Tioga County successful in bid for Land Bank Designation

Tioga County has successfully secured the final Land Bank designation in New York State. New York State law allows for 20 Land Banks across the State; 19 of which are already in operation. The Tioga County Economic Development and Planning Department was awarded the final spot and given approval to form the Tioga County Property Development Corporation (TCPDC) last month.

The TCPDC is a nonprofit entity established to address vacant, abandoned blighted and tax delinquent properties across Tioga County. It is an economic and community development tool and its purpose is to bring such properties to their best productive reuse through renovation or demolition. Other Southern Tier Land Banks are located in Broome, Chemung and Steuben counties.

The TCPDC will allow many properties in the County to be addressed; such as environmentally contaminated, abandoned and flood impacted properties, as well as properties identified as unstable or a health risk. The blighted properties will be renovated and resold, or demolished and cleared for either new development or for the creation of green space.

“There are many benefits to the County by establishing a Land Bank, “stated Teresa Saraceno, deputy director of Tioga County Economic Development. “After making improvements to the diminished properties, they are then made available for purchase, thereby not only restoring tax revenue, but in all likelihood, increasing it. This activity will spur an upturn in surrounding properties values as well.”

There are many other benefits that occur as a result of the revitalization efforts. Marte Sauerbrey, chair of the Tioga County Legislature, shared, “This program will encourage economic growth instead of allowing deterioration. It will help address the safety and health of our residents while stabilizing and transforming our neighborhoods.”

Land Bank designated communities are able to access funds for revitalization efforts by way of Community Revitalization Initiative Funding. Since the inception of the funding in 2013, over $30 million has been invested in properties via Land Banks across New York State; another $20.5 million was added to the fund in 2016. One thousand nine hundred ninety five properties have been reclaimed since November of 1996, 701 properties have been returned to the market and 409 unstable structures have been demolished. With the formation of the TCPDC, there is ample opportunity for Tioga County to contribute toward these significant statewide revitalization efforts.

The first meeting of the Tioga County Property Development Corporation Board of Directors will be held in April. Their opening tasks are the development of the bylaws and policies used to govern them and filing for 501 (c)(3) status. 

“The Land Bank is yet another tool for Tioga County to use in promoting economic growth, stability and energizing our communities,” Saraceno said. “We are anxious to get started!”