Maintained Homes Damage Neighborhoods,» which detailed how each type of property drastically depreciates the value or surrounding homes.
The ten zombie properties identified affected 396 nearby homes, causing a combined $ 1.7 million in depreciation.
The package of provisions was sought by the five - member Independent Democratic Conference in the state Senate, who had proposed the measures in recent months to combat zombie property vacancies.
«From The Bronx to Buffalo, zombie properties impact every corner of our state resulting in blight and diminished property values for surrounding homeowners.»
This new, toll - free hotline and online registry will track the thousands of zombie properties across our state, and will ensure that the Department of Financial Services can take action when necessary.
The new law that I championed that took effect last month now requires banks to properly maintain zombie properties during the «pre-foreclosure» period - the time, often years, when the properties are stuck in court and the banks do not technically own them yet.
Gov. Andrew Cuomo today announced a deal with 11 banks and lenders in New York to combat frustrations and economic damage caused by vacant and abandoned zombie properties.
«This program will support municipalities like the Town of Boston as we deal with issues presented by zombie properties.
The task force is working with municipalities across Monroe County to help them identify and track zombie properties.
A group called Take Back the Land was disappointed to hear that; they point out that the vast majority of zombie properties nationwide are left behind by rental property owners who give up.
Some of these initiatives include, the Better Buffalo Fund; Upstate Revitalization Initiative; an enhanced historic preservation tax credit; land banks legislation; zombie properties reforms; brownfield redevelopment reforms; Complete Streets law and funding; Community Risk & Resiliency Act; Age Friendly / Health Across All Policies; Cleaner Greener and Clean Energy Communities; Climate - Smart Communities grants; and craft beverage reforms.
The Legislature also has moved to act, passing during the 2016 session legislation that created new maintenance duties for banks and a hotline to report potential zombie properties.
The Attorney General's Abandoned Property Neighborhood Relief Act will hold «land banks» accountable for so - called zombie properties.
Cuomo's Department of Financial Services cut a deal on zombie properties, an area where Schneiderman has made a public push.
The law includes creation of a toll - free hotline for people to report zombie properties, a statewide registry to track them, and fines of up to $ 500.00 per day for every home a bank walks away from.
Attorney General Schneiderman understands that finding ways to eliminate zombie properties is an important part of bringing greater vibrancy to our neighborhoods and, in doing so, more jobs and better educational opportunities to everyone.»
A separate proposal would expand the existing $ 500 fine banks incur from local municipalities or DFS when they fail to maintain zombie properties.
The bill would also create a statewide registry for zombie properties that would be electronically accessible by, and serve as a resource for, localities facing abandoned property issues.
The bill also would establish a state registry of zombie properties and expedite foreclosure proceedings.
Ten million dollars, for example, are set aside for remediation of zombie properties in the East Side and in neighboring Cheektowaga.
When it comes to zombie properties, there has been $ 1.38 million in property value depreciation, according to a report released by Klein's office.
Worse, zombie properties that are in the legal limbo of foreclosure rot in communities throughout the state negatively impacting property values.
Under a new state law that takes effect Tuesday residents are encouraged to report zombie properties.
Using money from the state's Buffalo Billion II, New York will invest $ 10 million over the next three years to remediate properties, prevent foreclosures and prevent properties from falling into neglect and becoming «zombie properties.»
The Chronicle reported recently on Senator Klein and Councilman Torres's efforts to support land bank creation to combat the problem of «zombie properties».
After passing the duty to maintain, however, New York saw a spike in so - called zombie properties.
At 10 a.m., Cuomo signs legislation to combat so - called «zombie properties» in New York, 208 Hazard St., Solvay.
At 3:50 p.m., Cuomo holds a third bill signing ceremony for the zombie property legislation, IBEW Local 25,370 Motor Pkwy., Hauppauge, Long Island.