Binghamton Announces Winners of One Dollar Healthy Homes Initiative
5/20/2013 (Updated 6:48:54 PM)(Source: Kate Thornton)
BINGHAMTON -- Eight seriously blighted properties acquired by the City of Binghamton through foreclosure will get a major overhaul in the next year.
Monday, the city announced the winners of the One Dollar Healthy Homes Initiative.
Back in January, the city received 18 redevelopment proposals across the eight properties.
A review and selection committee, which included housing staff and Council members Lea Webb and Chris Papastrat, unanimously agreed on all winning proposals.
Each winner will receive $100,000 in Restore NY funding, the state grant awards secured by Binghamton to turn the vacant properties into quality, energy-efficient housing.
"This is a great way to kind of restore market values to that neighborhood, and remove safety hazards. It's also eliminating properties that were draining local resources from Parks going over there to make sure it's secure and Police monitoring the situations. It's a positive outcome all the way around," said Binghamton Planning Director Tarik Abdelazim.
The winners do have to follow a set guide to receive the full $100,000. The end result of the renovation must comply to the proposal, and must be completed within one year. They must also live or have full possession of the property for a minimum of five years.
The properties will be renovated into either single-family homes, or into a two-family residence for rental housing.
City Council will officially approve the sale of these city-owned properties to the winning applicants for $1 on Wednesday.
Work projects are expected to start as early as July.
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